Best-Rate Landlord Insurance in Ontario
If you’re a landlord in Ontario, it’s critical to have the right insurance policy to protect your property investment. From basement suites and rental houses, to main-level town homes and apartment rentals – Insurance Hero insures not only your building, but any detached structures, landscaping and equipment on landlord property can be included in a comprehensive and best rate plan.
Why You Need Landlord Insurance
When your property is rented out regularly to tenants, you’ll need proper liability coverage in case a tenant gets seriously injured on your property and sues you for damages. Keep in mind, personal insurance likely won’t cover damages to renters who have lived on your property for an extended amount of time. It’s also imperative to protect yourself from tenants who damage your property, or contents like furniture and appliances within the rental unit. Types of real estate insurance to consider include:
• Third party Liability Insurance: this protects you and typically covers legal fees if a tenant sues you for injury on your property, making claims such as, you didn’t maintain the rental property suitably.
• Property Damage: this kind of insurance protects your rental property when it’s damaged by fire, overflowing sinks, tubs and or pipe bursts.
• Contents Coverage: this option covers items like furniture, appliances, fixtures and carpeting damaged from insured accidents (property damage) like flooding and fires.
At Insurance Hero, we understand you can’t control when accidents happen. Making sure you have the right coverage is usually the biggest challenge to protecting your property. To explore affordable, personalized real estate insurance in Ontario and get a complimentary quote – contact a hero for more information.