How the calculator works
Contents coverage is the part of a home or tenant insurance policy that pays for your belongings after a covered loss, such as a fire or a theft. It's easy to guess the amount, and easy to guess low. The calculator helps you build the figure from what you actually own.
For each category, enter what it would cost to buy those things new today. The calculator adds them up and rounds the total up to the next $5,000. For example, a total of $38,200 suggests $40,000 of coverage.
| Category | What to count | Watch for |
|---|---|---|
| Furniture | Beds, sofas, tables, shelving, rugs | Large pieces add up quickly at new prices |
| Electronics & computers | TVs, computers, tablets, consoles, speakers | Often subject to special limits |
| Clothing & shoes | Everything in closets and drawers, coats and boots | Easy to underestimate |
| Kitchen, dishes & small appliances | Cookware, dishes, cutlery, small appliances | Easy to overlook |
| Jewellery & watches | Rings, watches, heirlooms | Often subject to special limits |
| Sports, bikes & hobby gear | Bikes, skis, camping gear, instruments, tools | Bikes often have special limits |
| Books, art & decor | Books, framed art, lamps, collectibles | Valuable pieces may need to be listed |
| Everything else | Bedding, linens, toys, seasonal items | Include a storage locker or shed |
Replacement cost or actual cash value
- Replacement cost pays what it would cost to replace an item with a similar new one, without a deduction for age or wear.
- Actual cash value pays what the item was worth at the time of the loss, after depreciation. An older laptop may be worth only a fraction of a new one.
This calculator uses replacement value, which matches a replacement cost policy. If your policy pays actual cash value, a claim may pay less than the amounts you entered. Check which one your policy uses, and whether conditions apply, such as replacing the item before you're paid in full.
Special limits, riders and floaters
Many policies cap what they'll pay for certain kinds of items, per item or per category, even when your overall coverage is higher. Jewellery, bikes and electronics are common examples. If you own anything worth more than about $1,000, list it for your insurer and ask whether you need extra coverage, often called a rider or a floater.
Liability coverage is separate from contents. It protects you if you're responsible for injuring someone or damaging their property, and it isn't part of this calculation. Our guide to tenant insurance in Québec explains both.
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