Tenant insurance

Tenant insurance covers the policyholder’s belongings and personal actions/liability within their rented property. Tenant insurance will provide coverage in the case your belongings are damaged or lost from common risks such as theft or fire. You will also be covered from legal liability for accidental injuries to someone who’s visiting you at your apartment or for accidental injuries or damage caused by your actions anywhere in the world. Tenant insurance can also cover living expenses should your home be rendered uninhabitable.   

Students are subject to the same risks as all renters. Valuables such as TVs, laptops, gaming systems or sound systems are expensive to replace and would benefit from tenant insurance coverage.   

As tenant insurance covers a predetermined value of belongings, it is possible to share tenant insurance between roommates to save money. However, things can get complicated when it comes to filing a claim, coverage limits and insurance records. It is best to speak to a licenced CAA Insurance Agent to determine what is best for your needs. 

Your tenant insurance rates are affected by several factors, including the location of your home, the type of home security system you have and the amount and value of the items that are being insured.

In the event of a covered loss, your insurer will determine the value of the items in their current state (depreciation included) and pay out that amount.

It provides financial support for living expenses should your home be uninhabitable following a covered incident.

In the event of damage or loss to your covered possessions, your insurer will cover the cost of repairing them to their original state or replacing them entirely.

It provides coverage for the loss or damage of your belongings caused by any incident unless stated in the policy.