tenant-insurance

Tenant insurance, do you need it?

Tenant insurance can be very important in some cases and in other cases, not important at all. It depends on the individual renting the property,. How much does your stuff mean to you? If your furniture is made of 2x4s and your possession mean nothing to you, then you shouldn’t bother with getting tenant insurance. There is one exception to the rule though, you will want to read your lease and make sure tenant insurance is not a term of your legally binding lease. Some leases require all tenants to carry tenant insurance for the term of the rental agreement. Its all about liability, of course.

Tenant Insurance - House
Well... at least we won't need tenant insurance...

 Now if your apartment or house is full of valuables and personal treasures, you will definitely want to get good tenant insurance in case the worst should happen and disaster should strike. You’ll want to make sure your covered for fire, flood, sewer backup and pretty much anything you can think of because anything that can happen, just might,. You have to remember if you’re living in an apartment building or row housing, you have neighbours and you just cannot predict or control what perils they might generate to your personal things. Simple smouldering cigarettes have burnt down more houses than you can possibly imagine, thousands, if not tens of thousand of houses, apartments and buildings.

Choosing tenant insurance companies can be simple or daunting, depending on what you expectations are. A much better option is to shop around for an insurance broker that can listen and assess your situation and provide a list of competing tenant insurance companies to choose from. With an insurance broker, you will pretty much be guaranteed the best price and quality service as he or she will get you reasonable insurance quotes. The brokers rely on word of mouth from happy clients to bring them more business, so you’ll be in goof hands.

Tenant Insurance - Books
Know your rights, including with tenant insurance.

While on the topic of tenant insurance, you should also discuss, what other types of insurance you should consider. Maybe you can get a further insurance premium discount if you combine all your insurance needs to one single insurance provider. Speak to your chosen tenant insurance broker to see if such a package is available to you in your particular area and your situation. It pays to ask questions.

Check out our page on insurance scams, it makes for some interesting discussion.






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