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Tenant Insurance (Renter's Insurance)

Are you moving to your very first apartment? Brand new to the city and renting a townhome? Although you don’t own the property you’re now calling home, you have some of the same insurance needs as a homeowner.  Whether you’re renting an apartment, townhome, or a suite in a high-rise building, we’ll help you get the right tenant coverage.

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Let us find the best insurance rate for you! You can also connect with us over the phone at 1-844-480-2886. For more information, click here to find a Westland Insurance advisor close to you.

 

How Much Does Tenant Insurance Cost?

Tenant insurance is a small investment considering the return. In most cases, it can be the same price as eating one meal out per month. Some factors that contribute to the premium cost include your location, the limits of insurance selected, and choice of deductible.

Tenant Insurance Explained

Did you know that as a renter, your landlord’s home insurance won’t cover your belongings in the event of a fire, theft, or damage?

You’re also responsible for any damage that you cause to your building and for any accidental injuries incurred by someone while visiting the property.

 

Protection for Your Belongings

Think about all the things you own, mainly how many boxes it would take to move all your belongings. Throughout the years, that can quickly accumulate. This goes beyond furniture, including electronics, clothing, jewellery, sporting equipment, and other valuables. 

Renters need to have the right insurance to cover the expense of replacing their belongings if something happens. Keep in mind, most tenants' policies have a limit on certain items. For example, if you are into mountain biking and have a high-end bike with accessories, you'll want to ensure that you select a higher limit to reflect the actual value.

“Home” Improvements

Did you get the go-ahead from your landlord to upgrade an aspect of your space? Tenants insurance covers everything that’s inside the walls of your area, including permanent upgrades. So that built-in stereo sound system or walk-in closet shelving system adds value to your space and is essential to consider when choosing your insurance limits.

Liability Coverage

Another critical aspect of tenant insurance is liability coverage, both for in your home and while you’re away. If an accident occurs and you cause damage to not only your unit but also the rest of the apartment building, you’re covered. For example, If you left something in the oven which led to a fire, you would be responsible for damages caused to any part of the building or apartment complex that you reside in. The same will apply if you are outside of your home and accidentally cause damage to another person or their property.

Living Expenses

If something happens to your space and you aren't able to stay there, your tenant policy will cover the cost of alternative living arrangements. It will also cover the cost of meals while you're out of your home. Having something happen to your home can be extremely stressful. With tenant's insurance, it can take away some of that stress to help you get to a sense of normalcy.

Where can I buy tenant insurance for my space?

You can connect with us anytime online. Our expert insurance advisors can find the best coverage for you and put it in place within minutes. Or if you prefer, you can connect with us by phone, give us a call at 1-844-480-2886. Of course, you can visit us in person at one of our Westland offices. Connect with us here, and we’ll get started.