Tenant Insurance

If you are a renter it is important to make sure your belongings are covered by tenant insurance, also known as renters insurance. The owner of the house or condo will have insurance to protect their investment in the property but that insurance does not include damage to personal property or liability.

 

Regardless if you are renting a room, an apartment, townhome, or entire house, renters insurance will provide coverage that protects you. Renters insurance covers the cost of liability suits, loss of possessions, and even costs associated with the loss of the residence, including living expenses such as hotel bills.

 

Liability Coverage

The most important reason to acquire tenants insurance is liability coverage. If you or a visitor cause damage to the property the owner may hold you liable for those damages; or if a visitor is injured on the property they may sue for damages, this is why most standard tenant insurance policies cover the renter with liability damages for up to $1 million. 

 

This peace of mind usually comes at a minimal cost; tenant insurance is generally between $15 to $30 per month depending on the value of the renter's possessions and the coverage provided. Contact us at 780-449-1411 to talk about tenant insurance Alberta or complete a tenant insurance quote online and our insurance specialists will be happy to help you find the best coverage to meet your needs.