What is Renter’s Insurance?
Renter’s insurance is very similar to a home insurance policy. The only difference is that there is no coverage for the building or elements, as that is the landlord’s responsibility. Coverage for renters is specifically designed to protect your personal belongings, liability in case of property damage or personal injury, and additional living expenses in the event of a claim.
Why do you need Renter’s Insurance?
Many renters believe that their personal contents and liability will be covered by the landlord in the event of a claim. However, this is not true. If an accident is to ever occur, the renter is responsible for all personal property and liability. Most landlords, including Pathway require a proof of renter’s insurance as a condition of the tenancy.
How much coverage do I need?
You have more to protect than you may think. Determining the right amount of contents coverage for you depends on your personal situation. To determine how much coverage you may need, visit http://www.ibc.ca/on/home/risk-management/home-inventory.
How much does Renter’s Insurance cost?
The cost of renter’s insurance depends on many factors, including:
When you compare how much you stand to lose if you don’t have insurance, the cost of renter’s insurance is minimal. Protect what matters most with renter’s insurance.
