Filing cabinet for renters insurance documents

Why do I need Renter’s Insurance?

Submitted by Fraser at Lyle Insurance: lyleinsurance.ca

Renter’s insurance, tenant insurance, content insurance, whatever term you use, insuring yourself and your contents from a major financial loss is very important.

 

The evening news is regularly filled with reports of apartment fires that force dozens of people into the street with little else but the clothes they‘re wearing. They are often left to rely on community services or the goodwill of others to try to get their lives back together. I am amazed at the number of people who don’t understand the affordability and availability of insurance that would cover most, if not all of their losses.

The loss of your or your family’s worldly possessions is a major financial setback for most people. Often the value of a person’s contents is undervalued. Trying to put together a basic wardrobe could cost upwards a $1,000. Don’t forget your furnishings, food, personal items and other incidentals on top of that. Rental insurance not only includes contents. Additional living expenses that are incurred due to a loss are also included. These expenses are the normal costs of living elsewhere while your residence is being repaired. Additionally, legal liability coverage is included to protect you against any lawsuits brought against you for which you are legally liable. This applies to you on a worldwide basis.

Cost of Renter’s Insurance

The cost of insurance can be as low as $1 per day and often can be put into effect on the same day an application is made.

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