Whether you’re a tenant, a homeowner or a landlord, the purchase of property insurance is essential for protecting your personal property.
Many tenants are under the mistaken impression that in the event of a loss, their landlord’s insurance will replace their personal property. However, tenants are required to carry insurance to protect their personal property in the event of loss.
In addition to protecting personal property, tenant insurance also provides liability insurance to protect you in the event you are found responsible for damage to your apartment building. An example would be causing a flood in the building by leaving a bathtub running.
Home/ Townhouse Insurance
The single largest investment most of us will make in our life is our home. Whether you are paying a mortgage or own your home outright, home insurance provides you with protection and peace of mind in the event of an unforeseen loss.
There are a variety of difference home policies available. Some provide coverage from specific types of loss such as fire or windstorm, while others are more comprehensive providing coverage for almost any type of loss.
Understanding where the condo corporation’s insurance coverage ends and where your policy’s coverage begins is critical to protecting the investment you’ve made in purchasing a condo. Condo insurance also ensures that any improvements you’ve made to your condo are replaced in the event of loss. If you’ve purchased a condo as a rental property, you can also purchase coverage to protect your rental income.
Whether you’re a real estate tycoon or just looking to make a few extra dollars with a modest rental property, most direct writers will turn away your rental property business. At Archway, we have access to many different insurance companies to protect your real estate investments.
– For more information on home insurance visit: http://archwayinsurance.ca/