My Tenant Has Insurance, So Why Do I Need It Too?

If you’re renting out your property, you want to make sure your tenant has insurance coverage. But your property has value your tenants insurance doesn’t cover, so you’re going to need your own policy.

Your tenants can buy a Renters Insurance policy that includes:

  • Their personal liability
  • Their contents and belongings
  • Their additional living expenses if a claim occurs

However, their policy does not cover the home that they rent from you, or any of your property within like appliances or furniture. This is what Rented Home policies are for.


If a person happens to slip, fall and get injured on your property they may decide to bring a civil suit against you. Your insurance will defend you against these claims, up to the liability limit of the policy. Nuera Insurance offers up to $5,000,000 worth of liability insurance on their Rented Home policies, which may seem like a lot until you have a lawsuit on your hands.

Loss Of Rental Income

Another coverage offering found under the Rented Home policy is loss of rental income. Should there be damage to your property that forces your tenants out, you could lose your rental income. This coverage will reimburse you up to a year of lost rents due to an insured claim.

Tenant Vandalism

We’ve all heard horror stories about tenant vandalism (or lived through them). Many rented home policies exclude Tenant Vandalism to your property so check with your insurance broker or insurance company to find out if your policy covers you. Nuera is happy to say we offer this coverage to our landlords so they can protect their asset.

Water Protection

And finally, one of the most valuable coverages, water protection. Water losses make up over 50% of claims in Alberta, and with weather patterns changing this trend will not be going away any time soon. Sewer back-up, water escape and overland water are the important components that need to be added on to your policy. The average water loss costs $20,000 in repairs and replacement of belongings; unfortunately, many rental home policies don’t offer water coverage due to the home being considered “high-risk”. With Nuera, you get the option of adding this coverage to your policy so you can rest easy when flood season approaches.

Now that you know why a landlord insurance policy is so important, it’s time to make sure you’re covered. For more information on a Nuera Insurance Rented Home policy, click here.

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