It’s important to know that your Homeowners Insurance Policy doesn’t just cover damage to your house (or dwelling) and other structures, but typically it also provides coverage for the personal belongings you have within it. Keep in mind that it’s your responsibility to maintain a track record of the monetary value associated with all your belongings. And don’t wait until AFTER the fact to start good record-keeping.
Don’t panic, this doesn’t mean you have to make a list of every single item you own per sey, but it’s a great idea to create a home inventory, giving particular attention to items of high monetary or personal value. You should be prepared to report to your insurance agent the approximate value of any expensive belongings, jewelry, or valuable artwork (for example) that you own. Depending on the value of those particular belongings, your insurance premiums may rise or fall, but at least you WILL have coverage available to you if this property gets stolen, damaged, or lost. And starting a Home Inventory Worksheet is really easy (many blank forms available online for free) and can even be as simple as a spreadsheet.