Tenant’s insurance
designed for renters
From apartments to rented houses, get tenant insurance coverage that was created with renters in mind.
What is the difference between tenant insurance and renter’s insurance?
A question that is often asked is “What is the difference between renter’s insurance and tenant’s insurance?”
Although both terms are used in everyday language, the Insurance Bureau of Canada and belairdirect use the term tenant’s insurance and refer to it as such within any documents and communications.
Why do you need tenant’s insurance?
Even though you’re not the owner of the home, as a tenant, you should protect yourself and your personal property. Your landlord’s insurance only covers the building and the assets that they own. Their insurance policy may not cover personal property that belong to tenants if it gets damaged.
Tenant insurance can therefore protect your personal belongings in the event that they are either lost or damaged in a covered incident. This may include personal items such as clothing, your furniture and any personal items within your rented property.
Tenant insurance also provides you with liability coverage in the event that someone hurts themselves while on the property you rent and may help pay for medical bills, property damage and lawsuits.
Finally, tenant insurance can help you get back on your feet after a covered incident by reimbursing living expenses if your place of residence becomes uninhabitable.
What is covered by tenant’s insurance?
With tenant’s insurance coverage from belairdirect, the following could be covered in the event of a covered incident:
Your personal property
This includes the things you own, wear or use while you’re in your rented space, like jewelry, clothes, shoes, and electronics. It’s taken you a long time to amass all of your possessions. Tenant insurance can help ensure that you don’t have to start from scratch after a covered incident.
Additional living expenses
If your rental dwelling becomes unfit to live in due to a claim, you may be eligible for financial help to cover living expenses so that you can get your life back to normal as quickly as possible.
Personal liability coverage for tenants
You can rest easy knowing you’re covered if ever somebody accidentally gets injured on your rented property or a covered incident causes damage to somebody else’s property. This may cover things like medical expenses, lawsuits and property damage. Liability coverage may also protect you if ever you injure someone accidentally or cause property damage anywhere in the world.
Optional Water Damage Coverage
By adding this additional coverage to your tenant insurance policy, you'll be protected if water from an external source suddenly and accidentally begins seeping into your unit due to an event like rain, snow or leaks.
belairdirect's water damage coverage could protect you from:
Sewer back-ups
If water should accidentally back-up from the sewer system and begin flowing into your unit, the damages could be covered.
Overland water
If you qualify, water damages caused by overflowing from a lake, river, heavy rain or rapid snowmelt that enters your unit from above ground could be covered.
Frequently asked questions about tenant's insurance
Still have questions about tenant’s insurance? We’re here to help.
1 - Does tenant insurance cover damage to the occupied home and/or the building?
Tenants are held financially responsible for the harm they cause to any part of the building in which they live. Your liability coverage will protect you if you cause accidental damage to the building – whether to your unit or to the whole building.
2 - Is it legal to require renter's insurance?
Although there’s no law about having renter's insurance, landlords can require a tenant to buy and maintain tenant's insurance as a requirement of the lease. In addition, requiring tenants to purchase their own insurance policy is the only real way to protect their possessions.
3 - What is the difference between renters insurance and homeowners insurance?
Insurance for renters differs from homeowners insurance because the renter isn’t the owner of the house or apartment that needs to be covered. If the place they’re renting were to be damaged by a covered loss, they would not be responsible for repairing the damages. That would fall under the landlord’s responsibility and their insurance policy.
A tenant insurance policy would instead cover a renter’s personal property within the apartment or rented home if it were to be damaged, lost, or stolen due to a covered incident.
A renter’s insurance policy could also cover the cost of a hotel or alternate place to stay while your apartment or house is being repaired and uninhabitable to help you get back on your feet faster.
4 - I am a student renting an apartment, but I go back home during the holidays. What should I do before leaving?
Before leaving, unplug appliances. When you're gone, have a friend check on your apartment daily to ensure there is no water damage, and ask them to clear snow from the balcony, etc.
Make sure you check the terms and conditions of your policy to confirm that you have adequate coverage.
5 - If I work from my apartment, am I covered by my tenant insurance policy?
Working from home? As a renter, you can rest assured. No matter if you rent an entire house or an apartment, tenants can work from home with reassurance knowing that their personal property is protected from a covered incident. With tenant insurance coverage from belairdirect, your policy includes stipulations that allow you to concentrate on your work.
An important thing to note is tenant insurance is not designed to protect you while running a business from your apartment or rented home. If you work as a freelancer or run your own business, your business equipment and supplies would be considered commercial, and would not be covered by a tenant insurance policy. You would need to invest in commercial insurance coverage that covers business assets.
Talk to an insurance agent if you have any questions.
6 - Does tenant insurance cover a renter’s property in a storage unit?
Tenant insurance can cover a renter’s personal property within their apartment, or while they’re moving. Under a standard tenant insurance policy, a renter’s insurance can cover their personal belongings both inside and outside their home, such as items you leave in your car. A storage unit, however, is considered a long-term storage solution. This would mean that your personal property would not be covered under your tenant insurance coverage if it’s being stored in a storage unit or commercial warehouse.
If you plan to store your personal belongings within a commercial storage unit for an extended period of time, you’ll need to talk to an insurance agent and consider purchasing standalone storage unit insurance. Because no insurance policy is identical to another, it’s important that you check to see what your tenant insurance policy entails.