Hi Leigh! You need homeowners insurance, at least in NE Ohio, in order to get your mortgage loan approved, so that is the easy part. Write a check and be protected. The part many new homeowners miss is itemizing their belongings. Do the itemization the easiest way for you...be it on paper, with a digital camera or a video camera. If you have receipts for purchases of things like art and jewelery, they are needed for authenticity, which I understand helps you get the insured amount. (This also means you might want extra insurance coverage for these items). Then make sure you have a separate safe storage place for these items...out of your home. You can get a family member to keep them or get a safety deposit box. But I truly hope everyone does this. When a tragedy like a house fire strikes, that is not the time to try to recreate your belongings.