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Benefits of Tenant Insurance: What Renters Need to Know

Updated: Nov 5, 2022

Tenant insurance in Edmonton Alberta

Though landlords have insurance to protect their property, tenants who don't also have their own insurance are left open to many serious risks. At Klondike Insurance Agencies Ltd., we provide home, condo, and tenant insurance in Edmonton, and we want to help you make sure that you and your home are protected.

Here are the main benefits of tenant insurance that every renter needs to consider.

Accident Protection for Your Belongings

In the event of a flood or a fire, you could lose some or even all of your belongings. Many people underestimate how much it would cost to replace their furniture, clothing, electronics, and other possessions. By choosing the right level of coverage with your Edmonton tenant insurance, you'll be reimbursed for the value of your belongings and be able to repurchase them.

Theft Protection

Tenant insurance also protects your possessions from theft and vandalism. Your landlord's insurance will cover damage to the building, but not to your belongings. A tenant insurance policy that offers theft and vandalism protection can even extend to protecting the belongings you have on you while you travel and to belongings stolen from your vehicle.

Liability Coverage

Accidents can happen inside of your home when you least expect them. A visitor may slip on your bathroom floor or trip and fall in your living room. In case someone suffers bodily injury while at your home, tenant insurance will protect you from compensation for their medical expenses or wage losses.

Financial Protection

Finally, tenant insurance payments are minimal and highly affordable compared to paying out-of-pocket to replace your belongings. Tenant insurance significantly reduces the risk of sudden financial hardship.

Rest Easier with the Right Tenant Insurance in Edmonton

Klondike Insurance Agencies Ltd. offers flexible home, condo, and tenant insurance policies in Edmonton. Our tenant package insurance is flexible and can be easily adjusted to your needs. Many landlords require that renters have tenant insurance. However, even if your rental property does not require it, you should definitely have tenant insurance for your own protection and peace of mind.

To find affordable tenant insurance in Edmonton that's right for you, just contact Klondike Insurance Agencies Ltd. today.


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