Holly Roberts of Demand Media summarized an article about homeowners insurance. It is well worth reading.

She found that;Homeowners insurance can be complicated — which may be part of the reason 31 percent of people with insurance weren’t sure how much their home was insured for and 46 percent of homeowners didn’t know which of their belongings were covered by their policy.

• You Should Re-Evaluate Your Coverage Every Year-If you’ve planned your policy to cover high-end items like jewelry or a fur coat, check the value of those items each year to make sure you’re not paying for more coverage than you need.
• Traditional Policies Don’t Cover Some Things you might think they should cover for example damage caused by earthquakes or floods — and many may not cover even basement flood damage if that damage is caused by sewer backups. We should review your coverages.
• Know What You Need to Make a Claim-Be sure you understand what materials you’ll need if you have to prove a claim after fire or theft. That is why you need to deal with a local agent.