Do you have a child going off to university? Your university student’s most prized gear—laptop, iPhone and other electronic devices—are also most prized by thieves.

There are many misconceptions about tenant’s insurance including lack of personal items and the value of purchasing insurance. To help mitigate your loss, we thought we’d highlight a couple of myths.

 I don’t have enough stuff to get tenant insurance. 

Things add up fast! Your electronics, appliances, clothes and even food are all large expenses that can be protected under your policy. 

My landlord’s insurance will cover the damages to my belongings. 

Typically, a landlord’s insurance policy only covers the physical building, not anything that’s within your walls or another tenant’s. 

Personal belongings are the only things covered under tenant insurance. 

Tenant insurance can also cover damage to someone’s property within your home. And, depending on the limits of your liability coverage, it can cover some or all of the medical expenses if someone happens to get injured on your property or you have a kitchen fire and your landlord sues you. 

I can’t afford tenant insurance. 

Tenant insurance can be incredibly affordable. Although pricing can always vary, some policies can cost as little as the equivalent to a couple of cups of coffee at your favourite cafe. 

Don’t wait until it’s too late to start thinking about tenant insurance. 

We spend a lot of time and energy filling our living spaces with items that make it feel like home—it only takes one unexpected event to have it all stripped away. With tenant insurance, you can sleep a little sounder knowing that you and all of your belongings are covered. 

To help you protect your student’s belongings while he or she is away at school, contact Schill Insurance Brokers Ltd to learn more about our homeowners or renters insurance coverage basics and how they can help to protect you.