For many of us, renting brings a world of excitement into our lives. It’s our first taste of freedom and an opportunity to call somewhere home without having the stresses of actually owning a house.
Whether you’re moving into a new apartment in a new city or a condo with your significant other, renting the perfect pad is an exciting experience. Once you’ve secured your space, you’ll want to purchase tenant insurance1.
What is tenant insurance?
There are a number of ways you can benefit from having it, but simply put, tenant's insurance is the best way to protect yourself and your belongings.
Should an unexpected event, such as a fire or other covered peril occur, you’ll have the ease of mind knowing that your valuables are covered. If you become displaced from your home, additional living expenses including accommodation may also be covered if you have to move out while repairs are made.
As a tenant, you are responsible for any havoc you inadvertently wreak. If your overflowing bathtub or dishwasher seeps into the apartment below you, destroying the ceiling and shorting our your neighbor's new flatscreen TV, you could be facing a hefty repair bill. If something in your unit affects your neighbours, you could be liable. Without insurance, you’ll be paying for damages to their unit and to their belongings.
If You Experience a Flood, Optional Water Coverage Will Take Care of Your Losses.
In heavy rainfall, sewers can back up and flood right into basement suites. That’s what makes optional water coverage2 so smart – it ensures your belongings are protected. Tenant insurance ensures you’re protected from the high costs of repairs.
Tenant's Insurance is a great option for peace of mind. It’s an even smaller price for CAA Members who purchase CAA Property Insurance – you’ll save 10%3. To get a quote, visit caaniagara.ca/insurance, contact an Agent, or call 1-877-222-1717.
1 Property Insurance is underwritten by CAA Insurance Company. Certain conditions, exclusions and underwriting eligibility rules apply.
2 Underwritten by CAA Insurance Company, Claims administered by Mutual Boiler Re.
3 To qualify for the discount you must be a current CAA Member in good standing (CAA Membership dues paid in full by membership expiry date). Eligible CAA Members may qualify to receive a Member Loyalty Discount based on membership tenure and Roadside Assistance usage.