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Tenant Insurance Overview

Tenant Insurance

In this blog, the Campbell & Haliburton team gives a tenant insurance overview by exploring some frequently asked questions. We answer these three in particular: what is tenant insurance, what does tenant insurance cover, and where can I get it?

 

So, What Is Tenant Insurance?

 

Most people understand home insurance, but did you know that, as a renter, most Regina property management companies will require you to have tenant insurance? This insurance will protect your personal belongings from fire, theft, water, and sewer back-up.

Comprehensive tenant coverage insures your home’s contents, including personal property, and can also provide liability coverage for unforeseen events. There are various choices, so requesting a quote on any personal property insurance you may be considering is important. This is because it allows you to compare the available options for renters. Further, this helps you understand the coverage while finding the best rate for your tenant insurance.

 

What Does It Cover?

 

It covers higher-end items such as:

  1. Jewelry
  2. Boats and Motors
  3. Bicycles
  4. ATVS

Similar valuables can also be insured under the umbrella of tenant insurance. It’s essential to both protect your belongings and have additional living expenses covered should your circumstances make this necessary.

 

Did you know? You need tenant insurance when you're renting!

 

How Do I Get It?

 

Campbell & Haliburton (myCH.ca) is proud to have served Regina tenants since 1957. Further, myCH.ca is a certified SGI Canada insurance broker that knows the importance of selling an insurance policy and educating each customer, as such we offer affordable tenant insurance can meet any need. One of our knowledgeable brokers would be happy to discuss your coverage with you so you receive the best possible policy to meet your specifications. Please feel free to contact us for a quote, and we will be pleased to review your options.

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FAQs

Is tenant insurance a requirement?

It depends on the landlord or property management company. It is becoming more common for companies and landlords to require tenants to have coverage.

What is comprehensive coverage?

Comprehensive Insurance covers a wide range of risks, providing protection for any damage or loss that isn’t specifically excluded in the policy.

What is named peril insurance?

Named Peril Insurance covers only the risks that are specifically listed in the policy. If a risk isn’t named, it isn’t covered. This type of insurance provides more limited protection compared to comprehensive insurance.

Does tenant insurance cover relocation?

If something requires you to leave your unit while repairs are made, then yes, tenant insurance can cover the cost of living elsewhere, plus meals.

Are floods and sewer backups covered?

Yes, tenant insurance covers sewer backup or flooding due to sudden weather events.

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