Imagine disaster strikes your home. Perhaps a fire, flood, or theft leaves you without your assets and belongings. You are likely in a state of shock. You are upset and angry at losing the things that make up your home.
Your insurance carrier will ask you to prove the value of your assets. So before disaster ruins your home, take a detailed inventory of all of your belongings.
It’s amazing how much stuff builds up over time!
There are a number of online resources that can help you with your personal inventory. The Insurance Bureau of Canada posts a helpful personal property inventory worksheet. If you are just moving into a new home, add all of your belongings to your inventory worksheet as you unpack.
It’s also recommended that you take photographs and video footage of everything throughout your home. Be sure to take close-up photos of serial numbers and receipts.
Store your inventory list, photos, and video footage in a safe place outside of your home. Warranties and instruction manuals also serve as proof in case an insurance claim needs to be made. You may want to consider purchasing a fire-proof safe to store copies of your paper documentation.
You should send your completed inventory list to your insurance broker or agent to ensure adequate coverage.
For more information, check out the resource centre on the Insurance Bureau of Canada’s website.
