Reasons to Buy Renters Insurance

April 21, 2024

Picture this: you have run into the apartment that meets all your demands - it is sun-filled, spacious, and sits aptly in amazingly very satisfactory for you that you never imagined. Adjusting becomes so much easier as upon your arrival you start to unpack your belongings and begin to transform the space into your own home. However, consider a circumstance where the fire becomes raging or the pipe bursts and floods all the belongings. What if, for example, a guest slipped and hurt himself inside your apartment? Such events, however unbelievable, can happen to anyone at any time, and these are the main Reasons to Buy Renters Insurance. 

Here comes the Summit Cover's renters insurance at reasonable pricing – which is just your safety net that protects everything from your assets to your finances and your peace of mind. 

Does Renters Insurance Matter in Canada?

Unlike auto insurance, renters insurance is not legally required in the Canadian context. Contrarily, the majority of the landlords insist on this condition as a term of the tenancy. This requirement makes perfect sense here – it will protect the landlord not only his building but also your things.

Is Renters Insurance Worth It? - Your landlord may not be forcing you to get one but it would be wiser for you to consider having one. Here's why:

But before that also read about: Rental Property Insurance in Canada!

Peace of Mind: Preventing Theft Of Property

Probably, you could already possess several belongings of any kind - furniture, machines, clothes, and so on. However, rebuilding your life immediately after either the fire, theft or vandalism could be so costly, and could translate into thousands of dollars.

Summit Cover's renters insurance furnishes coverage for your personal property against various hazards, including:

  • Fires and Smoke destruction
  • Theft
  • Vandalism
  • Water damage
  • Weather-related incidents

The policy covers you up to the full amount of the replacement of your belongings either in actual net cost (ACV) or even replacement cost value (RCV) depending on the coverage choice you opted for.

You are not sure whether the plan should give partial or full coverage of contraceptives? Our friendly advisors at Summit Insurance will do that with you analyze your needs and craft your policy in a way that is tailored to your and your valuable's well-being.


Renters insurance in Canada is rather inexpensive as you will find yourself spending less than the equivalent of a cup of coffee. For such a tiny budget you get truly impressive financial productivity.

Avoid Liability: Personal Liability Weighting

Accidents do happen – your guest slips and falls in your place or your pet accidentally knocks over the neighbour’s priced vase. For this particular case, you can be held accountable for the medical expenses also property damages. Summit Cover's renter's insurance encompasses personal liability coverage, which can:

  • Pay medical bills for the others hurt during your current apartment.
  • The finance to cover the expenses for repairs caused by your neglect.
  • Deliver legal counselling if you're being sued after an accident that happened in your rental facility.

This can save you a lot of money and a nerve-wracking period of negotiations and procedures.

Your Possessions Are Safeguarded While Moving

Most policies of renters insurance including Summit Cover extend coverage to belongings even when travelers are outside of the house. Consequently, these give you a safe place for your valuables to keep them from theft or damage during your travel in case they were stolen from your vehicle or misplaced during the travel.

Assurance During Emergencies: Additional Expenses on Accommodation 

If you were in a situation where a fire engulfed your apartment to the point of disrepair, what would be your plan? When undergoing repair, you'll certainly need a temporary place to stay. Renters insurance plays a key role in ending this stress as it can cover additional living expenses which may include hotel rentals or short-term rentals until you can move back home. This means you will have a place that is safe for you as your house is being repaired so you can relax and be calm even if it is not the best time.

Coverage for Roommates

If you are living with roommates, be encouraged that you all can be covered by the inhabitants of the same renters insurance. Summit Cover's plans are adaptable so that you do not have to live in a shared house alone. Also, your stuff, property and liabilities will be taken care of.

Read more: Commercial General Liability Insurance!

Why Choose Summit Cover?

The process of choosing the best renters insurance provider should be the primary concern. At Summit Cover, we give priority to the high coverage at modest prices. Here's why we stand out:

  • Tailored Plans: We recognize that each renter's needs vary. Our customizable plans enable you to select coverage limits and deductibles that align with your budget and possessions.
  • Efficient Claims Process: Disaster is hard to cope with. Therefore, we go for a quick and effective claims procedure. Our team, specialized in every step to provide you with assistance during all stages of the process.
  • Superior Customer Service: Outstanding customer service is the secret ingredient of ours. Our experienced customer service advisors are waiting to tackle your queries and show you the easiest path through the journey of insurance.

Ready to Begin? Obtain Your Free Quote Today!

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