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

I wish to take a moment to commend Ashley at having done an excellent job as my property manager while I lived in another province.   She helped me personally and professionally with going through an arbitration process and made it seem so simple.  She is the right choice for any landlord as she is very up–to–date with the Act and procedures, and very meticulous with detail.  At the end of the day, it is about trust and for this reason and confidence, I recommend Ashley Lutke-Schipholt at South Okanagan Rentals.

Brenda Froese, CAP

Executive Assistant

Office of the Superintendent and Board of Trustees