Renter's insurance

If you are moving into a house or apartment, renter's insurance should be one of your top priorities. Your landlord carries rental property insurance, but this doesn't include coverage for your furnishings and valuables if they are destroyed in a disaster or stolen in a burglary.

Reasons for getting tenant's/renter's insurance:

* Renter's insurance provides financial protection for your possessions.

* Like home insurance, renter's property insurance protects you from personal liability if someone is injured in your home.

* Finally, renter's property insurance can cover the cost of temporary accommodation if you aren't able to live in your apartment because of a peril covered under your policy.

What type of renter's property insurance to choose?

* Comprehensive

* Broad

With either of these renter's insurance options, it's important to keep a detailed inventory of your possessions and, in some cases, pay an additional premium for items that exceed the limit of your policy.

Progressive Renters Insurance

Progressive Renters Insurance may be just what you need if you want to protect your belongings but don't own your own home.

One night, around 11:30 pm, my roommates and I heard the fire alarm go off. I assumed it would just be a typical fire drill. So we all raced outside, away from the building. It was cold out, and I was not properly dressed for the weather.

Our Resident Assistants (RAs) eventually told us that this would take longer than regular fire drills. So, they got another dorm opened for us so we could go inside. During the night, we hung out in a cafeteria and got a report that the sprinklers had gone off in our dorm that we had evacuated earlier. They didn’t know where or how wet things had gotten. This was odd, considering there was no fire. As a group of us began talking, the topic of renters insurance came up.

As I have already mentioned, I had never thought of the need until then. After all, I didn’t own much in my apartment. In addition, every fire drill I had ever been in was a false one - until now. Anyhow, as the night got later, we still were not allowed back into our dorm. So, at 4 am, I called my cousin . He lived nearby, so he came and got me.

I was still worried about my possessions, like my computer. I went to his house and tried to sleep — as I thought of a flooded apartment. The next morning, I called the people in charge of where I lived and they said it was ok to go back into the dorm.

If you have further query feel free to contact Canada Insurance Plan