# data[].attributes.headline
Video #1: A Breakdown of Tenants Insurancee 

# data[].attributes.subject
Video #1: A Breakdown of Tenants Insurancee 

# data[].attributes.body
This video covers what it is, what it covers, and why it is essential to have as a tenant. The video goes over certain items you can get replaced or covered and how it will help you avoid having to pay out of pocket. It uses real life examples from each category of what it covers so that you can get a quicker and more personal understanding of what it is and what it does.

I chose this video because it is a personable and friendly way of explaining what it is. He uses real life examples for each category which I did not see in many of the types of content I included in this padlet. I found it interesting that tenant's insurance covers almost every one of your belongings as long as you have proof of owning it. This video was overall funny and quite educational at the same time.

# data[].attributes.attachment_link.title
Bite Sized Break Down on Tenants Insurance in Ontario

# data[].attributes.headline
Video #2: Things You Need To Know About Tenants Insurance 

# data[].attributes.subject
Video #2: Things You Need To Know About Tenants Insurance 

# data[].attributes.body
This vide covers everything you need to know about tenants insurance. For example, it discusses what you need to consider as a tenant. It also discusses the specific categories. It provides specific definitions and examples for each so that you can understand it more personally and clearly. It says that personal liability coverage even covers pets and applies even if it happens off of your premises. It also notes that accidents happen and it is completely normal, and that is why it is all the more important to get covered now.

I chose this video because it uses educational examples that adults can understand. It also notes points that I did not previously know about. I did not realize that personal liability coverage also meant pets. I found that to be an interesting point for them to discuss as people's pets are just as important as children and other family members to them. Overall, this video is similar to the one noted above but it has a more serious and educational tone and not so much funny. This makes it so people looking at this padlet have options to choose from for how they best understand and learn through videos.

# data[].attributes.attachment_link.title
Ontario Renters Insurance – Here’s what you need to know

# data[].attributes.headline
Video #3: How To Get Cheap Tenant Insurance In Ontario

# data[].attributes.subject
Video #3: How To Get Cheap Tenant Insurance In Ontario

# data[].attributes.body
This video covers how it is important to insure you have proper insurance on your property, especially for tenants. It notes that it is not expensive at all and is not worth the risk of not having when it is one of the cheapest insurance types. It can also cover up to one million in liability which will protect you from accidents that weren't caused by you. He also uses real life examples and how the insurance will cover it and all the additional expenses. He then notes his contact information if you are looking for tenant's insurance.

I chose this video because it uses facts that I was not aware of based on the other content linked in this padlet. I did not know that it could cover up to one million. I also did not know that it was one of the cheapest insurance policies. I feel this is important for people to know because then it will make them feel better about getting it, especially in these more expensive times.

# data[].attributes.attachment_link.title
How to get Cheap Tenant Insurance Rates in Ontario?

# data[].attributes.body
In this padlet, through a series of websites, videos, and images, you will learn what renter's insurance is, why it's important, and what it will overall cover. The basic definition of renters insurance is it is a type of insurance for people currently renting their property, and will protect them from unexpected situations, like theft and property damage.

It is important to note that in Canada, renter's insurance is commonly referred to as tenants insurance.

# data[].attributes.headline
Website #1: Why Do You Need Renter's Insurance? 

# data[].attributes.subject
Website #1: Why Do You Need Renter's Insurance? 

# data[].attributes.body
This article covers topics about landlords, what renters insurance covers, and liability insurance. It discusses in detail how landlords have to show proof to their insurance company that their tenants also have renter's insurance so that they can get policy benefits. It also says that the items in your property can be insured for only a certain amount. Lastly, one of the most beneficial parts of a renter's insurance is the  overall coverage of additional living expenses, which will protect you from unexpected situations like having to leave your residence.

I chose this website because it covers off the importance of having insurance as a renter. I like it especially and wanted to include it because it discusses landlords and what insurance coverage they may also have. I found this useful because it is great to know as a future renter.

# data[].attributes.attachment_link.readable_text
According to the Insurance Bureau of Canada, about half of Canadian renters don't have renter's insurance. Many people believe that their landlord's insurance will cover any losses from a disaster, from storm damage to fire.

Major fires like the August 2018 blaze at 650 Parliament St. in Toronto, which left about 1,500 people without homes, highlight the importance of renter's insurance. An electrical fire displaced the residents, who have been told they won't be able to return until June 2019 at the earliest.

Renter's insurance can help after a fire damaged a rented apartment. It can also provide coverage in case visitors are injured while in your apartment, or you've suffered a break-in and theft.

Don't landlords have insurance to cover fire and disasters?

Yes, property owners have insurance for their properties, but these policies cover structural damage and liability related to the owner's responsibilities, not the tenant's.

Many landlord insurance policies in Canada cover damage from water, earthquakes, fire, wind, storms, and smoke. Owners usually have to provide proof to their insurance company that their tenants also have renter's insurance in order to qualify for all policy benefits.

If a disaster has displaced tenants from a rental property, landlords may have coverage that continues to provide rental income during the time tenants can't return to the home. Landlord's insurance also includes liability coverage, in case anyone is injured on the property. Landlord's insurance is designed to cover the landlord's liability, not the renter's. If you're a renter, your landlord's insurance may rebuild or repair the apartment or house when damaged, but it won't repair or replace your belongings, including furniture and appliances.

What does tenant or renter's insurance cover?

Renter's insurance coverage starts with contents insurance. Contents insurance provides funds to replace lost, stolen, or damaged items, from electronics to furniture and clothing. The contents of your home or apartment can be insured for a specified amount, or be insured for replacement cost. Replacement cost coverage means that your belongings are insured for the amount it will cost to replace them.

All-risk renter's insurance policies cover losses from any cause, as long as it's not intentional. Even an unexpected and unusual disaster like a car driving through your living room would qualify for coverage under an all-risk renter's insurance policy.

One of the most important parts of a renter's insurance policy is coverage for additional living expenses. The 650 Parliament St. fire highlighted the importance of coverage for living expenses. Additional living expense coverage made surmounting challenges after the disaster much more bearable.

What about liability insurance for renters?

Many people don't think about personal liability insurance until a visitor is injured. If someone is visiting your apartment and slips and falls, you may be liable for medical costs or replacement of lost wages. Renter's insurance can include personal liability coverage that will cover accidents, unintentional injuries, and mishaps like accidentally leaving the water running and flooding the unit below.

When considering renter's or tenant's insurance, it's wise to consider your personal situation and what kind of coverage you need. Renter's insurance can be very affordable. Compare up to 30 renter's insurance quotes through InsuranceHotline.com.

# data[].attributes.attachment_link.title
Why Do I Need Renter's Insurance in Canada?

# data[].attributes.attachment_link.description
According to the Insurance Bureau of Canada, about half of Canadian renters don't have renter's insurance. Many people believe that their landlord's insurance will cover any losses from a disaster, from storm damage to fire. Major fires like the August 2018 blaze at 650 Parliament St.

# data[].attributes.body
This article covers the basic statistics of renter's insurance in Canada, the importance of liability coverage, and how it overall works. It notes statistics about how much it cost depending on what city you live in (Toronto is $211 a year). Liability coverage can save you from very expensive lawsuits. Lastly, it is important to know how much it truly would cost to replace all of your belongings in the case of a fire or other types of damage.

I chose this website because it is simple and straight to the point. It was easy for me to understand and further think about as I analyzed it. I found it interesting that they compared and listed all of the prices of renter's insurance depending on the city you lived in (Canada). This made it all the more important for me to include in this assignment.

# data[].attributes.attachment_link.readable_text
Find the cheapest tenant insurance quote by comparing quotes from 30+ providers in a single search!

How to get cheap tenant insurance online

Get multiple tenant insurance quotes in the time it takes to get just one.

2. Enter Your Information

Tell us about your apartment and personal belongings.

3. Compare Your Quotes

Compare tenant insurance coverage and quotes from 30+ insurance companies.

4. Pick Your Policy

Pick the tenant insurance policy and company that's right for you.
Get Tenant Quotes

What is tenant insurance?

Tenant insurance is similar to home insurance, but it is for people who rent (rather than own) their home. Some people call it "renter's insurance."

Your landlord will have their own insurance, but it does not extend to you or your things. Many landlords will require you to take out a tenant insurance policy as a condition of your lease.

Tenant insurance includes:

This protection could prove invaluable in the event of a disaster, and it is available for just a few dollars per month. If you pay rent, you should have a tenant insurance policy.

How much does tenant insurance cost?

Typically, tenant insurance costs about $200 a year, less than a dollar a day. Your premium is based on how much coverage you need (the value of your contents and the liability limit you choose), where you live, your claims history, your chosen deductible, and the type of building you live in. According to internal data, tenant insurance in Ontario costs an average of $210 a year, or $17.50 a month. Tenant insurance in Alberta averages just $168.70 a year, less than $15 a month.

Here is a list of the average tenant insurance price for several major cities in Ontario and Alberta:

City

Average Tenant Insurance Cost

Barrie

$209

Brampton

$227

Burlington

$199

Calgary

$182

Cambridge

$238

Edmonton

$147

Hamilton

$203

Kitchener

$191

London

$201

Markham

$201

Mississauga

$194

Oshawa

$224

St. Catharines

$227

Sudbury

$328

Toronto

$211

Vaughan

$288

Windsor

$299

What does tenant insurance cover?

Tenant insurance covers your possessions, living expenses and your personal liability.

According to Statistics Canada, about one third of Canadians rent their home, but only half of these renters have tenant insurance. By opting out, millions of Canadians are taking a on a huge financial risk.

How does tenant insurance protect my belongings?

Consider how much stuff you actually own and how much it would cost to replace it all. Replacing furniture, electronics, clothing and everything else in one go, is beyond the financial capability of most people. Even a less than total loss, like a burglary, can result in financial stress. A tenant insurance policy protects your belongings in the event of damage or theft.

Did you know your possessions are not only covered while in your home, but outside of your home too? That means if your new camera goes missing while you are on holiday, or your golf clubs are stolen from your car, tenant insurance will help.

When would I need insurance for living expenses?

If you're not able to live in your apartment while repairs are being made after an insured loss, your tenant insurance policy will help with expenses until you can to move back in. For example, hotel bills, restaurant meals, and moving costs may be covered, as they're expenses you wouldn't have to pay if you were at home.

What is liability coverage and why do I need it?

Personal liability lawsuits can have huge financial implications for those found responsible, often costing millions of dollars. Liability coverage as part of a tenant insurance policy could save you from financial ruin.

Imagine a kitchen fire, which then spreads to a common area, or a faucet left running, which floods the unit below. Whether it is due to carelessness or bad luck, these things happen, and if they happen to you, you will want help with the ensuing legal costs.

There's also the slip and fall risk. If a visitor wipes out in your unit and is hurt, you may be liable for the costs associated with their medical expenses, rehab efforts, and time away from work.

You can always increase your liability coverage if you want additional protection.

Tenant insurance claims

When should I file a tenant insurance claim?

If you are facing a serious loss, and it is covered in your policy, go ahead and make the claim. This financial protection is why you have insurance. If you are dealing with a minor issue and the cost to fix the problem is less than your deductible, keep insurance out of it.

If you do decide to make a claim following an insurable event, contact your insurance company as soon as you can. The window of opportunity to make a claim will close soon after the event as happened.

What documents do I need to file claim?

The documents you need depend on the type of claim you are making.

If you are being sued for liability, send a copy of the lawsuit to your insurer as soon as you receive it. They are legally bound to represent you, based on the terms outlined in your policy.

FAQ - Frequently asked questions about tenant insurance

Some items may be subject to exclusions or maximum limits, and if you want them covered you'll have to add a floater or rider to the policy. Jewelry for example is covered, but up to a limit. Most tenant insurance policies have limits on certain items, and jewelry is one of them.

This means that the maximum the insurer will pay is limited to the amount specified in the policy. Although the maximum will vary, a $5,000 limit is not uncommon. The same may be true for really expensive bikes, or if you own a lot of expensive electronics. Read your policy carefully to determine your exact coverage.

Tenants insurance covers your personal belongings (contents) and protects you from liability, while home insurance covers the physical structure of the home in addition to contents and liability.

Homeowners obviously want to protect the house itself, but this isn't necessary for tenants because you are renting and not an owner of the property. If something were to happen to the structure (for example, severe weather damaged the building), property insurance would covered the insured damages.

Yes. These terms are used interchangeably, but they are the same type of coverage. You may also see it listed as contents insurance, tenants insurance, renters insurance, renter insurance and so on. All of these terms describe the same thing, but some companies prefer to use one term over another.

Your landlord will have property insurance on the physical structure of the building, but this will not protect anything in it. If there is a fire that starts three units down and your belongings are destroyed, for example, your landlord's property insurance would cover the structure of the unit and your contents insurance would cover your personal contents in your unit.

As the renter, liability inside the home shifts to you in the majority of cases. If someone is injured at your house, for example they trip over something on the floor, then your insurance can help protect you from liability. An exception might be if the landlord has failed to ensure your apartment is up to code. In this case, they might be responsible for the liability.

Also, your renter's insurance can cover you in instances where you or your property causes damage to the building. For example, if your bathtub overflows causing damage to the unit below you, or something heavy significantly damages the flooring. These are reviewed on a case by case basis, but renter's insurance can make all the difference in these situations and save you from having to pay for damages out of pocket.

Not necessarily. If you were living at home and were already covered under your parents' home insurance, then coverage likely carries over to your dorm room. However, many students opt to get renter's insurance even when in a dorm room, especially in cases where they have expensive technology or equipment that would be costly to replace. In this case, it's best to get your parents to check with their existing home insurance provider to find out if you're already, or adequately, protected.

It is not mandatory to obtain tenants insurance from a legal perspective, but many landlords and property owners require proof of insurance in order to rent the property out to you. This is to ensure you and your unit are adequately protected. It is not illegal for them to ask this of you.

Under the liability component of many insurance policies, pets such as dogs are considered your property. This means that if your dog bites someone and the person sues you for damages, for example, then your liability insurance can protect you. Pets are only covered under the liability component of a renter's insurance policy.

However, not all insurance policies offer this coverage, there may be limits or exclusions on certain breeds and species, or you may be required to inform your insurer about your dog/pet ahead of time in order to be covered under your tenants insurance policy. We recommend double checking with your insurer to ensure you're protected.

Did you know that if you bundle your tenant insurance policy with your auto insurance company you may qualify for a multi-line discount? It's not just available to people with a home insurance or condo insurance policy. The discount can range from anywhere from five to 15 per cent off of one, or even both of your policies.

More ways to save include:

Increase your deductible: this is the amount you are required to pay in the event of a claim. Increasing from $500 to $1,000 reduces your monthly expenses (just make sure you can afford the higher amount).

Ask about discounts: There are lots of discounts available for renters including university and alumni discounts, professional association discounts and more. Ask what savings you might be qualified for.

Get enough coverage: Make sure you get adequate contents coverage. Most policies start at $25,000, but if the value of your belongings is more than this (and for many of us it is) you'll want to make sure you have enough to cover your belongings in the event of a claim, thus saving you money on replacement costs.

Shop around: The easiest and best way to save. Compare tenant insurance quotes to see how much you can save today.

360 Adelaide Street West, Suite 100, Toronto, ON M5V 1R7, Canada All rights reserved.

Our site uses cookies to provide the best online experience. By continuing to browse the site, or clicking okay, you agree to allow cookies. Our privacy policy has more information on the use of cookies and how to manage them. OK

# data[].attributes.attachment_link.title
Tenant Insurance Quotes: Compare & Get The Cheapest Quote

# data[].attributes.attachment_link.description
Find the cheapest tenant insurance quote by comparing quotes from 30+ providers in a single search! Get multiple tenant insurance quotes in the time it takes to get just one. 2. Enter Your Information Tell us about your apartment and personal belongings. 3. Compare Your Quotes Compare tenant insurance coverage and quotes from 30+ insurance companies.

# data[].attributes.body
This article covers landlord insurance, renter's insurance, how they compare, and where to get either of the two. It discusses how landlord insurance protects landlords from liability coverages and will cover overall building damage (i.e. a fire). It also points out that renters insurance is only responsible for the property in which you live, not the building itself. Lastly, it notes that effective coverage is a great option for renters and landlords.

I chose this article because it clearly lays out both renters and landlord insurance and how they differ. I liked this website because it shows the difference between the two. It differs from my other linked content because it breaks down both and thoroughly covers the specifics of each in an efficient manner. I found it interesting that landlords had insurance as well to protect themselves.

# data[].attributes.attachment_link.readable_text
Many people are confused about the difference between renters insurance vs. landlord insurance. This may stem from the fact that many people incorrectly refer to the person who owns the home they live in as their "renter" rather than their landlord, or another semantic issue. But there's a vast gulf of difference between the two, so you'll want to make sure you get the right one - especially if you're the one that owns the dwelling being rented! Tacoma, WA Renters Insurance is right for one of you, but only for one of you.

What Is Landlord Insurance?

To look at renters insurance vs. landlord insurance, we need to know what landlord insurance is, in the first place. Landlord insurance is the policy that covers the dwelling itself. If there's a fire, and the building burns to the ground, landlord insurance rebuilds it. It may cover some contents that come with the rental, as well, but mostly it's there for the building.

Landlord insurance also protects the owner of the rented dwelling against liability risk. If someone sues them, the policy can defend and potentially pay for those claims. That keeps the building in the owner's possession so it doesn't have to be sold to pay for that liability claim.

What Is Renters Insurance?

Understanding renters insurance vs. landlord insurance requires a quick look at a renters policy, as well. Renters insurance does not cover the dwelling. The renter is not obligated to insure the building, because they don't own it. In fact, a renter can't cover the building for that very reason - they'd suffer no direct loss as a result of the building being destroyed in and of itself.

You would, of course, suffer a loss from not being able to use the rental, and that's where loss of use coverage on your renters insurance comes into play. It pays for you to stay somewhere else while repairs are being made or while you relocate after a covered loss. Those expenses can often be significant.

Renters insurance also covers your personal property, because your landlord can't insure that for the same reason you can't insure the building. He suffers no loss if your personal property is destroyed. You would, of course, have a significant loss if you had to replace everything you own. That's why you need renters insurance.

Renters insurance also provides you with liability protection as well. That's one commonality between the two policies, both offer liability coverage and defense coverage for the same. That means if you're sued for something (like starting a fire in the building through your negligence) you can have a defense and the claim can be paid without resorting to your own resources.

Renters Insurance Vs. Landlord Insurance

Renters insurance covers the contents, or personal property, inside the dwelling that you rent, but not the building. Landlord insurance, on the other hand, covers the building and generally not the contents. This is because each party to that lease has specific things that they own which would cause them a loss if they were destroyed, but neither has an interest in the others' property.

Tacoma Renters Insurance will cover loss of use for you as a tenant if there's a covered loss that results in you not being able to live there for a period of time. That pays for a hotel for you to stay in, for example. Landlord insurance loss of use, on the other hand, might cover the rent that you're not paying because you're not able to live in the dwelling unit and the other expenses related to having the unit vacant.

Both landlord and renters insurance are likely to include medical payments to others coverage, which is a small good-faith payment for someone who is injured on the property but where there is no actual fault to be found which caused the injury. This is because both parties could be responsible if there were negligence or fault, and the good faith payment resolves it at minimal expense and trouble for everyone.

Both renters insurance and landlord insurance will include liability coverage. If someone suffers a loss as a result of the insured's negligence, there's coverage for the loss and coverage for defense. Often times, you'll find that responsibility for a loss can overlap between tenant and landlord which is why the policies both provide the coverage - if someone slipped on a snowy walk, it wouldn't matter who the lease said should have shoveled it. It only matters that someone was injured on the premises for which both parties were responsible. In that case, each person would likely be defended by their respective policies.

As you can see, there are significant differences between landlord insurance and renters insurance. Those differences are important. Renters insurance is also much less expensive, which is another important difference that you should be aware of. The average renters insurance policy nationwide is about $187.00 a year, and renters insurance in Washington can often be much cheaper than that! Sometimes you can even save money by having a renters insurance policy because bundling your car insurance in with it can reduce the price of the auto policy by more than what the renters policy costs!

How Can I Buy Fast, Cheap Landlord Insurance Or Renters Insurance?

Effective Coverage was built from the ground up to meet the insurance needs of tenants. You can get a policy in just sixty seconds by clicking above, or you can call and speak with an insurance expert for renters and have all of your questions answered efficiently.

If you're a landlord, we've got policies for you, as well. Just call and work with an insurance expert and we can look at your options, make sure you're not currently underinsured, and even see if an umbrella policy might be appropriate. They often are, especially with multiple properties. There are a wide variety of risks that landlords face in this day and age.

Whatever your insurance needs, Effective Coverage works to help you get the right coverage at the right price. All you have to do is call (800)892-4308 or click to get covered - whether you need Washington renters insurance quotes online or coverage anywhere else!

Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.

What's Your Style?

Do You Need Coverage ASAP? Check out the fastest way to buy renters insurance online and get covered in just 60 seconds!

Do You Feel Like Talking About It? Just call Effective Coverage and a renters insurance expert can help you get great coverage in minutes.

Do You Need Some Time Alone With Your Thoughts? We understand, which is why we created the Washington Guide To Renters Insurance.

Just Want To Watch A Movie Together? See our video guide below.

# data[].attributes.attachment_link.title
Renters Insurance Vs. Landlord Insurance

# data[].attributes.attachment_link.description
Many people are confused about the difference between renters insurance vs. landlord insurance. This may stem from the fact that many people incorrectly refer to the person who owns the home they live in as their "renter" rather than their landlord, or another semantic issue.

# data[].attributes.headline
Website#4: Is Renters Insurance  Mandatory in Ontario?

# data[].attributes.subject
Website#4: Is Renters Insurance  Mandatory in Ontario?

# data[].attributes.body
This article covers what it is, what it covers, the associated costs, and if it is mandatory. It discusses how liability coverage covers guest injury, contents coverage covers repairs and replacements for damaged or stolen items, and additional living expenses coverage covers living costs in unexpected events. It also says that basic renter's insurance is about $20 a month and that renters's insurance is not mandatory in Ontario but some landlords will require you to have it.

I chose this article because it identifies basic costs, goes over three of the categories, and discusses whether or not it is mandatory in Ontario, which it is not. I found it interesting that some landlords will require you to have it. This made me want to include it since other content linked did not discuss this fact.

# data[].attributes.attachment_link.readable_text
Moving out on your own and signing that new lease is a great step towards independence. If you've recently moved into a new place, or you're looking at your budget while apartment hunting, you may be wondering, "is tenant insurance mandatory in Ontario?" Regardless of whether you are renting an apartment or a whole house, you should consider getting tenant's insurance to cover you in many circumstances. What does tenant insurance cover? Keep reading this blog to learn more about how tenant insurance is a great choice when you move into your new place!

What Is Tenant Insurance?

Tenant insurance, also commonly called renter's insurance, can be compared in many ways to home insurance. The primary difference between tenant insurance and home insurance is that tenant insurance does not provide coverage for the actual building itself because it's the responsibility of the landlord who owns it. Rather, tenant insurance is tailored towards protecting your personal property within the home, liability and additional living expenses if you have to make a claim. Each policy can be tailored uniquely to your stiuation, but let's take a look at those coverages options more closely:

What Does Tenant Insurance Cover: Liability

Personal Liability is a coverage designed to protect you legally if you accidentally injure someone, or they are hurt on your property. If you don't have tenant insurance, you are on the hook to pay for any damages and legal fees associated with a lawsuit against you. Tenant insurance provides peace of mind and financial protection for you if someone sues you due to injury. A basic policy will cover you for $1 million, and you can also increase your liability limit to $2 million with many of our carriers.

What Does Tenant Insurance Cover: Contents

Contents coverage can be purchase for a specific dollar amount (ie. $40,000) to cover the cost of repairing or replacing household items in the event of a covered claim. This can include any of your belongings such as furniture, clothing, electronics, jewelry, etc. The cost of items adds up quickly, so it's important to build a home inventory to get an accurate estimate of your personal property. Some items may be subject to limits, so speak with a broker so that you understand clearly what limits may exist on your policy. You can also take out a rider for individual items that are more costly including fine art, special jewelry such as an engagement ring, or wine collections as they may exceed the regular limits within your contents coverage.

What Does Tenant Insurance Cover: Additional Living Expenses

If you end up with a flood, fire, or other loss, it may render your home unlivable until repairs are complete. With tenant insurance, while they assist you in the cost of damage to your personal property, they also provide finances for living expenses associated with having to live elsewhere temporarily. Additional Living Expenses coverage (ALE) will often include meals and a temporary rental or hotel while repairs are going on. This coverage can also apply if the accident originated in another apartment unit in your building but you were affected by the damages.

Is Tenant Insurance Mandatory in Ontario?

The simple answer to the question, "is tenant insurance mandatory in Ontario?" is no, Ontario does not require that all renters have tenant insurance. Often a landlord will require a tenant to obtain renters insurance as a condition in the lease. As you can see, there are so many benefits to having coverage even if it's not required! A common misconception is that if the damage is caused by another tenant in the building, the landlord or neighbour is required to pay the damage to your contents, however this is not true. If a neighbouring unit causes a fire or flood and subsequent damage to your personal property, without tenant insurance, you are responsible for repairing or replacing your belongings. On the other hand, if you are responsible for damage to the building and other units, you may be sued and expected to pay. Even if your landlord doesn't require tenant insurance, there are many benefits to having a policy for a very small cost.

How Much Does Tenant Insurance Cost?

There are several variables affecting the cost of tenant insurance, but you can usually find basic coverage for as little as $20 per month. When you add up the value of personal property you've acquired over the years such as electronics, furniture and clothing, the security of a tenant insurance policy is highly valuable. Keep in mind that you will choose a deductible, which you must pay towards the claim before your insurance starts paying.

While we've answered the question of, "is tenant insurance mandatory in Ontario?" when you can get tenant insurance for such a minimal cost, it's definitely worth the purchasing when you consider all that tenant insurance covers. You may also be able to bundle your tenant package with your auto insurance to get an even greater discount! If you're ready to get a tenant policy today, or to learn more, our BIG brokers are available to help get you a no-obligation quote. Contact us to get started!

# data[].attributes.attachment_link.keywords[]
is tenant insurance mandatory in ontario

# data[].attributes.attachment_link.title
Is Tenant Insurance Mandatory in Ontario?

# data[].attributes.attachment_link.description
If you've recently moved into a new place, or you're looking at your budget while apartment hunting, you may be wondering, "is tenant insurance mandatory in Ontario?" What does tenant insurance cover? Keep reading to learn more about how tenant insurance is a great choice when you move into your new place!

# data[].attributes.headline
Image #1: 4 Main Types of Renters Insurance

# data[].attributes.subject
Image #1: 4 Main Types of Renters Insurance

# data[].attributes.body
In this image, it goes over what it is and the 4 main areas renter's insurance covers. It covers, personal property which will protect your things like clothing items and anything stolen. They also discuss family liability which will protect you from having to legally and personally cover medical bills, etc. There is also guest medical coverage if anyone gets hurt on your property. Then there is additional living expense coverage which will protect you from an event in which you have to leave your property and stay at another location, it will then cover those said expenses.

I chose this image because it perfectly lays out everything that renter insurance will cover in a simple and easily understood way. I liked that it broke it down into four main categories so it is easier to read as well. It included a lot more simple facts compared to the other links within this padlet.

# data[].attributes.body
In this image, it goes over facts for renters when it comes to fire damage. It lists statistics on how often fires happen, how much the damage can cost. It can cost about $65, 000 in damages and almost one quarter of home fires are apartments.

I chose this image because it gives you quick and easy facts about fires which are very common and all people should get coverage for, including renters. I like that this image goes over one topic so it can give you solid information that isn't insanely broad like in certain websites.

# data[].attributes.headline
Video #4: Things To Know As An Ontario Tenant

# data[].attributes.subject
Video #4: Things To Know As An Ontario Tenant

# data[].attributes.body
In this video, it covers important things to know as a renter, like your rights and tenant's insurance. For example, she discusses how your landlord can ask you personal questions, She also says that there is no law saying you absolutely need to have content insurance to rent. Landlords also must provide you with a rent receipt if you ask and if you have any problems with them you can write to property management or file a complaint directly to the Tenant Board.

I chose this video because it not only discusses tenant's insurance, but also other important things to know as a renter. I felt it was important to include this video because it is important to know your overall rights when renting, and not just what insurance you should have. I found it interesting that you should get a copy of your rent receipt  as I did not know that was a thing. Overall, it includes many facts that are important to know as a renter.

# data[].attributes.attachment_link.title
Ontario Tenants - Frequently Asked Questions | #ThursdayThoughts