Tenant Insurance in Windsor

A tenant insurance policy is a smart idea if you rent a home or apartment in Windsor, Ontario. This is because tenant insurance, which you may also know as renters insurance, can protect you against the risks that come with living in a leased space. Find out more about this important form of Windsor home insurance below.

Windsor tenant insurance defined

What is tenant insurance? This is a question that many people ask themselves and one that an insurance broker in Windsor can help you answer. Understanding how tenant insurance works is important before taking the plunge and purchasing it.

Ultimately, the purpose of tenant insurance is to protect tenants against the risks that come with living in a space that you do not know. Primarily, this type of home insurance can safeguard you against theft, liability claims, and damage to your personal belongings.

For this reason, most tenant insurance policies in Windsor contain personal liability coverage, additional living expenses coverage, and contents coverage, which you will notice share many similarities to the coverages that are included with basic homeowner’s insurance policies in Windsor.

The only key difference is that tenant insurance policies do not include dwelling coverage, i.e., coverage that pays for damage to the physical structure of your home. This is because landlord insurance contains dwelling coverage.

Do I need to buy tenant insurance in Windsor?

It depends. Many people wonder if they need tenant insurance, and the answer varies. While it is not government-mandated in the way that car insurance is, that doesn’t mean that you aren’t required to purchase it. If you want to know if you are legally obligated to buy tenant insurance, all you have to do is read through your lease agreement. Your lease agreement will clearly state if you are required to have valid tenant insurance coverage throughout the duration of your lease. If your lease agreement states that you have to buy coverage, then you must comply with this, or else you will be in breach of your contract and could face eviction.

Many landlords will state upfront that they require tenant insurance coverage and will not allow you to move into the space before you provide proof of insurance coverage. Some landlords will even specify how much coverage you need to buy, e.g. $2,000,000 worth of liability coverage. If you are having trouble determining whether you are required to purchase renters insurance, contact BrokerLink today. Lastly, even if your landlord does not require you to buy coverage, purchasing a policy is still a wise choice due to the many benefits that tenant insurance provides.

A breakdown of Windsor tenant insurance coverage

Standard tenant insurance in Windsor usually contains three main types of coverage: contents coverage, additional living expenses coverage, and liability coverage:

Contents coverage

Contents coverage is the type of insurance that will pay for you to replace or repair damaged items inside your rented home. So long as your policy covers the cause of the damage, you can file a contents coverage claim. Although covered perils can vary between providers and policies, most typically include theft, wind, smoke, fire, explosions, falling objects, and more.

Before adding contents coverage to your policy, insurance experts recommend thinking long and hard about the total value of the items inside your home. From there, choose a coverage limit that reflects this amount so that you will be covered in the event of a total loss. You can start by calculating the actual cash value of the items that will be stored in your rented home. Keep in mind that actual cash value coverage accounts for depreciation and is, therefore, usually less expensive than replacement value coverage. That said, replacement value coverage will usually result in a higher payout in the event of a loss. If you wish to add this type of coverage to your Windsor tenant insurance plan, you can add up the value of your personal items when you purchase them.

Additional living expenses coverage

Additional living expenses coverage is another key component of Windsor tenant insurance plans. This type of coverage will pay you to live elsewhere if your rented space is damaged and temporarily uninhabitable. While your damaged home is repaired, the cost of which should be covered by the landlord insurance policy, you may need to seek refuge elsewhere. Staying in a hotel or booking a ride share, such as an Airbnb, can add up quickly.

Thankfully, additional living expenses coverage would help you pay for these costs, as well as others, like storage unit fees, delivery services, and extra food bills incurred during this period. Please note that in order to claim additional living expenses coverage, the damage to the unit must have been caused by an insured peril, like fire, lightning, smoke, explosions, etc.

Liability coverage

Lastly, liability coverage is another must-have when it comes to Windsor tenant insurance. Liability coverage comes into play if a third party, such as a house guest, files a liability claim against you for bodily injury or property damage. This might happen if they visit your home and injure themselves while there or if your home causes damage to their personal property. Since lawsuits are expensive, having liability insurance will come in handy. Some landlords stipulate how much liability insurance a tenant must buy, though usually, it is not recommended that you purchase less than $1,000,000 in liability coverage. It is worth noting that liability coverage can also pay for medical expenses and repair bills in addition to legal fees.

Extra tenant insurance coverage for Windsor renters

Extra tenant insurance coverage that might be of interest to Windsor renters is as follows:

Overland water coverage

Overland water coverage is a type of flood insurance that will pay to replace your belongings if they are damaged due to water damage. So long as the water damage is caused by an overflow of water from a nearby lake or river, melting ice, or heavy precipitation, you can file an overland water coverage claim. Since Windsor is located on the Detroit River, purchasing this type of extra protection might be wise. The belongings that it can pay to replace range from your clothes and furniture to electronics, artwork, sporting equipment, and more.

Sewer backup coverage

A second form of flood insurance is sewer backup coverage. This type of coverage explicitly protects tenants against water damage caused by sewer backups. Sewer backups occur when wastewater or sewage is blocked and comes out of the drains or sinks in your home. Given how much havoc this can wreak on any kind of home, having sewer backup coverage is strongly recommended, no matter which floor you live on.

Identity theft coverage

Identity theft coverage is another form of protection that Windsor renters should know about. It can protect you in the event that your personal identification or information is stolen from your home. Specifically, it can protect you if your passport, social insurance number, credit card, or driver’s licence is stolen. Identity theft coverage will pay for any money lost due to the theft and the costs incurred trying to recover your stolen information.

Personal valuables coverage

One final type of extra protection for Windsor renters is personal valuables coverage. Think of it as an upgraded form of contents coverage. It is designed for renters who have many high-value items inside their homes. These may include original artwork, vintage wine, musical instruments, fine jewellery, and more. If your home contains many valuable items, consider adding a personal valuables coverage floater or rider to your policy. Since contents coverage has many limits and restrictions, personal valuables coverage is the best way to ensure that high-value items are covered if they are ever lost or stolen.

How do insurance companies calculate Windsor tenant insurance premiums?

Insurance calculations are complex, so providing a tenant insurance estimate can be challenging without knowing more about you and your home. A few of the factors that an insurance company will consider when assigning your tenant insurance premium in Windsor are as follows:

  • Property type
  • Location
  • The estimated value of your personal belongings
  • Your credit score
  • Whether or not you have roommates, and if so, how many roommates you have
  • Whether or not you have pets, and if so, how many and what species and breed they are
  • Details on the property such as the building materials, including the roof, plumbing, and electrical
  • The heat source of your rental
  • Your personal insurance claims history
  • Your chosen deductible amounts

For the most accurate estimate of the cost of your Windsor renters insurance policy, contact BrokerLink and request a free insurance quote today.

How does tenant insurance differ from landlord insurance?

There are several differences between landlord and renters insurance, and it’s important to understand what they are before purchasing tenant insurance. Some people are confused, believing that tenant insurance and landlord insurance cover the same things, but they don’t. That is why tenants must have their own form of protection via tenant insurance.

Landlord insurance protects landlords or property owners against the unique risks they face, while tenant insurance protects renters against the specific risks they face. As such, landlord insurance will cover damage to the physical dwelling, i.e. the walls, doors, or windows of the home that the tenant lives in, but it will not cover damage to any of the tenant’s belongings. A tenant needs their own insurance policy if they want their personal belongings to be protected. However, landlord insurance may cover damage to the landlord’s belongings inside the leased space, such as appliances or window coverings. Further, landlord insurance covers liability claims made by tenants, whereas tenant insurance covers liability claims made by third parties, such as guests or other visitors to your home. You can learn more about landlord and tenant responsibilities by calling BrokerLink and speaking with a licensed insurance broker today.

If I have roommates, do we each need to purchase a tenant insurance policy?

It is generally recommended that policyholders purchase their own tenant insurance coverage, even if they live in a rented space that they share with others. Some insurance providers will allow more than one policyholder to be named on a policy. There are usually restrictions on the number of people, e.g. two, three, or four people maximum. Still, you can purchase a single-tenant insurance policy for multiple people if you wish. The only drawback of this is that you will have less control over your policy.

For example, since any policyholder can choose to file a claim, one of your roommates might file a claim without notifying you. This could lead to an increase in your rates, but there wouldn’t be much that you could do about it. In addition, some insurance policies only offer protection to the main policyholder, so if everyone’s belongings were damaged in a fire, it’s possible that the insurance payout would only cover the cost of replacing the primary policyholder's belongings.

Thus, before purchasing renters insurance for you and your roommates, be sure to speak with a BrokerLink insurance broker who can make sure that you are allowed to do this. A broker will also ensure that you all have equal protection in the event of a claim. Alternatively, an insurance advisor can also help you find the right coverage for yourself if you choose to purchase a policy independently of your roommates.

We’re in your community

BrokerLink is the go-to insurance brokerage in Windsor for a reason. We always put our customers’ needs first because we are a customer-first brokerage that aims to provide dynamic, personalized coverage. Contact BrokerLink today to find out more about how we take care of our customers and contribute to the community of Windsor.

Contact us

At Windsor BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible. We can also provide more information on additional interest home insurance and offer quality tips for first-time renters in Windsor.

You can reach us by phone, email, or in person at any of our Ontario locations. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Windsor renters insurance FAQs

Where can I buy renters insurance in Windsor?

Windsor customers can usually purchase tenant insurance coverage from insurance companies and brokers nearby. You might also be able to buy it from the comfort of your home, online or over the phone.

How can I save money on my Windsor tenant insurance policy?

A few ways that customers can save money on Windsor tenant insurance is by picking high deductibles, paying for their policy yearly instead of monthly, and paying all insurance bills by the deadline. You might even qualify for a tenant insurance discount, which would reduce your premium by installing a burglar alarm system or sewer backup detection device in your home.

What doesn’t Windsor tenant insurance cover?

Although Windsor tenant insurance is designed to protect your personal belongings from damage and protect you against liability claims, there are restrictions. For example, intentional damage will never be covered. You also can’t take our tenant insurance coverage on a home you live in illegally. Damage to your personal belongings caused by a risk not stated in your policy, e.g., flood damage when you don’t have overland water coverage or sewer backup coverage, will also not be covered.

Can flood insurance be added to renters insurance policies in Windsor?

In most cases, yes. Suppose your insurance provider offers flood insurance, such as overland water coverage or sewer backup coverage. In that case, chances are you can choose to add it to your policy as a form of extra protection. Be prepared for your insurance costs to increase, as adding extra coverage will usually increase your premium. That said, flood insurance has many benefits- namely, you will be covered if water damages your personal belongings and they need to be replaced.

What types of tenant insurance claims are most common in Windsor?

Theft claims are by far the most common type of tenant insurance claim in Windsor, Ontario. That said, third-party liability claims, fire claims, and flooded basement claims are also common.

Where can I get a free tenant insurance quote in Windsor, Ontario?

If you are looking to obtain a free tenant insurance quote in Windsor, reach out to a broker or agent near you and be prepared to answer some questions about your tenant insurance needs. For example, you will need to answer questions about your leased home and the type of coverage you want to buy.

If you have any questions, contact one of our local branches.