Name: Lakeview Insurance
Address: Calgary, AB
Telephone: 403-287-2521

As a renter, you may assume that your landlord’s insurance will cover any damages or losses to your personal property. However, this is not always the case. That’s why it’s important to consider purchasing rental insurance, also known as tenant insurance. Here are some reasons why rental insurance is worth it, with a focus on home insurance in Calgary.

1. Protect Your Personal Property

One of the main benefits of rental insurance is that it protects your personal property. This includes items such as furniture, electronics, and clothing. If your personal property is damaged or stolen due to a covered event, such as a fire or theft, your rental insurance will help cover the cost of replacing these items. This can provide peace of mind knowing that your personal belongings are protected.

2. Liability Coverage

Another important aspect of rental insurance is liability coverage. If someone is injured while visiting your rental property, you may be held liable for any damages or medical expenses. Rental insurance can help protect you in the event of a lawsuit or liability claim. This can help cover the cost of legal fees, settlements, or judgments.

3. Additional Living Expenses

If your rental property becomes uninhabitable due to a covered event, such as a fire or flood, rental insurance can help cover additional living expenses. This may include the cost of a hotel, food, and other necessities while you are temporarily displaced from your rental property. This can provide valuable financial assistance during a difficult time.

4. Affordable Premiums

Despite the numerous benefits of rental insurance, it is often quite affordable. Premiums for rental insurance typically cost only a few hundred dollars per year, depending on the coverage limits and deductible you choose. This makes it a cost-effective way to protect your personal property and provide additional liability coverage.

5. Required by Landlords

In some cases, landlords may require tenants to purchase rental insurance as a condition of their lease agreement. This is becoming increasingly common in Calgary, as landlords recognize the importance of protecting their tenants and their own property. By purchasing rental insurance, you can ensure that you are meeting your landlord’s requirements and protecting your personal property at the same time.

In conclusion, rental insurance is worth the investment for renters who want to protect their personal property and provide additional liability coverage. With its affordable premiums, required coverage in some cases, and additional benefits such as coverage for additional living expenses, rental insurance is a smart choice for any renter. Be sure to consider home insurance in Calgary for all your rental insurance needs.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

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The wide variety of insurance types is fantastic. Giving people the opportunity to protect themselves and the things they value is an integral part of the insurance industry. For example, home insurance in Calgary and auto insurance provide coverage for the biggest expenses people typically assume.

Thankfully, there are also types of insurance for smaller expenses. One of these is tenant insurance or renter’s insurance. Tenant insurance is a form of insurance that people who rent or have alternative living arrangements can purchase to protect their personal property. However, not all tenant insurance is made equal, and knowing the differences can be essential to your choice.

The Different Types of Tenant Insurance

Typically, the differences between insurance policies boil down to types of coverage. For example, consider your home insurance in Calgary. Every basic package includes the same coverage, but you can optionally pay more for added protection. Examples of additions would consist of fire and flood insurance, theft, accidental damage, and many more.

Ultimately, the same logic applies to tenant’s insurance. The primary coverage will take care of any issues with your own property at your lodging. This coverage will protect from damage, theft, and loss of property. Additionally, your tenant insurance will cover any damage you cause to other’s property or belongings. Typically, you can label this coverage as “liability” and “contents”.

Happy family couple renters tenants handshaking realtor landlord at meeting

However, there are also additional benefits that relate to tenant’s insurance. Easily the best example of this is temporary living expenses. This coverage is ideal when there are periods where you cannot reside in your home as they cover the costs for your temporary domicile. Naturally, your policy may have differing options, but typically this will include issues of fumigation, natural damage, fires, and more.

Another benefit of tenant insurance is the coverage it can provide for your valuables. Although there is a relevant stipulation to make at this point. This stipulation is that you should create an inventory of your valuables. Of course, it follows that the most pertinent information for an insurance claim is what exactly you are claiming.

Plus, there is no better time to start the list than right now. You will accrue more belongings as time goes on, and adding to the list is much simpler than the initial inventory. As well, if you are keen on ensuring your insurance company stays in the loop, feel free to send them a copy of the list. Then, if there is a claim, you will both be working under the same assumption about the estimated value of your belongings.

Find Your Tenant Insurance Broker Today

If you are looking for tenant insurance or any other form of insurance, give us a call today. Our professional staff looks forward to getting you the best coverage possible, and we love to share helpful tips and information!

Due to recent changes in Alberta, renters insurance is a much more common term than it has been in the past. This is because more and more landlords are requiring it because of the requirements placed upon them by the provincial government.

However, it should be noted that renters insurance is actually a very beneficial service. It provides peace of mind and comfort for those tenants who worry about their belongings or about the likelihood of an incident occurring in their dwelling. Plus, it gives landlords a similar comfort in that it allows them to ensure their tenants are upstanding and can care for their property sufficiently.

Separate from home insurance in Calgary, renters insurance is specifically designed for people who are in a rental agreement for their lodgings. However, like all insurance contracts, the details can be a bit difficult to understand. Therefore, there is helpful information available for you to review below:

What’s Included in Renters Insurance

One of the more obvious inclusions to your renters insurance is the protection of your personal property against theft or damage. This will often extend to areas on the same property such as additional storage in your underground parking area, or a separate garage or shed. It can also include personal belongings that are currently in-transit or being moved between countries, depending on your specific insurance plan.

As well, another common part of renters insurance programs is personal liability coverage. This is used in the event someone is hurt while at your home, or you unintentionally injure someone or their property. This is especially helpful for your peace of mind and is also often included in home insurance in Calgary coverage plans.

The third benefit of renters insurance is coverage for additional living expenses. This could include things like a hotel if your home is being renovated or repaired. It could also cover items that are stored while a child is away for schooling and many other circumstances.

Find the Right Insurance Broker

Finding the right insurance company to handle your renters insurance is imperative. You should look for a company that will represent you and your assets appropriately and one that has experience in renters insurance.

Furthermore, make sure that they are willing to accurately assess your case so that you are not paying extra for services that are unnecessary or not required. This will keep your bills lower, as will proper vetting and research of the company before you sign the agreement. Remember, insurance is there to protect you and what matters most to you and should be looked at as an investment in your safety, security, and protection.

Home insurance in Calgary is important. You need to keep your home protected in case of the unexpected, and in Calgary that means snowstorms, winds, extreme heat and way more. However, the costs associated with your plan does not have to be unexpected. Instead, you can take control of your premiums by looking into these five cost-saving measures.

4 Ways To Save Money On Your Calgary Home Insurance

Save More by Bundling Your Calgary Home Insurance

You can usually reduce your premiums when you take out multiple policies with the same Calgary insurance company. This means that you use the same company for your homeowners insurance, auto insurance and more. The more policies you bundle, the more you can probably save.

You Can Reduce Premiums by Raising Your Deductible

The second way to get your premiums in check is to change the nature of your policy. In most cases, you can pay less each month when you raise your deductible. Some people like the peace of mind of a lower deductible, but it comes at a cost. If you want to save money now, look into upping your deductible instead.

Control Your Insurance Costs by Improving Your Home and Upping your Security

The next two tips to save on home insurance in Calgary are related. The more secure your home is, the less risky it is to your provider. Therefore, when you invest in certain home upgrades, you may get an insurance break. Similarly, if you install a security system, then you may be eligible for further cost reductions. Sometimes spending more on your home means you’ll be getting back more in the long-term.

Manage Your Premiums by Shopping Around

The last way to make sure your premiums are low is to shop around. There are options for a Calgary insurance company. Check out all the prices, and pick the one that works for you.

Whether you rent or own your home, it makes sense to protect your investment in case of a disaster. Insurance is the way to do just that, but you may wonder what it will cost. Keep reading to learn more about the cost of home insurance in Calgary.

Factors that Affect the Cost of Calgary Home Insurance

Many factors influence how much you’ll pay for home insurance. One of the biggest ones is the size of your home. Larger, more expensive homes cost more to insure because they are more expensive to repair. Some of the other factors include the home’s proximity to a fire station, whether or not smokers live in the house, the age of the home, and the deductible.

The Average Cost of Home Insurance

Obviously, home insurance costs vary dramatically based on many factors. However, the average cost for home insurance in Calgary is about $80 to $90 per month. Renters usually pay less for rental insurance, often between $15 and $40 per month.

Ways to Reduce the Cost of Calgary Home Insurance

You can’t skip out on home insurance, but there are ways you can help lower the cost. Insurance companies in Calgary often give discounts for things like preparing your home for extreme weather, updating your home, and installing security features. Talk with insurance companies to see what kind of discounts they offer.

Balancing Cost and Coverage with Calgary Insurance Companies

Keep in mind that finding the lowest price isn’t necessarily all you want from a home insurance policy. You want a policy that properly balances cost and coverage. Insurance companies in Calgary can help you find competitively priced coverage that meets your needs.

Now that you know more about the cost of home insurance, you’re ready to find the policy that’s best for you.

Having your home invaded is difficult and unpleasant, but it can happen to anyone. Knowing what to do helps take some of the stress out of the situation. Follow these steps from insurance companies in Calgary if you experience a break-in.

Home Insurance Tips On How To Handle A Break-IN

Do Not Confront the Burglar
If you arrive home to discover it was broken into, don’t go inside. The burglar might still be there or you could disrupt criminal evidence. Call the police immediately and wait for them to determine the scene is safe. If you’re at home when the break-in happens, find a safe location immediately, preferably one that’s outside the house. Contact the police immediately, and don’t try to confront the burglar.
File a Police Report
After the police arrive and secure the scene, it’s time to begin the police report. Determine what items were stolen and the extent of the damage. Provide the police with any information you have about the event, such as footage from an alarm system. Insurance companies in Calgary often use this information when they process claims.
Contact Your Insurance Company in Calgary
Notify your home insurance company within 24 hours of a break-in to start a claim. They can help you recover the value of the stolen items. Give the insurance company all the information they need to complete the claim.
Clean Up After the Break-In
Once the police file their report and the Calgary home insurance claim is in process, it’s time to clean up the damage. Put away any items that were strewn about, remove markings from walls, secure broken windows or doors, and do everything you can to get your home back to normal.

Use these steps after a break-in to initiate a home insurance claim and return order to your home as quickly as possible.

Some decisions shouldn’t require much thought, like deciding to buy home insurance. Preparing for the unexpected can save you a bundle if something does happen. But the fact that it’s easy to decide to get insurance doesn’t mean it’s easy to find the right policy without spending too much.

Use These Tips To Help You Save Money On Home Insurance in Calgary

Compare Calgary Insurance Companies
Shop around and see if any insurance companies in Calgary are offering discounts. Check memberships as well; sometimes being a veteran, part of a college alumni association, or other clubs and associations can get you a discount.
Improve Your Home
Upgrading your home can lower premiums as well, particularly if you’re in an older home. Ask insurance companies in Calgary if they’ll give you a lower rate if you complete home improvements that make the house safer. This usually involves a core element, like plumbing or wiring.
Understand the Difference between Actual Cash Value and Replacement Cost
Home insurance comes with a variety of options that affect the price. One big one is whether you choose a policy with actual cash value (ACV) or replacement cost. ACV is the current value of your home and property, while replacement cost is what it takes to replace your home and property. A replacement cost policy generally has higher premiums, but is a better choice for homeowners.
Agree to a Higher Deductible for Your Home Insurance
Increasing your deductible can significantly reduce premiums. Just remember that means you’ll need to pay more before insurance kicks in, so set aside the necessary funds.
Consider an Umbrella Policy from Insurance Companies
It doesn’t save money initially, but is a big benefit if you ever need home insurance in Calgary for a large claim.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].