Five steps to make sure you ’ re covered when you need it most
The inside story
Five steps to make sure you ’ re covered when you need it most
By JaneT gyenes
IllustratIons by remIe geoFFroI
’ Tis The season for gifTs galore — goodies stashed under trees or in closets , waiting to be wrapped . With more valuables in your home than other times of year , it ’ s the ideal occasion to take a home inventory . An accurate and detailed list of everything in your abode will help insurance cover your prized possessions in the event of burglary , fires , floods or other maison mishaps .
Here ’ s how to take stock and make sure your coverage doesn ’ t fall short when you need it the most .
Keep your policy current “ Keeping files up to date can help prevent losses or surprises if something were to happen ,” says Steve Kee , director of media and digital communications for the Insurance Bureau of Canada . Kee recommends taking a complete inventory of your home ’ s contents annually , or more frequently if your circumstances change .
Over time you accumulate more possessions or perhaps purchase pricey items like jewellery and artwork . “ I always look at things and think , ‘ What is the worst case scenario ?’” Kee says . “ You just want to make sure your insurance is reflective of your current situation .” For those big-ticket items , check your policy ’ s limits ; you might need extra coverage . »
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