Even if you don't own a home and don't need regular home insurance, you still need to protect your personal possessions. You may also be held responsible for damages caused to the dwelling in which you currently reside. Apartment and building tenants will need tenant insurance, while condo owners will benefit from condo insurance.

Tenant or condo insurance, depending on which type you require, will cover your dwelling's contents, any upgrades you've made, and your personal belongings.

Why Do You Need Tenants Insurance or Condo Insurance?

Condo and tenant insurance keeps you protected against the worst-case scenarios. As a tenant or condo unit owner, you will be responsible if your actions are deemed to have caused damage to:

• Your apartment or condo
• Your neighbours' apartments
• The apartment building
• Any element of the property

Condominium Insurance

Your condominium corporation has insurance, so you may wonder why you need your own coverage. Here are some excellent reasons:

• Your condominium corporation's insurance policy only covers items that are part of the building. You need your own insurance to protect the upgrades (improvements) you, or prior owners of your unit, have made inside your unit such as better carpets, flooring and kitchen/bathroom upgrades etc.
• Your condominium corporation's policy will not cover your personal contents.  You need insurance for your furniture, artwork and other personal belongings. Finally, and perhaps most important of all, you need to protect yourself against personal liability for injuries to visitors to your home or for damage you accidentally cause to your neighbours' property.

Tenant Insurance

The owner of the property you're renting almost certainly has insurance on the building itself. They may also have insurance coverage for certain items inside your rental unit, such as the carpets, light fittings and appliances. So you may wonder why you need insurance coverage too. Here are two key reasons:

• Your landlord's insurance will not cover your personal belongings. Your furniture, jewellry, artwork, entertainment equipment and other valuable belongings will not be protected.
• You may not be protected against personal liability should you accidentally damage a neighbour's property or should someone be injured while visiting your home.

Rhodes & Williams is your choice for competitively priced tenants and condo insurance coverage. We've been around since 1935, and our insurance brokers will find you the best tenants insurance based on your unique needs. We offer advice and sound insurance coverage for whatever you need.

Get a Tenants or Condominium quote now, or Contact a Rhodes & Williams Insurance Broker. We'd be happy to answer any questions you may have about tenant or condo insurance. We'll work with you to find the best insurance coverage, so you can enjoy the peace of mind that comes with knowing you're completely protected.