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Insurance Bureau of Canada/pe/Home/Risk Management/Home Inventory

Home Inventory

​A current inventory of your belongings makes it easier to file a claim. Keeping your records off-site is wise in case a fire or flood damages your property. Consider updating your home inventory each spring and advise your insurer of any major purchases.

Why Keep a Home Inventory?

Severe weather is on the rise across the country, making it more critical than ever to ensure that your property and contents are properly insured. With flooding and sewer backup occurring more frequently, it's crucial to be prepared for the unexpected. If your home is damaged or destroyed, it's important that it has been insured for its accurate replacement value.

A thorough inventory of your home's contents and the associated value of the contents will help you and your insurance representative confirm adequate coverage. If you need to make a claim, your home inventory will help you receive proper compensation.


5 Tips for Making a Home Inventory

Print a copy of IBC's Personal Property Inventory Checklist or download an Excel sheet to track your possessions room by room. In taking stock of your contents, consider the following.

  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.
  5. Store records of credit cards, taxes, government and other important household documents in an off-site location.

When to Create and Update

During spring cleaning as well as before a move are ideal times to prepare or update your home inventory list. When you increase the value of your home through a renovation or purchase expensive furniture, art, jewellery or other valuable items, notify your insurance professional.

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. Learn more about when to update your insurance.

What Your Insurer Needs for a Claim

Losses happen. If your property or contents are damaged, contact your insurance representative as soon as possible. Have on hand reference materials such as:

  • Insurance policies
  • Home inventory or similar records
  • Credit card records (some creditors provide limited insurance for purchases)
  • Photos