Renter's insurance protects your property from theft, fire and other sudden and unforeseen events. It also provides coverage for damage to others or their property for which you are found to be at fault. No matter if you rent an apartment, condominium or house, you should invest in renter’s insurance. While it’s not mandatory, you’re securing your future financial stability.
People often say, ‘my stuff isn’t worth insuring,’ but it’s not about the current value of your property.
Our renter’s insurance works on a replacement cost basis “new for old”, meaning your 20-year-old couch will be replaced with a brand new one of similar make and quality.
Protect yourself and get back to the same position you were in before crisis struck.
The liability coverage will help protect you if you are being sued for personal injury or property damage — circumstances in which you’ve been deemed negligent.
Why you may need it
- Protect yourselves and family members before unforeseen problems arise.
- Canadians know that anything can happen these days, and when it does, renter’s insurance offers a direct path back to normalcy.
- If you’re forced from your rental location due to an insurable loss, a portion of the renter’s insurance policy (additional living expense) provides coverage for your increased cost of living because of being displaced.
- We also offer optional coverage for natural disasters, earthquakes and flood among others.
When purchasing this policy for yourself, you gain the advantage of insurance experts who know and understand renter’s insurance.
What you need to know
- When making a claim, have receipts and photos of valuables available to show ownership of items.
- The dollar amount you regularly spend on food in a month could surge if you find yourself in a hotel without a kitchen after an insured loss. Extra fees, including meals out, could be covered as part of the renter’s insurance policy’s additional living expense coverage.
- Traveling the world? Renter’s insurance will cover your personal belongings wherever you go. If you’re temporarily renting a location while on vacation, your renter’s insurance policy still applies.
- Your landlord’s insurance will only provide coverage for their own property. Your property will not be covered. That’s why having your own renter’s policy is critical.