Renter’s insurance is like home insurance. It covers damage to your contents, comes with personal liability coverage and provides additional living expenses. As Canada’s Insurance Broker, Western Financial Group has access to our nation’s top providers. Remember, you’ll need your own renter’s insurance policy - your landlord’s won’t cover you. With us, you’ll get the right coverage for what life can, and does, throw at a renter.
Your renter’s insurance policy reimburses you for damaged or stolen possessions. It covers your belongings in your home or if you take them with you when you leave for work, school, or to travel. You may believe that your stuff isn’t worth much but we’re here to say that it is; we insure based on a “new for old” basis. High value items? Speak to our licensed experts about scheduling these to ensure proper coverage under your policy.
Your renter’s insurance will cover you against the resulting expenses if you were ever held legally liable for injury to another person or unintentional damage to others’ property. It’s one of the most valuable coverages under your policy. Why? Costs associated with these unforeseen circumstances can be drastic. If you were found to be legally liable, this coverage protects your financial well-being.
If your residence becomes uninhabitable following an insured loss, you will need to move out while repairs are being done. Additional living expenses coverage provides for the cost of re-locating to a short-term rental or hotel and covers storage, moving, eating out, pet boarding etc.
Why do I require third party liability as a renter?
Personal liability not only protects your guests but also your landlord’s property. If you are liable for damaging the rental suite, for example, accidentally starting a fire while cooking, your renter’s insurance will help you cover the cost of repairs. If you need to move out while repairs are taking place in your home, your living expenses would also be covered.
What else does renter’s insurance cover?
Renter’s insurance generally includes coverage for: