Do not end up a statistic. Too often we hear about a fire or other disaster that occurs in an apartment building and the tenants were not insured. They have lost everything. Tenants Insurance is inexpensive and can provide coverage for loss or damage to your personal belongings. As well, it provides liability coverage in case you are negligent.
In the unfortunate event of a disaster, don’t be left with nothing and no where to turn. Let the experienced insurance brokers at HWC Insurance offer a tenants policy ideal for your living arrangements.
Do you need Tenant Insurance?
Don't be a Satistic
The Insurance Bureau of Canada estimates almost 50% of tenants are not insured. Many people who rent, under value their belongings and fail to realize the importance of this minimal expense.
It Might Be Required
Many landlords now require tenants to provide proof of insurance before granting or renewing a lease.
Understand the Risk
Not worried about your belongings? What about the possibility of being liable for damages caused by your negligence. Liability coverage is included in a tenants policy.
What does your coverage come with?
The following are coverages commonly included on tenants policy.
- Personal Property – insuring contents owned by you in your unit, and other personal property you wear or use while on the premises.
- Additional Living Expense– will pay for any necessary living expenses while your dwelling is unfit for occupancy, due to damage by an insured peril.
- Tenants Legal Liability – protection if you were to be sued due to negligence.
- Voluntary Medical Payments – if someone is accidentally injured by you or on your property, the insurance company will pay an amount for medical expenses occurred by such accident.
- Voluntary Property Damage – will pay for unintentional property damage cause by you. This will also pay to reimburse others for intentional property damage caused by any child 12 years or under.
Coverages at an additional expense may also include:
- Sewer Backup – pays for the loss or damage caused by the sudden back up or escape of water from a sewer, sump pump, or septic system. (Optional)
- Overland Water – Overland water provides coverage for the loss or damage caused by surface water entering the insured dwelling as a sudden accumulation of rain or overflow from lakes and rivers. (Optional)