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Insurance for Tenants in Victoria, BC
Most people think of home insurance as something only a home-owner needs.
How often have you read those sad stories about renters in an apartment building who have lost all of their belongings in a fire, have no place to go, and cannot afford to replace their belongings or start over in another rental situation?
The folks you do not hear about are those who have insurance. For as little as $25.00 per month, here is typically what happens:
Immediate Relocation to a temporary shelter such as a hotel until alternate rental accommodations are found.
- Replacement Cost of irreparably damaged property (clothes, furniture, toys, valuables, foodstuffs and so on).
- Professional cleaning and restoration of property that can be saved.
- If necessary a cheque to cover urgent expenses resulting from the fire.
- Increases in rental costs until the building can be re-occupied.
- An empathetic claims adjuster who will guide them to recovery.
What if you are deemed responsible by way of your 'negligence' for causing the loss? (Forgot to turn off the stove, didn't get around to replacing a power cord you knew to be in poor condition, left a candle burning, . . . ).
Tenants who cause damage to the building and/or the property of others can be sued for the total damage.
Without insurance you are on your own.
With Tenants Insurance, in addition to the benefits listed above, your insurer will look after your legal defence and pay for all litigation costs and financial penalties you may incur if found negligent.