If you’re moving into a brand new apartment soon or are already renting, you may be among those who believe that it’s not necessary to have tenant home insurance. Of course, we understand that it’s more fun to buy home decor items than insurance, but we firmly believe that, before moving, purchasing insurance should be a priority that you can take care of by contacting your insurance broker or agent!
In this article, Assurances Multi-Risques wants to give you three excellent reasons to insure your apartment, even though you aren’t the owner.
Insuring all your personal property—a priceless investment!
Even if you don’t own very valuable furniture, your personal belongings still have a certain value! Think about your laptop, TV, clothing, household appliances, jewellery, etc. Adding together the value of each of these items will certainly amount to a substantial sum!
In the event of a disaster such as a fire, you wouldn’t want to spend several hundreds (or thousands) of dollars to replace all your property. This is one of the main reasons justifying the importance of taking out tenant home insurance. The compensation you receive will allow you to start afresh without breaking the bank!
Have you thought about your civil liability?
In addition to insuring your personal property, home insurance provides coverage called civil liability. This coverage protects you in the event that you are held liable for damages unintentionally caused to someone else.
You need to be aware that, in the event of a disaster, not only will the landlord’s insurance not cover your personal property, but, if you are held civilly liable for damage caused to the building by a fire or for water damage caused by a defective dishwasher, for example, it is highly probable that your landlord will take you to court for the financial loss incurred!
If you have home insurance, it would cover your civil liability. You would therefore be protected by your insurer, who would defend you and take care of paying for the damages caused to the building. Without such coverage, can you imagine how much legal proceedings would cost you? You would be looking at an outlay of several thousand dollars!
So are you still not convinced of the importance of taking out home insurance even though you’re only renting?
Reasonably priced insurance
If you thought that tenant home insurance was expensive, think again!
There are several home insurance products on the market, including some with higher levels of coverage. To find out which home insurance product best meets your needs and situation, we recommend that you contact an independent insurance broker.
Why? Because brokers take the trouble to analyze every client’s needs in order to offer them the most suitable and cost-effective insurance policies on the market. And, since they are independent professionals, they have access to a wide range of insurers across Canada, some of whom don’t sell directly to the public! In addition, their recommendations are always made with your best interest in mind. Brokers are impartial, so you can be sure you always get straightforward, honest advice!
They also monitor market fluctuations for you. Therefore, from one year to the next, your advisor is able to offer you different products at the best price. Brokers also look for every possible rate reduction you are entitled to. If you’re searching for savings, look no further!
To conclude
By investing a few dollars every month in a home insurance policy, you’ll be protecting your assets and your future. It will also allow you to enjoy peace of mind in your new apartment!
Insuring your possessions isn’t something anyone should take lightly. That’s why it’s important to get good advice and make the right decisions!