This is the right time to re assess your home insurance. It may not be on your list of resolutions, but for saving money to beginning of the new year is the perfect time to take home insurance, stock of home content and to re assess home insurance.

With all expensive holiday gifts or big-ticket purchases, many lucky lovebirds. These extra iteams might not be covered fully under you policy. To cover at your home insurance coverage to ensure that you have enough protection for your belongings.

For instance, some home insurance policies automatically cover pieces of jewellery up to $2,000 and require you to pay your deductible. If you have items worth more than that, call your insurance provider to discuss your supplemental insurance options.

Accurate assessment of items is important. The Insurance Bureau of Canada recommends having your jewellery appraised and keeping that appraisal up to date. If your items appreciate, you’ll need to update your policy to reflect the replacement value.

As for those new electronics or other high-end items, keeping a thorough, up-to-date inventory of them and a record of their value is the best way to protect your home’s contents. Making a list, taking photos or recording a video of your belongings is time well spent.