How much insurance is enough to cover your home and possessions? Creating a home inventory will help you gauge how much coverage you need. It will also build a thorough record of your belongs in the event you need to make a claim.
- Note the approximate replacement value of each item, along with makes, models, serial numbers and other identifying marks.
- Keep receipts for major items, if possible.
- Draw up a list of all the items in each room and remember to update it as needed. You can also take photos or videos your belongings.
- Store your inventory records in a safety deposit box or other secure location away from your home. This will simplify things should you need to file a claim.
For a complete home inventory worksheet, download Info Insurance's Personal Property Inventory spreadsheet.
Source: Insurance Bureau of Canada