Tenant Insurance in Kitchener

Tenants in Kitchener can depend on our team here at Leibel Insurance for all of their insurance needs. Need more information? We’ve created the following guide to tell you everything you need to know:

What Is Tenant Insurance?

Tenant insurance provides coverage for anyone renting their living space. This can include an apartment, condo or house, and this policy is in place to protect tenants in case of unforeseen and unfortunate situations that may arise. Tenant insurance will help cover the costs of your belongings if they are stolen or damaged after an event; in short, it provides asset protection and peace of mind for the renter when covered by a tenant insurance policy.

The landlord is responsible for the property itself and will have property insurance covering physical damage caused to the structure of their dwelling. However, this kind of insurance policy does not cover the tenant’s possessions inside the rental unit, and it is the tenant’s responsibility to obtain tenant insurance to protect their belongings. 

What Does Tenant Insurance Cover?

Tenant insurance will help cover the costs of your belongings if they are stolen or damaged after a peril covered by your tenant insurance policy. It can cover the costs of items like clothing, jewelry and electronics that were damaged inside the property you are renting. Additionally, tenant insurance will cover the costs of temporary living expenses if your unit is deemed unsafe after an incident. If you need to stay in a hotel, for example, while the rental unit is being repaired, tenant insurance will help cover such costs. 

Should Renters Have Renter’s Insurance?

It is not mandatory for renters to have renter’s insurance; however, it is highly recommended because of its comprehensive protection. While not required by law, many landlords will require tenants to obtain tenant insurance before they move into the rental unit. This insurance policy will protect your personal property if it becomes damaged during your time in the rental property. You won’t have to pay out of pocket, which would be expensive and frustrating.

What Is Not Covered By Renter’s Insurance?

Renter’s insurance will not cover belongings damaged by earthquakes, sinkholes, natural disasters and flooding. Always read your policy to ensure you are aware of the policy exclusions. Our team will take the time to discuss exclusions because it’s essential that our clients are well-informed. 

How Much Is Tenant/Renter’s Insurance In Kitchener?

This will depend on the amount of coverage you need, and we will discuss your policy in great detail to ensure you are aware of the costs. The area of Kitchener you live in will also impact your rate, as will the value of your possessions and the deductible amount.

Are you interested in receiving a quote? Our process is quick and easy, and you can contact our Brokers anytime to purchase tenant insurance in Kitchener: call 1-866-484-8880 today!

Get a Kitchener Tenant Insurance Quote Today