Tenants Insurance

As a tenant you may be aware that the property owner has insurance on the building where you reside. However, many tenants may not be aware that their personal property and liability are not covered by the property owner’s insurance.

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Why is renter’s insurance so important?

Your property owner’s insurance may not cover the following scenarios or risks:

  • A kitchen fire that damages your unit and spreads to other units. You may be responsible for paying the costs of these damages to not only your residence but also the building.
  • Your personal belongings (furniture, jewellery, clothing, etc.).
  • Accidental damage to a neighbour’s property caused by you or your guests.
  • Unintentional bodily injury to others such as someone tripping and falling in your residence.
  • Upgrades that you make to your residence such as hardwood floors or kitchen cabinetry.
  • Additional living expenses, such as hotel and food costs if you cannot live in your home temporarily due to a covered loss.

Several discounts are available to reduce your insurance premiums. Having an alarm installed, being claims free, or having your vehicle insured with Unica are just some of the easy ways you may be eligible for discounts. Learn more about discounts here.

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