• What perils are you covered for?  
  
• What are the policy limits?  
  
• What exclusions exist?  

If you get a handle on these areas you will be in a much better position to know what you have and what coverage lacks. You will also be in a much better position to compare rates and coverage. 

Most policies, for example, will cover the home's main structure and outbuildings for damage due to storms, fire and other natural disasters. There may be exclusions for high winds, and weather-related flooding almost never has coverage. You might need separate coverage for these losses. 

There will be total limits for coverage on your property. Make sure these limits are sufficient to cover the home's value. Do the same for the limits for personal belongings and collectibles.  

If your home has increased in value significantly, then this is an area worth revisiting. This is also a good time to make sure all information on your policy is accurate. Have you acquired a dog or put in a pool or made other significant improvements? Those might merit amendments to the policy. 

It's Time to Compare 
Now that you know how much you pay and what perils have coverage, you are in a better position to compare policies. It is important to note that if you find better coverage at a better rate, it is your decision to switch insurance companies. It is your right and your privilege. Your agent is able to be your advocate in this regard.