Protect Your Possessions with Tenant Insurance in Halifax Nova Scotia

It’s a good idea to get a policy with contents insurance to protect your belongings, as well as liability insurance should you get into a legal battle.

Rental insurance helps cover the cost of replacing or repairing your personal belongings in the event of a fire, break-in or similar incident. Most basic policies also include liability insurance. This coverage will provide you with protection if someone is injured on your property and decides to take legal action against you. It will also protect you if you unintentionally damage a neighbouring unit.

There are instances when tenant insurance won’t cover your personal property. Damage that’s the result of a natural disaster such as a flood or earthquake, for example, wouldn’t be covered. In addition, personal belongings that are extremely valuable, such as fine art and jewellery, won’t be protected under a basic plan.

Depending on your insurance provider, you may have the option to pay your premiums monthly, biannually, quarterly or as an annual, lump-sum amount.

The average cost of rental insurance in Nova Scotia is around $200 a year. However, several factors can influence this rate, including the location of your rental, your claims history and the total value of your personal belongings.

The amount of time it takes to settle an insurance claim can vary depending on the extent of the damage and losses. In most cases, you can expect the claims process to take anywhere from a few days to a few weeks.

Most rental insurance policies automatically renew after the one-year mark. You’ll likely receive a notice with your new policy documents in the mail.

Most insurance providers require the following information to provide a quote:

• The address of the rental property
• The age of the rental property
• The names of all people living at the property
• Your occupation
• The total value of your belongings

Your claims history and previous policy information will also be needed.