Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is reminding post-secondary students who are renting this fall to consider tenant insurance.
“Tenant insurance is one of those things where it’s really better to be safe than sorry,” FCAA Insurance and Real Estate Division Director Ian McIntosh said.
“In a lot of ways it protects your peace of mind as much as it protects your property and your bank account.”
Tenant insurance may provide coverage for:
- Personal property damaged or lost due to fire, water damage, vandalism, theft or other unforeseen circumstances;
- Personal liability for injuries guests suffer in your rental;
- Damage to the rental or surrounding properties; and
- Living expenses if you temporarily need to find another place to live due to repairs, fire, or other circumstances.
Your insurance provider will be able to assist you in selecting the coverage that best meets your needs. Coverage and exceptions to coverage will vary between different insurance providers and policies. Before buying a policy, read it carefully and make sure you know exactly what it does and does not cover.