1. Insure the house not including the land. Home insurance is to protect what could be lost or stolen. No peril can destroy the land on which your house is built. Always deduct the cost of your land from the worth of your house when you apply for a home owners insurance policy. If you do not do this you'll buy far more insurance than is useful. As you definitely understand, buying more insurance means paying more whether it's necessary coverage or not.
2. Be sure to take some time out to check your policy's limits twice yearly or more if things change more frequently in your home. It's important that you get proper coverage. Nevertheless, you could now have too much coverage. Be sure to get the present value of your home and its content. Although you may find that you have inadequate coverage and therefore have to extend your coverage limits, you may similarly find that you have too much and therefore make savings when you bring down your coverage to the correct amount.
3. Bearing in mind that the major reason for buying homeowners insurance is to ensure you're adequately covered from the risks associated with a home loss or damage, I'll add this although it's not a benefit of a home insurance policy. You'd be expected to get flood insurance at up to $ 400 yearly if you get a house in a flood-prone location. Note that any mortgagor will make it compulsory that you buy flood insurance if you buy a home in a flood region. You can save yourself such expense by buying a house in a locality that is not suffering such.
Make out some time to visit not less than 3 quotes sites that return quotes on policies. Doing this will require around 15 minutes. As you visit each site, ensure you give the same information. Doing otherwise will return misleading quotes. When you've received your home insurance quotes, compare them to determine which serves your interest best both in price and value.