Get the best tenant insurance in Canada!
Compare multiple tenant insurance quotes for the cheapest rate in Canada! Insurancesumo.ca will help you buy the best and most affordable tenant insurance coverage from the leading home insurance companies!
We help you compare renter’s insurance quotes from the leading home insurance providers!
Just provide a bit of information about the residence you’re renting and our quote comparison software will connect you to the best tenant insurance through a Squareone insurance broker. It’s fast easy and can save you hundreds of dollars!
Comparing the best tenant insurance quotes in Canada. How it works:
What does tenant insurance cover?
Renter’s insurance is very similar to other types of home insurance but excludes coverage to the actual building itself. Suffice to say that since the building belongs to someone else, insurance coverage for the building would be purchased by the property owner. But like other habitational insurance policies, tenants insurance addresses other risk exposures a tenant could face.
Liability Insurance Coverage
Protection from liability you’re legally liable for, subject to conditions, limitations, and restrictions. Tenants liability coverage usually applies anywhere in the world! An example would be accidentally knocking over an old lady causing her to break her hip, while on vacation overseas.
Another example is negligently causing damages to the building you’re renting, such as water or fire damages are also covered by tenant insurance.
Your tenant insurance policy also responds in defending a legal action made against you, including expenses and third party indemnification up to policy limits.
Content Insurance Coverage
Protection for your personal contents and belongings is probably the most notable feature of tenant insurance. Most tenants who purchase renter’s insurance do it mainly to protect their personal belongings.
Contents insurance covers the cost to repair or replace your personal property, including clothes and household items!
Additonal Living Expenses Coverage
Tenant or Renter’s insurance includes a special coverage named “additional living expense”. Additional living expense insurance coverage is found usually on all home insurance and habitational insurance policies.
It provides insurance coverage for any extra expense you might incur while your dwelling is considered unfit for occupation, and the evacuation from your dwelling is caused by an insured peril. An example would be having your neighbour’s apartment flood your unit to the point where you cannot occupy the space. Additional expense insurance coverage would help for lodging and food, over and above what you normally would pay if the loss did not happen.
Additional living expense coverage in a tenant’s insurance policy is usually a percentage of the contents coverage you purchased, rather than the building as in a homeowner’s insurance policy. For example is the tenant policy covers your personal property, or contents up to $100,000, and offers 20% of the content value towards additional living expenses that would be 20,000 that could be applied to that coverage if needed.