Your home, possessions and lifestyle are unique to you, and your homeowners insurance should also be tailored to meet your specific needs. What's necessary for you in a comprehensive homeowners insurance policy may be completely different from what your next-door neighbor needs, and it's worth shopping around to find a policy that best meets your expectations.

What factors into the cost of home insurance?

As with other forms of insurance, premiums for home insurance can vary widely depending on a number of different factors. There are a handfuls of important factors that affect the cost of a homeowners insurance policy, including:

• The size of the home
• The area the home is located in
• The risks the home is prone to
• Local building costs

Does your insurance provider have you covered?

Here's a scenario that you may find surprising: After slaving away at the office for 12 hours a day, six days a week for two years straight, you finally decide it's time for a break. Now you're counting the minutes until you reach your glorious beach destination for a month-long sabbatical from the responsibilities of day-to-day life.

You've stopped the mail, boarded the dog and made sure that your finances were in order. You can't wait to dig your toes deep into the sand and relax.

But, did you know that some homeowners insurance policies will not cover theft or vandalism to your property if it's vacant for more than thirty days? What if you decide to extend your vacation? What if you encounter weather delays?

When in doubt, expect exceptions

Vacancy from your home is not the only unforeseen exception when it comes to homeowners insurance. If you have a home-based business, you may need a special endorsement or floater policy to protect your business equipment and facilities.

If your house is under construction, your plan should include a provision to ensure coverage in case of theft, vandalism or pipe-freezing. Collectors of art, jewelry or china might need additional coverage that goes beyond their policy limit.

Tips for finding the right coverage

Asking the right questions can put you a the right path to finding the best policy for your needs:

• What are the premiums and deductibles for standard coverage?
• What exact steps are invloved in the claim process?
• What risks require additional coverage and what is the additional cost?
  Can the premium be reduced with a bundle of other insurance, like automobile?
• Is it possible to get a discount with certain loss prevention or safety activities?

Comparing policies can save you money & headaches

Instances such as these illustrate the necessity of carefully reviewing several homeowners insurance plans before settling on one. It's worth it to make sure your insurance coverage actually covers you in circumstances or scenarios unique to you.