Tenants Insurance for Renters in Ontario
If you rent an apartment, condo, or house, you could end up saving thousands of dollars in the event of a claim with tenants insurance. A tenants insurance policy will cover your belongings or liability for accidents in your residence.
Why do I need Tenants Insurance?
Even though your landlord has insurance, in most cases it only covers the building – and not any of your belongings. In the event of an unforeseen situation such as a fire, break and enter, or severe storm, a tenants insurance policy can allow you to recover the value of any damaged or stolen belongings. Tenants insurance can also help protect you from a liability lawsuit if someone is injured in your place of residence.
What does tenants insurance typically cover?
As a renter in Ontario, your personal property will be covered against:
- Fire or lightning
- Windstorm, tornadoes, or hail
- Water damage
- Theft from break-ins