Nearest broker: Searching for a broker nearby…
Nearest broker: , Edmonton, AB Phone: 780.755.0110 5020 Lac St Anne Trail N, Onoway, AB, T0E 1V0 Phone: 780.967.2282 , Edmonton, AB Phone: 825.467.5631 206 Pembina Rd, Sherwood Park, AB, T8H 0L8 Phone: 780-732-8616 10060 Jasper Ave, Edmonton, AB, T5J 3R8 Phone: 780-435-3632 , Calgary, AB Phone: 403-532-4882 322 Avenue C S, Saskatoon, SK, S7M 1N4 Phone: 639-398-4170 5317 50 Ave, Taber, AB, T1G 1V3 Phone: 403-223-2377 110a McLeod Ave, Spruce Grove, AB, T7X 2H8 Phone: 780-571-1144 496 Marquis Rd, Prince Albert, SK, S6V 8B3 Phone: 306-970-8080 335 Hwy Avenue N, Picture Butte, AB, T0K 1V0 Phone: 403-732-6023 2201 Box Springs Blvd NW, Medicine Hat, AB, T1C 0C8 Phone: 403-487-5132 550 Wt Hill Blvd S, Lethbridge, AB, T1J 4Z8 Phone: 403-394-1123 734 13 St N, Lethbridge, AB, T1H 2T1 Phone: 403-328-9114 5 St SE, High River, AB Phone: 403-652-4104 9904 103 St, Fort Saskatchewan, AB, T8L 2C9 Phone: 780-998-0881 201-4271 23 Ave NW, Edmonton, AB, T6L 5Z8 Phone: 780-466-2136 3908 97 St NW, Edmonton, AB, T6E 6N2 Phone: 780-465-6900 8170 50 St NW, Edmonton, AB, T6B 1E6 Phone: 780-469-9378 52 Ave, Drayton Valley, AB Phone: 780-621-1707 1331 Macleod Trail SE, Calgary, AB, T2G 0K3 Phone: 403-278-1050 1331 Macleod Trail SE, Calgary, AB, T2G 1E1 Phone: 403-255-2252 234-7 Westwinds Crescent NE, Calgary, AB, T3J 5H2 Phone: 403-775-2100 , Calgary, AB, T3K 0S8 Phone: 403-719-9995 5114 2 St, Boyle, AB, T0A 0M0 Phone: 780-689-3946 50 Ave, Bonnyville, AB Phone: 780-826-3147 12931 20 Ave, , AB, T0K 0E0 Phone: 403-562-2191 2903 Kingsview Blvd SE, Airdrie, AB, T4A 0C4 Phone: 403-945-8885

Do I need tenant’s insurance when I rent a house or condo?

Renters Insurance

By Romana King | May 27, 2016

Finding a good place to live is certainly a moment to celebrate. It’s also the perfect time to ask: do I need renter’s insurance? Whether you’re renting an entire house or a small apartment renter’s or tenant’s insuranceis the best option to protect your belongings. It may also be required by your landlord in your lease agreement.

Doesn’t my landlord’s insurance cover me?

For many renters the assumption is that because the landlord must have insurance there’s no point in getting tenant’s insurance. Here’s the problem: If there was a fire that destroyed the home you rented and everything in it the landlord’s insurance policy would only pay to rebuild the home; it wouldn’t reimburse you for everything you lost in the fire. That’s because the landlord’s policy only protects their property —the condo or house— not your belongings . By law and through the eyes of the insurance company your belongings are your responsibility to protect.

What is tenant’s insurance and how does it work?

Just like the landlord’s insurance policy your renter’s insurance protects you from having to pay out-of-pocket for the damage or loss of your property. Your insurance policy will define what is and what isn’t covered but usually things that are sudden and catastrophic are covered such as fires theft and storms.

You’ll be asked about your policy limit when you purchase your tenant’s insurance. This is the maximum amount you will be paid in the event of a claim – you want this amount to cover the cost of replacing all of your personal belongings. This includes your furniture clothing electronics books et cetera.  The best way to determine how much coverage you need is to add up what it would cost to replace everything you own then get an amount close to this as your coverage limit.

I have to pay a deductible when I file a claim? Why?

Virtually all insurance policies come with a deductible. A deductible is the amount you pay out of pocket when you file a claim. So If you have a deductible of $500 and your basement gets water damage from a sewer backup causing $5 000 in damage then your renter’s insurance would cover $4 500 of the cost to replace your belongings and you’d pay $500.

What if I can’t live in my rented home after a loss?

So here’s the great thing about renter’s insurance: If an insured loss renders the place uninhabitable your insurance policy should help you cover the cost of temporary housing and living expenses. There is a limit to this amount and make sure you keep all of your receipts as you’ll likely have to pay upfront. For information about this coverage check out this article.

Given all that renter’s insurance can do it’s worth the small monthly cost. Remember it’s always cheaper to pay the premium than to have to pay out of pocket to replace all your lost belongings.Talk to your brokerto find out more.

Get A Quote From A-WIN

Get the best insurance deals and stay on budget.

Get A Quote

Life Events - It's Time to Reassess Your Insurance

Whether it’s heading off to university or deciding to start your own business,...


Rogers Insurance and CapriCMW merge to become Acera Insurance.

A-WIN Insurance is part of the Rogers Insurance Group.

Click to learn more about how this merger will impact A-WIN Insurance. Our branches will remain independently owned and operated.