Tenant Insurance
In this day and age, many people are renting a property instead of buying one. And the need for Tenant Insurance may be overlooked. Whether you are renting a home, or a unit in a building, Aaxel Insurance will make sure you are adequately protected with tenant insurance.
We will review your insurance needs and will recommend an insurance policy that meets your specific expectations at a reasonable cost from a network of our insurance companies.
We will also get you all the possible discounts.
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Frequently Asked Questions About Auto Insurance
Get straight and simple answers to all your insurance frequently asked questions. These FAQs were gathered from Canadian like you.
Why do I need Tenant insurance?
Tenant insurance covers you for the financial loss arising from an unforeseen loss. Examples of such losses, would be,water damage, vandalism and fire. Tenantinsurance also covers you against legal actions arising from your personal actions or ownership of your property.
A lot of people assume they do not need a Tenant’s policy when renting. But have you ever considered how much the contents in your unit are worth? Would you be able to cover the cost of replacing the items out of your own pocket?
Is Tenant Insurance Expensive?
We know how important the place you call home is, which is why our brokers can recommend Tenant Insurance policies that can be tailored to meet your individual needs and budget. Our extensive range of flexible policies covers many types of households and also covers loss or damage to your unit, additional living expensesand more.
If you combine your tenant with your auto policy, you’ll be eligible for a multi-line discount, which reduces your rates. Discounts for higher deductiblesand claim-free policies are also available.
Our great rates will save you money
Some factors that may affect the cost of tenant insurance are:
- – The location
- – Claims history
- – The deductible you select
- – The value of your personal property
How Can I Purchase Tenant Insurance from Aaxel Insurance?
At Aaxel Insurance, we make the process of purchasing Tenant Insurance an easy one. Simply, fill out our online quote form and then leave the rest to us. Our knowledgeable brokers will then search the marketplace for the best possible price available. We may require some additional information from you along the way, such as, but not limited to:
- – The year your Building was built
- – The square footage of your unit
- – The amount of personal property you choose
What is Personal Liability (Bodily injury & Property damage)?
Tenant liability insurance protects you and your family members from lawsuits for bodily injury or property damage. Liability coverage is a core part of every tenant insurance policy.
Contents coverage helps pay to replace or repair your personal belongings if they’re stolen or damaged by a covered peril, such as a fire. So, if someone breaks into your unit and steals your laptop, or your clothing and furniture are ruined in a fire, you may find that contents insurance helps cover the loss
What is covered under Additional Living Expenses?
Additional Living Expenses coverage is included in most tenant insurance policies. It can also be referred to as Extra Expenses After a Loss, but the intention is the same. To help cover out-of-pocket expenses when you have to leave home because of an insured peril or government-ordered evacuation
Do I need Sewer Back-Up Coverage if I am Renting?
Even if you are renting, you may want to consider adding this coverage. Why you may ask. Well, if there is a blockage because a unit above flushed something down the toilet they shouldn’t have, the excess will look for a place to escape. The escape could potentially be your bathtub, sinks or toilets. The Landlord’s policy may not cover the cost to repair the damage. This endorsement is a must have on any Tenant policy
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- Tenant’s Insurance
- Rental Property Insurance
- Cottage Insurance
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