So you are leaving the familiar halls of high school for an adventure into the exciting unknown of post-secondary education. It is an exciting time! It can also be a very expensive time. Now, we know the last thing you want to be thinking about is finances. However, once you work out the expenses of rent, living costs and textbooks, to name just a few, it can all quickly add up. These expenses are unavoidable, but what if there was a way to spend money and save money in the long run?
At Lambton Mutual, we can provide you with the opportunity to take out inexpensive tenants insurance with us right at the start of your student journey. When finding a place to live, tenants insurance is often overlooked by students as many believe they are covered under a landlord or roommate. This is not the case. Students should obtain their own tenants insurance.
Here are three reasons why:
1. TO INSURE YOUR BELONGINGS
In the event that you lost all of your belongings, as could be the case with fire or theft, tenants insurance provides coverage to replace your possessions.
2. TO COPE WITH YOUR OTHER NEEDS AFTER A LOSS
Tenants insurance pays for the extra expenses incurred as a result of an insured loss, such as hotel accommodations and restaurant meals, while repairs are completed.
3. TO PROTECT YOU IN THE EVENT OF A LAWSUIT
While the landlord may be responsible if someone falls in front of your apartment building, you could be held responsible if someone injures themselves due to your actions. Tenants are responsible for the harm they cause to any part of the building and to others who live or visit there. Insurance protects you in the event of a lawsuit.
We want you to start this new adventure feeling secure and confident in knowing that if anything goes wrong you will be covered and well looked after. Tenants insurance is also an excellent way for students to establish an insurance policy history, that will potentially make home insurance more affordable later on. But let’s just get through university/college first, before we start thinking about buying houses!
We encourage you to speak with your Agent or Broker to learn more about the Tenants Insurance Coverage that is best for you.