Ski bums crammed into Whistler rental accommodation and university students living two to a bedroom in a college ghetto probably aren’t paying much attention to purchasing tenant’s insurance. Tenant insurance is affordable, easy to obtain, and you will be so, so happy that you have it if your roommate passes out and causes a grease fire at three in the morning that causes smoke damage in an adjacent apartment or that “rager” you’re hosting to celebrate the end of exams gets out of control and, well, windows get broken.
First things first. If you’re not carrying tenant insurance and well over half of Canadian renters don’t then you will not receive a penny’s worth of compensation for damaged or destroyed clothing, furniture, computers, stereo systems, or sporting goods. Secondly, if a mishap occurs that originates in your unit and damages your neighbour’s residence, then you, not the landlord, could be held liable. Finally, if you are renting a house and a friend falls down a flight of icy stairs and sustains a bad concussion, you could be liable if you did not take due care and attention to shovel off the snow.
Each one of these terrible scenarios can be avoided by taking out a simple tenant insurance policy. Little known fact: most tenant packages include what’s known as third party liability insurance, which means that if you are found guilty of causing damage to another person’s residence or property, your insurance company will foot the bill.
Tenant insurance is also an awesome deal. Depending on where you live in western Canada, your monthly rate could be about the same as three pints of local craft beer, if you’re lucky. Insurely can provide you with a quote in ten minutes and provides its five-star Google-rated Guides in case you need to choose between different policies and riders. Tenants should note: each person in a shared unit will require coverage, and due to the high rate of bike theft, you’ll have to purchase a separate policy, or rider, for each bike that you own.
Our Insurely Guide’s are always around to answer your questions and we try to make it light and easy for you to understand. Schedule a call with us so we can answer all your questions.
