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Emerald Management and Realty Ltd.'s Blog

Founded in 1972, Emerald Management and Realty Ltd. has offered services in the greater Calgary real estate market for more than 35 years.

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Emerald Management & Realty Ltd., provides property management and rental services for Calgary houses, apartments and properties in Alberta, Canada. Dedicated to working closely with property owners and fulfilling their obligations while monitoring renter expectations, Emerald Management & Realty Ltd., also encourages tenants to acquire tenants’ insurance. While landlord insurance policies may cover some expenses, tenants’ insurance remains important for a number of reasons. Currently, the Residential Tenancy Act in Alberta does not require that a tenant have insurance and while Emerald Management & Realty Ltd. can not guarantee what a tenant will or will not do, tenant insurance is still great peace of mind for tenants for some of the following reasons:

1. Protect personal belongings. Typically, landlord insurance coverages protects the property and landlord against structural damage and personal liability in the event an individual sustains an injury while on the property. However, these policies do not protect tenants’ personal possessions against theft or accidents such as fire or flooding.

2. Avoid replacement costs. Expenses for uninsured possessions that require replacement fall solely on the tenant. Even small and inexpensive items can add up depending upon the extent of the damage or possessions lost, especially if credit is owed on lost items. Since tenants’ insurance is relatively low-cost, it can save tenants a considerable amount on possession replacement costs.

3. Secure displacement protection. In the event that your unit or dwelling becomes uninhabitable due to fire or other extensive damages, landlords are not required to pay for expenses involved in finding temporary housing. Individuals with tenants’ insurance may have these expenses covered for them by the insurance provider, including moving costs.

The above are just a few examples of the benefits of tenant rental insurance. Again for peace of mind for the tenant – the cost is nominal and well worth serious consideration.

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