Renters Insurance

If you rent an apartment, house, or condo, you should consider purchasing renters insurance to protect your possessions and valuables. You can also purchase liability and certain medical insurance within the renter's policy.

Personal Property

Protect personal property in the home or apartment like your clothing, furniture, appliances and certain other assets - subject to limits.  For example, their may be a limit on how much your policy will pay for a personal computer, artwork or jewelry. So if you have valuable collections or even individual items that go beyond the standard coverage values stated in a renter's insurance policy, then you will need to get an endorsement or rider to the policy to cover the full value of each item.  As part of that process you may also be asked to justify the value you place on this item via a professional appraisal.

Loss of Use

Loss-of-use provides payments for certain types of losses when your home is damaged and you cannot safely occupy the dwelling.  The most common example here is when you cannot occupy your apartment and you need to stay at a hotel or motel until repairs are made and you can move back into your home.

Personal Liability

Personal liability insurance provides payments for legal liabilities stemming from damages related to bodily injury or property damage.  Liability insurance is used to protect yourself against lawsuits that might arise because something happened to someone else on your property. This protection can be either against property damage or an injury that might have occurred.  Liability insurance will usually pay for the policyholder's defence in court, if necessary.  The amount of liability insurance coverage provided by a policy is usually stated for "each occurrence."

Medical Payments to Others

Medical Payments to others is a second form of liability insurance that pays for medical treatment for those individuals that might be injured in your home or on your property.  Medical payments covered could include doctor's fees, x-rays, hospital stays and similar expenses.  This coverage does not cover you or your family and is NOT as substitute for medical insurance.