I think my homeowner's policy is about $795. It was a shock to me, because for years when I had a condo, the association paid for insurance on the building, so I only had to have a policy that was similar to a renter's policy, which was only about $100 per year.
Before I moved into the house, Grandma had a policy on it that was $450 for three years. Almost sounded too good to be true, until I found the details. It only covered the house in case of a fire, and since it had been a rental property, there was no contents coverage. The real kicker? They only had a $40,000 value on the house! 
I'd have to double-check, but I think right now the insurance company places a value of $200K on the house, and $50K for outbuildings. I forget what the contents are valued at, but it's way more than what I have in the house. Since I just built a 24x40 garage, I wonder if I should up the outbuildings coverage?
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