The Real Deal about Renters Insurance

If you had to replace all of the contents of your home out of pocket, how much do you think that would cost? A zillion dollars, right? Okay, not quite that much – but a lot more than you would think.

Let’s see: you own a computer, phone(s), iPod(s), big-screen HDTV, DVD player, PVR, gaming systems, sound systems, and maybe even more electronics. Wow! We’re already into the thousands of dollars, and we haven’t even added your furniture, clothing, and household items yet.

Just because you rent a condo, apartment, or house doesn’t mean you don’t own a lot of cool stuff. Protect it with renters insurance, because you may be surprised to learn what isn’t covered under your landlord’s or condo board’s insurance policy.

Three things you really need to know about renters insurance are:

  • You’re responsible for your things. Your landlord’s or condo board’s insurance doesn’t cover the contents of your home. The only time a landlord or condo board can be held responsible for your stuff is when your belongings get damaged due to their negligence.
  • Your neighbour might not cover you. If your uninsured neighbour causes a fire, your insurance will pay for the damage to your belongings. However, if you don’t have insurance, your stuff won’t be covered.
  • Your costs are covered. Your renters insurance also covers the cost of things such as hotel bills and meals if you have to live away from your home while repairs are being done during a claim. It also protects you in case someone gets hurt in your home or your unintentionally cause damage to someone else’s property.

If you’re a renter, renters insurance will protect your stuff so you’ll be able to replace your prized possessions if you lose some or all of them in a fire or due to theft or vandalism.


Compared to replacing everything you own, renters insurance is like the deal of the century. Get Your Quote Today!.

Are you moving for the first time? Check out AMA’s Insider magazine for everything you know about getting into your first rental apartment.


Since 1962, AMA has been providing reliable auto insurance to Albertans. We are proud of our strong Alberta roots and our history of protecting what matters most to you.