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4 min read

I Rent, So I’m Insured!

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You are Not Required to…

There is no law that requires a tenant to buy home insurance. So, some tenants think that if a loss occurs, they can easily replace their personal property.

But What Happens If...

Your flood your downstairs neighbor's closet because you forgot to turn off the bath faucet?

Or if your youngest child thinks he's Michael Schumacher with a grocery cart and damages the beautiful new car parked right there?

Civil Liability: 1 in 10 claims in Canada!

A homeowner's policy (for both homeowners and renters) covers liability for your daily life activities. This protection applies to the insured, his/her spouse, dependent children and pets. It will protect you, for example, if your neighbors sue you, if you cause water damage, or if you accidentally injure someone.

Most home insurance policies include liability coverage of between one and two million dollars. There are certain restrictions and limitations, such as the exclusion of certain breeds of animals and other malicious acts: check with your broker! 

According to the Insurance Bureau of Canada, in 2012, liability claims accounted for 9.4% of property and casualty insurance claims. This represents more than 2.6 billion $ 

Finally, your furniture and other uninsured belongings may cost you much more than you think....