H O M E I N S U R A N C E
...for high value items?
Knowing the value of the contents of A THOROUGH HOME INVENTORY WILL Depending on the type of property and
your home is vital to being properly TELL YOU WHERE YOU STAND how much information you can provide,
insured. Your broker can help you ﬁnd One of the best ways to know if your an estimate of value can be determined.
the tools and resources you need. belongings are covered is to do a complete There is a fee for this service.
Take the time to ensure that your home-contents inventory and review it
most precious things are protected. with your broker. A home inventory will TIPS ON FINDING A PERSONAL
help you itemize your losses if you need BELONGINGS APPRAISER
MOST POLICIES LIMIT PAYMENTS FOR to make a claim, and it is a good way to Start by asking your broker for a
INDIVIDUAL ITEMS AND CATEGORIES test if your overall coverage level is right. recommendation. Make sure that the
It is common practice for policies that You should include a list of contents, a appraiser you hire is professionally ac-
cover personal property to have special brief description or photograph and an credited, has relevant experience and will
limits on the amount that will be covered estimate of the replacement value of each provide a written report that meets the
for individual items or items within speciﬁc item. Consider making a video of your standards of the profession.
categories. If you require the full replace- rooms, cupboards and shelves and store
ment or market value to be insured, you it off-site.You can also take advantage of
will have to arrange for additional insur- pre-made inventory tools such as the IBAC
ance and pay the appropriate premiums. Home Inventory Form available online, at
The rationale behind this practice is to www.nbinsurancebrokers.ca.
ensure that everyone is provided with a
base level of insurance at reasonable rates WITH A PROFESSIONAL APPRAISAL, YOU
and that those with high-value items cover CAN ARRANGE THE EXTRA INSURANCE
their own extra costs. Examples include: YOU NEED
• Jewellery, watches, gems and furs If you have high-value items that exceed
• Coin collections the limits in your policy and you want to
• Silver and gold ware have them separately insured, you will
w w w. n b i n s u r a n c e b r o k e r s . c a
• Money or bullion likely have to have the
• Business property items valued by a
so that the insurer
knows what level of
coverage to set.