The Importance of Tenant's Insurance

Liability claims, hotel fees, and the cost of replacing your belongings in instance of theft or fire are very important items that a tenant’s insurance policy will cover. Many tenants do not realize that their landlord’s insurance policy does not cover their persons from these instances occurring.

The Insurance Bureau of Canada states that about half of Canadian renters do not have proper insurance coverage.

Two examples of liability claims that can drastically impact a tenant’s financial future would be a tenant’s guest accidentally falling down stairs of the rental unit and sustaining injury. The guest can then sue the tenant for their injuries. Another example is a tenant leaving the water running in their unit and flooding strata units below the rental unit. Liability claims can be millions of dollars in some instances.

If the rental unit a tenant is residing in is unable to be occupied for any reason; such as flood or fire, a landlord does not have to pay for the tenant’s out of pocket living expenses while the rental unit is being repaired or renovated. A tenant will be responsible to pay for a hotel etc during this difficult time.

In case of a flood, fire, theft or vandalism; tenant’s insurance will also cover the replacement cost of the tenant’s belongings. A landlord’s insurance policy will not pay for any damage or theft of a tenant’s contents.

Tenant’s insurance is extremely important for a variety of reasons. We urge you to contact your insurance provider today if your tenant’s insurance has expired or you do not have a policy. In Oliver and Osoyoos, British Columbia insurance providers include Westland Insurance and Johnston Meier. An online company that offers same day services, if approved, is

Disclaimer: we are not licensed insurance providers. We recommend you contact a licensed insurance professional for advice regarding any insurance questions or policies.

Featured Testimonial

We love where we are living thanks to Ashley and her team. The condominium complex is private, well kept, and modern.  All rental processes are smoothly taken care of and there is always someone available if there is an issue.  Any repairs are taken care of in a timely manner and they will go the extra mile to help with the little things.  Apartment maintenance is flawless so that we can enjoy blooming roses in the summer and shoveled snow in the winter.  Thank you, Ashley and the team! - M. Allen Osoyoos, BC