Standard insurance policies include contents insurance, which offers protection for the personal belongings on your property. Contents insurance protects you against loss, theft, or damage to your personal possessions, but the standard limit of insurance may not cover you completely.
While most standard policies provide sufficient coverage, here are three reasons why you should upgrade your contents insurance:
- Your Contents Insurance May Not Offer Total Protection- At Jamieson-Hilts Insurance Brokers Ltd., we’ll take the time to review your policy and determine if your current limits are enough for your needs. Considerations include who is living on your property (only you and your dependents are covered in your contents insurance), and what is included on your personal property inventory (or if you even have one).
- You Have Prized (and High-Value) Possessions – It is imperative to find a contents insurance policy specific to your personal property inventory, especially if you have rare antiques, collectibles, and fine jewellery. Without a detailed inventory of your prized possessions on record, you run the risk of not receiving full compensation in the event of loss or theft if your limit of insurance doesn’t account for the full value of your lost possessions.
- Business Property- While a contents insurance policy covers personal belongings in your home, coverage is limited and may not account for possessions related to your business. If you have an agri-business, for example, or your home is located on your farm property, anything related to “working from home”, including business-related equipment, may require additional coverage.
If you’re interested in learning more about contents insurance or have questions about your existing coverage, give us a call today. We’re trusted insurance brokers in the Woodstock, Ontario area and are always available to offer support.