Ottawa tenant insurance

Ottawa tenant insurance ranges from $20 to $30 a month.

At an annual rate, that’s $240 to $360 a year.

However, as always, your tenant insurance rate depends on your personal circumstances.

For example, here are a few factors that affect your tenant insurance premium:

• The value of your contents (belongings)
• Your credit history
• Your age
• Your neighbourhood
• Proximity to emergency services
• Construction material of your building
• Etc.

Because there are so many varying factors, the best way to know how much renter’s insurance will cost you in Ottawa is to get a quote.

You can also give our complete guide to tenant insurance costs a read to help you budget.

Need tenant insurance for your Ottawa rental?

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Tenant insurance includes two main coverages, called contents and liability coverage.

At a minimum, your tenant insurance should fully cover you for the value of your personal belongings under what’s called “contents insurance.”

We also recommend that renters carry at least $2M in liability coverage.

Content insurance covers personal property like:

• Furniture
• Artwork
• Jewelry
• Electronics
• Appliances
• Etc.

Pro tip: It can be a good idea to add up the value of everything you own on one handy list.

It’ll give you a good idea of how much content insurance you should have, and will make things more simple if you need to make a claim.

That being said, if you’re not sure about how much tenant insurance you need, or which coverages you should get, the best thing to do is ask.

Get in touch with the team at KBD, and we’ll help guide you through it.

Let’s get you cheap apartment insurance in Ottawa.

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Looking for the cheapest tenant insurance in Ottawa?

Here are a few tried and true insurance tips that you can follow to keep your Ottawa tenant insurance premiums low:

1. Avoid making small claims: If you can afford to pay out of pocket, do it. You’ll keep your insurance history squeaky clean, and your renter’s insurance premium low.
2. Get a higher deductible: The higher your deductible, the lower your monthly rate. Save up the amount of your deductible and set it aside. If you do have to make a claim, you’ll already have your deductible amount handy.
3. Bundle your policies: If you have a car, you can benefit from a lower rate by bundling your tenant and auto insurance together.
4. Shop the market: Get quotes from multiple companies to make sure you’re getting the best renter insurance price. You can contact insurance companies directly, or have a broker do this for you.

So there you have it: our tried and true best insurance broker tips for getting low cost renters insurance.

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Tenant insurance has four primary insurance coverages.

They include:

• Liability: This covers you if you accidentally cause damages to the property owner’s building.
• Personal property: In other words, your stuff. This covers belongings including furniture, art, jewelry, and anything else you keep in your rental unit.
• Voluntary medical payment: In the event that someone is injured at your apartment, this coverage allows you to voluntarily cover their medical fees.
• Additional living expenses: If you can’t stay in your apartment due to an insurance claim, this covers the costs of a hotel, transportation, meals, etc.

If you’re not sure about the type of coverage you need, talk to your broker. They’ll be able to customize your policy for you.

Need a tenant insurance quote?

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The best tenant insurance company for you is usually the one that will get you the best coverage for the best price.

That being said, there are also a few things you can look into before getting on board with a new insurance company.

For one, we always recommend checking Google reviews. Customers usually don’t hold back (whether it’s good or bad) so you can get an unbiased opinion.

You can also look into things about the insurance company like:

• Their payout history
• If they offer the coverages you need
• You can see if your insurance company or broker is legit by checking if they’re licensed on industry sites like RIBO and the Financial Services Regulatory Authority of Ontario

For example, KBD is a licensed insurance broker in the provinces of Quebec and Ontario.

If you’re looking for a local insurance broker near you, contact our Ottawa office.

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You’ve come to the right place.

You can get your Ottawa tenant insurance set up with KBD in less than 10 minutes.

As a tenant insurance broker, we can get you multiple quotes to find the best coverage for you.

But if you want to shop around yourself, you can also call Ottawa tenant insurance companies directly to compare quotes.

Just make sure that the coverage is the same on each policy, so that you’re comparing apples to apples.

Need tenant insurance in Ottawa?

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Tenant insurance isn’t mandatory by law in Ottawa or anywhere in Canada. 

BUT, as insurance brokers, we highly recommend it. Plus, it’s often required by landlords. 

Tenant insurance provides coverage for your personal belongings in case of theft or damage, as well as liability protection if someone is injured in your rental unit. 

On top of this, many landlords include a clause in their lease agreements requiring tenants to have insurance. 

While it’s not a legal requirement, having tenant insurance is a responsible choice while renting in Ottawa or in any other Canadian city.

Need renters insurance in Ottawa?

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Your insurance provider will personalize your tenant insurance policy to suit your needs.

Here’s a few factors that affect the coverage types and amounts that you need as a renter:

• The value of your possessions & the type of items you own (ex: jewelry or electronics)
• The amount of coverage you choose
• Your deductible
• Location
• Type of building 

Tailoring your policy to your unique circumstances ensures you’re adequately protected without overpaying for coverage you don’t need.

Need renters insurance in Ottawa? We can help with that.

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In Ottawa and throughout Ontario, landlords can require tenants to provide renters insurance before moving in.

If you don’t have tenant insurance in place while renting, it can be considered a breach of contract.

Plus, as a tenant, it’s in your best interest to get renter’s insurance anyways.

This is because tenant insurance protects you as the renter if there are losses or damages to your belongings.

It also covers you if you’re found liable for damages to the landlord’s building.

Learn everything you need to know about tenant insurance requirements on our blog.

Need Ottawa tenant insurance?

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Insurance is a personalized service, so the best tenant insurance policy for you will be different to your neighbour, or even your roommate.

Why, you ask?

Because every renter needs different coverage.

For example, renter’s insurance covers two main areas:

1. Your contents (aka: your belongings)
2. Damages you unintentionally cause to the building (under liability coverage)

So for example, if you don’t have a lot of belongings to insure, your contents insurance will cost less than for someone who’s, say, an art collector – or someone who has a bunch of valuable jewelry.

Because it varies so much from person to person, the best thing to do is to get a quote.

Need Ottawa renter’s insurance?

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Simple! Give us a call.

But to back things up a bit, there are two ways to shop for renters insurance in Ottawa (& the rest of Ontario):

1. Through an insurance broker like KBD Insurance
2. By contacting insurance companies directly

The advantage of working with an insurance broker is that they can compare rates for you.

Shopping the market can take hours out of your day, so working with an insurance broker can take that off your plate.

Alternatively, you can contact different insurance brokers directly to buy tenant insurance. Just make sure that when you get quotes, you’re comparing the same coverage and price.

Looking for cheap tenant insurance in Ottawa? We can help with that.

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As a renter, you’re not responsible for insuring the building you live in.

However, if you cause damages to your landlord’s property, you can be held liable.

Because of this, tenant insurance covers you for the following:

1. Contents (your personal property)
2. Liability (if you cause damages to a third party’s property)

On the other hand, your landlord is responsible for purchasing landlord insurance to cover the building.

So to compare, landlord insurance covers things like:

1. Damages to the building
2. Rental income protection, which covers loss of income due to a claim

So that’s the difference, in a nutshell.

As a renter, you don’t have to worry about landlord insurance.

Need rental insurance in Ottawa?

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We typically recommend that renters carry at least $2M in liability coverage.

To put this into perspective, let’s say your MasterChef attempts in the kitchen go wrong, and you cause a major fire in the building.

Damages to an apartment building with multiple units can easily reach $2M.

So liability coverage isn’t really something you should skimp on.

But if you’re not sure what the right amount is for you, the best thing is to give us a call.

We’re happy to answer any questions.

Need a quote for rental insurance in Ottawa?

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The two main coverages in renter insurance policies include liability and content (personal property) insurance.

You can also get covered for voluntary medical payment, and additional living expenses.

These cover medical expenses if someone is injured at your apartment, and accommodations if your apartment becomes unlivable due to an insurance claim respectively.

Ready to get tenant insurance for your Ottawa rental?

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When an incident occurs, like theft or damage that results in a tenant insurance claim, promptly notify your insurance provider.

Your insurer will assign a claims adjuster to assess the damage or loss. 

As the policyholder, you’ll need to provide documentation of the incident and any affected belongings. 

The adjuster will then determine coverage and guide you through the claims process. 

Once approved, the insurer will either reimburse the policyholder for the loss or, in some cases, directly pay for repairs or replacements. 

Quick reporting and thorough documentation are key to a smooth insurance claims process.

Need Ottawa tenant insurance?

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