NORTHAMPTON - Many homeowners dusted off their homeowners insurance policy in the aftermath of last month's arson fires.

"When something like this does occur, you do get a flurry of phone calls," said Bob Daniels, claims manager at Finck & Perras Insurance Agency in Florence and Easthampton. "Most people are calling to assure themselves."

According to the Insurance Information Institute, a nonprofit communications organization supported by the insurance industry, homeowners should review their insurance regularly to make sure they have enough coverage.

The institute outlines three key issues:

 · A policy needs to cover the cost of rebuilding a home at current construction costs. The cost to rebuild a home is not based on a home's real estate value in today's market or even the cost of new construction.

Rebuilding costs are usually higher than new construction costs. Demolition and debris removal can further add to rebuilding costs. Homeowners who alter or upgrade their home should alert their insurance company so that these improvements are also properly insured.

 · Most homeowners insurance policies provide coverage for personal possessions of approximately 50 percent to 70 percent of the amount of insurance they have on the structure of their home.

So someone with $100,000 worth of coverage on the structure of their home would be covered for $50,000 to $70,000 worth of the contents of their home. In order to determine whether this is enough coverage, homeowners can create a home inventory of everything they own and the cost to replace these items.

 · Homeowners insurance does not just protect the structure and contents of a home, it also provides liability protection, which covers against lawsuits for bodily injury or property damage to other people while on their property.

Most standard home and renters insurance policies provide at least $100,000 of liability coverage, however, additional liability protection is available.

Homeowners with questions should contact their insurance agents, who often review the policies for their clients each year to make sure they are up to par, said Richard Webber, co-owner of Webber & Grinnell Insurance of Northampton.

Additionally, Webber & Grinnell places a lot of emphasis on an initial meeting with a homeowner and going over a policy in detail. Webber said his agents ask a lot of questions about someone's house and will often visit a house in order to put together a policy for a three- or four-year period.

"The biggest challenge is to get people to slow down and talk with us," said Webber. "It's an involved discussion that should be taken seriously, even though you may never be affected. But a homeowners policy is an extraordinary value."