RBC Insurance offers personal liability coverage up to $5 million. Increasing your deductible even further to $5,000 will reduce your quote to $29.43 per month. For example, increasing your deductible from $1,000 to $2,000 will reduce your quote to $32.04 per month. You can easily customize your quote online. The sample quote of $34.56 per month is based on the following: For example, if your laptop gets stolen while travelling, your tenant’s insurance may cover the cost! Coverage that is included in RBC's Comprehensive Tenant Insurance Policy, besides personal belongings, liability, and loss-of-use, include coverage for your personal property at other locations and property in your vehicle. RBC may require a deposit when you buy tenant insurance with them. ![]() Tenant's insurance with RBC Insurance is underwritten by Aviva, similar to their car insurance products. Plus, we'll also take a look at tips to get cheaper tenant insurance in Canada.Īs Canada’s biggest bank, RBC offers a variety of products, including tenant’s insurance. This page will also take a look at what tenant insurance covers, the different types of tenant insurance, how much tenant insurance usually costs, and comparing Canadian tenant insurance providers. This page will help you understand the basics of tenant insurance so you can make the best decision for your needs. With so many options available in Canada, it can be difficult for first-time renters and seasoned renters alike to understand what tenant insurance is. ![]() It can also give you coverage for things like temporary accommodations if your rental unit becomes uninhabitable due to a fire, flood, or other disaster. Even though it can be an additional cost on top of your rent, tenant insurance is relatively affordable, especially when you consider the peace of mind it can provide. That would be covered by landlord insurance, and it would be paid for by your landlord. It is important to note that tenant insurance does not cover the actual structure of the rental property. Most tenant insurance policies usually cover up to $1 million in Canada, however, you can purchase additional add-ons to your policy to extend your coverage. Tenant insurance, also called renter’s insurance or contents insurance, is designed to protect tenants and renters in case of damage to their belongings or personal liability for damages. Hollard is a signatory to the General Insurance Code of Practice, for more information on the code visit if you don't own the property you are renting, there is always a risk that something could happen to your belongings or that you could be held liable for damages or injuries. ![]() You should also read the Premium, Excess and Discount Guide (PEDG), Key Facts Sheets (KFS), and Financial Services Guide (FSG) by clicking on the links, or by callfor a paper copy. A Product Disclosure Statement (PDS) is available at all Commonwealth Bank branches, by downloading them from or by calland should be considered before making any decisions about this product. You should, before acting on this, consider the appropriateness of the product to your circumstances. This information has been prepared without considering your objectives, financial situation or needs. If you purchase a Home Insurance policy, CBA is paid a commission which is a percentage of your premium.įor products issued by Hollard, information about the target market can be found within the product’s Target Market Determination available here. CBA and its related entities do not sell, issue or guarantee the obligations or performance of Hollard or the products Hollard offers and this insurance product does not represent a deposit with or liability of either CBA or any of its related bodies corporate. ![]() Home Insurance is provided and issued by Hollard Insurance Partners Limited ABN 96 067 524 216, AFSL 235030 (Hollard) and distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (CBA). 1 Cover for damage caused by storm, bushfire or flood is excluded for the first 48 hours of the policy (exceptions apply). Claim limits and other exclusions apply.Ģ Gap Cover does not apply to Portable Contents Cover, Items with a maximum claim limit and Legal Liability.
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