5 reasons to have tenant insurance

October 2nd, 2014 by admin

As many young adults head off to college and university, the Insurance Bureau of Canada (IBC) wants to remind students and their parents of the importance of tenant insurance

"Tenant's insurance is a must. It protects your belongings, provides liability protection and is very affordable," said Ralph Palumbo, Vice-President, Ontario, IBC. He continued: "It's important to expect the unexpected so as college and university students head back to school, IBC encourages students and parents to purchase tenant's insurance."   

Tenant insurance is both easy and affordable. In some cases, you may already be covered by your parent's insurance. Call your family's insurance provider to find out. All you will need to provide is an inventory of your items along with their approximate value. Coverage is also very affordable.

Secondly, it offers a wide-range of protection. It will cover your actual belongings, along with your possessions from additional losses in the event of a fire. It also protects you if you accidentally damage someone else's property, as it helps pay for the damages. In short, you cannot afford to ignore tenant insurance. "If something did occur, it would be financially straining to replace all of your belongings, cover costs of damages to the apartment and cover potential lawsuit fees," the IBC emphasizes.

For the full list of reasons why university students should have tenant insurance, refer to the IBC list

Fundy Mutual is headquartered in Sussex, New Brunswick and has additional offices in Hampton and Rothesay, New Brunswick. If you are interested in learning more about home and tenant insurance, contact Fundy Mutual. Our top priority is to provide protection to the people in our communities.