Question 1

What is tenant insurance in New Brunswick?

Accepted Answer

Tenant insurance in New Brunswick (also called renters’ insurance) is meant for people who rent the place where they live, whether home, condo, or apartment. It provides coverage against common risks like theft, fire damage, and personal injury that occurs on the property.

Insurance is necessary because a landlord’s home insurance policy won’t cover these perils on behalf of the renter. You want to be covered in case something happens to your home or your belongings.

Question 2

Do I need tenant insurance?

Accepted Answer

Tenant insurance is not mandatory at the provincial level, however, it is highly recommended to protect your personal belongings and have peace of mind.

Also, many property managers won’t lease their units without tenant insurance coverage. Renters in New Brunswick can expect to get a personal insurance policy quote as part of renting.

Question 3

How do I get quotes for tenant liability insurance in New Brunswick?

Accepted Answer

A licensed insurance advisor can offer the best tenant insurance New Brunswick has in store. If you contact the broker channel they can provide you with more than one option so that you can see comparable in price and coverage! We can give you peace of mind with our insurance services.

Question 4

How much is tenant insurance in New Brunswick?

Accepted Answer

This depends on where you reside, the value of your total contents, and your liability limits. Policies normally start at $300/yr or around $20 to $50 /month and increase as the content values and liability limits increase.

Since there’s no minimum coverage requirement, you can achieve lower rates by purchasing only the coverage you need. Think about your personal belongings and get the policy and the coverage you need.

Question 5

What does tenant insurance in New Brunswick cover?

Accepted Answer

The following things are generally covered by the best tenant insurance New Brunswick:

Contents

If your belongings are damaged or stolen while in your rental property, tenant's insurance in New Brunswick will help cover the cost of replacement or repair.

This is among the most important aspects of tenant's insurance since most people don’t have the money to replace thousands of dollars in lost items out-of-pocket.

Liability

If an accident on your property causes financial harm to a third party, tenant’s insurance with personal liability coverage can help cover lawsuit and settlement costs.

For example, if a guest slips, falls, and injures themselves on a wet floor in an apartment you’re renting, your insurance policy will shield you from the financial fallout of a potential lawsuit.

Relocation cost reimbursement

If the property you’re renting is rendered uninhabitable, tenant insurance will help shoulder the costs of relocating, and your living expenses.

For example, if you’re forced to stay at a hotel for a few weeks because your rental apartment flooded, tenant insurance may help with your hotel bill along with the cost of purchasing meals and other living expenses.

Question 6

What doesn’t tenant insurance in New Brunswick cover?

Accepted Answer

Tenant insurance in New Brunswick typically won’t cover replacement costs above a certain amount for extraordinarily expensive items (i.e. jewelry). To make sure you’re covered for the items that matter most to you, it’s important that you read the policy thoroughly. The best insurance broker can help you find the exact policy you need.

Question 7

Who offers the best tenant insurance in New Brunswick?

Accepted Answer

The cheapest tenant insurance provider depends on how your situation fits into the formula companies create to evaluate policyholders. For example, some insurance companies might weigh your age more heavily than others. This is why it’s a good idea to compare insurance companies with Surex. The cheapest online insurance provider isn’t always evident.

Question 8

What influences rates for tenant insurance in New Brunswick?

Accepted Answer

Tenant insurance is rated based on the type of unit you rent, number of tenants in the unit, value of your contents, physical location of the unit, prior tenant or home claims in the past under your name.

Question 9

What information do I have to provide for a renter's insurance quote?

Accepted Answer

You’ll need to provide basic information about yourself and the property you’re renting if you want to get insurance online over over the phone, including:

The address
The cumulative value of your personal property
Who else will be occupying the rental property (you want to make sure that all renters are covered under their own policies.

Question 10

Is tenant insurance the same as renter’s insurance?

Accepted Answer

Yes, tenant insurance and renter’s insurance are the same. They are policies purchased by a renter to protect themselves financially.

Province	Average Rates
New Brunswick	$500
Alberta	$466
British Columbia	$397
Manitoba	$503
Newfoundland & Labrador	$399
Nova Scotia	$423
Northwest Territories	$416
Nunavut	$402
Ontario	$478
Prince Edward Island	$385
Saskatchewan	$410
Yukon	$370

Customer	City	Type	Average Quote	Purchased Quote	Savings
Adrian	Moncton	Tenant	$1,716.00	$1,158.00	$558.00
Marybeth	Bathurst	Tenant	$2,888.00	$2,388.00	$500.00
Jessica	Riverview	Tenant	$1,912.00	$1,419.00	$493.00

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