Being a tenant often means freedom. But this freedom also comes with responsibilities. Many people think that the landlord’s insurance is enough to protect their rental unit, but in reality, it doesn’t cover your personal belongings. In the event of a loss, such as theft, water damage, or fire, you could lose everything without the possibility of replacement if you don’t have tenant insurance.
And that’s not all. Imagine an accident occurs in your rental unit and causes damage to other units, such as a fire that spreads or water damage that affects a neighbor’s apartment. Without insurance, you would be personally responsible for the repairs. The experts at J. Gérard Fortin & Associés know this well: tenant insurance is more than a luxury; it’s a necessity. For just a few dollars a month, you protect yourself against major financial consequences.
Choosing the right tenant insurance isn’t just about protecting your furniture or TV. This protection can include several essential aspects that are important to understand before purchasing a policy. Depending on your needs and budget, your broker can guide you toward the protections best suited to your situation.
The experts at J. Gérard Fortin & Associés can help you choose coverage that takes into account the value of your belongings, your lifestyle, and your civil liability obligations. Some insurances also offer additional protections to cover temporary relocation expenses if your rental unit becomes uninhabitable after a loss. By discussing with your broker, you can tailor your contract to match your daily reality.
Several options are available to you in tenant insurance, allowing you to choose protection perfectly suited to your lifestyle and budget. Remember, it’s your responsibility to determine the appropriate insurance amounts, as your broker does not have an evaluation mandate. At J. Gérard Fortin & Associés, our experts are here to assist you, answer your questions, and help you make informed choices with confidence.
From the building insurance amount, you automatically receive an additional amount for personal property, ranging from 50% to 70% of the building amount, listed under personal property not covered by specific insurance.
The personal property coverage in your home insurance policy includes coverage for items belonging to a family member studying away from home. It can also cover personal effects of family members during a stay in a healthcare facility. Additionally, coverage extends to items temporarily away from the premises, such as during travel abroad. Most multi-peril home insurance policies include a replacement cost clause for contents, meaning that damaged or destroyed items, whether clothing or accessories, will be replaced with new ones of the same nature and quality. You should be attentive to any specific limitations in your contract regarding contents. If necessary, you can purchase expressly designated insurance.
If, following a covered loss, your residence becomes uninhabitable, your owner-occupant policy provides amounts to cover additional living expenses during repairs or while you are temporarily away from your home.
The various contracts offered by our insurers either provide a percentage of the insured value of the building or specify different amounts or durations depending on the policy you have purchased. This same coverage also protects against loss of rental income if your home contains one or more rented units.
This part of the homeowner policy covers your personal liability for bodily injury or property damage that a third party might suffer as a result of your everyday personal activities or the insured premises (homes or land) that you own or use. The liability coverage amount is the maximum amount for which you are insured in the event of a lawsuit. The insurer will handle your legal defense if a claim is made against you.
When determining the liability coverage you need, consider that this protection applies worldwide. If you travel even occasionally, it may be wise to increase your limit to $2 million and even consider purchasing an additional umbrella liability policy. If you engage in professional activities, such as being self-employed, you must declare this and obtain coverage for professional activities.
The owner-occupant policy covers medical expenses for minor incidents that may occur on your property. This coverage includes medical costs incurred by or on behalf of a victim of an accident resulting from your private life activities or incidents on the insured premises. It also covers bodily injuries sustained by your domestic employees, such as a nanny or housekeeper, while performing their duties.
This coverage protects against accidental property damage caused to a third party’s belongings, provided the damage results from your private life activities or occurs on the insured premises.
These descriptions are provided only as a guide. Certain conditions, limitations and exclusions may apply to each of these guarantees, as specified in the forms. Coverage is also subject to change without notice. Please refer to the forms provided by your insurer and to their modifications.
Your policy may include a variety of interesting additional coverages, here are a few examples:
Water damage
Earthquake
Fire following an earthquake
Oil damage
Protection for your belongings outside the insured premises
Lock replacement in case of theft or loss of keys
Gravestones
It is our job to present and compare the additional coverages offered by our insurers and to provide you with the best protections to meet your needs.
These descriptions are provided only as a guide. Certain conditions, limitations and exclusions may apply to each of these guarantees, as specified in the forms. Coverage is also subject to change without notice. Please refer to the forms provided by your insurer and to their modifications.
You rent your entire home or part of it, short-term or long-term, on sites such as Airbnb, HomeAway, and Kijiji? Several risks are associated with this type of practice: theft, property damage, civil liability, etc. Fortunately, a new residential solution protecting you from these dangers is offered.
This solution offers protection for risks not found in traditional policies, such as:
Water damage and sewer backups
Theft and/or vandalism during the rental period
Loss of rental income
This insurance also applies to Airbnb and HomeAway hosts.
Do you have more questions?
Contact your expert broker at J. Gérard Fortin & Associés and they will provide you with the appropriate information.
Tenants and co-owners, simplify your claims process by opting for the online inventory of belongings, accessible from your computer, tablet, or phone. This simple and practical tool lets you easily list your belongings and estimate their actual value.
Why keep your inventory up to date ?
You are better prepared in case of loss, theft, or damage.
You greatly simplify the claims process.
You can more accurately assess the value of your assets.
You clearly identify your home insurance needs.
You can then discuss your coverage with your broker if adjustments are needed.
Sign up now and get one year of free service. To take advantage, contact an expert at J. Gérard Fortin & Associates.
To learn more about how to properly complete your inventory: Read our article
Download your inventory form here: Inventory Form
If the situation requires, first contact emergency services (firefighters, police, etc.) to ensure the safety of the premises. Then promptly contact your insurer via their 24-hour emergency hotline. They will open your claim file and ask you questions about the event. Please answer thoroughly.
If the situation requires, first contact emergency services (firefighters, police, etc.) to ensure the safety of the premises. Then quickly contact your insurer via their 24/7 emergency line. They will open your claim file and ask you questions about the incident. Please provide complete answers.
Call 911 immediately to request police assistance. An officer will come to the scene to assess the situation and prepare an incident report. Filing a report with the authorities is mandatory for any insurance claim. This report will serve as essential evidence in processing your claim.
Make sure the premises are safe before taking action. Turn off the electricity and, if necessary, the water supply. Act quickly to minimize damage by allowing emergency work such as pumping or drying. Do not clean without professional advice to preserve the evidence needed for the assessment.
Make sure the premises are safe before taking action. Turn off the electricity to prevent any risk. Act quickly by authorizing emergency work such as tarping the roof or boarding up broken windows. Do not clean without professional advice to preserve the evidence needed for the assessment.
Once you have obtained the police report, promptly contact your insurer via the 24/7 emergency hotline. The insurer will open a claim file and ask you questions about the circumstances of the theft. Provide as precise and complete information as possible to help facilitate the assessment of your claim.
Take detailed photos and videos of the damage, both inside and outside, including flooded areas, leaks, and mold. Keep all invoices for emergency expenses such as pumping, drying, repairs, cleaning, temporary accommodation, and replacement of belongings. These documents will help support your claim.
Take detailed photos and videos of burns, soot, charred areas, and damage caused by smoke or extinguishing water. Keep all invoices related to emergency expenses such as accommodation, essential clothing, specialized cleaning, urgent repairs, and infrastructure work. These documents will help support your claim.
List the stolen items with as much detail as possible: descriptions, estimated values, purchase receipts, or photos if available. This step will help the insurer assess your losses. The adjuster may also request additional documents or visit the site to verify the damages. These documents will help support your claim.
It depends on your insurer. In some cases, a roommate can be added to the policy, but it is often recommended that each person has their own tenant insurance to avoid any ambiguity in the event of a claim.
Yes, in most cases, your personal belongings are temporarily covered even when outside your rental unit, such as during travel. However, it is important to check the coverage limits with your broker.
Absolutely. If you make new purchases or if the value of your belongings increases, you can adjust the insured amount at any time by contacting your broker. This ensures your protection is always up to date according to your actual needs.