Welcome back! I know you might be thinking that a piece on insurance may not be the most entertaining thing you’ll ever read, but I assure you: if you take a moment to read through our free guide “7 Questions About Insurance You Need to Ask” , you’ll learn everything you need to know about tenants insurance to get you going.
You’re probably asking yourself “what on earth is tenants insurance” and I guarantee you the answer is not “ugh, those darn insurance companies just want more money!” Tenants insurance is unfortunately a secret to most - but could quickly become a life saver.
Even if insurance is not your thing, remember this:
1. Tenants insurance protects the renter (you!) where you typically do not have any insurance.
2. Liability is a huge concern in today’s world, and you’re more vulnerable than you think are.
3. You’re liable to bad things that happen on your property whether they’re your fault or not.
4. Don’t be lazy, read the guide. (It’s only 7 points and takes only minutes). At least you’ll know what you’re in for.
There is no such thing as a uniform insurance policy but my trusty friend Maria from The Co-operators helped us fill in the gaps to give you a general overview. You may ask yourself: How could I possibly afford it as a student? Here’s where I become your best friend. Tenants insurance is relatively in-expensive. I am currently paying about $20 a month and I have A LOT of coverage. I asked around to a few friends who also have coverage and some are paying a little less ($15/month) or a little more ($22/month). Like most things related to insurance, there are a lot of variables so the cost varies. I know this seems like another expense that you don’t want to take on while in school, but it is worth it!
Want to know more about tenants insurance? As I said, read the guide. There is also loads more information online.
Until next time,