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Completing a household inventory form can help homeowners determine if they have enough coverage for all their personal possessions as well as assist in the event of a claim situation.  Most inventory forms can be obtained either from your Broker or online. An insurance claim is often the result of a stressful situation. If you’ve lost all your possession in a fire, an existing home inventory list can save frustration and expedite your claim to get you back on your feet again. 

Completion Tips:

• Include the name of insurer; name of broker; insurance policy number; coverage details; policy expiration date and contact information.
• Walk from room to room cataloguing items. Be sure to include serial numbers if applicable.  These could help identify your items if stolen.
• Remember to record items stored in closets, cupboards, the attic, shed or garage.
• The information can be supplemented with a video or photos.
• Most policies limit the amount of reimbursement for theft of valuable items such as jewellery, artwork, coins, guns, silverware, and furs. If you have these items then speak with your broker about purchasing additional coverage.
• Once the list is complete, next to each item include where and when it was purchased; the purchase cost and the cost to replace the item today. You may need to consult catalogues or store websites. You can also total each room to see its overall value.
• Keep a copy off-site to protect it from fire or damage. The best place is a safety deposit box with a second copy provided to your Broker.
• Remember to make changes with large purchases to ensure the information is up-to-date.

After the list has been completed talk to your insurance Broker to ensure you have adequate coverage