Tenant’s Insurance in NS, NB & PEI
Most landlords these days will ask about renter’s or tenant’s insurance. Most of them are genuinely concerned that you protect yourself against property loss, but they probably also have an insurance company asking them to ensure that all their tenants have renter coverage.
If something happens and causes a loss to the building and it’s deemed your fault, you can be sued for the damages. Something as simple as an unattended candle on a table or a pet chewing on something they shouldn’t can cause a fire, which could destroy your apartment, or worse, the entire building.
What Does Renter’s Insurance Cover?
Tenant’s insurance will help you rebuild your life after a loss. It will replace your personal property – things like clothes, furniture and other personal belongings. It can also help pay for any additional costs that may arise from you being out of your apartment while it is being repaired. Hotel bills, restaurant bills, and moving costs are all claimable in the event that you can’t live in your apartment due to a claim.
Because renter’s insurance covers what you own, it protects your personal belongings while in your car, too. You’re covered against the cost of replacing your contents if damaged or stolen while inside or outside your home.
Tenant’s insurance also includes liability coverage, which might be the most important part of the policy. Something as simple as a friend coming into your apartment and falling down could be your fault, and without tenants insurance, you’re on the hook.