If you are in the market for a home owner insurance policy, but just can not seem to find a quote that is both cheap and adequate, you might be making the same often overlooked mistake that many home owners make when purchasing home owner insurance - you may be confusing factors that are not related to your homes rebuilding costs.

When you purchase a home owner insurance policy designed to compensate you for the costs of rebuilding your home, you are getting just that - the amount of money needed to rebuild your home. So, you and your home owner insurance company are going to have to figure out what that amount of money is and settle on a home owner insurance quote - monthly, quarterly, or annually paid premiums. However, when taking into account the value of the home, many home owners often make the mistake of including the land on which the home sits.

Stop and think for a moment. When you purchase a home owner insurance policy, in essence you are purchasing protection from theft, fire, water, and wind damage. The land on which your home sits is not at risk for being burglarized or catching fire (unless you live in a wooded area, in which case you can not single handedly repopulate the forest). Wind damage usually only leaves debris in your yard; it is most likely not going to pick up chunks of land and carry them away. Major water damage would be the result of a flood, and home owner insurance policies do not cover floods.