A policy limit is the maximum amount you’ll get if you have a claim that’s covered. There may be different limits for different areas of your policy – you usually have a single limit for each item as well as a different, separate limit for a tenant liability insurance claim.
When you buy your renter’s insurance policy, you will usually have some choices to make when it comes to your policy limits. You should choose an overall limit that will cover replacing your stuff, but isn’t higher so that you’re not paying for coverage you don’t need. We recommend a minimum of $30,000 for contents,$1,000,000 for tenant liability, and $3000 for additional living expenses, but it can vary depending on your needs.
Tenant Liability insurance coverage included
Tenant liability insurance policies from Sharp insurance protect against accidental personal and property damage to others. So, whether your neighbor slips on your porch or you hit a stranger with your golf ball on vacation, you can rest assured that sharp insurance has you covered.
As Ontario tenant insurance brokers, we can help you choose the right policy limits for your needs and budget.