Tenant insurance is overlooked by more than half of all renters. Whether it’s because they think it’s unnecessary or don’t understand what renter’s insurance actually is, many have to learn of its importance the hard way.
The fact is, your landlord’s insurance policy does not cover your personal belongings or any accidents that may take place within your rental dwelling. So if you’re uninsured and the unthinkable happens, you may find yourself with a hefty bill to pay.
There are two types of tenant insurance every renter should consider:
Contents Insurance: Helps replace your personal contents (clothing, electronics, jewellery, artwork, etc.) in case of loss, theft or damage. If you think your belongings aren’t valuable enough to insure, take a moment to add them all up. You may be surprised by the substantial replacement cost!
Liability Insurance: Provides financial protection against unintentional injury and accidental damage to another person’s property. So if your bathtub overflows and causes damage to a neighbouring unit, or if your friend trips and injures himself, your liability insurance should take care it.
If you would like to know more about tenant insurance in Victoria BC, don’t hesitate to contact us or request a quote online. Our knowledgeable insurance brokers will find you an affordable, personalized package that will give you much-needed peace of mind.
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