Renters Insurance: 10 Things You Didn’t Know Are Covered
If you have a renters insurance policy and you’re under the impression that it only protects you against fire and theft, we’ve got some news for you. There are more than just two unexpected situations that are covered.
Here are some situations you may have not known were covered under your policy.
- A thief breaks into your home and rides off on your street bike.
- The airline loses your luggage on your trip and its gone for good.
- Your fish tank breaks, causing the water to flood your apartment and leak in to the apartment below you.
- You forget that you were filling up the tub for a relaxing bath and it overflows into the apartment below you, causing extreme water damage.
- You accidently run into someone with your bike and they take action by suing you.
- Your upstairs neighbour leaves for vacation during a cold spell and their pipes freeze and burst—flooding your apartment.
- While you're having some quiet time in the next room, your toddler decides it’s a great idea to flush their entire Lego set down the toilet, which then overflows into the apartment below you.
- A power surge hits your building and fries your expensive new deep freezer filled with hundreds of dollars in groceries.
- A friend stops by after work and has a few too many drinks, falls down your stairs, breaks their leg and sues you.
- Your downstairs neighbor forgets they are making stir fry on the stove, setting their apartment on fire and causing you to have to stay in a hotel while the repairs and cleaning is done.
There are plenty of reasons to purchase renters insurance. For an average of $25 a month, tenant insurance could be the best investment you make.
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