There are different housing insurance packages such as condo insurance, and home insurance. One interesting one that is predominant in developed countries is tenant insurance. In Canada, one of the best companies that offer tenant insurance services is TD Tenant Insurance. In the course of this article, we will be looking at what TD Tenant Insurance covers as a brand and how to apply for it as a tenant in Ontario, Canada.
What Does TD Insurance Cover?
It is important to note that tenant insurance is the same thing as renters insurance and contents insurance. Imagine renting a home in the suburbs of Ontario, and your apartment caught on fire, did you know that you could be held responsible for the damages? If someone visited you in your apartment unit and slipped and fell in your kitchen, did you know that you may be financially responsible for the medical bills? This is where TD Tenant insurance comes in. They are an Ontario-based insurance company that helps its customers cover the cost of damages that may have been intentionally or unintentionally part of your rental unit.
TD Insurance covers damages incurred due to theft, water damage, or fire. They also help you with other interesting needs after a loss, such as living expenses, and food. Although it is important for any TD Tenant insurance potential customer to know that this has certain limits. In the eventuality of a lawsuit, TD tenant insurance helps protect you and your family.
Do You Need TD Tenant Insurance As A Tenant?
It is important to note that you do not compulsorily need tenant insurance if your renter has one. However, if you are a renter, you need to be on the safe side and have tenant insurance just in case. With TD tenant insurance, you can accidentally cover losses that were unexpected. Most of the time, it can be costly to replace an item that was damaged. However, what seemed to be very expensive on your own account can be very inexpensive with TD Tenant.
Can Your Landlord’s Home Insurance Protect You?
There are occasions where your landlord will possess homeowners insurance to protect structures like pipes, appliances, and any major upgrades in the physical building. However, this insurance might not be able to cover your personal belongings should anything happen to them. If damages come to your apartment, outside the general structure of the building, the damage will be on your account.
Does TD Tenant Insurance Cover Personal Liability?
Since the course of this article, we have been talking about covering damages that occur to buildings, what about human beings? What about your very self? Does TD Tenant Insurance cover for personal liability?
Well, what is covered in this case depends on what is seen as a liable party by TD tenant insurance. If you are required to pay for damages from a cooking fire that brought damages to you, then TD Tenants Insurance can protect you in this scenario.
To increase the limit of your liability with TD Tenants Coverage you need to buy extra coverage.
Few Basic Terms Associated With TD Tenants Insurance
Here are a few terms that are associated with TD Tenants Insurance and their offers:
- Contents: Contents according to TD Tenants insurance means personal property that is located in the home that you own. TD Tenants insurance also covers contents that can be temporarily removed from your home. With this insurance company, some contents such as jewelry and collections are subject to limits. If you have special items in your home, you can discuss options to increase your insurance coverage.
- All-Risk: This is when a property is insured over any loss or damage unless it was specifically excluded from your policy like international damage. Personal Liability: This is an insurance package offered by TD Tenants that protects you if someone visiting your premises is injured unintentionally in your residence. This coverage also applies if you damage someone else’s property and have to pay for the damages.
- Replacement Cost Coverage: This term means that the contents of your home are insured for the particular amount that it costs to replace them. This comes without any depreciation up to the cost of the insurance.
Additional Living Expenses Coverage:
With this kind of coverage, TD Tenant insurance will pay for extra expenses such as hotel and food costs. This is only applicable if you are forced to leave your home following an insured peril for a reasonable period needed to fix your home or relocate permanently.
Special Occasions That Affects Your TD Tenants Insurance Rates
It is important to note that there are special occasions that affect your TD Tenants insurance rates.
If your child is studying away from home, your Tenants insurance rate will definitely be affected. This is the case when your kids normally reside with you, but you are away from home for some personal business, your insurance will cover their belongings too.
If you are planning to move, TD Tenants insurance will automatically insure your old home. They will also ensure the contents in transit, and your new residence within Canada. If you wish to apply for coverage from TD Tenant Insurance, all you need to do is to visit their official website and get a quote.
How To Get TD Insurance Tenants Claim
As stated earlier, you may need to file an insurance claim if you have damage to your home. Here are practical steps to take to get a TD tenants insurance claim:
1. Report The Incident That Needs Coverage
If you need coverage for an incident, simply visit their official website and report the incident. It is important that you have your policy number and police report handy if there is any. When you make a report, explain in detail what happened to highlight the damages caused to the belongings, property, or your home.
2. Work With A TD Insurance Claims Advisor
If you have an account with TD insurance, you will be assigned a claims advisor. They are available through Friday 8 am to 8 pm to Saturday 9 am to 4 pm.
3. Claim Closure And Repair
The next stage will be the stage of estimating the damage and repair. If you want, you can have your home repairs completed by a contractor of your choice. After this, the repairs and reconstruction will start. When the repairs have been completed, your claim will then be closed by TD Insurance.
If you wish to contact their financial and consumer affairs authority, call 306-787-9006.