Tenant Insurance: Liability Explained
Often when people think about liability insurance or being sued they think about those tacky lawyer commercials from the United States. “DID YOU STUB YOUR TOE HELPING YOUR FRIEND MOVE INTO HIS NEW APARTMENT?! CALL US AND WE WILL FIGHT FOR YOU!” Well in Saskatchewan we aren’t nearly as intense, but we do still take liability seriously.
Accidents can happen, and if you were ever held legally responsible for injury to another person, or for damages to someone else’s property, without liability insurance, you could find yourself stuck with a hefty bill.
For example, Careless Cooking Causes $4 Million in Damages: In 2015 a simple kitchen accident starts a fire on the third floor of an apartment leaving many residents with only the clothes on their backs. Read more: http://ow.ly/6EUC30nhkOB
Personal Liability doesn’t just protect you while in your home! If you’re on vacation, or spending the afternoon at the park, and your Frisbee goes astray and hits a cyclist, your liability coverage will protect you if you’re deemed legally responsible for their injuries and damages to their bike!
Your tenant insurance automatically includes personal liability coverage, but depending on your situation the minimum may or may not cut it. Every person has a different level of risk, so reviewing your situation with a advisor can help to make sure you choose a limit that works for you!
We like to think it’s better to be safe than sorry, and while tenant insurance covers a wide variety of things, liability is easily one of the most important parts!