Tenant Insurance 101 – Everything You Need to Know About Tenant Insurance

While living in a rental home, it is important to have up-to-date tenant insurance because it protects you, your neighbors, and your community from added stress after an accident or emergency. Tenant insurance is a requirement in all of our communities so that every resident’s belongings and keepsakes are covered. Below we have outlined three major benefits of tenant insurance:

Less Stress After a Tragedy

In the event of a fire, flood, or theft, tenant insurance can cover the cost of replacing your belongings and repairing the damage to your home. Likewise, if you cause an accident that damages your neighbor’s home or belongings, your insurance will cover replacement and personal liability. For less money than a daily cup of coffee, tenant insurance will ensure you live stress free!

Peace of Mind

Tenant insurance also covers the cost of medical expenses for injured guests, accidental damage you -or your family- cause, and the cost of replacing items you’ve rented or borrowed. Instead of worrying about how the “what-ifs,” your insurance will allow you to recover from mishaps and move forward without added strain!

A Small Price to Pay for Security

It can be pricey to replace all of your belongings, even if you think you don’t own many expensive things. Look around your home; think about what it would cost to replace your TV, your bed, your couch, or your computer. It adds up quickly, and without the support of insurance, this entire cost is your responsibility. Luckily, tenant insurance is easily-affordable and widely-available through any major bank or insurance company. Typically tenant insurance can cost as little as $25 per month, but if you bundle it with your auto-insurance, you can get it for even less!

So be a good neighbour and community-member by making sure your insurance is up-to-date! Help your community stay protected!