Edmonton Tenant Insurance: Find Lowest Rates

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Save on renters and tenant insurance in Edmonton

If you rent, it’s important you protect yourself and your belongings with tenant insurance in Edmonton. However, only about half of tenants have insurance. Are you one of them? Without tenant insurance in Edmonton, you leave yourself exposed to financial loss and liability. All it takes is a fire, flood, weather damage, or break-in and you could find yourself in a dire situation. Renters insurance ensures you are protected.

ThinkInsure will help you compare quotes for tenant insurance in Edmonton from the top insurance companies in Canada. Renters can quickly find the lowest rates and best coverage. Get started by comparing quotes online or give us a call and an advisor will be happy to help you. Keep reading to learn more about getting tenant insurance in Edmonton.

How to get tenant insurance in Edmonton

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How does Edmonton tenant insurance work?

Tenant insurance in Edmonton works like tenant insurance in Alberta. You are provided with financial protection in exchange for you paying premiums. Regulations are set at the provincial level under the Insurance Act. The Alberta Superintendent of Insurance (SOI) oversees insurance matters.

In terms of coverage, tenant insurance is similar to home insurance in Edmonton. But, it's more focused on your personal belongings. It does not protect the physical structure of the building. This is part of landlord insurance.

Standard policies include $25,000 for contents insurance and $1 million in personal liability. But you do have the choice to increase your limits to meet your individual needs.

What does tenant insurance cover in Edmonton?

Tenant insurance offers renters in Edmonton three main forms of protection:

Personal contents: Get compensation for any belongings that were stolen or damaged. This includes your clothing, electronics, furniture, décor, toys, computers, and other belongings.
Tenant liability coverage: This helps cover the cost of a lawsuit and legal fees if a third party is injured on your property or you unintentionally cause damage to a third party.
Additional living/relocation expenses: Additional living expenses kick in if the rental is not in a liveable condition, you will get compensation to cover temporary accommodations. Or, if your unit is permanently uninhabitable, you will get reimbursed for relocation costs to move to another place.

What is not covered by renters insurance in Edmonton?

Renters coverage is meant to provide you with protection that is not offered under a property owner’s plan. But it doesn’t cover you for everything. You are subject to plan limits. It will also not cover you for high-ticket items such as expensive jewellery, art, collectibles, and other items specifically excluded from your policy. You can take out more coverage to get protection for these items through insurance endorsements (riders).

For example, you can add a jewellery insurance floater. Or you can get identity theft insurance by adding it to your plan.

Certain perils are not covered. You typically are not covered for damage from overland flooding, earthquakes, and landslides. But you may be able to add an endorsement to get this protection. Damage from pests or deliberate damage is not covered. Speak with your insurance advisor to get clarity about what is and is not included in your plan.

Is tenant insurance legally required in Edmonton?

No. Tenant insurance is not mandatory in Edmonton. You do not require insurance to be able to rent. However, property owners do have the right to require you to have a policy as part of a lease agreement. So, even though it’s not mandatory, you will still need to get insurance to rent in many instances.

How much does renters insurance cost in Edmonton?

The average tenant insurance in Edmonton is between $250 and $600 per year. This works out to about $20 - $50 per month. How much you pay will largely depend on the overall value of your contents and your plan limits.

Location matters as well. Calgary tenant insurance could differ from what you pay in Edmonton, even if the apartment, personal items, and coverage were the same.

Top things that affect Edmonton tenant insurance premiums

There are a variety of factors that can affect how much you pay for your plan:

Plan choice (basic or comprehensive)
Policy limits
Deductible amount
Property location
Property type (house, condo, apartment, townhouse)
Endorsements for high-value items
Your insurance history
Safety and security features
If your plan is part of an insurance bundle with car insurance in Edmonton.

5 star renters insurance in Edmonton

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Check out what our customers in Edmonton are saying about getting tenant insurance with us.

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Kevin St Clair

2024-11-28

Betsy was a genuine pleasure to deal with considering the circumstances. Thanks again for all your help

Anthony Gomez

2024-11-27

Today, I want to take a moment to recognize Monica Chan, an exceptional insurance broker who has consistently gone above and beyond in her service to me. Monica's dedication to punctuality and consideration has been truly remarkable. She has always been prompt in responding to my inquiries and has never hesitated to offer her expertise and guidance. With Monica as my broker, I have never once felt worried about anything going wrong. Her proactive approach and attention to detail have provided me with peace of mind, knowing that my insurance needs are well-taken care of. Throughout our interactions, Monica has been incredibly helpful, patiently explaining complex insurance concepts and ensuring that I fully understand my coverage options. I wholeheartedly recommend Monica Chan to anyone seeking an insurance broker who genuinely cares about their clients' best interests. Her commitment to excellence and her willingness to go the extra mile make her an invaluable asset in the insurance industry.

Phyllis Baker

2024-11-20

Absolutely amazing service the broker Todd worked on my quote fast I recommend this company to anyone very professional I’m so glad I called them .. Thank you for your great work

Charles Cameron

2024-11-15

Betsy Bannon has been nothing short of amazing at helping us through the complex process of acquiring business insurance. She quickly understood our needs and expertly guided us to the right solution. From start to finish, she made us feel like her most important client which gave us the confidence that we were in great hands. We highly recommend Betsy!

Jermaine M

2024-11-05

I had a great experience with Patrick Vuong. He went above and beyond to help me update last minute changes to my policy in order to qualify for a government grant. Staying back late and coming in early the next day to help finishes the changes. Very kind and professional!

Mark Gaffney

2024-11-05

Betsy Bannon is a professional extremely friendly and knowledgeable and made my experience wonderful! Highly recommend her for any insurance needs. Mark Gaffney

fabian ward

2024-11-04

Great service! Prompt and very helpful! Thanks to Todd allan for really helping me out!

Stephen Mcfadden

2024-11-01

Great experience working with Sohel Rahman, appreciate his honest and can-do attitude. Highly recommend!

Ways to get cheap tenant insurance in Edmonton

There are many things you can do to get cheap tenant insurance in Edmonton.

Use an insurance broker in Edmonton to comparison shop
Explore your options at renewal time
Take advantage of discounts
Don’t over-insure
Combine your tenant plan in an insurance bundle
Pay annually
Stay claims-free

Why do tenants need contents and tenant liability insurance in Edmonton?

There are a lot of reasons why you should have tenant insurance in Edmonton. Here are some of the main advantages of this type of insurance:

It’s a requirement by most property owners: Many landlords require you to have coverage to rent from them.
Property owner plans won’t cover you: Your personal belongings are not covered by your landlord’s insurance.
Financial protection: You will have financial compensation if your personal items are stolen or damaged because of a fire, flood, or break-in.
Legal protection: You will have access to legal help if you are accused of a libellous act.
Peace of mind: You can rest your mind knowing you are protected.

Edmonton tenant insurance FAQs

How long does it take to get tenant insurance in Edmonton?

It only takes a couple of minutes to get a quote for tenant insurance and get insured in Edmonton. Once you complete the application you should have no problem getting insurance for the date you need it. Or you can get coverage over the phone. Simply give us a call to start an application.

Are my roommates covered under my Edmonton tenant insurance?

If you have a roommate in Edmonton they will be covered under your tenant insurance plan if they are listed on the policy. If they are not listed your insurer could deny claims for their personal belongings. If you do not wish to have your roommate on your insurance, they can get a separate plan to cover their belongings.

How can I renew my Edmonton tenant insurance?

Your renters insurance in Edmonton will automatically renew each year on your renewal date. You will receive correspondence from your insurer that your policy is up for renewal. You can choose to let it continue. However, you can also use this as an opportunity to compare quotes and see what other insurance companies have to offer. At this point, you can switch providers if you find a lower price.

What information do I need to get an Edmonton tenant insurance quote?

Getting a quote for tenant insurance in Edmonton is a quick and painless process. You should have your personal information, your address, the names of all parties you want to insure, and an estimated value of your contents. Your insurer may require additional information. Have this information handy when you start an online tenant insurance quote.

Are 6-month tenant insurance policies available in Edmonton?

No. Insurers in Alberta and Edmonton do not commonly offer tenant insurance policies that are less than one year in length. Even if you get a one-year plan, you can still make amendments, transfer it to a new address, or cancel (fees apply).

Edmonton rental market statistics

The rental market in Edmonton is similar to Calgary. Here’s an overview from the Canadian Rental Housing Index:

There are 142,970 rental units.
The average monthly rent and utilities is $1,304 ($28 less than the Alberta average).
36% of Emontonians spend over 30% of their income on rent/utilities. 13% spend over 50% of their income.
11% live in overcrowded living conditions.
6% live in homes in major need of repairs.
The majority of renters are non-family households (74,855).
The 30-44 is the most popular age group among renters (50,645).

Saving on Edmonton tenant insurance is easy!

Ready to compare Edmonton renters insurance options? Is it time to renew? With ThinkInsure, you can compare tenant insurance quotes online from the top insurance companies in Canada. You will find cheap rates in just a few minutes of your time. You can save even more by talking with one of our insurance advisors over the phone.

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Edmonton Tenant Insurance

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