Are you renting an apartment, house, condo, or any other property that you do not own? If so, you need renter’s insurance. Also known as tenant insurance or contents insurance, this type of coverage protects you and your possessions from potential catastrophe. Many Canadian tenants are vulnerable by not obtaining renter’s insurance.
Winter looks to be over, which hopefully means you have successfully navigated another cold season without burst pipes and flooding. Remember: most home insurance policies do not cover overland flooding.
Do I need Renter’s Insurance? Most lease or rental agreements have a provision that advises the Tenant to carry Renter’s Insurance to protect the tenant from any loss or damage. But statistics show that less than half of renters in Canada (42%) have Renters Insurance.