The most basic homeowner's policy protects your home, shrubbery, trees, and outside structures from nearly a dozen perils, including fire, theft, vandalism, lightning, and windstorms. A broader policy adds additional items, including protection against damage from frozen pipes, falling objects, and sprinkler systems — virtually everything but war, nuclear accident, floods, earthquakes, usual wear and tear, intentional loss, etc.

Standard homeowner's policies in any category also offer peripheral coverage for calamities befalling your home. For example, if you have to evacuate the house in the event of a fire or some other disaster, a typical policy usually covers living expenses.

Generally, there are three packages, with HO-1 being the most basic and HO-3 the most comprehensive. HO-6 covers owners of condominiums and HO-4 is for renters. Note that you are covered only for the misfortunes listed on your policy, so read the document carefully. Think, too, about the age of the home you are buying, its location — waterfront, for example — its siding, landscaping, and so on.

The standard homeowner's policy consists of coverage for 100 percent of the replacement value of your home. It is important that you secure replacement coverage, which is what it would cost to rebuild the home at today's prices. If you do not know what that cost would be, ask your insurance agent or call in an appraiser.

You should also have coverage for your personal belongings, as well as liability coverage to protect you if someone is injured in your home or on your property. The policy should not cover the land. After all, you can probably build on it again.

There are many variations on the homeowner's package and limits to certain categories of coverage. Investigate them all. Given the variables of how much the carrier you select charges, the amount you are insuring your home for, and the extent of extra protection you want, you may pay anywhere from a few hundred dollars to over a thousand dollars annually in premiums.

Your personal possessions are also insured with a standard homeowner's policy when you insure the structure itself. That coverage extends to those items when you are away from home and have them with you, in the event of theft or even loss.

The usual coverage for the contents of a home is 50–75 percent of the home's insured value. For example, carrying $100,000 worth of insurance will cover $50,000–$70,000 for personal property, including furniture and clothing. That is for the standard, actual-cash-value coverage, which deducts for depreciation. You will almost always have to pay extra — perhaps another 10 percent — if you want your property insured at full replacement value.

As for your plants, trees, and shrubs, they are generally covered under your standard homeowner's insurance in perils such as fire, lightning, vandalism, and theft, but not wind damage or disease.

Then there is liability coverage to cover you in case someone is hurt on your property and sues you over it. Court awards of $100,000 for even relatively minor injuries a few years ago are now as high as $300,000. And what if a guest incurs a serious injury while on your property? That could cost you even more. The general liability limit starts at $100,000, which was common for years. Now professionals recommend at least $300,000 of coverage. Some feel more comfortable with more coverage, and that is where umbrella policies come in handy.

You might also give some thought to an umbrella policy. This liability protection is a separate policy that picks up where both your homeowner's and automobile policies leave off. Umbrellas can cost about $200–$350 annually for $1 million of additional liability coverage. Look into this coverage even if you do not have a home or lifestyle you think would warrant such protection. Guests tripping on stairs, the cleaning woman slipping on unshoveled snow that has turned to ice, or the postal carrier getting seriously bitten by your cute little doggy can all result in lawsuits. Umbrella coverage includes some libel protection, too, and it provides some coverage if an incident occurs while you are engaged in volunteer work. In our increasingly litigious society, you may well want to consider an umbrella policy.

Do you have a few pieces of important jewelry you want insured? Do you have some silver you value? Most policies will cover up to $1,000– $2,000 for loss of jewelry, furs, and watches and up to $2,500 for silverware. (Figures vary from one carrier to another and according to coverage purchased.) But there is often no provision for such special items as antiques, art, or valuable collectibles. These can be covered with the purchase of a personal articles floater, or special personal property endorsement, at an additional cost to you. Coverage applies whether or not the articles are in your home at the time of loss. It also includes damage or breakage, which is not covered by the standard homeowner's policy. Most standard policies provide coverage for original cash value minus depreciation. You can upgrade your coverage to include replacement cost, a far better protection for you. Before you decide just how big a floater you want, have those valuables professionally appraised.

What about the house itself? Do you feel it is worth more than the amount an insurer is willing to cover? Few starter homes are that lavish. Still, you might be buying a charming, detail-laden, old fixer-upper. Perhaps there are certain features, built into the house when it was constructed more than a century ago, that are unique and cannot be duplicated today. The house might even be a designated regional, state, or national landmark. Replacement cost, using modern materials, could not bring that house back to its original state.

If you have a house with some historic or architectural distinction, you should first have the house appraised professionally before approaching an insurance agent or broker. You may have to shop around a bit for a policy that takes all of this into account. Insurers are wary of coverage above replacement value because of the fear of arson for profit. Still, finding the right policy is not impossible.