If Someone Gets Hurt in My Rental Unit, Am I Covered?

"We are here for you. Able Elite Team is a leading insurance brokerage in Toronto. Contact our renters’ insurance experts here for a free consultation."

A standard renters insurance policy typically has wide enough scope to cover injuries to third parties sustained while they are in your rented dwelling. The coverage includes all associated medical costs. The policy does not consider who is at fault for the injury.

Besides covering the injured party’s medical costs, your renter’s insurance policy’s liability coverage will also take care of your defense costs should the matter need legal resolution.

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Renters Insurance Covers The Tenant, Not The Rental Property

It is important to note that a renter’s insurance policy protects the insured, which in this case is the renter or tenant, and not the property itself. In the same vein, the insurer’s duty in a contract of insurance is to defend the policyholder.

When you look at it, it is in your insurer’s best interests to make sure you get the best legal representation. Because if any liability case brought against you is poorly defended and a hefty settlement is granted against you, the bill would come to the insurer.

However, it is important to remember that liability coverage under a renter’s insurance policy only applies to people who do not reside on the rental property. It also does not cover injuries to people insured under the policy.

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Why Every Tenant Needs Renter’s Liability Coverage

In a world that’s become so highly litigious, you must protect yourself with renters insurance. A small mishap during a happy event you are hosting at your rented property can result in a legal suit that can force an unexpected financial burden on you.

Other than that, the policy will also protect your personal belongings, reassuring you that you will not suffer a total loss in the event of theft, vandalism, or fire at your rented dwelling. Besides this peace of mind, residential property owners may also refuse to let you their properties if you don’t produce proof that you carry liability coverage.

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Ready to protect your property and financial security with a renter’s insurance policy?

We are here for you. Able Elite Team is a leading insurance brokerage in Toronto. Contact our renters’ insurance experts here for a free consultation.

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