Discussions

many people don't realize that they need insurance for their personal belongings when renting.  
 
Be prudent though and don't become insurance poor. Paying too much that covers way more than you have. When something does happen you have to list everything you had and value it, etc, etc.  
 
They just don't right a cheque in the amount you insured for.  
 
Be prudent, Be cautious, and Be insured.

I would have to disagree. Most people know that need content insurance they just either don't have the money or choose to roll the dice and hope they don't ever need it.

Renters that don’t have tenant insurance are choosing the consequences if anything is to happen. I agree with the previous post that it is not a priority and they’re hoping they’ll never need it.  
 
I shake my head when people say they can’t afford renters insurance for an apartment. It usually ranges from $10-16/ month. If you can’t afford that then it’s because you’re making poor financial decisions. Instead of buying a coffee everyday or eating out, having the latest phone or buying things you want and not need... use that money for long term gain.  
 
In the future as well, you can use the history of having tenants insurance to your advantage if you ever buy a house or get insurance for something else. As well the longer you have insurance that you don’t use means you will get discounts such as the claims free discount. It is highly worth it in my opinion for the low amount it costs.

yes it is very cheap to get tenant insurance. The last place I was renting recommended it and was noted in the lease that tenant insurance is highly recommended. I was paying about $230 a year through MPI and my was pretty comprehensive.  
 
Very cheap IMO.

Getty said "yes it is very cheap to get tenant insurance. The last place I was renting recommended it and was noted in the lease that tenant insurance is highly recommended. I was paying about $230 a year through MPI and my was pretty comprehensive.     Very cheap IMO. "

You probably got your policy at a brokerage that also sells Autopac. MPI doesn't provide tenants insurance.

Shebear said "So who sells the cheapest insurance? To cover fire, water, natural stuff (like leaking roof from a storm when on third floor), break n enter, or whatever else lol Can you include photos and treasured things from lossed loved ones? "

Well go to a broker and ask. They will give you a few options and prices with different insurance companies. Just remember, like anything you usually get what you pay for. If you are going for the cheapest policy just make sure you actually read the policy and make sure you are aware of what is and isn't i:ncluded. Ask questions if you are unsure

We are insured for $25,000 and it's less than $ 20 month..well worth it..we spend that on a trip to McDonald ...Not worth the risk..buy it and you dont need to worry..go around your apartment and snap pictures..keeps you safe....

wpggirlfrombdn said "    Getty said "yes it is very cheap to get tenant insurance. The last place I was renting recommended it and was noted in the lease that tenant insurance is highly recommended. I was paying about $230 a year through MPI and my was pretty comprehensive.     Very cheap IMO. " You probably got your policy at a brokerage that also sells Autopac. MPI doesn't provide tenants insurance. "

yes at western financial. Most people don't understand getting a policy at a brokerage.

I purchased tenants insurance through Ficek's and am paying around $14 a month for $30,000 contents coverage plus a million third party liability. People are quick to forget about the liability, but if someone trips on your steps or is injured in your apartment, a lawsuit can add up quickly. Definitely feels worth it for the cost of eating out once a month.

while i agree renting without renters insurance is taking your chances but you do have to be prudent as mentioned  
 
when a broke person(or anyone) is doing their finances it is all about choices and risks the thing is that $230 a year can buy a lot of used stuff at yard sales or MCC ect plus quite frankly many many people have old coffee tables ect that are willing to let go easy and that is what the insurance would be replacing so when $20 a month can mean at least one trip to Mcds which is a treat for them, or if they skip that a week of cheap meals then risk reward says that forgoing insurance is a good bet, after all insurance has to win most bets in order for them to make money  
 
Now the more expensive the stuff you have the more likley you are to care and lose a lot of your gains if you risk not buying insurance so at some point it is worth the cost but it honestly isnt for everyone  
 
now with my opinions i also do believe that it is your choice to take that bet and if you lose then you should face the consequences, not saying we cant be kind to people but at the same time choices do have consequences and thats life

Go to Guild! They will help you out.  
 
https://www.guildhmsinsurance.ca

I recommend Dick Agencies to my tenants. They shop all the companies and find the best coverage and rates for you, plus they are so down to earth and friendly in there.

tenancy that you carry your own liability and content.  
 
ask your self what happens if through your fault you cause a fire or flood ya gotta wonder if the landlords insurance company might come after the person that caused it. or other tenants in the building that are now out of house and property.  
 
if you are living on the cheap then you likley do not have 30,000 worth of goods to cover so insurance will be cheaper, literally less than a dollar per day.  
 
Dick agencies, Guild insurance, ficek insurance, CAA, cooperators, they all sell products issued by, Wawanesa, Red river, intact, etc.

This link http://www.cbc.ca/news/canada/manitoba/ste-anne-apartment-fire-cigarette-lawsuit-1.4462825 describes how the tenants were found responsible for buring the whole complex down and were ordered to pay over $800,000. If they had insurance they probably would have been covered.

I personally think it should be mandatory for all tenants and business is to have insurance or tenants insurance no matter how big or small. You can’t own a house without insurance so why should you be able to live in an apartment and have faith in 20 to 30 other people not to burn down the place just my opinion.

As long as you don’t have a mortgage you can own a house and not have house insurance.