1. Contact an insurance agent (person or online) for a quote on homeowner's insurance. If you do not currently own a home, you may use your parents' home or a friend's home. Be sure to include the following: (a) Name of the company. (b) Policy limits for the structure, garage, contents, and liability. (c) Deductible amount. (d) Annual premium. (e) Does this policy cover replacement cost (as opposed to actual depreciated cash value)?