Contents values and replacement questions

Identify the item before entering a price

Use an item ID, original room, description, quantity and existing purchase/ownership information. Note whether the figure is a purchase price, a current replacement quote or an owner estimate. Those figures answer different questions.

The contents-inventory tool multiplies your quantity by your entered unit estimate. It does not research prices, apply depreciation, determine coverage or calculate a payable settlement. Exported totals should retain that description.

Ask how the actual policy values the item

Terms such as replacement cost and actual cash value need to be read in the actual policy and claim position. Ask what evidence is needed, what conditions apply to replacement and which limits or deductibles are relevant. This guide does not assign a depreciation percentage.

A restoration disposition and an insurer valuation are separate records. A recommendation to replace an item does not by itself determine the amount payable. Keep the technical reason and claim decision linked but distinct.

Record an estimate transparently

Keep a revision trail

If an item description or estimate changes, retain the earlier record and the reason. For specialist or high-value contents, ask whether separate appraisal or conservation expertise is appropriate. Do not turn a sentimental value into a promised cash amount.

References and scope

1. Wildfires and property insurance — Government of Alberta.
   Policy wording and limits vary. Coverage, valuation and payment decisions require the actual policy/claim.

Source links checked September30,2026. General guidance and original planning questions do not establish the condition, exposure risk or clearance of a property.