WHY isure GIVES YOU ONTARIO TENANT (RENTERS) INSURANCE THAT’S ALL ABOUT YOU
Are you aware of the importance of protecting your rental space and everything inside? At isure, Canada’s fastest-growing insurance brokerage, we are revolutionizing the perception of renters/tenants insurance. Our dedication is to provide you with an all-encompassing guide to your tenant insurance options, ensuring that you are informed, confident, and feel secure in your decisions. We place your needs, concerns, and inquiries at the core of our operations and we help you get the best renter insurance rates. Let’s take a deeper look at renters insurance below.
isure RENTER’S INSURANCE MEANS:
Contents coverage
Covers your personal property
and possessions.
Personal liability coverage
Living expenses
WHAT IS TENANT INSURANCE?
Renter’s insurance, also known as tenant’s insurance or apartment insurance, gives you peace of mind that your belongings are covered. Much like a homeowners’ policy, tenant insurance provides you with contents and liability coverage. The main difference is that there is more focus on the personal belongings of renters and not the building or property, learn more about the difference between homeowner and renters insurance. In addition to contents and liability, if your unit becomes uninhabitable for any reason, you will have additional living expenses to help cover the costs of staying in a hotel. It’s important to note that your landlord’s insurance covers the building, not you.
A survey by TD insurance finds that more than half of Canadian renters do not have tenant insurance. Whether it’s due to cost, feeling as if they don’t have much to insure, or first-time renters incorrectly believing they have coverage under their landlord or roommate’s policy, many Canadians are foregoing tenant insurance and, in doing so, putting themselves at financial risk.
Did you know: Tenants are required to have a tenant insurance policy as a condition in their lease? This is common in Toronto, Ottawa, and most other cities in Ontario.
DECODING RENTERS/TENANTS INSURANCE
As a renter, your dwelling is your haven. It’s home to personal possessions, cherished memories, and invaluable items that extend beyond monetary value and hold emotional significance. This is the juncture where Renters/Tenants insurance intervenes. This insurance aids in replacing your personal assets in the event of loss due to unpredicted circumstances, such as theft or damage.
However, it’s not only about possessions. Picture a situation where a visitor slips and falls on your rented property, or a fire outbreak forces you to seek refuge in a hotel for weeks. These unforeseen incidents can result in hefty, unexpected expenses. Here is where renters insurance stands out – it covers extra risks and costs that you may not anticipate.
CUSTOMIZED COVERAGE
As a renter, your dwelling is your haven. It’s home to personal possessions, cherished memories, and invaluable items that extend beyond monetary value and hold emotional significance. This is the juncture where Renters/Tenants insurance intervenes. This insurance aids in replacing your personal assets in the event of loss due to unpredicted circumstances, such as theft or damage.
Renters/Tenants insurance also provides wide-ranging protection for personal liability and additional living expenses, which prove useful in the face of disaster. This policy will protect you from settling hotel room bills during home repairs to bearing legal costs if someone gets injured on your property.
isure 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
isure Home-Based Business insurance
isure Broker Expertise
TENANT INSURANCE: ADDITIONS & ENDORSEMENTS
Overland Water
Sewer backup
Identity theft
Additional contents
FAQS
RENTERS/TENANTS INSURANCE
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 and not fall for any myths:
What does Tenant Insurance cover?
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?
Will my Renters' Insurance cover my roommate?
What is NOT 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.
Does Renters' Insurance cover pets?
Commencing your journey with Renters/Tenants insurance
With isure, procuring a Renters/Tenants insurance quote is effortless. Simply click on the “Get a Quote” button, head to the “Home” tab, and in no time, you’ll have a free, no-commitment quote tailored to your needs.
isure ACROSS ONTARIO
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