Limits

Your home insurance policy pays out a maximum amount, or limit, when it comes to certain property. In case of a loss, your indemnity will never exceed the amount stated under the policy. If you feel that the limits are lower than the value of some of the items you own, talk to your home insurer or broker and ask for a higher coverage for them.

Property for which coverage is limited under most insurance policies, regardless of the type of loss covered

Goods

Limits

Animals

$1,000

Boats (whether assembled or not, including their fittings, equipment, accessories, engines, and trailers)

$1,000

Gold or silver bars, bank notes and cash (including electronic wallets, plastic money, and gift cards)

$200

Software

$1,000

Lawn tractors, equipment trailers (lawn mowers, snow blowers, and equipment trailers, including their equipment and accessories)

$5,000

Securities

$1,000

Personal property used for professional activities

$2,000

Bicycles (including equipment and accessories)

$1,000

Sports and artistic personality cards

$1,000

Wine and spirits

$5,000 (with a maximum limit of $100 per container)

Motorized personal transport device (including its accessories)

$1,000

Property for which coverage in case of THEFT is limited under most insurance policies

Goods

Limits

Jewellery (including gemstones or fine stones, pearls, and watches)

$1,000

Furs

$1,000

Manuscripts/stamps/coins

$1,000

Objects made of silver or gold

$5,000

Audio and video media (including CDs and DVDs)

$1,000

Works of art

$5,000

Collections

$1,000

Note: The amounts indicated are for information only. Your insurance contract limitations could include higher amounts of insurance. It is worth checking it out.