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					                                                             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
                                               professional appraiser
                                               so that the insurer
                                               knows what level of
                                               coverage to set.

				
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posted:3/23/2010
language:English
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