Why You Need Tenant Insurance
5 Reasons Why You Should Have Tenant’s Insurance
1. Your landlord may request it.
Your landlord’s insurance policy may require you to have insurance in order to become a tenant. If this is the case, securing tenant insurance is mandatory if you wish to rent the property.
2. It covers damages and losses to personal property.
Tenant insurance covers damages or losses that result from accidents within your rental. For example, if a fire ignites in your unit and causes damage to your rental or surrounding properties, your tenant insurance will cover the costs associated with repairs and losses that resulted from the incident.
3. Liability insurance.
If an injury occurs on your property, there’s a chance you may be liable. For example, if someone falls on your walkway, you may be required to cover the medical expenses associated with the injury. This is where your tenant insurance comes in handy.
4. Emergency living expenses.
Tenant insurance also covers costs associated with natural disasters. For example, if there is a floor in your apartment and the extent of the damage requires you to move out, your tenant insurance may cover living expenses such hotel accommodations.
5. It’s affordable.
Premiums can start as low as $29/month for the minimum $30,000 coverage.
For these reasons at Westhaven Property Management strongly encourages it’s tenants to secure insurance. The protection and peace of mind are worth it.
Live The Westhaven Way
Apply to Westhaven Toronto Rentals today!