Protect Your Belongings with Rental Insurance
Affordable coverage for renters. Get peace of mind starting from just $15/month.
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Why Rental Insurance Matters
Your landlord's insurance doesn't cover your personal belongings. Rental insurance protects your furniture, electronics, clothing, and other valuables from theft, fire, and other covered perils.
Protects you financially if someone is injured in your rental unit or if you accidentally damage someone else's property. Coverage typically includes legal fees and medical expenses.
Many landlords now require tenants to have rental insurance as part of the lease agreement. It's a small investment that protects both you and your landlord.
What Does Rental Insurance Cover?
Coverage for furniture, electronics, clothing, appliances, and other personal items against theft, fire, vandalism, and other covered events.
Financial protection if you're held responsible for injuries to others or damage to their property, including legal defense costs.
Covers temporary housing costs if your rental becomes uninhabitable due to a covered event like fire or water damage.
Protection against sudden and accidental water damage from burst pipes, appliance malfunctions, and other covered water-related incidents.
Coverage for stolen items both inside your rental unit and items stolen from your vehicle or while traveling.
Protection for your belongings damaged by fire or smoke, whether from your unit or a neighboring unit.
How Much Coverage Do You Need?
Value of Belongings
Calculate the total replacement cost of all your possessions. Most renters underestimate this amount.
Expensive Items
High-value items like jewelry, art, or electronics may need additional coverage riders.
Liability Limits
Standard coverage is $100,000-$300,000, but higher limits may be appropriate for your situation.
Replacement Cost vs Actual Cash Value
Replacement cost coverage is more expensive but pays to replace items at current prices without depreciation.
Deductible Preference
Higher deductibles mean lower premiums, but ensure you can afford the out-of-pocket costs if you need to file a claim.
Factors Affecting Your Premium
- Crime rates in your neighborhood
- Proximity to fire stations
- Weather-related risks (floods, earthquakes)
- Building age and construction type
- Coverage amount and limits
- Deductible amount
- Claims history
- Credit score
Tips to Save Money on Rental Insurance
Get significant discounts by bundling your rental insurance with auto insurance from the same provider.
Choosing a higher deductible can lower your monthly premium, but ensure you have savings to cover it.
Security systems, smoke detectors, and deadbolt locks can qualify you for safety discounts.
While replacement cost is ideal, actual cash value coverage is more affordable for budget-conscious renters.
A good credit score can help you qualify for lower insurance rates in most provinces.
Senior, student, professional association, and loyalty discounts may be available.
Frequently Asked Questions
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