Homeowners invest in our personal belongings—furniture, electronics, jewelry, or collectibles. But are they truly protected under our home insurance policy? Many assume that a standard home insurance quote covers all personal belongings, only to find gaps when filing a claim.
In this blog, we’ll walk through how to ensure your home insurance quote in Calgary provides the right level of coverage for your valuables.
What Is Personal Belongings Coverage?
A home insurance policy typically includes personal property coverage, but not everything is automatically covered to its full value. There are two main coverage types:
- Replacement Cost Coverage: Reimburses you for the full cost of replacing an item at today’s prices.
- Actual Cash Value Coverage: Takes depreciation into account, meaning you may receive less than what you originally paid.
Your policy may also have coverage limits on high-value items like jewelry, electronics, and collectibles. Understanding these limits helps in determining if additional coverage is necessary.
Assessing Your Personal Belongings
Before getting a home insurance quote, it’s essential to assess what you own and its value. Here’s how:
✔ Conduct a home inventory: List all major possessions, including brand, model, and purchase price.
✔ Take photos and videos: Visual proof can be invaluable during claims.
✔ Keep receipts and appraisals: High-value items may require proof of ownership and worth.
This step ensures you’re getting the right amount of coverage and helps streamline the claims process.
Additional Coverage for Valuables
If you own expensive items, your standard home insurance may not offer sufficient coverage. Consider these options:
- Scheduled Personal Property Coverage: This add-on provides extended protection for high-value belongings, ensuring they’re covered at their full appraised value.
- Endorsements for Specialty Items: If you own unique valuables like antiques or rare collectibles, a policy endorsement can offer specialized coverage beyond standard limits.
- Riders for Electronics & Jewelry: These policies protect items like engagement rings, designer watches, or high-end cameras against loss, theft, or accidental damage.
Adding extra coverage ensures you’re not underinsured in case of unexpected losses.
How to Compare Home Insurance Quotes in Calgary
When looking for a home insurance policy, it’s essential to compare quotes thoroughly. Here’s what to consider:
Coverage Limits
Ensure the policy includes sufficient protection for personal belongings.
Exclusions & Restrictions
Some policies may exclude specific losses, such as floods or high-value items beyond a certain amount.
Claim Process & Payout
Look for insurers known for hassle-free claims and fast processing.
Asking the right questions and reading the fine print prevents unpleasant surprises.
Conclusion
Your home is more than just a structure—it’s filled with valuable possessions that deserve protection. Ensuring your home insurance quote covers personal belongings & liability coverage in Calgary requires a proactive approach, from assessing your valuables to choosing the right coverage. Let us help you find the perfect coverage for your home and valuables. Contact us today for a free quote!