 square footage, the construction quality, all of those things, your proximity to a fire station, a lot of things go into it. But you do want to make sure that you agree with what you are paying for with your insurance. If you are thinking about it in terms of a home's market value, you want to shift that a little bit. What you're really insuring for is the cost to rebuild a property. That could be much more or even much less than the market value.