If you just bought your first home, you're going to need homeowners insurance. Before you choose a plan, you should make sure that it will provide all the protection you'll need. Your new insurance policy should cover more than the just the repair and replacement of your home. Here are just a few of the losses your insurance policy should cover.

Spoiled Food

You never know when your electricity is going to go out. Things like inclement weather, scheduled maintenance in the neighborhood, or unforeseen emergencies can leave you without electricity. When that happens, you may lose the food in your refrigerator and freezer. You're going to need to replace that spoiled food. Be sure that your new policy will cover the replacement costs.

Additional Living Expenses

If your home is ever deemed uninhabitable due to a catastrophic event such as a fire, you're going to need somewhere else to live while your home is repaired. The additional living expenses portion of your homeowners policy is designed to provide you with the funds you'll need for rental housing until you're able to move back into your home. This portion of your policy should also cover the costs of rental furniture and household goods.

Personal Liability

If someone is ever injured on your property, your home insurance should cover those injuries. This includes dog bites, slip and fall accidents, or other injuries that occur on your property. In addition, your home insurance policy will also provide coverage for some auto accidents.

For instance, if you cause a car accident but your auto coverage isn't enough to cover the damages, your homeowners policy may cover the additional costs. It will also cover damages if you are involved in a car accident without proper car insurance.

College Student Losses

When your children go away to college, you're going to want to protect their personal property. Your basic homeowners policy will provide blanket protection for your child's property while they're away at college. Be sure to keep a complete list of your child's property. Your insurance company will want proof of ownership should you ever need to submit a claim for stolen or damaged property.

Don't purchase a home insurance policy until you know what's included in your coverage. Not having the proper coverage could leave you unprotected. Take the time to read the policy limitations before you agree to a policy. This list can help you understand the additional losses that your home insurance should cover.