In the event of a loss, you will be asked to provide the claims specialist with a complete inventory of the property damaged or destroyed. Complete this inventory and keep it in a safe place, preferably in a digital form that can be accessed from outside of your home (i.e. online storage space). This will ensure you still have your inventory, even if your home is completely destroyed. From time to time update it as new items are added to your contents or old items replaced with new and more expensive ones.
How to complete this Home Inventory Form
Most homeowners carry replacement cost insurance protection on their household contents. If your policy covers on this basis, you should list today’s replacement cost for all items of similar kind and quality. If you do not carry replacement cost coverage, you should list the actual cash value of all items which is today’s replacement cost less an allowance for depreciation depending on the condition and age of the item. Your insurance policy has special limits of insurance that apply to items such as jewellery, furs, securities, stamp and coin collections, boats and motors, silverware, etc. Contact your Red River Mutual broker to arrange specific insurance coverage for these items.