Posted: July 06, 2021 by Kelly Melchor in Money tips, Protect, accidental damage, apartment insurance, house insurance, lease termination, overland flooding, sewer backup, Winnipeg Insurance Brokers Limited
Do I really need renter’s insurance?

This is a guest post from Kelly Melchor, Executive Director of Winnipeg Insurance Brokers. Winnipeg Insurance Brokers Limited is a fully-owned subsidiary of Assiniboine Credit Union, which means we can offer ACU members a special group insurance program, with discounts on home insurance!
If you’re renting your home, whether it be a house, condo or apartment in Winnipeg, insurance is still critically important. Having coverage will ensure that, if something were to happen in your rental, you and your belongings will be protected.
Homeowner? If you own your place, you’ll want to review the home insurance options and make sure you’re properly covered.

What does renter’s insurance cover?
Renter’s insurance (also known as “tenant insurance”) protects you in the event of:
- Accidental damage to the property you’re renting
- Any unintentional bodily injury to others that occurs at your rental
- Damage or theft to your belongings worldwide
- Any damage you inadvertently cause to your building or to surrounding units
- The cost of alternative living arrangements if you can’t live in your rental because of a claim
Protecting your rental is also extremely affordable – some policies are as low as $15 per month. That’s definitely worth the peace of mind knowing you’re protected.

What other renter’s insurance options should I consider?
Much like property insurance, there are options available to you to enhance your coverage, for example, protecting you from sewer backup or loss of special contents such as jewelry and electronics. Be sure to find out what’s the best option for your situation.
What if I don’t have renter’s insurance?
Not having tenant insurance for your rental unit carries some significant risks, such as:
- Major financial and property loss
- Lawsuits (if there was any negligence on your part)
- Lease termination (if renter’s insurance is a requirement)
Considering tenant insurance in Winnipeg is affordable and easy to secure, so there’s no reason to leave yourself open to these significant risks.
If you’re looking to get renter’s insurance (tenant insurance) for your property, with Winnipeg Insurance Brokers Limited you will work with professional and experienced Insurance Consultants to cover any type of dwelling. Reach out today to get a quote.

Thinking of buying a home and need house insurance? Get the 411 here.
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