Creston Valley Insurance tenants coverage

Renting Your Home? Get Tenant’s Insurance!

If you rent your home, don’t risk potential liability. Be sure to have Tenant’s Insurance to ensure coverage of yourself as well as the things you own.

Renting a home offers such freedom – no worries about landscaping and home maintenance, for instance, or the burden of a multi-decade debt commitment. But, when you don’t have to concern yourself with the details of homeownership it’s easy to overlook certain particulars that are required by homeowners but can also be of benefit as a renter.

Even if you are renting, it’s vitally important to protect yourself and be prepared. In other words, to expect the unexpected. And that means not simply relying on your landlord’s property insurance policy.

If you’re making assumptions as to the scope of your landlord’s insurance coverage, and how it takes your unit – including your personal liability and belongings – into consideration, think again.

Take nothing for granted when it comes to protecting yourself and what you own. That’s why there’s Tenant’s Insurance.

Tenant’s Insurance is intended to address potential shortfalls and discrepancies in the insurance coverage your landlord maintains for the property he or she owns and in which you live.

If there are any parents of young adults attending college, given the increased chances of mishaps (some potentially quite costly) Tenant’s Insurance is a must to protect your child (and, quite likely, yourself) while providing just that little bit of extra peace of mind!

As a renter, there are several reasons to seek the coverage of Tenant’s Insurance. Chief among them is to ensure that you and your belongings are adequately protected in the event of the unexpected.

Even if you are renting on the most temporary basis, Tenant’s Insurance ensures you can replace your belongings and the contents of your unit in the event of an insurable loss. This includes everything from dishes and housewares to expensive electronics such as TVs and laptops to furnishings.

Despite not owning a home, you may actually own more than you think! You might be surprised at how much you have accumulated and how much it would cost to replace it all at once. It’s helpful to keep a consistently updated record of all that you own – photo and video documentation works if you aren’t one to keep a written list.

Understand too, that Tenant’s Insurance doesn’t just cover the loss itself. You can purchase coverage that will cover potential additional expenses after the loss as well.  For example, if you are the victim of an apartment fire, you will somewhere else to stay temporarily. Your insurance will cover the necessary expenses like this as you await the repair of your unit.

Anything can happen. If you’re unfortunate enough to damage your landlord’s, or a neigbouring tenant’s, property in your building, with Tenant’s Insurance, you know you’re protected. When you’re renting, if you haven’t thought to protect yourself with additional coverage, you could be liable for damage caused to not only damage to your rental unit but, in some instances, the building as well. Tenants are held responsible for any harm or damage they cause to any portion of the building and Tenant’s Insurance ensures you’re able to cover any damages.

Tenants can be held responsible for any harm they cause to others who visit or live in their unit. If you have the tremendous misfortune to accidentally cause someone harm in your rental or even your building, Tenant’s Insurance provides the coverage and protection you need. Tenant’s Insurance assists, covering the costs related to this type of claim.

Additionally, Tenant’s Insurance provides the coverage you need in the event of any legal action associated with your rental unit. In the case of a lawsuit initiated by a third party, a standard insurance policy will provide coverage, including defense fees and potential settlements.

Keep in mind, as well, that Tenant’s Insurance contributes to your claims-free history. If you have a clean record, with several years of insurance history without making a claim, a tenant’s policy can help you establish that positive insurance history. Bonus: as a result of being claims-free, most insurance companies will offer a discount on your insurance.

Questions about insurance as a renter? Talk to us!

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