If a burglar gains access to your home, are your valuables safe? What about a fire or a flood? Have you taken the necessary steps for protecting your belongings? If not, here are some important tips to follow.
Purchase an Insurance Policy
First things first, you need to have an insurance policy that will provide coverage for all of your personal belongings in case they are damaged or stolen. If you own a home, check your home insurance policy to see if this is included. Most policies will have some form of coverage, but with limits. To ensure you have adequate protection, have your insurance broker review your policy and provide recommendations if the coverage is insufficient.
Renters also need to purchase insurance to protect their belongings. Unfortunately, too many tenants ignore this because they believe their landlord’s policy or condo association’s insurance covers them. This is a common misconception. Both of these policies only cover the physical structure of the building, not their personal belongings inside. Only tenant insurance will give you the protection you need for your personal property.
Document Everything You Own
When disaster strikes or a break-in occurs, you need proof that the items in your home were damaged or stolen. This requires proof of ownership. Without evidence that you had a 70” TV in the first place, you could miss out on the opportunity to have them replaced by the insurance company. To provide proof of ownership, you’ll need to create a detailed inventory list of all the assets that you own and then take pictures to back it up. Photos are also a great way to show the condition of your more expensive items. If you have kept the receipts or warranties, you should also store these in a safe location so that when the time comes, you have all the proof you need for the insurance company.
Lock Up Valuables
When a burglar enters a home, they go straight for the valuables that they know will quickly sell to gain an easy profit. This is why any expensive jewelry, one-of-a-kind antiques, art pieces, and other valuables should be stored in a secure place, such as a safe or 24/7 monitored storage locker.
Need an Ottawa insurance broker to make sure you have all the coverage you need for protecting your belongings? Call us at MLS Insurance today.