As a tenant, you still have possessions such as clothing, electronics, and furniture that can be damaged or destroyed by fire or water. Your possessions can be protected with tenant insurance.
If you occupy a residence that you do not own (e.g., living in an apartment, a basement suite, a condominium) you are considered a tenant of that property. The building in which you reside would be insured by your landlord. However, personal property such as your furniture, computer, stereo, clothing, etc., would require a separate insurance policy to protect it from perils such as fire and theft.
- protect your possessions such clothing and electronics
- may be a requirement of your landlord
- the cost of replacing your possessions can easily add up
- offers liability coverage in case of damage to the building
- protection in the event of personal injury