Landlord Insurance In Canada Overview
Congratulations! As a landlord you’ve taken a huge step forward for yourself, your family and financial future. You’ve created an opportunity to grow your wealth, and now it’s time to make sure your investments are protected with landlord insurance in Canada.
With increased risk, comes increased reward. Although you have the ability for positive gains from your commercial or rental property, it’s important to protect your assets.
Just as you need home insurance for accidents like fire, flooding, sewer/toilet back up, slip and falls etc. you will also want insurance for your rental or commercial property. Thankfully the expert commercial insurance broker at the business insurance brokerage ALIGNED Insurance work with hundreds of landlords across Canada. They are skilled at understanding the nuances of your rental property/situation and are able to secure the best Landlord Insurance in Canada from some of the 65+ top Canadian insurance companies they work with.
What can landlords insurance cover in Canada?
Did you know that there are insurance options that will allow you to protect yourself in the event of loss of income?
Wouldn’t it be nice to know that if your tenants move out expectantly, or you have a loss of rental income due to other unforeseen circumstances, you can be protected? You can protect every part of your investment, from the furniture down to the liability coverage for injury.
What are Canadian landlords liable for?
A landlord is liable for injury or damaged property that happens on your commercial or rental property. First, you want your building and any of your own belongings to be protected, which is challenging given that a renter will not take care of your property with the same care as you would.
Second, you don’t want to worry about the liability, like a slip and fall, happening to a tenant or one of their guests. And third, you want to feel confident that any loss of rental income that could be incurred as a result of a fire, flood, etc. that might come up in relation to your property or tenants can be covered by your insurance policy so you can continue to pay your mortgage without issue or financial strain.
As a landlord there are risks associated with your investment, but that doesn’t mean you can’t mitigate those risks with the right insurance. Talk to an ALIGNED Insurance broker today at 1-866-287-0448 to find out how you can protect your investment before problems arise or get a quote today.
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