Tenant Insurance

While most renters tend to think that they are covered under their landlord's rental policy, this is not actually the case. Your landlord's insurance will only cover their property, which means that you will have to purchase tenant insurance in order to protect your personal belongings. As an Abbotsford insurance agency, Mountainview Insurance carries a range of different renter's insurance policies, making it easy to compare and find the best policy options for your unique requirements. Get in touch with the expert insurance brokers from Mountainview Insurance today to get a free tenant insurance quote.

What is Tenant Insurance?

Tenant insurance or renter's insurance works by providing coverage for a renter's personal property in the event that it is stolen, destroyed, or accidentally damaged. Depending on the type of policy you choose, renter's insurance may also provide liability coverage and financial protection if someone is accidentally injured or if their property is unintentionally damaged while in the rental property. While purchasing tenant insurance is not mandatory in BC, renters should strongly consider getting a variety of different quotes for personal liability and contents insurance in order to find the best policy.

The Importance of Tenant Insurance

When choosing whether or not to purchase tenant insurance, it is important to keep in mind that your personal property is not covered under your landlord's insurance policy. This means that, without renter's insurance, your property will not be covered if it is stolen, damaged, or destroyed. No matter what kind of personal items you own, having the right kind of tenant insurance will ensure that your property is covered in the event of an insurable peril. Tenant renter's insurance also provides coverage for additional living expenses if you are forced to leave your home due to a serious loss.

Types of Tenant Insurance

Some of the different types of insurance policies that renters can choose from include:

Personal Property Coverage

Personal property coverage is designed to help cover the cost needed to replace items that have been unexpectedly damaged or ruined. This type of renter's insurance only applies to certain risks or perils, such as fire or theft, that are outlined in the policy. When purchasing tenant insurance, it is important to keep in mind that not all belongings may be covered under this policy and that other items—jewelry, coin collections, etc.—will only be covered up to certain amount. Make sure to consult with an insurance broker about whether or not you should purchase additional coverage to help protect specific items that are not protected under a standard policy.

Liability Coverage

Liability coverage protects you from having to pay for certain costs, such as medical bills, out of pocket in the event that you are found legally responsible for injuring someone or causing damage to their property. Similar to other types of tenant insurance policies, liability coverage will protect you for covered losses and will only pay up to a set amount, as outlined in your policy. Make sure to carefully read your insurance quote and to ask your insurance provider about the limits outlined in the policy.

Additional Living Expenses

Most tenant insurance policies include coverage for additional living expenses if you have to leave your house due to an insured peril. This type of coverage can help cover the cost of hotel bills and food while you are unable to live in the home you are renting.

Tenant Insurance from Mountainview Insurance

The expert team from Mountainview Insurance in Abbotsford, BC offers a wide range of different tenant insurance policies at competitive rates and with discounts. If you are looking to get a free quote on tenant insurance, get in touch with us today. Our friendly team members would be more than happy to help you choose the best coverage options for specific situation.

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