Tenants Insurance- Are Your Assets Covered?
Regardless of whether you own the property you reside in, protecting yourself and your assets is crucial. Tenants insurance is an excellent option for those who rent their dwelling or do not have a property policy.
The Basics of Tenants Insurance:
There are three main components of tenants insurance that compose your policy, according to the Insurance Bureau of Canada
1. Coverage for your belongings – This includes clothing, electronics, furniture and more. If damage is done to your belongings, you are likely to qualify for coverage through your tenants insurance package.
2. Assistance in case of an emergency – If your apartment building has a fire and you must relocate, tenants insurance helps cover living expenses while your apartment is repaired or you find a new one. This security can be very helpful in times of need.
3. Protection if you or your belongings cause injury to others or to property- In the case of accident, tenants insurance may be able to provide coverage.
The Costs of Tenants Insurance:
Multiple variables come into play when your premium is calculated.
The location of the dwelling you reside in and the type of construction of the home will affect your rate. Further, the amount of belongings you own and wish to cover will result in more or less coverage necessary. There are also additional add-ons to your policy beyond basic wind, fire and types of water damage that would increase your premium.
Purchasing a tenants insurance policy provides invaluable protection to you and your belongings. Considering purchasing a a tenants insurance package? Let us find you the best quote!
Give us a call at 705-789-0101, or stop by our offices to speak to one of our brokers in person!
We look forward to discussing your options.
HRC Insurance
