Why buy tenant's insurance?


If you answer no to any the following questions, you may want to consider buying tenant's insurance:

  • If I lost everything in my apartment or even only half, would I be able to afford to replace all of these possessions?
  • If I were to inadvertently cause a fire in my apartment, which then caused damage to my neighbour's apartment or the building itself, could I pay for those damages?
  • If damage is caused to my belongings due to a peril such as fire or water caused by another party, would I be able to afford to cover the loss of my damaged property?

These situations are unfortunately very real possibilities. One of the best ways to protect yourself from such financial disaster is to protect your belongings and yourself with Tenants insurance.

The Residential Tenancies Branch published a very informative article on the benefits of having Tenants Insurance.

The article highlights some important facts that need to be considered when deciding on the insurance you will require.

  • Tenants need to know that the landlord's insurance does NOT cover your personal property, such as furniture, if they are lost in a fire or by some kind of vandalism
  • Tenants must pay for damage they might accidentally cause to any part of the landlord's property
  • Tenants are financially responsible for any damage they might cause to the personal belongings of other tenants within the building

Tenants insurance not only provides coverage for your personal contents. but it also gives you Liability coverage if, in the event you were to accidentally cause damage to another's property, because let's face it - accidents do happen.

Rancho Insurance is an independent insurance broker that can offer you affordable insurance coverage based on your own personal requirements.

Please contact our office at 204-253-2829. Our friendly and knowledgeable staff would be happy to answer any of your questions and offer you a competitive quote.

Why buy condominium unit owners insurance?

home-familyDid you know that your Condominium Corporation is not solely responsible for the insurance of your unit? Did you know that you could be assessed a portion for any loss to common areas?

Condominium Unit owners are responsible for insuring:

  • Personal property and belongings
  • Betterments & Improvements
    • All betterments and improvements since the original date of construction regardless of the number of times ownership of unit has changed hands
  • Loss Assessment
    • Provides coverage for unit owners in the event they are assessed for a portion of a loss to common areas
  • Unit Additional Protection
    • Provides coverage in the event the condominium corporations master policy has inadequate limits or policy has lapsed
  • Personal Liability
    • "slip and fall" coverage

By purchasing a Condominium Unit Owners insurance policy you will be protecting yourself and your investment.

Rancho Insurance Brokerage offers insurance from several different insurance companies at very competitive rates. Please feel free to contact us for a free no obligation quote.