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Tenant insurance coverage

Our tenant insurance policy includes:

Coverage for your belongings

Our tenant insurance protects your belongings when they’re in your home, in your car or with you on vacation.*

We cover your clothing, furniture and electronics, plus other items you keep on the premises like your bicycle, lawnmower or snowblower.

Liability coverage

Our tenant insurance protects you if you accidentally injure someone or damage their property.

For example, if your bath overflows and floods the apartment below, you could be sued for the damage caused.

All-risk insurance

With all-risk insurance, you’re covered against most accidents and losses.

It includes damage caused by fire, lightning, windstorms, hail, theft, vandalism and some causes of water damage. If something isn’t covered, it’s mentioned in your policy as an exclusion or an insurance limit.

Inflation protection

With inflation protection, the coverage amount for your belongings automatically increases with inflation.

Inflation affects everyday prices, so it’s good to know that your insurance policy will keep pace with the cost of living.

Additional living expenses

This covers your extra costs if you can’t stay in your home because it’s too badly damaged after a loss.

It includes extras like the cost of temporary accommodation while your home is being repaired.

Voluntary medical and funeral payments

This covers medical or funeral costs if a visitor is accidentally injured in your home and you’re not liable.

For example, while your nephew is visiting, he has an allergic reaction to a new food. This insurance can cover medical costs, like the ambulance to the hospital.

Additional water damage coverage

Tenant insurance includes water damage for some losses, but you may be eligible for extra coverage.

Options include sewer back-up, water seepage through the foundation or roof and overland flooding.

Optional coverage for renters

You can customize your policy with coverage options, so you get the protection you really need.

Speak to your Desjardins Agent if you want to add home business coverage, earthquake coverage or additional liability insurance.

Your deductible

Your deductible is the amount you agree to pay when you make a claim.

For example, if a fire causes $7,000 in damage to your property and your deductible is $500, your insurance company will pay you $6,500 ($7,000 minus $500).

If you choose a higher deductible, you’ll pay a lower premium. But that means you’ll have to pay more out of pocket in the event of a loss.

Limits for some types of property

When you have tenant insurance, your belongings are insured up to the personal property amount. You’ll see this amount on your insurance policy.

However, there are limits in the amount of insurance on some types of property, including:

  • Money, bank notes, coins
  • Business property
  • Watercraft
  • Jewellery and furs

See your policy for a complete list.

Remember that if you have questions about your coverage, you can always speak to your Desjardins Agent. They’ll be happy to explain your policy to you.

*Coverage for property temporarily away from the premises is limited. If you want to insure up to 100% of the personal property amount listed on your insurance, you’ll need to purchase additional coverage.

This page contains only a general description of coverages and is not a contract. Coverage and limits may vary in some provinces. All coverages are subject to the terms, provisions, exclusions and conditions in the policy itself and in any endorsements.

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