Question 1

What isn’t covered by Montreal tenant insurance?

Accepted Answer

Damage that has come as a result of “wear and tear” or general lack of maintenance – or even extended vacancy – is generally not covered by tenant insurance in Montreal. Should you own any higher-value items, such as furs, jewelry, etc., you may want to review your limits to assess if you need a rider to include these items. Commercial-related losses are not covered by Montreal renter’s insurance. If you are self-employed or have clients over often, you may need to acquire a separate commercial policy.

Question 2

What is a “master policy?”

Accepted Answer

Your landlord or landlord corporation has insurance that covers the physical structure of the apartment and any common areas, as well as their personal liability. Anything that is not covered under the landlord’s insurance, or “master policy,” should be covered by your separate tenant insurance. In Montreal, it is essential to have a policy that protects your liability and belongings.

Question 3

Does tenant insurance in Montreal cover engagement rings?

Accepted Answer

Higher-value items that range in price from $2,000 and over may need be listed separately when you give your insurance provider an overall estimated value of everything you own. For these items to have coverage, you may need to purchase a separate floater to extend the limits of your tenant insurance in Montreal. If you acquire higher-value items after getting your policy, discuss with your tenant insurance broker in Montreal about your next steps.

Question 4

How much renter’s insurance do Montreal residents need?

Accepted Answer

It depends. If you have less wiggle-room in your budget, less coverage is more affordable but may leave you exposed. Tenant insurance in Montreal is more affordable than your average insurance policy. If you have concerns about cost or do not know how much coverage you need, discuss with a broker.

Question 5

What is the difference between actual cash value and replacement cost?

Accepted Answer

When you purchase renter’s insurance in Montreal, you may choose between two ways of being indemnified: replacement cost or actual cash value. The major difference between these two options is that replacement cost will pay for any necessary replacements without depreciation.

Question 6

What does additional living expense mean?

Accepted Answer

Some damages may prevent you from reentering your unit for a period of time. During the time it takes to do repairs or rebuild, you will need to live elsewhere. Your renter’s insurance in Montreal may coverage expenses like hotel bills, meals, and relocation costs during this time – up until a certain limit.

Question 7

What is the average tenant insurance cost in Montreal?

Accepted Answer

There is no way to put a single price tag on tenant insurance in Montreal, since everyone’s circumstances are different. However, you can see our estimated figures for averages:

Per month, tenant insurance in Montreal may cost an average of $18.
The range for Montreal renter’s insurance is between 150$ and 300$.
Annually, this sums up to an average of 225$ for Montreal tenant insurance.

Compare prices with Panda7 to find competitive quotes!

Question 8

How do I get renter’s insurance in Montreal?

Accepted Answer

Simply apply for a renter’s insurance quote in Montreal with Panda7. We do the shopping for you and allow you to complete the quoting process in your own time so that you can see just how easy and time-efficient getting tenant’s insurance in Montreal can be.

Question 9

Is renter’s insurance in Montreal affected if I go away on vacation?

Accepted Answer

Depending on your insurance provider, your unit may be considered vacant after as few as four days and risk having your claims denied. The reason for this restriction is that an unoccupied apartment or home is more likely to be broken into or sustain unexpected damages that accumulate over time. You can enlist the help of a friend or neighbour to look after your apartment during your absence.

Get better tenant insurance in Montreal for less

Renter’s insurance for Montreal residents

How does tenant insurance in Montreal work?

Why Customers Choose Panda7

Ready to start saving?