Protect Your Belongings
All of the stuff you’ve accumulated over the years will add up to more than you think. And it goes beyond furnishings. Factor in the cost to replace your clothing, electronics, bicycles, jewellery, and all the other valuables in your home and it quickly adds up.
That’s why it’s essential that you choose the value of your contents wisely, and that you have the right insurance in place to cover the cost of replacing it all. Renters insurance policies will also have limits on certain articles. So if you bought that high-end bike, be sure to select options for insuring to a higher value.
Liability Coverage at Home and Away
One of the most important features of Renters Insurance is the liability coverage that follows you whether you’re home or away. Should an accident occur in your home that causes damage to your complete apartment block the repairs will be covered. It will also cover you should you cause damage to another person or to other premises while you’re away from home.
Improvements to Your Space
Renters Insurance protects everything that is inside your four walls, including any permanent upgrades you may have made. This includes built-in sound systems, shelving and closet organizers; anything that has added value to your space will be important to consider when setting your insurance limits.
If your space is not able to be occupied because of damage, living expenses will cover the cost of alternative living arrangements, even the cost of meals while you’re out of your home.
How Much Does Renters Insurance Cost?
Renters insurance policies cost from $20 per month, or $240 per year, for $30,000 to $100,000 of contents coverage and $1 million to $2 million of liability coverage. That’s a pretty small investment for a big return. Learn more about the cost of renters insurance or check out our The Real Cost of Renters Insurance Infographic.
Where Can I Buy Renters Insurance from MIG?
In our quest to find a better way for Western Canadians to purchase insurance, we have developed more options for customers to connect with us. Part of this journey has included building platforms and communications that make it easy to connect with us in the way that makes the most sense for you. And by doing so, we can now offer our buyer friendly way of doing business to customers across Manitoba, Saskatchewan and Alberta. We make it easy to purchase some products online, as well as connect with our team of insurance professionals when you need us. Online, on the phone, even via Millie, our new chat bot!