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There are advantages to being a renter…

As a renter, you’ve got it pretty good: No property taxes, no lawn cutting, no snow removal … Just simple living!

But what would you do if you returned from work, or a vacation, and all your possessions in your apartment had been destroyed by a fire? Or if there was a break-in and some of your most expensive stuff was stolen?

You might assume that your landlord’s insurance will take care of the damage caused by a fire and pay to replace your belongings.

It doesn’t.

Your landlord’s insurance will only cover the building – not your personal property. This means all your furniture, electronics, appliances, clothing and jewellery are uninsured unless you purchase a tenant’s insurance policy.

The Cost Of Replacing Your Stuff

You might think that all of the things you have accumulated over the years aren’t worth that much – and they might not be, in their current state. But what if you had to replace your entire wardrobe? Buying a new bedroom set, clothing, or a computer can cost much more than you think—especially if your current ones are older or out of date.

All of our tenant’s insurance policies are replacement cost – which means that even if your wardrobe is threadbare the insurance company will replace it with new items.

You’ll be surprised at how affordable tenant’s insurance can be. Besides covering all your stuff, it covers you from being held liable for if someone hurts themselves while they’re in your home. So in the unfortunate event you’re sued, and the judgement goes against you, the policy will cover you.

Do you need renter’s insurance?

According to recent estimates, nearly two-thirds of renters are uninsured for their contents or for any liability arising out of their tenancy. Don’t be a statistic …

First, do the math and add up how much it would cost to replace your belongings.

Second, request a tenant’s insurance quote to verify just how affordable it is to protect your belongings from perils like theft, vandalism, fire, and falling objects.

What else is covered?

Tenant’s insurance covers virtually all your personal possessions. Most policies provide coverage for electronic goods and equipment, small appliances, sports equipment, cameras and photography equipment, furniture, clothing, glassware and china, and books. Your policy will generally include:

  • Personal property protection

  • Third party liability protection

  • Additional living expenses

  • Liability protection for people on your property

  • Lawsuits where you are held responsible for: Injury to another person; Damage to another person’s property (whether the incident occurred within your rented residence or elsewhere)

Again, we encourage all renters to spend just five minutes with a calculator to add up the cost of replacing everything they own. What if you came home tomorrow and your apartment had burned down? Where would you go? How would you pay to replace your clothing, furniture, and appliances? When you ask yourself what tenant’s insurance covers, you can relax and say yes to all of the above.

The Nesika Insurance Services Inc. Difference

You may think you want the cheapest insurance, but realise that you may not be getting everything you bargained for …

… While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring their policies. Minor differences in wording can mean major differences in what’s covered after a loss.

You can be confident that all of the insurance policies offered by Nesika are underwritten by premium markets that have a proven track record of paying their claims.

There’s no such thing as a one-size-fits-all insurance policy. Call us at 604-448-9196 or send an email to info@nesika.ca now to have our experts put together the policy that’s right for you.