When was the last time you updated your home inventory list?

Whether you increase the value of your home through a renovation or purchase expensive art, jewellery or other items, always notify your insurance agent - and always have a home inventory list.

A home inventory is a list of the high-value items you own. The list can be categorized by room, collection, or other relevant criteria. The main reason to have a home inventory list is to be able to prove your loss and get paid for your losses by your insurance company if you have to make an insurance claim.

5 Tips for Making a Home Inventory:

1. Keep the bills, receipts, warranties and instruction manuals for your more valuable possessions – these can serve as proof of ownership.
2. Store your records and receipts in a safe place, such as a safety deposit box or a secure online option.
3. Review your home inventory every year and when you make new purchases. The value of your possessions will increase the more you acquire.
4. Take photographs or video footage of all of your valuable possessions and store in a secure location.
5. Consider storing records of credit cards, taxes, government and other important household documents in an off-site location.

A thorough and current inventory of your home's contents and associated value will help confirm adequate coverage and, in the event of a loss, proper compensation.  Download your copy here: