(NC)-Plan now to make a detailed list of all your household possessions and keep the list somewhere safe. Such a list will prove invaluable if you ever need to file an insurance claim.

Don’t wait until you have damaged, lost, or stolen property to assemble all the details, says Financial Services Commission of Ontario (FSCO), the agency responsible for regulating insurance in the province. The stress and anxiety of the moment will make it difficult for you to remember all your belongings.

Here are some tips suggested by FSCO to help with your list:

. Go through your house, room by room, including the garage, basement, attic and off-premises storage unit.

. Write down the contents of each room, including clothes, jewelry, floor and window treatments, sporting equipment, furniture, electronics and cabinetry, appliances, artwork, antiques and other collectables. Where possible, include the manufacturer and brand, the serial number, the method of acquisition (purchased, inherited, or gift), plus the approximate cost/value and date acquired.

. Take photographs or a video recording of each room, with valuable items prominently displayed.

. Attach photocopies of receipts and appraisals for valuable items and other important family documents, such as your wills, passports, and credit cards.

. Store your list, along with any supporting photographs, videos and documents in a fireproof and watertight safe or safety deposit box.

. Establish a simple method for recording all new major purchases and periodically update your inventory.

More information on insurance is available online at fsco.gov.on.ca.

Credit: www.newscanada.com

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