How to Get Renters House Insurance in Canada
When you’re renting a house in Canada, you’ll want to make sure your personal belongings are protected. While your landlord’s insurance generally covers the building itself, it doesn’t cover the contents of your rental, or your liability should someone get hurt on the premises. That’s where renters house insurance comes in. APOLLO offers comprehensive tenant insurance policies starting at just $11/month, giving Canadians affordable peace of mind. In this blog post, we’ll outline the steps you need to take to secure your renters house insurance in Canada.
Need Tenant Insurance?
What Renters House Insurance Covers
Typical coverage under a renters house insurance policy includes:
Personal property protection: Covers the cost of your belongings if they are damaged, destroyed, or stolen.
Personal liability coverage: Protects you if someone gets injured on your property and seeks compensation.
Additional living expenses: Pays for temporary living arrangements if your rental home becomes inhabitable due to an insured peril.
Step-by-Step Guide to Getting Renters House Insurance in Canada
Now that you understand the importance of protecting your belongings, follow these simple steps to obtain renters house insurance in Canada:
1. Take Inventory of Your Belongings
The first step is to make a detailed inventory of your personal items, including furniture, electronics, clothing, and valuable items like jewelry and artwork. Take photos and note down purchase dates, serial numbers, and approximate costs for each item. This information will help you determine the right amount of coverage and simplify the claims process.
2. Determine Your Coverage Needs
Based on your inventory, determine the coverage level that suits your needs. Keep in mind that certain high-value items, like jewelry or expensive electronics, may require additional coverage, known as a “floater” or “endorsement.” Also, decide if you require additional liability coverage to protect yourself financially in case someone gets injured on your property.
APOLLO offers tenant insurance starting at just $11/month.
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
3. Shop Around and Compare Quotes
Contact multiple insurance providers and request quotes for renters house insurance. Research their reputation and customer reviews to ensure they have a solid track record. When comparing quotes, consider factors like coverage inclusions, limits, deductibles, and premiums. Remember that the cheapest option might not always be the most suitable.
4. Choose a Deductible
The deductible is the amount you’ll pay out-of-pocket before your insurance coverage kicks in. It’s essential to select an affordable deductible, as it can affect the cost of your premium. Generally, a higher deductible means a lower monthly premium and vice versa.
5. Purchase Your Policy
Once you have chosen the insurance company and policy that suits your needs, complete the required documentation, and finalize the payment process. Review the policy’s terms and conditions carefully, ensuring everything discussed with the provider is included.
6. Review Your Policy Annually
Regularly review your renters house insurance policy to ensure it stays up-to-date with your evolving needs. Go through your inventory and update it whenever you acquire new assets. Adjust your coverage accordingly to keep your belongings protected.
APOLLO offers effortless tenant insurance that’s designed to protect renters and their belongings. Get a free quote in less than a minute on our online platform and we’ll send your unique policy documents right to your inbox.
APOLLO Has You Covered
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Originally published June 29, 2023, updated August 25, 2023
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