Tenants and Renters Insurance in BC
Widely known as ‘renters insurance’, tenant insurance is designed for people who rent the place in which they live, whether that’s a house, condo, apartment or basement suite. A simple and affordable insurance policy to protect their personal belongings as well as their personal liability exposure. Contrary to popular belief, while your landlord is responsible for insurance on their building, the coverage he/she has does not extend to cover your personal property or liability. That’s where a BC tenant insurance policy comes in handy.
Similar to condo insurance, tenant insurance is an affordable insurance product, and quite simple to buy. In fact, we have partnered with one of Canada’s leading insurance companies to offer you the ability to buy renters insurance online. It only takes a matter of minutes to get renters insurance in Vancouver or throughout the rest of the Province by using our online tool. Our system provides tenant insurance quotes and offers the ability to buy the coverage that best suits your needs. right from the comfort of your home.
Contrary to popular belief, renters insurance can actually be purchased at a relatively low cost. Before we cover the insurance rates, however, let’s have a look at the insurance coverage offered for renter insurance by Canada’s largest insurance companies.
Tenants Insurance Coverages
Insure the contents of your dwelling and other personal property you own, wear or use while on your premises which is usual to the ownership or maintenance of a dwelling. There are special limits for certain items including up to $2,000 in all for jewellery, watches, gems, fur garments and garments trimmed with fur. To find out about other limits within our renter’s policy please contact us.
Most tenants insurance packages protect you by offering the following coverage:
Unfortunately, accidents are a part of life, but if you are somewhat prepared for them, they do not necessarily have to be devastating. For example, if the water in your bathtub is left running unattended and the place floods, would you have enough money to replace all of your possessions? Now may be a good time to make a list of your belongings to help you determine the amount of contents coverage you require to ensure you are adequately protected.
Whether you own your place or rent it, you are legally responsible for anything that happens to someone else while on your premises. If you have unsafe conditions in your own living area, you are responsible if someone hurts themselves. If the injury is serious enough, you could end up having to pay for damages as a result of a court case. Finally, liability coverage would also kick-in should a fire or flood in your residence cause damage to other units in your building.
There are a number of optional coverages available that do not form part of the standard tenants package but should be given some serious consideration when buying insurance. Sewer backup coverage, for instance, is designed to help protect you and your belongings in the event of damage as a direct result of your sewer backing-up. Earthquake coverage, on the other hand, provides coverage for a loss or damage caused by an Earthquake. You can select your own deductible (calculated as a percentage of the limit placed on your personal belongings) and you’re all set.
How Much Does Tenants Insurance Cost in BC?
Tenants insurance is among the most affordable and simple insurance products in Vancouver and the rest of the BC marketplace. In many situations, the cost of tenant insurance is far lower than people expect. Depending on the coverages you select and the number of possessions you own, a typical tenants insurance policy can start as low as $20/month. All of our offices specialize in Tenants insurance and represent Canada’s largest and most reputable insurance companies. Our online system is backed by a number of licensed insurance brokers who are true experts in the field of Tenants Insurance. We have just put the entire purchase experience online to allow you to purchase it on your own. Give it a try and get a quick renters insurance quote.
Despite what some people believe, renters insurance can actually be purchased at a relatively low cost. Before we cover the insurance rates, however, let’s have a closer look at the coverage offered within a renter insurance policy, offered by one of Canada’s largest insurance companies.