Affordable Tenant Insurance: A Must-Have from Promutuel Insurance
According to data from the Insurance Bureau of Canada (IBC), 37% of Québec tenants do not have home insurance. Yet, even if you live in an apartment or a rented condo, this insurance is important to protect your personal belongings, your civil liability in case of damage to others and more. Note that, with Promutuel Insurance, you can get tenant insurance starting as low as $15.95 per month.
Are you one of the uninsured tenants in the Province of Québec? Comparing quotes to find the best tenant insurance at the best price? Turn to Promutuel Insurance and discover how this affordable protection can give you peace of mind and help you save in the event of a loss.
Why take out home insurance when you are a tenant?
Unlike auto insurance, tenant home insurance is not legally required in the Province of Québec. However, some landlords require it in the lease — and for good reason! Contrary to popular belief, the landlord’s building insurance does not cover the tenant’s personal belongings or civil liability in the event of a loss.
Fire, theft, vandalism and certain types of water damage are typically covered by tenant insurance policies. In such unfortunate events, without insurance, you’d be solely responsible for the costs of repairing or replacing your personal belongings or for temporary relocation. But this coverage goes far beyond that! Read on to learn more about what’s included.
What are the risks if I don’t have tenant insurance?
Imagine a fire breaks out in your building. You have to leave your now-uninhabitable home, with your clothes, furniture, appliances and laptop severely damaged by smoke. Suddenly, you’re without a home, without compensation to replace your damaged belongings and without coverage for your temporary housing costs during the repairs. Without insurance, those expenses fall on you. The same applies if your apartment is vandalized or if you're a victim of theft.
And that's not all! If you accidentally cause bodily or material damage to others — for example, if your bathtub overflows and leaks into the downstairs unit — you could be held liable. The same goes if someone gets injured in your apartment. The cost of your legal defense and any compensation you may be required to pay, if you are held liable, can have serious financial consequences.
In short, with tenant insurance — even at a low price — you don’t have to fear these stressful situations becoming reality, subject to applicable coverage, conditions, limitations and exclusions.
Home insurance coverage for tenants
So, in concrete terms, what is covered by tenant insurance? To answer this question, here is the type of coverage that is provided with most tenant insurance policies:
- Personal property coverage
Whether it’s your clothes, furniture, electronics or even your bike (yes, your bike is covered too!), your belongings can be protected against damage from fire, theft, vandalism and certain types of water damage. Less than a dollar a day to cover thousands of dollars’ worth of belongings. That’s a hard offer to refuse.
- Civil liability insurance
You knock over a lit candle and start a fire. Your washing machine overflows and damages the ceiling below. These situations can be costly. Civil liability insurance protects you if you unintentionally cause damage to others or their property.
- Your relocation costs
If a loss forces you to temporarily leave your apartment, tenant insurance can reimburse your relocation expenses. As long as the incident is covered, tenant insurance will reimburse the relocation costs, until you can return to your home or find a new place.
Subject to the coverage, conditions, limitations and exclusions of your policy.
In addition to these guarantees, depending on your situation, you can add coverage options to your policy, such as coverage for losses not included in standard tenant insurance. This includes damage from earthquakes or certain types of water infiltration.
Tenant insurance that fits your lifestyle... and your budget!
At Promutuel Insurance, we understand that every dollar counts. That’s why we offer tenant insurance at competitive rates. You can choose the level of coverage that suits your situation and the belongings you want to protect. Whether you're a student, a young professional or a family renting your home, there’s an option for you.
Finally, we believe peace of mind should be affordable for everyone — not a luxury. With tenant insurance plans starting at just $15.95 per month, we help you sleep soundly without breaking the bank.
Ready to protect your belongings, furniture and civil liability with us? Contact one of our damage insurance representatives or visit our tenant insurance page to get a quote in just a few clicks.
Want to learn more about your insurance and tenant life? Visit our blog for practical tips, helpful articles and much more!
