home insurance

Spring Checklist Home Style

How do you prepare for the unexpected? Part of good planning is good list making and that is no exception when it comes to insurance planning.Home_checklist-2015

While you’re tidying up and tucking away during this year’s spring cleaning, make a list of what makes up your home. What’s new, what can’t you live without or would need to be urgently replaced if your home is damaged or destroyed and most importantly how much are each of those items worth.

Take pictures or videos, keep bills, receipts, warranties and instruction manuals for your more valuable possessions. They can serve as proof of ownership. Make sure you print and store your list with your receipts in a safe place (like a safety deposit box) or save it to an online account so it’s always accessible.

And while list making is good, don’t forget to make sure your insurance agent knows about those new items or renos. They’ll know best how to make sure you’re covered.

Not sure where to start creating your own home insurance checklist? Here’s a simple form that you can fill out on your tablet or print out. Click here for the Wawanesa Personal Property Inventory Checklist.

For more information on home insurance checklists go to the Insurance Bureau of Canada

Renting Peace of Mind

Whether you’re generating extra income by renting a room or portion of your home – or renting in order to save up for your first home purchase – there are lots of things to think about. When doing so, don’t forget to keep in mind the role that insurance plays in keeping you protected.

landlord-renters-guide-bcAs a landlord:

  • Inform your insurance broker in writing before your new tenant/student moves in. Failure to do so may void your home insurance policy.
  • Your policy only covers your property, contents and personal liability for yourself, spouse and dependents – not your tenant’s or boarder’s

As a tenant, renters insurance:

  • covers the replacement of your items in case of loss
  • covers transition costs like food, shelter, moving expenses after the insured incident
  • protects you and your family from lawsuits in case any damage or harm to the building, guests or other building residents is blamed on you
  • some landlords will request to see a copy of your insurance as part of their policy requirements

For more information on the Residential Tenancy Act click here.

Information courtesy of the Insurance Bureau of Canada