Dusyk & Barlow Insurance Brokers Ltd. have two locations in Regina, SK.  We are a family based business that has been operating in our current form for 25 years.  Our families have been involved in the Saskatchewan insurance industry since 1936.  We offer various insurance products including auto insurance including Saskatchewan SGI motor licensing services, home insurance, condo insurance, tenant insurance, travel medical insurance, commercial insurance, and bonding and surety services.  We can offer these products not only in Saskatchewan but also in BC, Alberta and Manitoba.  In our latest article, brought to you by our own Rob Barlow,  we share some helpful tips on what to look for when purchasing tenant insurance.

Tenant Insurance

My oldest son recently graduated high school and, although he is initially staying home for his studies, I am already mentally and emotionally preparing for his eventual move out of the house.  Of course, being the exciting insurance guy that I am, one of the first things we will address on that fateful day is tenant insurance.

Fortunately, he’s got me to guide him through this.  Many people, whether they are just moving out on their own or come from a place where insurance is not commonplace, don’t realize the worth of a tenant policy or that such a thing even exists.  We have regular talks with new clients on this often referring to incidents similar to the one outlined in a CBC article outlining a tenant insurance issue.

Never underestimate the importance of tenant insurance

Tenant moving into property

Tenant insurance is more than just contents coverage, although that is important in and of itself. We find that many people underestimate the replacement value of their contents.  We urge our clients to take into account all of their contents from their sock drawer through to the rest of their clothing, furniture, appliances large and small, electronics and even food.  Replacement cost is the key.  The fact that the old couch is past it’s prime doesn’t factor in.  What matters is the cost to replace that couch with something of similar quality including fabric and size, in today’s market.

In addition to the contents, a tenant policy pays for shelter in the event that a claim renders your rental unlivable. The policy will pay for you to stay elsewhere until it is safe to move back home.  This is such an important factor, especially for those new to a city where they may not have anyone to rely on if they need a temporary place to stay.

Lastly, the protection that liability coverage provides in protecting in case you accidentally cause damage to someone’s property or, worse, injury to someone.  Most don’t think about this but liability coverage can extend beyond the 4 walls you rent. It can extend to you causing an accident on your bicycle or accidentally starting a fire while staying in a hotel.

The importance of broker advice when choosing your insurance provider

The last thing to remember is you don’t have to take the policy your landlord suggests.  It might be the best policy for your landlord but it might not be the best policy for you, potentially leaving you under insured in many or all of the scenarios above.  Shop around a bit.  Most landlords only give you one option.  A call into a broker will give you many more options in terms of both price and coverage in just minutes.  We deal with 7 different insurers at our office alone. You can shop on our website and/or or call in to speak with one of our experts for clarification on a tailor made policy that fits your needs.  We’ll act like the caring parent helping guide you through your first insurance purchase – maybe even with a proud tear in our eye!

If you would like additional information or a quote on tenant insurance or information on any of the other  insurance products we provide, please contact us at either of Dusyk & Barlow’s locations.