Over the holidays you may have received jewelry, electronics or an expensive keepsake. The Insurance Bureau of Canada (IBC) is encouraging Canadians to protect these items, and also use this period to revisit their home inventories and home insurance policies.

"A home inventory is an important document in case you face a theft or damage to your home's contents," said Ralph Palumbo, Vice-President, Ontario, IBC. "Prepare a home inventory and follow IBC's top 10 tips to protect your personal property."

Follow the IBC's tips for protecting your possessions in the New Year:

• Review your insurance policy to ensure you're adequately covered.
• If you rent, be sure to have tenant's insurance, as a landlord's policy tends not to cover your personal belongings.
• Understand your policy, and ask your insurance provider questions about areas that require clarification.
• Search out discounts which can help lower your premiums.
• Many discounts are available if you take measures to reduce risk. Ask your insurance representative about these steps.
• Update your home inventory once a year, or when you purchase or receive new items as gifts.
• Take photos or a video of your home's contents.
• When compiling your inventory list, include the approximate replacement value of items. Also document specific information, such as the item's make, model and serial number.
• If you have works of art or jewelry, consider hiring an appraiser to determine their value.
• Keep your home inventory list and accompanying photos and video stored in a safety deposit box.

Fundy Mutual Insurance Company is headquartered in Sussex, New Brunswick, with additional offices in Hampton and Rothesay, New Brunswick. We have been serving the insurance needs of New Brunswickers for over 70 years. As a member owned and directed company, we are committed to delivering competitive insurance products in a personal manner, with a unique focus on prevention of loss for the protection of people in our communities.