Often ignored, misunderstood, or simply overlooked, proper and adequate “rental property” insurance coverage for the rental property owner (And the tenant) can, in the event of a “loss”, mean the difference between a simply aggravating situation, or that of a financial calamity, for either or both, the owner and the tenant!

With financial markets over the past decade offering lower interest rates, and returning lower yields in general for all investments, the insurance industry has gone through a serious and protracted period of consolidation and retrenching, which has resulted in the application of far more stringent underwriting requirements, and of course, higher premiums.

Rental property owners are often “shocked and appalled” at hearing that their long time insurance underwriter, upon learning that they have turned their principal domicile into a “rental accommodation”, may find their insurer elects to no longer offer insurance coverage, or, substantially increase the annual insurance premium.

Having, and maintaining adequate and up to date rental property insurance, based upon current real property values, is extremely important.

Owners in particular, who are or will be residing outside of Canada, need to be aware that numerous insurance underwriters simply will not underwrite property insurance for “non-resident” property owners.

When difficult insurance underwriting circumstances arise, Landlord has a special insurance program which will provide coverage.   

With Landlord, tenants as well are admonished to maintain their own “contents” insurance, while being reminded that a loss, regardless of who or what caused the problem, must be claimed under their own “tenant’s insurance” policy, and that failure to maintain such insurance simply means they become “self-insured” for personal property loss or personal liability.

While typical residential rental property owners understand, or are mostly aware of, their respective property and liability insurance needs, rental condominium apartment owners often fail to recognize the need for their own property and liability insurance needs, vs. those of the condominium corporation. Here, once again, Landlord  has a special insurance program which can provide coverage.

We’d like to say that:
“You Are In Responsible Hands With LandLord!”