How to Get the Best Tenants Insurance in Calgary

Tenants insurance, also known as renters insurance, is a crucial investment for anyone renting a home or apartment. It provides coverage for personal belongings, liability, and additional living expenses in case of an unfortunate event. In this article, we will discuss the importance of having tenants insurance in Calgary and provide tips on how to find the best policy for your needs.

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Why You Need Tenants Insurance in Calgary

There are several reasons why tenants insurance is essential for renters in Calgary:

• Protection of personal belongings: Tenants insurance covers your personal belongings in case of theft, fire, or damage due to certain weather events.

• Liability coverage: If someone gets injured in your rented property, or if you accidentally cause damage to someone else’s property, liability coverage can protect you from financial loss.

• Additional living expenses coverage: If your rental property becomes uninhabitable due to a covered loss, tenants insurance can help cover the cost of temporary housing and additional living expenses.

• Peace of mind: Having tenants insurance allows you to enjoy your rental property without worrying about potential financial setbacks caused by unexpected events.

APOLLO offers tenant insurance starting at just $11/month.

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Factors to Consider When Choosing Tenants Insurance

When searching for the best tenants insurance in Calgary, consider the following factors:

1. Coverage Amount

To determine the value of your belongings, create an inventory list with estimated values. This will help you choose the right coverage limit for your personal property.

2. Deductible

A deductible is the amount you pay out of pocket before your insurance kicks in. Higher deductibles usually result in lower premiums, but make sure to choose a deductible amount you can comfortably afford in case of a claim.

3. Liability Coverage

Liability coverage is essential in protecting you from financial loss if you’re found responsible for someone else’s injury or property damage. Experts recommend a minimum of $1 million in liability coverage.

4. Additional Living Expenses

Consider how much coverage you would need for additional living expenses if your rental property becomes uninhabitable. This includes the cost of temporary housing, meals, and other essential expenses.

5. Discounts and Bundling

Ask potential insurance providers about available discounts, such as those for security systems or bundling tenants insurance with other policies like auto insurance.

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Tips for Finding the Best Tenants Insurance in Calgary

Follow these tips to find the best tenants insurance policy in Calgary:

• Shop around and compare quotes: Get quotes from multiple insurance providers to find the best coverage and price for your needs.

• Read reviews and ask for recommendations: Consult online reviews and ask friends or family members for recommendations to find a reputable insurance provider.

• Consider working with an insurance broker: Brokers have access to multiple insurance providers and can help you find the best policy for your needs.

• Look for specialized insurance providers: Some companies specialize in tenants insurance and may offer better coverage options or rates.

• Don’t be afraid to negotiate: If you find a policy you like, try negotiating with the provider for a better rate or additional coverage.

APOLLO offers effortless tenant insurance designed to protect renters and their belongings. Get a free quote in less than an hour and we’ll send your documents straight to your inbox.

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