When it comes to renter’s insurance, it can save you a lot of heartache and trouble if you buy the insurance in advance. You don’t have to worry if a fire or other disaster comes and destroys your rental this way. When getting renters insurance, most rental management Calgary companies have a few tips that can make your experience better.
#1: Pick the Correct Coverage
The average rental management company will give estimates of coverage for renters at around $35,000. You want to pick the right amount of coverage so that the prices never become burdensome. When deciding on a policy, a Calgary property management company will tell you to take careful inventory of everything on your list. After you have added the price up, you can get a better idea for how much coverage you should have for it.
#2: Know What They Don’t Cover
Most property management Calgary companies will talk about what they cover and don’t cover. You want to look over the policy yourself to ensure they include the essentials like floods and fires. If you live in a region with frequent earthquakes, you will want to seek coverage for this even if it doesn’t come automatically with the policy. In some cases, you have to option to purchase this as a secondary policy.
#3: Bundle to Save Money
You can bundle on the cost of insurance to save on coverage. Most of the rental management company options will recommend that you bundle to save. Estimates range anywhere from 10 percent up to 20 percent savings.
The next time that you speak to your property management Calgary company ask them about their renter’s insurance policy and how it works. This can give you a better idea about what to expect with it and how to proceed. Always read the terms inside the policy before buying.
New Leaf Properties is a group of dedicated professionals with expertise in managing residential properties for over 25 years. We offer a fresh approach to property management for owners and renters.