Some insurers offer discounts to loyal, long-term policyholders - a factor worth considering if you have been happy with your insurer's prices and service.

Don't underinsure the contents of your home. Estimate the value of your possessions and update your inventory at least once a year. Remember to include taxes. If the value of your possessions is greater than the amount of contents coverage specified in your policy, have it changed accordingly. Minimum contents coverage for home owners is normally a percentage of the building amount.

Resist any advice to over-insure the building by including the market price of the building site itself in the insured value. Whatever the limits of your policy, however, you can never claim for more than the actual loss to insured property. "Insured property" does not include the market value of the underlying land.

An up-to-date inventory of your possessions and a record of their value will be helpful to you, your insurer, police and others in the event of a burglary or fire. After a loss, it could be difficult for you to recall the details of things that are now damaged or missing.

Some people like to make a drawer-by-drawer, room-by-room video recording of their possessions; some use a regular camera. An audio cassette recorder could be useful for making a spoken list of collections - books, tools, stamps, and so on. This would capture more detail than you could achieve with a camera. Written or typed descriptions are useful, too; be sure to include makes, models, serial numbers or other identifying marks. Keep purchase receipts for major items.

Store your inventory records in a safety-deposit box or another secure location away from your home.