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

Should I require my tenant to have renter’s insurance?

Renters Insurance

By Viola Wallace | August 14, 2018

Many landlords do not require their tenants to have their ownrenter’s insurance. While not necessarily required renter’s insurance benefits both the landlord and tenant and it is a good idea to require all tenants to have it as a term in the lease agreement. Why?

Many tenants assume that their landlord’s policy will cover their personal property if it is damaged destroyed or stolen. This is not the case however. The only items that are covered under the landlord’s policy are items that the landlord personally owns like appliances or furniture (in a furnished apartment). The best way for tenants to protect their own possessions is to have renter’s insurance. It is inexpensive (usually under $20 a month) and can be paired with an existing car insurance policy for a further discounted rate.

What are some of the benefits of renter’s insurance? For the landlord there is an additional layer of liability protection. If someone is hurt on the rental property the tenant’s policy would respond first. It also helps reduce the possibility of a lawsuit and helps screen potential tenants (it’s a pretty big red flag if they won’t insure themselves).

Renter’s insurance offers liability coverage.

Liability coverage protects both the tenants and the landlord in the event they are found at-fault for damage to another person the apartment or the building. For instance if the tenant is found to be at fault for a fire that damages the building or the next-door neighbour’s property the tenant would be covered by their renter’s insurance.

Similarly if someone slips and falls in the apartment the tenant could be held financially responsible for the cost of the injured person’s pain suffering and medical bills. With renter’s insurance the tenant and landlord could rely on the insurer to carry the cost in such a situation.

Renter’s insurance reduces the possibility of a lawsuit against the landlord.

The most beneficial reason to require tenants to have renter’s insurance is because it helps the landlord in case of injuries.Quite often when an uninsured tenant suffers damage to their belongings they try to make a claim against the landlord – just or not. With their own policy the renters will have their belongings covered (as long as it’s covered by their policy).

Renter’s insurance helps screen potential tenants.

While that may not be its main purpose requiring rental insurance can also be a useful screening tool. If a landlord requires a potential tenant to have it and they complain about not being able to afford it that could be an indication that the potential tenant can’t afford the rent in the first place.  Renter’s insurance is so affordable that this should not be a difficult requirement to meet.

Make sure you request proof of insurance (at least annually) as some people will purchase a policy and cancel it – or  not get one at all.

Renter’s insurance helps the tenants.

Having rental insurance also protects the tenant in the event of damage to the tenant’s own personal possessions. And lastly if the renter can’t live in their home due to repairs after a claim and have to get temporary accommodation renters insurance would help with these additional costs.

Some closing thoughts…

Rental insurance is beneficial from both the landlord and tenant’s perspectives. It reduces stress for both parties and gives both the renter and the landlord peace of mind. This results in a better landlord/tenant relationship even in the event something bad happens.

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.