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Canadian Tenants Insurance
Hey Ashtray
Registered User regular
Registered User regular
Hey guys, working on getting tenants insurance and I want to make sure I'm not making any first timer mistakes. I've contacted a couple brokers and gotten one quote back so far for 197$ per year, covering up to 25000$ in assets, and a million dollars in liability with a 500$ deductible. I'm currently reading through the 10 page fine print right now just to get an idea of how these people think. Legalese isn't to hard to understand I'm surprised to find out.
Attached to this plan is a floater, my saxophone which is worth a hefty bit and used professionally, having it covered is another 200 per year which to me sounds more than fair.
Coverage for both the apartment - which I rent from my landlady who lives in the same house (3 unit house) - and the saxophone is pretty much inclusive. I could have a guy walk up to me at a bar and beat the shit out of my horn, or I could forget it in the trunk of a cab and it would be covered, that kind of thing.
Are there any pitfalls that I Want to be careful of when looking over the contract? Speaking to the broker has been really helpful, but I never trust a salesman and I don't want to miss anything important.
Also, 400 bucks a year isn't a ton of money, but I also only own ~20 000$ worth of stuff, if that, and a large chunk of that is the sax. I'm half tempted to only get the instrument insured, but I think having tenants insurance is own of those 'adult' things to do because from what I understand if me or my roomate light the house on fire, we're responsible for the costs.
Anyway all thoughts are welcome!
Attached to this plan is a floater, my saxophone which is worth a hefty bit and used professionally, having it covered is another 200 per year which to me sounds more than fair.
Coverage for both the apartment - which I rent from my landlady who lives in the same house (3 unit house) - and the saxophone is pretty much inclusive. I could have a guy walk up to me at a bar and beat the shit out of my horn, or I could forget it in the trunk of a cab and it would be covered, that kind of thing.
Are there any pitfalls that I Want to be careful of when looking over the contract? Speaking to the broker has been really helpful, but I never trust a salesman and I don't want to miss anything important.
Also, 400 bucks a year isn't a ton of money, but I also only own ~20 000$ worth of stuff, if that, and a large chunk of that is the sax. I'm half tempted to only get the instrument insured, but I think having tenants insurance is own of those 'adult' things to do because from what I understand if me or my roomate light the house on fire, we're responsible for the costs.
Anyway all thoughts are welcome!
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Hey Ashtray on
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Posts
Yeah, one of the more important parts of any type of home/tenant insurance is the liability coverage (i.e. you do something negligent that causes damage to another person or their property). Otherwise, if you only cover your sax, you could still lose it if you, say, accidently leave the bathtub on and flood your landlady's house, and then have to sell it to help pay off the damages.