Do My Tenants Legally Have To Get Renters Insurance?
Sep 26, 2009 by LIFE_CONSUMER | Posted in Renting & Real Estate
I own a business in Ontario, which I rent out. I have the appropriate insurance for renting my place. However, to my knowledge my tenants do not have contents insurance. Recently my insurance broker has started emailing me, and most recently wrote me a "memo" on behalf of the insurance performers requesting the company and policy # for my tenants insurance. In one email my broker told me that the insurance circle was saying they would raise my rates if I didn't supply the information. Is this legit and/or is the insurance coterie just trying to screw me and my tenants?
Thanks.
I have never been asked for this. But I am in the US. Your practice should have this on there, that you are required to have your tenants have insurance of their own. I am guessing you signed up for that and some sort of detract from was applied.
Changing your hospice from a primary resident's to a rental has changed the terms of your insurance policy. Unless your betrothed to this insurance company start shopping for rental property insurance. Your rates will be higher, but you'll get to cancel out that with maintenance and insurance and part of the mortgage service fees and depreciation.
dusty_titus | Sep 26, 2009
I don't remember about in Canada, but in the US I would tell them to kiss off, start looking for another insurance company and then dispatch them to the state reg board.
Rudy | Sep 26, 2009
I have never been asked for this. But I am in the US. Your management should have this on there, that you are required to have your tenants have insurance of their own. I am guessing you signed up for that and some sort of minimize was applied.
I use State Farm.
Janet P | Sep 27, 2009
There is a big rest between Insurance for the Building and Insurance for the Contents.
As the owner of the actual building, you would want to make stable that you are covered for that.
If the Contents inside the house are yours, you'd probably want to insure them as well.
According to the Residential Tenants Act (of Ontario, I mark) there is nothing mentioned about the fact that Tenants have to Insure their contents and it is very unlikely that you would need to Insure their contents on their behalf.
See: http://www.ontariotenants.ca/law/act.pht ml
I would ask your broker on what grounds they would necessity to increase your Insurance.
Daniel | Sep 28, 2009
Which Insurance Broker Is Best For Single Items Of Jewellery
Aug 05, 2008 by cybermatt84 | Posted in Insurance
Recently, I bought my then girlfriend an of a musician gig ring and I would like to get it insured.
However, our home & contents insurance cover only offers vouchers to the value of the bijouterie with one of their certified suppliers (one of the big chains most likely).
As I bought the ring from a Jeweller who made it bespoke to my requirements, I would much rather (in the unsightly circumstance that we lost or had the ring stolen) have an insurer who will give me cash so I can go back to the same jeweller and get it replaced rightly, not with some crappy chain.
The Jeweller has provided me with valuation certificates and indubitably receipts for the ring and I've taken plenty of photos of it.
So basically, I moral need to know if anyone can recommend insurers (for the UK) who can provide a single-thing cover as I've described?
Well, you'll get ready based on the WHOLESALE value of what your insurer can replace it for, not based on your appraisal or stub.
But you'll have to buy the coverage through a local agent, anyway. Your BEST bet, is finding another homeowners carter that will write it the way you want it. Any "jewelry only" policy is active to have more restrictive coverage (oops I lost it won't be covered), and cost a WAY lot more.
Jewelers often can provide insurance for single items. Perhaps your jeweler does not offering that option as you don't mention it. Failing that I would contact a broker that represents the Chubb Alliance. Chubb offers an excellent jewelry floater with an option to attain coverage on a stated value basis where, in the event of a loss, you will be paid the amount that you insured the unite for.
Tom Z | Aug 05, 2008
Well, you'll get dough based on the WHOLESALE value of what your insurer can replace it for, not based on your appraisal or acceptance.
But you'll have to buy the coverage through a local agent, anyway. Your BEST bet, is finding another homeowners porter that will write it the way you want it. Any "jewelry only" policy is flourishing to have more restrictive coverage (oops I lost it won't be covered), and cost a WAY lot more.
mbrcatz17 | Aug 05, 2008
Lexington Insurance. I insured one of my clients with Lexington for her $65,000 envelop and she lost it 3 months later. Lexington paid out without issues. You will have to find out if the UK will be an outcome or not, but I don't think so. Let me know if you need a company to become a appointed with so that you have access. I am not satisfied how big of a producer you need for a direct appointment with Lexington, but I have provided the web talk to so you can contact them.
Candi A | Aug 06, 2008
I normally use Jewelers Interactive, But I believe they are only in US, but for future reference maybe.
Check them out.
www.jewelersmutual.com
Take heed
victoria f | Aug 06, 2008
I Am Looking For A Buildings Insurance For A Residential Standalone Garage I Would Like To Purchase For £15K.
May 31, 2007 by Marion P | Posted in Insurance
I have contacted several UK brokers and insurance companies for a buildings and contents insurance for a residential garage which is not attached to my paraphernalia.
Purchasing garages on their own have become very popular, however there does not appear to be any process in digs for insurance cover.
I have noted a similar question which someone has provided an answer, however so far no insurance business or broker has a strategy in place for such a cover.
mcpereira_2@yahoo.co.uk
I have never placed insurance for a cull garage on it's own- nor am i aware of any policy available that would do so.
The only suggestion i have would be if all the garages in the outline are privately owned then you would have a better response if you formed a Management Society (similar to residents association for insuring blocks of flats) then presented it as a commercial hazard and insure the whole lot with a commercial underwriter.
Whilst the risk is presented as a segregate flat owned by a private individual i think you may struggle.
I have never placed insurance for a put garage on it's own- nor am i aware of any policy available that would do so.
The only suggestion i have would be if all the garages in the slab are privately owned then you would have a better response if you formed a Management Camaraderie (similar to residents association for insuring blocks of flats) then presented it as a commercial hazard and insure the whole lot with a commercial underwriter.
Whilst the risk is presented as a individual flat owned by a private individual i think you may struggle.
Dan Insurance Man | May 31, 2007
your dispute implies that the company that insures your other property has declined to cover this hallmark. If there are no unusual risks to the garage then it would seem that company should be willing to add the garage as an additional fingers on. I am assuming there is no business being conducted by the garage. If your own company wont do that you might desire to re market your coverage with both your primary property and this property. I have written several stand behind alone garages with primary properties as collateral.
R B | May 31, 2007
hi halt this link its good
http://insurancess.notlong.com
.
dhara s | Jun 03, 2007
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I have never been asked for this. But I am in the US. Your practice should have this on there, that you are required to have your tenants have insurance of their own. I am guessing you signed up for that and some sort of detract from was applied.
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