Surex is happy to now provide rented dwellings insurance, a full-proof way to protect landlords and their investments. This coverage is designed with the landlord's interests in mind by not only covering personal liability but now offering additional coverage for lost rental income, giving landlords more peace of mind - priceless!
What’s the difference?
Personal liability: in the event of an injury or loss of life on the leased premises
Lost rental income (additional coverage): in the event, the rental property is unfit to rent for damages and needs rebuild or repair
Why do you need both?
If you own your home and have a rental property (or two) it is important to have both, as they may seem similar, but they are vastly different and you can miss out on some key things.
Homeowners insurance: is for people who own their home and use it as their primary residence. This is usually the basic type of insurance needed when purchasing a home and obtaining a mortgage.
Rental insurance: (also known as landlords insurance) is for property owners who rent out one or more dwellings to tenants. *Without this type of insurance, the landlord would miss out on loss of rental income if they experienced any type of property damage (making the property unfit to rent until the repairs were completed).
If you are looking to get into the rental game, or only have homeowners insurance, Surex is the first brokerage in Canada to show numerous rental property insurance quotes - in real-time – to landlords and represents multiple carriers who offer insurance on both rental homes or condos, making it easier for consumers to shop around for the best deal.
“This is a game-changer as it provides full transparency to the client. The client can view all available options and see for themselves that they are getting the best price available, at the click of a button, in only a few minutes” Kelliane Layton - Manager, Distribution West.
Not only is this new coverage more specific to landlord needs, but it is also much faster to acquire! You can get a quote in as little as 10 minutes online, rather than the 30-60 mins it would normally take, increasing not only the speed but the ease at which customers can purchase what they need.
“Speed and ease of doing business is important to most consumers. A typical rental property quote can take 30 - 60 minutes but now we have the ability to quote within 10 minutes” Aaron Zaugg- VP of Broker Distribution.
Wait, there are more benefits! If your primary insurance is with Surex, customers can expect to receive discounts on any rental property insurance policies (if using the same carrier) and can confidently continue to work with their trusted Advisor - now that sounds pretty good!
“With the launch of rented dwellings, Canadians can now shop, compare and buy online for any investment properties they own. This addition at Surex strengthens our approach in building a truly unique ‘Insurance Marketplace’” Matt Alston - COO & Co-Founder.
Check out our website, or contact your advisor for more information today!
