What is Tenant insurance? Tenant Insurance is also known as renter’s insurance, is a type of home insurance that you consider when you do not own the dwelling in which you live, but rather rent it. In this case, your risk is significantly lower and the home owner will carry the majority of risk and have their own homeowner insurance policy.
Nevertheless you still have a lot of things to protect even if you do not own the house. Accidents happen, and tenant insurance ensures that you protect your valuable belongings. Tenant insurance would cover the following risks (additional insurance riders might be required):
- Your personal property and belongings (e.g. home cinema, laptop, music system etc.)
- Personal and premises liability (e.g. in case you damage 3rd party property)
- Living expenses (e.g. if you temporarily have to move to a hotel)
- Special items such as jewelry, art items, collectibles, rugs etc.
- Other coverages including identity theft, sewer backup, legal protection, etc.
Normally you are also able to choose your deductible and thus somewhat influence your tenant insurance rates. Tenant Insurance is one of the cheapest insurance types on the market and rates can be as a low as $10-20 per month.
- Interested to pay as little as $15/month for home insurance?
- Get a free quote from our partner in 10 minutes and start to save
- Include into your policy all important coverage such as e.g. sewer back up
Interested in Home Insurance? Get a free, no-obligation quote
Our Publications related to Home Insurance
The arrival of COVID-19 has pushed Canadians, more than ever before, online for finding and applying for insurance and banking products. It is not easy, though, to make the right choice without knowing if a particular insurer will be there when you need them the most. As the largest Canadian review platform with thousands of […]
A prospective buyer is always going to be focused on a condo unit’s view. Unlike a house, these units rarely have multiple windows to the outside in various directions. The exterior wall, which usually is either glass or contains a balcony, is likely the only point of contact with the natural world. While the interior […]
It’s no secret that property prices in many urban areas of Canada are on fire. And it’s not limited to just the core of Toronto and Vancouver. Houses for sale in Hamilton, for example, have doubled in price in the last decade and houses in Mississauga are almost $750,000. It’s increasingly hard for the average […]
Toronto real estate has been tumultuous in the last few years. At first, everything was going, up, up and up. Record low-interest rates made huge mortgages more attractive, and few new suburbs were developed thanks to the Greenbelt. Almost 90, 000 Newcomers were moving to Toronto each year, along with Canadians from other parts of […]
InsurEye Inc has announced the launch of a new website: CondoEssentials. The new site is a condo review platform that has been designed to better inform Canadians about real estate, with a particular emphasis on condominiums. InsurEye has been informing consumers about details of auto, life and condo insurance for years through thousands of independent […]