To get the best homeowners insurance policy you need to understand what you are looking for. Personally, I have noticed that you will pay much more by not knowing your facts before getting quotes. First, there are a number of discount homeowners insurance policies available from state to state, which are very different from each other, depending on if you rent or own your home or condo.

First, Do you own your own home? If so, there are three types of policies available to you. The first level of homeowners insurance is a limited coverage policy. Limited will cover you against disasters like fire, lightening, wind, hail, explosion, riot, aircraft, vehicles, smoke, and usually vandalism. You can only get this type of coverage in a few states. You need to find out if you are in one of those states.

The second level of coverage for homeowners is the basic policy, which covers your home for the disasters in the limited coverage policy. This will cover you from falling objects, weight of ice/snow/sleet, water damage from plumbing/sprinklers/air conditioning and other similar situations.

If the basic policy still does not seem enough, you have the option to obtain the most common policy. This protects you from any disaster except ones that aren't excluded in the policy. The disasters not covered are commonly floods, earthquakes, war, nuclear disasters, and landslides. When getting quotes make sure to see what is not covered. Usually online quotes will supply this information.

The fourth policy option is for older homes. Many older homes are not entitled to full replacement coverage because of their age and condition.

There is also a homeowners policy for renters. These policies were specifically developed to protect the possessions in the apartment that you own. Again, when getting your online quote make sure to get the details on your coverage.

Do you have a co-op or condo? If so, there is a different homeowners policy for this. Some people believe insurance coverage is for traditional homes only, but condominium owners need specific coverage too.

What will your cost be?