5 Tenant insurance myths debunked

3 min read on home

Mar 18, 2019


According to a recent study of Canadian renters by Kanetix.ca1 nearly half of those polled didn’t have tenant insurance coverage. This is partly due to the fact that many people are confused about what tenant insurance actually covers and how it can benefit them. We’re debunking 5 of the top misconceptions when comes to tenant insurance.

Myth #1: “My landlord’s policy will cover me”

Truth: This is probably one of the most common misconceptions when it comes to tenant insurance. But the truth is, your landlord’s insurance only covers the building you live in and will not cover your personal belongings. For many buildings, tenant insurance is mandatory for anyone signing a lease. Ask your landlord before you sign a lease, or if you’re already renting, review your contract to see if there is a clause that mentions tenant insurance.

Myth #2: “I’m covered under my roommate’s policy”

Truth: Unless your name is specifically listed under your roommate’s policy, you are not covered. Each tenant in a home, apartment, or condo is responsible for their own insurance to protect their belongings.

Myth #3: “I don’t have a lot of stuff to cover”

Truth: Anybody who’s ever moved knows we all have more “stuff” than we realize. And those items might be more expensive to replace than you realize. An expensive entertainment system? Your favourite couch? Your entire wardrobe? Even necessities like towels and dishes are covered under tenant insurance.

Myth #4: It only covers my belongings

Truth: Many tenant insurance policies, including those through Johnson Insurance, also provide:

  • Personal liability coverage if you unintentionally cause injury to someone or damage someone’s property
  • All-risk coverage which covers accidental damage in many circumstances
  • Coverage for additional living expenses if you have to move out temporarily or find a new home due to damage
  • Coverage for dwelling improvements and betterments made by you or acquired at your expense

Myth #5: “It’s too expensive”

Truth: Tenant insurance is actually relatively inexpensive; especially when you consider the peace of mind you’ll have, knowing your belongings are covered. Plus, if you’re a Johnson Insurance policy holder, you may qualify for additional discounts when you bundle tenants and car insurance.*

Have additional questions or want more information? Visit our tenant insurance page.

  • Johnson Inc. (“Johnson”) is a licensed insurance intermediary. Home insurance policies are primarily underwritten by Unifund Assurance Company (“Unifund”). Unifund and Johnson share common ownership. Home and auto insurance not available in NU. Eligibility requirements, limitations, exclusions or additional costs may apply, and/or may vary by province or territory.

  • *Bundled savings may be applied to home insurance policies where home and car policies are underwritten by Unifund.
  • 1- https://www.canadianunderwriter.ca/insurance/tenant-insurance-expensive-15-per-month-renters-say-1004129885/
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