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Tenant & Renters Insurance

Why isure gives you Renter’s Insurance that’s All About You

Even if you’re renting on a short-term or temporary basis, renter’s insurance (also known as tenant’s insurance or contents insurance) will help replace the contents of your rental unit due to loss, theft or damage.

It’s also not well understood, isure’s Renter’s Insurance can also cover you for additional risks and costs that you didn’t see coming. Imagine someone slipping and falling on your sidewalk. Or if a fire forces you to stay in a hotel for 6 weeks as things get fixed. How about your special high-end stereo system, art collection or one-of-a-kind jewellery?

To get a quick estimate , click on the “Get a Quote” button and then go to the “Home” tab to start your free quote .

isure Renter’s Insurance means:

Contents coverage Insurance Renters Insurance factor

Contents coverage

Covers your personal property and possessions.

Personal liability coverage Insurance Renters Insurance factor

Personal liability coverage

Covers you should someone hurt themselves while visiting your home.

Living expenses Renters Insurance factor

Living expenses

Covers you should loss or damage force you to live elsewhere temporarily.

isure’s Renter’s Insurance options:

All-perils coverage

Covers you for common types of loss (e.g. fire, theft, etc.). It clearly states where extraordinary situations are excluded.

Named Perils coverage

Covers you for specific types of risk that are included in your coverage.

isure Home-Based Business insurance

Use in conjunction with this isure type of insurance, if you are running a business in your rental property.

isure Broker Expertise

We know our way around rental properties, so let us advise you on simple ways to bundle and take preventative measures to save on your insurance premiums.

Renters/Tenants Insurance FAQs

Many landlords will ask tenants to have some form of protection, although Renters’ Insurance is not mandatory. It is, however, extremely important, and even if it’s not a requirement, we are here to tell you that tenant insurance is highly beneficial because of the value of its protection. Renters require coverage and protection against unforeseen expenses, and here at isure, we can create policies that help pay for damaged or missing items. 

Our brokers receive a lot of questions regarding tenants’ insurance, and the following guide will provide you with important answers to ensure you are well-informed:

What does Tenant Insurance cover?

This type of coverage will provide renters with reimbursements after theft or fire, and some policies will also cover liability on your part if someone is hurt while inside your home. If a friend or family member falls and breaks their arm in your living room, for example, your policy will cover this liability. 

Additionally, if you have lived somewhere else while your rental unit is being repaired because of water damage, fire or smoke, your policy will cover the cost of accommodations. Medical and liability bills, temporary relocation and replacing or repairing your personal belongings damaged by a named peril are all covered under Renters’ Insurance. 

We will discuss your policy in great detail, and if you require clarification, our brokers will review every detail and discuss additional coverage options if you require more protection. We are always ready to help ensure your Renters’ Insurance policy suits your needs.

What type of events does Renters' Insurance cover?

Renters’ insurance will generally cover your rental apartment in the event of fire and lightning, windstorms and hail, smoke damage, vandalism and theft. Other events may also be covered depending on the type of policy you select. We will discuss this aspect in more detail to ensure you clearly understand the events covered by Renters’ Insurance. 

What does the word ‘peril’ mean?

This is a word you will often see when looking at Renters’ Insurance; perils refer to a specific risk or cause of loss. Not all policies cover the same perils, however, and basic Renters’ Insurance plans will cover basic perils, like vandalism and fire. You can always add additional coverage if you want protection against other perils that are not named. We will review those listed within your insurance policy to prevent surprises. 

Will my Renters' Insurance cover my roommate?

It may be possible to add someone who is not related to you onto your policy. However, this is not recommended because claims made by either party will go onto your insurance record, which can hurt you in the future. You also have to consider the amount of coverage, which will not change when you bring a roommate into your plan; this is why purchasing a separate insurance policy can be beneficial.

What is NOT covered by Renters' Insurance?

Damage caused by natural disasters is not covered. Additionally, high-ticket items may not be covered in full due to limitations. Jewellery and art, for example, will be protected. Still, there are limits associated with such items. You will not receive the full amount unless you increase your coverage or purchase a separate jewelry insurance policy for additional protection. 

Does Renters' Insurance cover pets?

Tenant insurance can cover damage and injury caused by pets, although we will have to discuss your policy and specific pet; some breeds of dogs may raise the cost of your policy. Additionally, you may need an entirely separate policy. Some breeds may not be eligible for any coverage, and we will have to discuss the kind of pet you have to determine if it can be included in your Renters’ Insurance policy. 

isure Tenant Insurance IN ONTARIO

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