6.2.6 Compensation

How your insurer will compensate you following an insured loss is described in your policy. There are two levels of compensation you can buy insurance for:


Know what you own

Make a complete list of your possessions and their value, and update it once a year. Your insurance company can provide you with a record-keeping form, or you can create a room-by-room record by photograph, video or audio tape. Be sure to include makes, models and serial numbers, and keep receipts for major items. Store your inventory in a safety deposit box or another secure location away from your home. You can download a record-keeping form from the Insurance Bureau of Canada website by clicking on the Home Inventory link.

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