Tenant Insurance In Ottawa
You’ll find Ottawa where the Rideau River and Ottawa River meet. People from around the world choose the capital city of Canada as their home, making it a lively and multicultural place. Ottawa is known for its famous festivals, including the Canadian Tulip Festival and Winterlude.
Whether you’re here to study at Carleton University or work on Parliament Hill, you’ll need an apartment in Ottawa. Many landlords will ask you to get tenant insurance before your application is approved. But you might not know what tenant insurance is for or why you need it.
You’re looking for affordable Ottawa tenant insurance that still meets your coverage needs. And we’ll help you find it. At Westland Insurance, we make it simple to understand your insurance, from choosing endorsements to making claims.
What Is Ottawa Tenant Insurance?
How will you pay for unexpected expenses? Things like theft or house fires? With tenant insurance in Ottawa, you won’t have to worry—you’ll feel at ease knowing you’re protected.
When you’re covered, it means that your insurance company will pay for the cost of replacing your belongings, repairing property damage, and/or legal fees associated with a liability claim.
With tenant insurance in Ottawa, you’ll get covered for a range of perils, including:
- Certain weather events
- Legal fees associated with liability claims
- Hotel room costs if your apartment is unavailable
In summary, your tenant insurance protects you from damage to your belongings, or if you’re found liable for damages to the building.
Is Tenant Insurance Mandatory?
It depends on where you’re renting an apartment. Some landlords will require proof of tenant insurance before they hand you your lease. They’re legally allowed to turn you down as a renter if you don’t have insurance.
Others won’t require tenant insurance—but will strongly recommend it.
If you cause accidental damages to the building you’re renting, you may not be able to cover the costs without insurance. This leaves your landlord in a difficult position.
As a tenant, the benefits of insurance are twofold: It protects your personal property and allows you to apply for a wider range of rental units. It’s a win-win! Remember: Tenant insurance policies are designed to protect you—the tenant—so purchasing one is in your best interests.
What Does Ottawa Tenant Insurance Cover?
Knowledge is power—especially when it comes to insurance.
By understanding your tenant insurance in Ottawa, you’ll know what’s covered in the event of a claim and when you need to purchase a policy add-on.
We’re breaking down exactly what your insurance covers. Take a look:
This is possibly one of the most important parts of your tenant insurance coverage. It applies to all the personal property you keep in your apartment—your furniture, mattress, all your clothes, sports equipment, computer, and more. Once you pay your deductible, you’ll be covered for the replacement costs.
Keep in mind that your coverage is not unlimited. If you have any high-value belongings in your home, you may want to take out additional coverage. We’ll touch more on that later.
With any apartment, you’ll need to talk to your landlord before you make any changes to the place. Once they give you the go-ahead, you can customize it how you wish!
Any permanent upgrades you make should be factored in when you’re selecting your insurance limits. For example, let’s say you install a built-in stereo surround system in the living room. Be sure to factor in that value when you’re choosing a tenant insurance policy.
Liability issues can happen to anybody. Here’s an example: You’re cooking a roast chicken in the oven when suddenly your phone rings. You step into the other room to take the call and lose track of time. Before you know it, you’ve got a fire on your hands that damages your rental unit and your neighbour’s.
Personal liability insurance will kick in to pay for any property damage you’re found responsible for. It also applies if you’re visiting someone else and you cause damage to their home. Liability coverage protects you from legal costs if someone is accidentally injured in your apartment, as well
Here’s another instance where your tenant insurance in Ottawa comes in handy: When your apartment is uninhabitable.
Let’s say there was a fire in your apartment building. First of all, you’re glad you had insurance to cover your damaged belongings. But while the unit is being repaired, where will you stay?
Your insurance will also cover your hotel fees. Get your temporary accommodations covered, including meal costs and moving fees.
What Isn't Covered With Ottawa Tenant Insurance?
If you ever need to make a claim, you want to feel confident knowing your damages will be covered. You don’t want to find out you’re short on coverage when you need it most. That’s why it’s crucial to understand your policy limits when you’re choosing tenant insurance.
We’re going to explain how those limits affect you.
First of all, your content coverage. As we mentioned, tenant insurance will pay for the replacement or repair costs of your belongings. But it will only go so far.
Let’s say you have $10,000 of personal property coverage. A thief enters your home and steals your jewellery collection. If those items are valued at more than $10,000, you won’t be covered for their total amount. That means you’ll need to pay for part of the costs out of pocket.
Let us know if you store any high-value personal belongings in your apartment; we’ll help you choose the insurance coverage you need.
Your liability coverage has limits, too. You’ll only have financial protection up to the amount specified in your policy.
Finally, you won’t be covered for perils that aren’t specific in your policy. Earthquakes, floods, and sewer backups may not be covered in your policy. At Westland, we can help you figure out what’s included in your policy and what’s not.
How Much Is Tenant Insurance in Ottawa?
Before renting an apartment, you put together a budget factoring in all your monthly expenses. Where does your tenant insurance in Ottawa fit into that?
Your costs will vary based on the following:
- Your neighbourhood
- The distance from your apartment to emergency services
- Your credit score
- Your claims history
- The total value of your personal belongings
- Your age
Want an exact quote on tenant insurance in Ottawa? Give us a call! At Westland, we’ll put together a personalized tenant insurance quote for you.
Do you still have questions about tenant insurance policies? We’ve put together a FAQ to answer your top questions.
The answer depends on who you’re renting from. By law, tenant insurance is not required. But you could pick an apartment with a landlord who requires you to have it. It’s within the landlord’s rights to request you buy tenant insurance before you’re approved to rent the apartment.
You want the best price on tenant insurance. Luckily for you, there are plenty of ways to save on your insurance. To list a few…
- Sprinkler System. Does your apartment building have a sprinkler system? These devices prevent fires from spreading, which reduces the chances you’ll make a claim. As such, your insurance company may offer you a discount if you have one installed.
- Water Leak Detection Device. It’s no secret that water damage can cause thousands of dollars in property damage. What if you could stop water leaks before they happened? That’s what a water leak detection device is for—it alerts you the moment water begins to leak.
- Multipolicy. If you drive a vehicle, bundle your car insurance with your tenant insurance. By choosing the same company for both, you can get a discount on your insurance by using the same company for both.
- Increase in Deductible. What’s a deductible? It’s the amount you need to pay before your claim is reimbursed. By raising your deductible, you’ll pay less for your plan each month—but you will need to pay extra if you make a renter’s insurance claim.
- Customers 50 years of age or older. If you’re over a certain age, insurance providers may offer you a mature customer discount.
- Claims Free. Never made a claim before? Then you can expect lower rates on your tenant insurance in Ottawa.
- Local Alarm. This security system will sound an alarm if it detects signs of smoke or a theft incident. It will alert homeowners that there’s an emergency, but will not phone the police.
- Monitored Alarm. A monitored alarm takes your security one step further—it will contact the authorities directly after detecting a fire or break-in. Monitored alarms are watched by security companies; they’re more expensive, but they’re more effective at preventing emergencies and minimizing damage. Both local and monitored alarms can decrease the cost of your renter’s insurance.
When you’re choosing your renter’s insurance policy, consider the following:
- The total replacement cost of your personal belongings. This number can be tricky to estimate. And when it comes to picking your rental insurance limits, you want to be as accurate as possible. Start by making a list of your most expensive belongings. Then, look up the cost of each one. Add that up, and factor in extra money for everyday things—clothes, toiletries, and accessories.
- The value of your unit. If you need to repair the entire apartment, you’ll want to make certain your renter’s insurance covers the damages. That will depend on how much the apartment is worth. If you don’t know, it never hurts to ask! Drop your landlord a line.
With that in mind, how much coverage do you need? One of our advisors can help you answer this question. Give Westland Insurance a call! We’ll help you assess the value of your belongings so that your tenant insurance will cover everything you need covered.
If you want more out of your tenant insurance in Ottawa, ask us about the following endorsements:
- Identity Theft. An identity thief may steal your social insurance number, credit card information, or your contact information and use it to commit fraud. Protect yourself against the financial repercussions with identity theft insurance.
- Home-Based Business. Don’t let the name for you—this policy is for tenants, too. This renter’s insurance policy is for you if you’ve launched your own business and work out of your apartment. It covers your home office equipment and gives you additional liability coverage (for example, if a client is injured while visiting your apartment for business purposes).
- Watercraft. Do you own a boat? Add this endorsement to your tenant insurance in Ottawa, and you’ll have the coverage you need for your yacht, sailboat, or fishing boat.
- Overland Water. If you’re concerned about the damage caused by flooding, ask us about this policy; depending on where you live in Ottawa, you may be eligible for it. Overland water insurance covers the cost of water damage caused by an overflowing river or lake.
- Sewer Backup. Suppose there’s a clog in your sewer line or excessive rainfall. In that case, sewage may back into your apartment, causing extensive property damage to your unit and your personal belongings. Cover the costs with this optional add-on.
- Service Line Coverage. Get reimbursed for replacing any damage you unintentionally cause to service lines (including water, power, utility, communication, and sewer lines).
- Claim Protector. After you make your first claim, the cost of your tenant insurance in Ottawa will go up—unless you have claim protector coverage, which ensures that your rates will stay the same after your first claim.
We highly recommend working with an insurance broker. They’ll get you affordable rates by comparing quotes offered by different companies.
At Westland Insurance, we’ll get you better rates on Ontario tenant insurance quotes; we work with several insurance companies to ensure you get the best tenant insurance coverage at a price you can afford. Friendly service from knowledgeable insurance advisors—that’s what you can expect from Westland Insurance.
To get your online quote, contact us today!