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Home & Tenant Insurance
What's covered, what's not, and why every renter needs this.
🏠 If you rent, tenant insurance is the best $20-$40/month you'll ever spend.
Your landlord's insurance covers the building — not your stuff. If there's a fire, flood, or break-in, you're on your own without tenant insurance.
Tenant Insurance: What It Covers
- ✅Your belongings: Furniture, electronics, clothing, kitchen items — if they're damaged or stolen
- ✅Liability: If someone gets hurt in your apartment, or you accidentally damage the building
- ✅Additional living expenses: Hotel and food costs if your place becomes unlivable
- ❌Not covered: Floods (usually), earthquakes (usually), your car, or intentional damage
Home Insurance: What It Covers
- ✅Dwelling: The structure of your home (walls, roof, foundation)
- ✅Contents: Everything inside your home
- ✅Liability: If someone is injured on your property
- ✅Detached structures: Garage, shed, fence
- ⚠️May need add-ons: Sewer backup, overland flooding, earthquake coverage
How to Save on Premiums
- ◆Bundle with auto insurance for 10-20% discount
- ◆Increase your deductible ($1,000 instead of $500)
- ◆Install smoke detectors, deadbolts, and a security system
- ◆Ask about loyalty discounts and claims-free discounts
- ◆Shop around every 2-3 years — loyalty doesn't always pay
💡 Do a Home Inventory
Walk through your home and photograph or video everything you own. Store it in the cloud. If you ever need to make a claim, this makes the process 10x easier and ensures you don't forget anything.
🍁 Canadian Pro Tip
Many landlords now require tenant insurance as part of your lease. Even if yours doesn't, get it anyway. For $20-$40/month, you're protecting potentially $30,000-$50,000+ worth of belongings and getting $1-$2 million in liability coverage.