Compare and purchase the best
tenant insurance rates
in Edmonton.
Provides protection against a lawsuit resulting from damaged property or personal injuries.
Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.
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Edmonton is a fantastic place to lay your roots, regardless of your age, gender or ethnicity. The city of Edmonton is extremely diverse, making an outstanding location for unique cuisine, entertainment and shopping experiences. Speaking of experiences, Edmonton is home to approximately one million residents, which means that you’ll have plenty of chances to meet new, interesting people.
If you’re looking for a rental property, like an apartment or detached home, Edmonton has no shortage of options. However, renters should note that tenant insurance can be rather pricey in Edmonton — unless you team up with a Surex insurance advisor. A quick chat with a Surex insurance advisor can lead to substantial savings on tenant insurance in Edmonton.
Whether you’re looking for your first or umpteenth tenant insurance policy in Edmonton, you should start by getting quotes from the Surex team! At Surex, we work with the most respected insurance carriers in the industry; this gives you access to the cheapest and best tenant insurance Edmonton providers have to offer.
Tenant Insurance in Edmonton - What You Need to Know
A licensed insurance advisor can offer tenant insurance in Edmonton. If you contact the broker channel they can provide you with more than one option, so you can see comparables in price and coverage!
Tenant insurance in Edmonton (also called renters’ insurance in Edmonton) is meant for people who rent the place where they live, whether home, condo, or apartment. It provides coverage against common risks like theft, fire damage, and personal injury that occurs on the property.
A tenant's insurance policy is necessary because a landlord’s home insurance policy won’t cover these perils on behalf of the renter.
No, tenant insurance is not mandatory at the provincial level. However, many property managers in Edmonton won’t lease their units without tenant insurance coverage in place.
Tenant insurance generally covers three main things:
Contents
If your belongings are damaged or stolen while in your rental property, tenant insurance in Edmonton will help cover the cost of replacement or repair. A tenant insurance policy will cover your belongings.
This is among the most important aspects of tenant insurance since most people don’t have the money to replace thousands of dollars in lost items out-of-pocket. You may need tenant insurance to protect your belongings.
Liability Coverage
If an accident on your property causes financial harm to a third party, tenant’s insurance with personal liability coverage can help cover lawsuit and settlement costs.
For example, if a guest slips, falls, and injures themselves on a wet floor in an apartment you’re renting, tenant insurance in Edmonton will shield you from the financial fallout of a potential lawsuit.
Relocation Cost Reimbursement
If the property you’re renting is rendered uninhabitable, tenant insurance will help shoulder the costs of relocating.
For example, if you’re forced to stay at a hotel for a few weeks because your rental apartment flooded, tenant insurance may help with your hotel bill along with the cost of purchasing meals and other additional living expenses.
Tenant insurance in Edmonton typically won’t cover replacement costs above a certain amount for extraordinarily expensive items (i.e. jewelry). To make sure you’re covered for the items that matter most to you, it’s important that you read the policy thoroughly. Your Surex broker can help you find the exact policy in Edmonton that you need.
This depends on where you reside, the value of your total contents and your liability limits. Policies normally start at $300/yr and increase as the content values and liability limits increase.
The cheapest tenant insurance provider depends on how your situation fits into the formula insurance companies create to evaluate policyholders. For example, one insurer might weigh your age more heavily than another. This is why it’s a good idea to compare insurance companies and online insurance quotes with the best insurance broker. The cheapest tenant insurance provider isn’t always evident.
Tenant insurance in Edmonton typically renews automatically each year. You’ll receive new policy documents detailing any changes to your premium and confirming your coverage. Keep in mind that you do have the option to switch policies before your existing one renews.
The best tenant insurance in Edmonton is rated based on the type of unit you rent, number of tenants in the unit, value of your contents, physical location of the unit, prior tenant or home claims in the past under your name.
No, you don’t need home insurance while renting a home in Edmonton. If you rent the unit you live in you only require tenant insurance which is often more affordable than home insurance. You want to be properly insured, and tenant insurance will do that for renters.
You can contact your assigned insurance broker/advisor or contact the insurance company directly. Make sure you have your policy number and details of the claim prepared when you call.
Many policies hover around the $20 to $30 range. Since there’s no minimum coverage requirement for tenant insurance in Edmonton, you can get insurance online at a lower rate by purchasing only the coverage you need.
The law does permit landlords to include tenant insurance coverage as a lease requirement. Many landlords in Edmonton do so as a tenant’s policy serves to reduce their overall risk.
You’ll need to provide basic information about yourself and the property you’re renting in Edmonton, including:
- The address
- Your belongings’ cumulative value
- Who else will be occupying the rental property
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What is typically covered under tenant insurance?
- Repair or Replacement of Contents
Tenant insurance typically covers repairing or replacing a renter’s possessions in the event of theft or damage. - Relocation Costs
If a rental property is rendered uninhabitable, tenant insurance can cover the costs of relocating, food etc. - Liability Coverage
Protects a tenant financially if someone else faces damages in relation to the rental property.
What is the difference between tenant & renter’s insurance?
There is no difference. These policies provide coverage against damage to or loss of your belongings while you are inhabiting a rented dwelling.
Does my landlord’s insurance policy cover me?
Your landlord’s insurance policy will not cover your contents or belongings. It only protects their items as the policyholder. If you want coverage for your belongings, you’ll need tenant insurance.
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