Tenant Insurance, Windsor

If you need renter’s or tenant Insurance in Windsor we can help. We can provide you with coverage for all your personal items at a great rate. Renter’s insurance or tenant insurance protects you against common risks such as theft, fire, loss and much more

Whether you live in an apartment building, rented condo, or single family home or row home, if you rent, tenant’s insurance costs very little and is worth it for your peace of mind.

Do I need Tenant Insurance?

Not all landlord/tenant situations require the renter to have renter’s insurance. However, it is always in your best interst. Here’s why:

Your Landlord’s insurance doesn’t cover you.

Landlords do have insurance, but it doesn’t protect you. The insurance held by a landlord only protects the building itself, and also protects them from liability in the event that someone is injured while on the property. The contents of your unit and your personal possessions are not covered under your landlord’s insurance.

Renter’s insurance isn’t just about owning expensive stuff.

You may look around at the contents of your unit and think that your personal belongings aren’t worth insuring. Even if don’t own expensive items like computers, electronics, or fancy art, tenant’s insurance is still important. If you start adding up the cost of replacing everything you own – clothes, furniture, kitchen ware, books – it all adds up very quickly. Renter’s insurance also protects you in the event that someone is injured while visiting you, and may help with living expenses if you have to vacate the premises due to an emergency situation.

What Tenant Insurance Covers

Contents

Renter’s insurance covers the cost of your personal belongings within your rental unit – your clothing, furniture, household goods and anything else you brought into the unit with you. Choose between market value (the actual worth of the item(s) you lost) or replacement value (the cost of buying a new item).

Liability

Even though you don’t own the space you live in, you are still responsible for what happens within that space. If someone comes into your home and is injured, or if their property is damaged while in your home, liability insurance covers any costs incurred.

Additional Living Expenses

Through no fault of your own, you may need to find alternate accommodations. This can include fire, flood, infestation, or a building deemed unsafe for habitation. If you have to be evacuated from your home or apartment complex, tenant insurance may help cover some of your living expenses.

How Much Does Tenant Insurance Cost?

The average cost of tenant insurance in Ontario is approximately $17.50 per month. However, there are a number of factors that can affect how much you pay. Here are a few things you’ll have to take into consideration when shopping for insurance.

1. Size of Your Deductible – the larger your deductible, the lower your monthly premium will be.
2. Where You Live – If you live in a major city, your insurance premiums will be higher than if you live in a small town. Rates can also be affected by the neighborhood you live in. If you live in a high crime area, your insurance premiums may reflect that.
3. The Worth of Your Personal Items – if you own a lot of fancy or expensive items, you may need greater coverage. Special contents insurance coverage rare collections, fancy art, or specialized electronic equipment that may be above and beyond what is considered “normal” contents.
4. Condition/Age of the Property – Your landlord holds insurance to cover the building or property, however, older buildings or homes may have a greater risk of claims resulting in higher insurance premiums for renters.
5. Your Personal Finances – just like any other financial arrangement, your premium may be subject to your credit rating. If you have poor credit or have a history of missing payments, you may be considered a risk making your premiums higher.