Tenants Insurance
Renting a home has many benefits, such as minimal commitment and not paying for repairs. But, it also has risks such as natural disasters or accidental damage. Although you’re given full privileges and have made it your own, you’re still living in a rental unit. While fixing a leaky faucet or re-paving the driveway aren’t your responsibility, you still need to protect yourself and your belongings. This is where things like tenants insurance, liability coverage, and property insurance are useful. In many cases, landlords make tenant insurance mandatory.
Comprehensive Coverage
Although it’s not legally required, you need tenant insurance as a condition of many leases. The good news is that it’s not a huge expense, and you get many benefits. Read on to learn more about what tenants’ insurance covers, exactly.
Liability Insurance
Liability insurance protects you and everyone in your home in case you’re sued. This includes things like someone in the home becoming injured, or if you cause accidental damage.
Home Improvements
Tenants insurance covers some aspects of home improvements. Specifically, it covers any damage that’s done to improvements that you’ve made over the duration of your lease. This includes things like new lights, cupboards, organizers, or other small things like that.
Additional Expenses
Tenants insurance in Ontario has you covered if something happens and you can’t stay in your home for whatever reason. You’ll be covered for extra costs associated with a hotel or wherever you choose to stay until the issues are resolved.
Identify Theft
Tenants insurance also covers identity theft! You and anyone on the policy should your identity get stolen. Covered expenses include legal fees, lost wages, and other services related to sorting out the issue.
Personal Things
This aspect solely benefits you as the renter. Everything you own in the home that could be taken out and moved, is covered against damage, break-ins, and theft. This includes things like electronics, entertainment equipment, furniture, and even clothing – and the items are covered whether they’re in the house or not at the time of any incident.
Extra Coverage
The above is covered by standard tenants insurance policies in Ontario, but there are some extras you can get if you want:
- Sewer backup: This isn’t a situation anyone wants to deal with, but if your water backs up, adding this to your policy covers any damage done as a result.
- Overland water: This covers any damage done as a result of water-related issues like excessive rain, snow melting, spring run-off, etc.
Get The Best Coverage
Good tenants insurance coverage is important to have. Don’t risk getting a poor-quality insurance policy just to save a few bucks because it’s required on your new lease.
Here at Buckler Insurance, we offer comprehensive insurance coverage and outstanding customer service.
Get in touch today and in just a few minutes we can have a tenants insurance quote for you. Many factors can affect your individual policy but we’ll help you save money at all costs! When you buy insurance from us, you’re really buying peace of mind.
