Tenant Insurance

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Tenant Insurance

As a renter, it’s vital to protect your property.

Tenant insurance protects you from loss or damage to your personal belongings, any valuables, personal injury and the cost of repairs and living expenses if you require temporary move to another location while the repairs are being carried at your building due to an insured loss.

At Bow Valley Insurance, our experienced tenant insurance brokers can help you find the right policy for your situation.

Do I need tenant insurance?

While your landlord’s building insurance policy protects the building and common grounds, it doesn’t cover your personal property and liability. Insuring your personal belongings and personal liability exposures that you face is your responsibility and this protection can be provided under a Tenants Package policy.

Additionally, a tenant insurance policy may be required by your landlord as a condition of the lease. Having the right plan designed for your needs and lifestyle shows that you’re a good tenant — it also ensures comprehensive protection for you.

What does tenant insurance cover?

Tenant insurance splits between two major types of coverages: personal property damage and liability.

Personal property damage covers losses concerning personal belongings and temporary living expenses.

Liability provides coverage for property damage or injury caused to others due to your negligence.

Property Damage

  • “All-Risks” or “Named Perils” coverage: protects you from multiple perils, such as fires, water damage and weather-related damage that extends to your unit.
  • Replacement cost: this coverage is designed to provide financial assistance for replacing insured items without factoring in the cost of depreciation. Compensation at current market prices enables the replacement of your essentials without additional out-of-pocket costs.
  • Living expenses: in case of severe damage that renders your rental unit unliveable and you need to vacate the premises and/or find temporary shelter. Whether it’s a short-term rental or a hotel room, receive financial aid for temporary living expense, eliminating the burden of increased rent payments.

Liability Protection

  • Liability: protects you if you are held responsible for causing damage to property of others or causing injury due to your negligence.

Ask Our Brokers

Our brokers at Bow Valley Insurance understand renting, whether it’s for the short-term as you save up for your own space or a long-term, hassle-free living solution.

  • Tell us about your personal belongings
  • Compare quotes: compare policies for tenant insurance from leading Canadian providers. Our insurance brokers tailor the best plans for your needs and budget. We’ll advise on how you can maximize your savings for your insurance premiums. Whether it’s through security upgrades or multi-policy bundles.
  • Enjoy peace of mind: sit back and relax, knowing that your personal belongings will be protected by tenant insurance, with a reliable claims service if you ever need it.

Contact Bow Valley Insurance

With Bow Valley Insurance, our team of professional brokers can help you ensure that your rental property is equipped with adequate insurance to protect your personal property and liability.

Build a good relationship with your landlord and earn preferred rates for years to come. Ask our insurance brokers about the protection that tenant insurance provides, contact us at 1-800-332-1308 or contact us here.

Coverage is subject to policy wording, terms, conditions, and deductibles. Protection is limited to the perils, coverage, exclusions, and limits shown on the policy.