What does tenant insurance cover?

Jan. 10, 2019. Tenant insurance policies are specifically formulated with those in mind who rent apartments, condos, or houses, and thereby cover items that other policies may not. Below, you'll find information answering "what does tenant insurance cover?"

Your belongings

It covers your belongings against burglaries, robberies, limited flooding, hail, wind, fire in the neighbouring apartment's kitchen, vandalism and so forth. So long as it belongs to you and is in your rented space, it is covered.

If hail damages the roof and windows, your landlord's home insurance policy covers the building repairs, and your tenants insurance policy covers the replacement or repairs of items that might have been damaged. For example, patio furniture may be covered in the event of this type of damage.

To ensure that your items will be covered, it’s necessary to discus with your insurance provider about speciality items that you may own. For example, if you have a specialist art or jewelry collection, inform your insurer so they can calculate your premiums to cover you properly. As such policies usually cover a percentage of your belongings even when they are outside your rented property, ask your insurer for details.

Alterations to the property

If you make alterations or improvements to the property with the landlord's permission, these are covered too. These include things like carpets, flooring, expensive light fittings, built-in shelving, and upgrades.

Liability coverage

Liability coverage pays for the cost of defending you in a lawsuit when someone is injured on the property, or if one of your possessions causes damage. For example, if your pet destroys the carpet, or if one of your own appliances causes a fire (like a curling iron).

As with all policies, those with the higher premiums provide you with the highest liability coverage against any damage you, your kids, your pets, or your appliances may accidentally cause.

Forced absenteeism

In event of large-scale damage to your rented home where the necessary repairs render it unlivable, your tenant insurance policy may cover hotel or BNB accommodations, food, laundry, and other essentials while you’re out of the home.

All risks versus named perils

As with any other policy, you can normally choose between an all-risk policy that covers you against all perils, or a limited policy that covers you against only those perils explicitly listed on it.