06-15-06 - Purchasing your first home is an important step in your life, especially when it comes time to purchase house insurance.

Generally speaking, either your mortgage company will give you an idea of how much they want you to cover the house for, or your insurance agent will be able to determine how much it will cost to replace your home.

Keep in mind that owning a home brings with it some risk. A guest may slip and fall on a wet floor, or trip down the stairs. Insurance protects you if you’re ever sued because of an accidental situation. The coverage extends for both accidents at home and away.

Home owner’s insurance also covers the contents of your home, like your TV, stereo and DVDs, if they're stolen or destroyed. However, insurance doesn’t cover everything. If you have unusual items, you should check with your agent.