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Personal Property Calculator: How much contents coverage do I need?

Your stuff is worth more than you think.

Time and again, homeowners and renters undervalue their belongings. But it's important to estimate it correctly when it comes to your home insurance's personal property coverage. So what is personal property coverage and how can BCAA's Personal Property Calculator help? Read on to learn more.

If a fridge is old and the couch is a hand-me-down, people think their items are hardly worth anything. If there was a fire or earthquake and their stuff had to be replaced, many people figure it wouldn’t cost much money.

However, there’s a difference between value and replacement value. Just because you found a mid-century modern dining table for $100 on Facebook Marketplace, doesn't mean you can find a decent replacement for $100. You may never find a similar used table online so you might have to buy a new one. So, the replacement value for damaged or stolen furniture and appliances is usually higher than you think. And every insurance policy needs to know your replacement value before they’ll give you personal property coverage.

What is personal property coverage?

This coverage helps you pay to repair or replace your stuff in an unfortunate event that results in insured damage or loss, like a fire or theft. Personal property coverage usually includes:

  • Furniture, electronics, clothing, kitchenware, appliances not built into the home, artwork, tools, sports gear, patio furniture, toys, luggage.
  • It’s important to note some items (gift cards, bikes, cannabis plants, jewellery, watches, luxury goods, antiques) have special coverage limits.
  • Coverage does not include vehicles or items owned by tenants' you may have (tenants will need their own Renters Insurance).

Minimum coverage for personal property is $40,000 for our BCAA Home Insurance plans ($20,000 for renters). However, every home is different. For example, the average replacement value for items in a standard two-bedroom home is estimated at $70,000!

Does $70K sound high or low to you? Let’s add it up and find out!

To help you figure out the replacement value of your possessions, we’ve created the Personal Property Calculator.

Use this calculator to add up the correct replacement value of your possessions so you can determine the right personal property coverage you need in case of a loss.

This calculator will save you time and hassle when completing a condo or renters insurance quote as these policies require you to choose a coverage limit for your personal property, and by using this tool, you'll be able to figure out which limit offers the best protection for you.

Once you've calculated the replacement value of your possessions, this will guide you to the correct coverage limit to select to ensure your things are protected from the unexpected. If you choose to protect your home and belongings with BCAA, have peace of mind knowing BCAA Home Insurance paid out on 95% of claims related to fire, water, weather and theft.*

View into a home's garage

How to use the Personal Property Calculator

Start by clicking the button below to open the Personal Property Calculator on your computer or phone.

Calculate my personal belongings

Now, begin in one area or room of your home and document or photograph each item. Estimate what you think it would cost to replace all your belongings brand new – not just what you think you could sell them for – and round it to the nearest $1,000. A great place to start is at your front door, then go room by room to the back of your house and property. The calculator includes prompts to help you identify everything that would need to be covered in the event of a loss.

Pro tip: On your computer, open browser windows for Amazon and companies that sell furniture, beds, rugs, window coverings, artwork, bikes, tools, appliances and everything that you might some day have to replace and check the prices as you go.

We recommend you review your personal property annually, especially after holidays or birthdays when you may have received a high-value item as a gift. 

Interior of a home kitchen with white tile and dark blue cabinets

Why should I document or photograph my items?

We highly recommend you take photos and videos of everything you own and write brief descriptions for each item. The descriptions should include the estimated price to replace them. If you’re unsure, search the item (including make and model) and trace it back to its makers. Should the unexpected happen, this information will be invaluable to make things go smoothly when submitting your insurance claim.

Finished your calculations? Time to get you covered

Now that you’re more confident with the value of your stuff, your next step is to get a home insurance quote or check that your existing coverage has a limit you're comfortable with. BCAA Home Insurance offers a range of customizable coverage options to ensure you’re only paying for what you need.

If you’ve got a particular item that needs extra protection, like an engagement ring or expensive bike – beyond what our standard limits offer – you can 'schedule' an item when you buy BCAA Home Insurance online or with an agent. This means you pay an additional premium to insure a particular item up to its actual value (above the standard limit available).

Choose BCAA Home Insurance and save 5% when you purchase online. Want to save even more? BCAA Members can save up to 20% on their BCAA Home Insurance policy**. Get a free quote now!

If you’re already a BCAA Home Insurance customer, visit the Home Insurance Portal in your MyAccount or check your policy document to view your limit. If you think you need to update it, chat with your insurance advisor.


*From 2019 to 2020, BCAA paid out on average 95% of home insurance claims related to fire, water, weather and theft. Past performance is not a guarantee of future results. Home Insurance is sold through B.C.A.A. Holdings Ltd. dba BCAA Insurance Agency, a licensed insurance agency, and underwritten by BCAA Insurance Corporation.
**BCAA Member savings on insurance products are only available with Basic, Plus, or Premier Membership plans. For full details, please visit