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Tenant Insurance Alberta

Tenant's Insurance Ensures Your Possessions and Contents in your rental are Protected with the Coverage You Deserve. Get Your Free Alberta Tenants Insurance Quote from Leibel Insurance.
  • Coverage Against Liability Claims
  • Protect Yourself from Fire, Water Damage, Theft, Vandalism and More
  • Secure All of Your Prized Possessions with Replacement Cost Coverage

Call (866) 484-8880 now to speak directly with an Insurance Specialist about Tenant Insurance Alberta or complete a no-pressure no-obligation quote request form.

What is Tenant Insurance?

Tenant insurance, also known as renters insurance is a form of insurance that protects you and your belongings financially from unexpected events. Renters insurance is not the same as home insurance. Renting a home you do not own exempts you and your belongings from protection under your landlord’s insurance policies.

Do You Need Tenant Insurance in Alberta?

July 21, 2014 a condo fire in Edmonton Alberta forced nearly 400 people from their homes. Many of these people were left without options as to living arrangements, and they lost everything they had; this is because they did not have a renters Insurance Policy. Thinking your belongings are insured by your landlord is a tenants biggest and most common mistake.

Alberta Tenant and Renters Insurance

 

What’s Covered In Your Tenant Insurance Coverage Policy?

What is Tenant Insurance?

Renter’s insurance is a form of insurance that protects you and your belongings financially from unexpected events. Renter’s insurance is not the same as home insurance. Renting a home you do not own exempts you and your belongings from protection under your landlord’s insurance policies.

Do You Need Tenant Insurance in Alberta?

July 21, 2014 a condo fire in Edmonton Alberta forced nearly 400 people from their homes. Many of these people were left without options as to living arrangements, and they lost everything they had; this is because they did not have a renters Insurance Policy. Thinking your belongings are insured by your landlord is a tenants biggest and most common mistake.

 

What’s Covered In Your Tenant Insurance Policy?

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Personal Property

Renters insurance safeguards your personal property in your building or apartment, ensuring you’re covered if your belongings suffer damage or theft while within your rented unit or stored in a rental locker/storage within your building. This coverage offers peace of mind, reimbursing you for the cost of replacing your items up to the policy’s limit. Whether it’s electronics, furniture, clothing, or other valuables, renters insurance provides vital protection, ensuring you’re not left financially vulnerable in unexpected situations.

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Personal Liability Coverage

If someone is injured on your rental property or if you accidentally damage the property itself, renters insurance has you covered. Additionally, if you’re responsible for damages to another person’s property, whether it’s in your rental unit or elsewhere, this coverage extends to help mitigate those costs. 

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Additional Living Expenses

Renters Insurance provides living expenses if your rental property becomes uninhabitable. In the unfortunate event of a fire, natural disaster, or other covered loss, where your rental becomes temporarily unusable, renters insurance can help cover the cost of alternative living arrangements such as hotel stays, temporary rentals, or even meals if your usual kitchen facilities are unavailable. 

Some other important coverage’s to consider when purchasing a policy are:

  • World wide liability – This covers you the tenant anywhere in the world for unintentional negligent acts. Per say you’re in an airport, and your bag falls over from beside you, and someone trips and breaks their ankle. If you are sued by the injured third party, your Renters Insurance policy will respond.
  • Additional living expenses – This will help cover additional costs incurred by you, due to an insured peril. If you can’t live in your rental for an estimated amount of time, this coverage will cover a hotel, or even moving expenses to a new rental if yours won’t be repaired in a timely manner.

Tenant Insurance Questions

Is tenant insurance mandatory in Alberta?

Tenants insurance is not legally required by law in Alberta. However, many landlords may require tenants to have insurance as part of the rental agreement. Even if it’s not mandatory, having renters insurance is highly recommended to protect your personal belongings and liability in case of any accidents that occur in your rental home.

What Doesn’t Tenants Insurance Cover?

Renters insurance will likely not cover costs associated with bed bugs or property damage stemming from some natural disasters like earthquakes or pests. Any intentional actions are not covered. For example, if you intentionally burn your house or flood your apartment, your claim will also likely be denied.

How Much Does Renters Insurance Cost?

The cost in Alberta for renters insurance is just over $200 a year for most people. For approximately $17 to $20 a month, this is a small price to pay when you consider the extremely expensive alternatives. Your exact price will depend on a variety of factors such as content limit, location, and specific risks that will factor into the cost.

Who Does My Renters Insurance policy Cover?

Each renters insurance policy typically only covers the named insured and the immediate family that reside with them at that location. Coverage-wise, it is best if you and whoever you rent alongside (roommates) each have separate policies.

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Is Pet Damage Covered By Renters Insurance?

In short, yes. In most renters policies, property damage done by your dog will be covered by a renters insurance policy. In fact, your policy may even cover liability claims in the event your dog bites someone on the property. Of course, there are a few cases where your pet will not be covered. Most tenants insurance policies do exclude certain dog breeds like Rottweilers and Pitbulls.

Can I get tenants insurance if I share a rental property with roommates?

Yes, you can get tenants insurance if you share a rental property with roommates. However, you should notify your insurer that you live with roommates and the number of roommates you live with. Each of your roommates should also consider getting their own renters insurance policy to ensure that they have coverage for their personal belongings and liabilities.  

Do I need to cancel my tenants insurance policy if I move to a new rental home?

As long as you remain inside the province, you can simply update your current insurance policy with a new address and new information regarding your new rental.

Student Pricing Available!

Leibel Insurance is pleased to offer student policies and student pricing. This includes special rates for students attending post-secondary schools across Alberta including; MacEwan University, University of Alberta, University of Calgary, NAIT, SAIT, Bow Valley College, and more. Speak to one of our experienced brokers today about student tenant insurance.

Factors that affect your renters insurance rate

Renters who want to buy renter’s insurance can turn to Leibel Insurance because our team is always ready to help. We will provide you with the right coverage and will make sure your policy protects both your personal property as well as provide you with liability coverage.

Landlords generally insure the building or  apartment complex, but their policy will not provide tenants with full protection, which is why so many renters choose to purchase renter’s insurance. If you are wondering about rates, the answer will vary from one renter to another, as we will look at a number of different factors when determining your premium. Everything from the location of the building to your personal insurance requirements will be considered, so you need to be aware of this information.

The amount of insurance you require will affect your rate as the more insurance you need; the higher your premiums will be. It is recommended that you take a personal inventory of your personal belongings to determine how much insurance you need. This will allow us to provide you with an accurate rate. Not sure where to start? It is always easiest to start with the higher-valued items in your home (electronics, furniture, clothing, etc.). Your desired deductible will also affect your premium. The more you are able to cover before your insurance kicks in, the lower your premium will be. This, too, is something we will discuss in more detail whenever you give us a call.

Where you live is another factor that affects tenants’ insurance. Living in close proximity to bodies of water, high-crime neighbourhoods, and the distance from the home to the closest fire department will all make a difference when it comes to your rate. Apartments are generally less expensive to insure when compared to full houses, and the construction and age of the house can influence premium as well. The structure and upkeep of the building will play a role in your premium, and we will look into recent upgrades when providing you with a rate. Recent updates to the roof, pipes, and heating system will result in cheaper rates as they are less likely to fail.

We specialize in providing high-quality renter’s insurance, so if you have any questions or are interested in more information, contact us today, and we would be happy to set up your very own tenant’s insurance for you!

 

Tenant Insurance Discounts Available

Some other important coverage’s to consider when purchasing a policy are:

  • World wide liability – This covers you the tenant anywhere in the world for unintentional negligent acts. Per say you’re in an airport, and your bag falls over from beside you, and someone trips and breaks their ankle. If you are sued by the injured third party, your Renters Insurance policy will respond.
  • Additional living expenses – This will help cover additional costs incurred by you, due to an insured peril. If you can’t live in your rental for an estimated amount of time, this coverage will cover a hotel, or even moving expenses to a new rental if yours won’t be repaired in a timely manner.

Tenants Insurance Questions

Is tenant insurance mandatory in Alberta?

Tenant insurance is not legally required by law in Alberta. However, many landlords may require tenants to have insurance as part of the lease agreement. Even if it’s not mandatory, having renters insurance is highly recommended to protect your personal belongings and liability in case of any accidents that occur in your rental home.

What Doesn’t Renters Insurance Cover?

Renters insurance will likely not cover costs associated with bed bugs or property damage stemming from some natural disasters like earthquakes or pests. Any intentional actions are not covered. For example, if you intentionally burn your house or flood your apartment, your claim will also likely be denied.

How Much Does Renters Insurance Cost?

The cost in Alberta for renters insurance is just over $200 a year for most people. For approximately $17 to $20 a month, this is a small price to pay when you consider the extremely expensive alternatives. Your exact price will depend on a variety of factors such as content limit, location, and specific risks that will factor into the cost.

Who Does My Insurance Cover?

Each renter’s insurance policy typically only covers the named insured and the immediate family that reside with them at that location. Coverage-wise, it is best if you and whoever you rent alongside (roommates) each have separate policies.

.

Is Pet Damage Covered By Renter’s Insurance?

In short, yes. In most renter policies, property damage done by your dog will be covered by a renters insurance policy. In fact, your policy may even cover liability claims in the event your dog bites someone on the property. Of course, there are a few cases where your pet will not be covered. Most renters insurance policies do exclude certain dog breeds like Rottweilers and Pitbulls.

Can I get tenant insurance if I share a rental property with roommates?

Yes, you can get renters insurance if you share a rental property with roommates. However, you should notify your insurer that you live with roommates and the number of roommates you live with. Each of your roommates should also consider getting their own tenants insurance policy to ensure that they have coverage for their personal belongings and liabilities.  

Do I need to cancel my tenant insurance policy if I move to a new rental home?

As long as you remain inside the province, you can simply update your current insurance policy with a new address and new information regarding your new rental.

Student Pricing Available!

Leibel Insurance is pleased to offer student policies and student pricing. This includes special rates for students attending post-secondary schools across Alberta including; MacEwan University, University of Alberta, University of Calgary, NAIT, SAIT, Bow Valley College, and more. Speak to one of our experienced brokers today about student tenant insurance.

Factors that affect your renter’s insurance rate

Renters who want to buy renter’s insurance can turn to Leibel Insurance because our team is always ready to help. We will provide you with the right coverage and will make sure your policy protects both your personal property as well as provide you with liability coverage.

Landlords generally insure the building or home, but their policy will not provide tenants with full protection, which is why so many renters choose to purchase renter’s insurance. If you are wondering about rates, the answer will vary from one renter to another, as we will look at a number of different factors when determining your premium. Everything from the location of the building to your personal insurance requirements will be considered, so you need to be aware of this information.

The amount of insurance you require will affect your rate as the more insurance you need; the higher your premium will be. It is recommended that you take a personal inventory of your personal belongings to determine how much insurance you need. This will allow us to provide you with an accurate rate. Not sure where to start? It is always easiest to start with the higher-valued items in your home (electronics, furniture, clothing, etc.). Your desired deductible will also affect your premium. The more you are able to cover before your insurance kicks in, the lower your premium will be. This, too, is something we will discuss in more detail whenever you give us a call.

Where you live is another factor that affects tenants’ insurance. Living in close proximity to bodies of water, high-crime neighbourhoods, and the distance from the home to the closest fire department will all make a difference when it comes to your rate. Apartments are generally less expensive to insure when compared to full houses, and the construction and age of the house can influence premium as well. The structure and upkeep of the building will play a role in your premium, and we will look into recent upgrades when providing you with a rate. Recent updates to the roof, pipes, and heating system will result in cheaper rates as they are less likely to fail.

We specialize in providing high-quality renter’s insurance, so if you have any questions or are interested in more information, contact us today, and we would be happy to set up your very own tenant’s insurance for you!

 

Tenant Insurance Discounts Available

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Bundle Insurance Discounts

If you have multiple insurance policies with the same insurer, for example, renters insurance and auto insurance, you may qualify for a discount on your premiums by bundling them together. Talk with your broker regarding bundling insurance options.

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Safety Features Discount

Installing safety features in your rental unit, such as smoke detectors, fire extinguishers, deadbolts, or a security system, may make you eligible for a discount on your renters insurance premium.

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Annual Payments

Paying your renters insurance premium annually instead of monthly may result in a discount with some insurers as they have trust you’ll stick around for at least a year and avoid changing interest on the monthly payment.

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Increase Deductible

Your deductible is how much you pay out of pocket before your insurer starts helping you in the event of a claim. Increasing your deductible may grant you a discount on your premium.

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Occupational Discounts

Some insurance companies can offer special discounts for certain professionals or associations. 

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Maintain a Good Credit Score

Some insurance companies will offer insurance discounts to clients who have strong credit scores.

Get a Renters Insurance Quote Today!

Don’t wait till it’s too late, contact Leibel Insurance Group today, and let one of our educated, and experienced insurance brokers take care of you.

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