Tenant Insurance – Prince Edward Island
Are you moving to your very first apartment in Charlottetown for university? Brand new to Summerside and renting a townhome? Planning to downsize and retire along the coastline? Although you don’t own the property you’re now calling home, you have some of the same insurance needs as a homeowner. Rest easy knowing that whether you’re renting an apartment, townhome, or a suite in a high-rise building, we’ll help you get the right tenant coverage in Prince Edward Island.
We understand it’s vital to protect what’s most important to you and your family. Our expert insurance advisors are here to ensure you’re protected and provide peace of mind so you can focus on what’s important in your life.
Why Choose Westland?
We know that your insurance needs to match your goals, your lifestyle and your budget. Our expert tenant insurance advisors get to know you, so that they can tailor a policy to your exact needs.
We’ll find the best coverage for you at the right price so that you can continue to live your life the way you want to.
Insurance can be complex sometimes. Let our expert insurance advisors do the heavy lifting! We’ll help you find a policy that you feel is the best fit and provides peace of mind. To learn more about the benefits of being a Westland client, Click here.
How Much Does Tenant Insurance Cost in Prince Edward Island?
Tenants insurance is a small investment considering the return. In most cases, it can be the same price as eating one meal out per month. Some factors that contribute to the premium cost include your location, the limits of insurance selected, and choice of deductible.
Tenant Insurance Explained
Did you know that as a renter, your landlord’s home insurance won’t cover your belongings in the event of a fire, theft, or damage?
You’re also responsible for any damage that you cause to your building and for any accidental injuries incurred by someone while visiting the property.
Think about all the things you own, mainly how many boxes it would take to move all your belongings. Throughout the years, that can quickly accumulate. This goes beyond furniture, including electronics, clothing, jewellery, sporting equipment, and other valuables.
Renters need to have the right insurance to cover the expense of replacing their belongings if something happens. Keep in mind, most tenants’ policies have a limit on certain items. For example, if you are into mountain biking and have a high-end bike with accessories, you’ll want to ensure that you select a higher limit to reflect the actual value.
Did you get the go-ahead from your landlord to upgrade an aspect of your space? Tenants insurance covers everything that’s inside the walls of your area, including permanent upgrades. So that built-in stereo sound system or walk-in closet shelving system adds value to your space and is essential to consider when choosing your insurance limits.
Another critical aspect of tenant insurance is liability coverage, both for in your home and while you’re away. If an accident occurs and you cause damage to not only your unit but also the rest of the apartment building, you’re covered. For example, If you left something in the oven which led to a fire, you would be responsible for damages caused to any part of the building or apartment complex that you reside in. The same will apply if you are outside of your home and accidentally cause damage to another person or their property.
If something happens to your space and you aren’t able to stay there, your tenant policy will cover the cost of alternative living arrangements. It will also cover the cost of meals while you’re out of your home. Having something happen to your home can be extremely stressful. With tenant’s insurance, it can take away some of that stress to help you get to a sense of normalcy.
Review Your Insurance and Get a Quote with Westland
Ready to discuss your insurance needs? Our expert advisors are here to review your current insurance policies, discuss your unique needs, and find the perfect tenant insurance policy for you. Whether it’s over email, the phone or in person we are ready to help! To get started on a quote now and see price estimates for your tenant coverage, click the button below. Our advisors will contact you right away and help navigate your risk management needs. Of course, we are always available to talk over the phone or in person. Check out our locations page to connect with an office closest to you!
Optional Protection Available to Enhance Your Coverage
Based on your lifestyle and where you’re located, there may be additional coverages available to you, such as:
- Identity Theft
- Home Based Business
- Watercraft
- Overland Water
- Sewer Backup
- Claim Protector
- Home Equipment Breakdown
Claims Example
Water damage is the most common claim we see when it comes to tenants. For example, a pipe can burst in the ceiling in the unit that you rent and cause damage to your contents. Depending on the value and quantity of your property, this can cause damages of around $5,000. The right tenant insurance policy will help mitigate these risks and get you back to your normal as quickly as possible.
Our goal is to find the best coverage for you so that you can continue to live your life the way you want to. To learn more about being a Westland client, click here.
10 Fun Facts About Prince Edward Island
- Although an island, there is no place on PEI where you’re more than 16 kilometers from the ocean.
- PEI is home to Anne of Green Gables and you can actually visit the house that inspired the book which is near Cavendish Beach.
- Potatoes are a large part of Prince Edward Island as agriculture is the largest industry. In 2020, $518 million worth of fresh or processed potatoes were exported.
- The famous red soil that can be found in PEI comes from the high iron content which oxidizes when exposed to oxygen in the air.
- Tourism is a large part of Prince Edward Island, with over one million visitors to the province each year.
- If you’re a fan of golf, PEI is the place for you. With over 33 courses across the island there is sure to be many water hazards to watch out for!
- Fishing is one of the top industries for PEI. Tuna, cod, lobsters, clams, mackerel, mussels and scallops are all sourced from the PEI fishing industry.
- As a coastal province, PEI sees it’s fair share of wind. However, wind power generates around 15% of the electricity used.
- The Mi’kmaq First Nations (Micmac) were the first inhabitants of Prince Edward Island. It was named Epekwitk which means “cradled on the waves”.
- The capital of PEI, Charlottetown, was named after Queen Charlotte who was the wife of King George the third.
We’re Here to Help
Whether you’re looking for insurance for your first home or wanting to discuss your existing policy, our team is ready to help. Connect with us today.
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