Tenant Insurance

[kamyar]

Hi there,

1. My landlord asked me to get a "tenant insurance" before signing the contract. Do have any idea about the price range for a 1 bedroom apartment? I know many factors count but I just want a range e.g. near 100CAD/year or 1000CAD/year?

2. What does this type of insurance cover?

3. What are the major insurance companies in Alberta or in general in Canada?

Best,
K

 

[steaky]

I don't know about Alberta but you can contact this broker based in Vancouver, BC: www.biis.ca

 

[hassanbukhari]

It cost me around $250 a year from statefarm. I will suggest to contact Aviva they are the cheapest. It cover all your household Stuf and injuries in house. Good to have it. If you take car insurance from same company then you will get some good discount.

 

[AllisonVSC]

I'm in Toronto area. I got ours from Allstate where I have car insurance, so by adding this policy I got a discount. I pay $165 or about per year and live in a 3 bedroom apartment. The policy covers your personal belongings should something, like a fire, flood, roof collapse, etc destroy your apartment. There are some items that require a rider to the policy (basically an add-on for an additional fee); expensive jewelry would be an example something that requires a rider.

I think the tenant's policy might also cover damage to another resident's personal property if something happened that was deemed your fault (i.e. you let the bathtub overfull and water damaged the apartment below yours), but I'm not 100% sure on that.