As a homebuyer or homeowner in the state of Florida, there will always be something on your mind. From obtaining the best mortgage rate to fixing up the home in which you live, the action never stops.

While there may be other items on your to-do list, don’t overlook the importance of buying and maintaining a comprehensive home insurance policy.

Here is what you need to avoid: thinking you can purchase any type of home insurance to receive the coverage you desire.

In addition to the many companies selling home insurance, there are decisions to make regarding your coverage. What deductible are you most comfortable with? Are you covered for expenses incurred if you cannot live in your home due to a covered event?

It is easy to focus on the basics and overlook what is really important. Here are three details that may have escaped you:

1. The policy you purchased when you bought your home may not be right for you and your property at this time. Times change and so should your home insurance policy.

When was the last time you reviewed your policy? If you don’t know the answer or realize it has been many years, now is the time to catch up.

Think about this potential situation: you may have accumulated personal property of great value over the years, all of which needs to be covered by your home insurance policy. However, if you don’t update your policy to reflect this, you could be devastated if a fire, for example, destroys these items.

2. Not everything is covered. Don’t let anybody tell you that your home insurance policy will cover anything and everything that could go wrong. This is not the truth.

Did you know that flooding is not covered by a standard home insurance policy? If rising water enters your home and causes damage, your home insurance coverage will not kick in. Instead, you will need flood insurance, which is available through the National Flood Insurance Program (NFIP).

Be sure to speak with your agent about what is and is not covered. If you have any doubt, it is better to ask than to hope you are right.

3. Saving money isn’t the end all. Some homeowners jump from one company to the next, chasing the lowest premium. While saving money is always a good thing, it is not the only thing to consider.