Tenant's Insurance - Facts and Fiction
Rentals are on the rise. And a new industry survey indicates that the main concern renters have related to insurance is fire damage. There was a great deal of confusion and misunderstanding about liability and the role of the landlord for personal loss and damage.
Rentals are on the rise. And a new industry survey indicates that the main concern renters have related to insurance is fire damage. There was a great deal of confusion and misunderstanding about liability and the role of the landlord for personal loss and damage.
Landlord's Do Not Insure You
Landlord's insurance does not cover their renters. This is something that is clearly misunderstood by a large segment of renters. Structural damage is normally covered by the landlord, but possessions of the renter are not. And these costs can really add up. Instead of being out of pocket for stolen items, or vandalism, your renters insurance policy can cover your financial losses.
Landlord's insurance does not cover their renters. This is something that is clearly misunderstood by a large segment of renters. Structural damage is normally covered by the landlord, but possessions of the renter are not. And these costs can really add up. Instead of being out of pocket for stolen items, or vandalism, your renters insurance policy can cover your financial losses.
Another important consideration that is often overlooked is that fact that a renter's insurance policy can help reimburse you for the cost to live in a different rental unit if you are temporarily forced out of your rental dwelling due to repairs.
Students Need More Insurance
Just one in three University-age renters carries renter's insurance. In other words, they are putting themselves at risk, both in terms of their possessions and their liability. More than half of all renters have no insurance whatsoever.
Just one in three University-age renters carries renter's insurance. In other words, they are putting themselves at risk, both in terms of their possessions and their liability. More than half of all renters have no insurance whatsoever.
Liability coverage is normally included in most renter's insurance policies. So, if someone is hurt on your premises, you'll have the necessary coverage in the event you are sued for injury or damages. University students may be able to get coverage with a rider to their parents' homeowners' policy. It's clear that University students undervalue the overall cost of their possessions. Just their electronic gear alone can add up to thousands. Even a University student can have property worth a few thousand dollars.
Minimal Cost for Limited Risk
Renter's insurance is usually low because it covers only personal property and liability. There is no coverage needed for the structure. One way to lower your premium is to have a higher deductible.
Renter's insurance is usually low because it covers only personal property and liability. There is no coverage needed for the structure. One way to lower your premium is to have a higher deductible.
Steps To Take When Disaster Strikes
Accidents do happen, so if you find yourself in a situation where you need to replace your goods, there are usually some options you can consider. Sometimes, you may elect for the actual cash value if there is something you don't really want anymore. The other options is to have your items replaced.
Accidents do happen, so if you find yourself in a situation where you need to replace your goods, there are usually some options you can consider. Sometimes, you may elect for the actual cash value if there is something you don't really want anymore. The other options is to have your items replaced.
Get Additional Savings
Most insurers will give you a discount for an approved house alarm. Insurance companies do this because they want to reward customers who are taking preventative steps to protect themselves and their property.
Most insurers will give you a discount for an approved house alarm. Insurance companies do this because they want to reward customers who are taking preventative steps to protect themselves and their property.
Ensure your new policy is in effect before dropping the old one.
Square One Insurance ( http://www.squareoneinsurance.ca/alberta-home-insurance  ) is one of the few Canadian insurance providers specializing in home insurance, offering the only home insurance policy in Canada that can truly be tailored to your individual needs.
Visit us online to learn more about Alberta Tenant Insurance  resources.
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