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There are three major reasons to buy homeowners insurance:1. To provide property coverage: Homeowners insurance covers the physical structure of your home and your personal property if it gets damaged or destroyed.2. To provide liability coverage: If someone who isnt covered under your policy is injured or killed, or their property is damaged or de

To determine your home insurance price, insurers typically look at the following:1. Rebuilding cost of your home.2. Age of your home.3. Distance between your home and the nearest water source.4. Fire protection rating of your city.5. Your claims history and the claims history of others in your neighborhood.6. Your coverages, limits and deductible.

Many factors affect the underwriting process, which determines the premiums you pay. Different insurance companies charge different premiums for similar coverage. Decisions you make about how much insurance coverage to buy also affect your premium. Some of the other things that are likely to affect your premium include: A. The cost to rebuild your