Importance of Tenant Insurance in the Event of Fire and Evacuation

Tenant Insurance Protects Against Loss from Fire in the Unit or in Nearby Units

Television news channels will often use the term ‘breaking news’ when airing live reports of a fire in an apartment building or a multiple-unit complex. In addition to reporting on the efforts of firefighters to extinguish the blaze, these broadcasts have also been known to include interviews with panicked tenants who have needed to leave/escape their unit; some of these people may have just been rescued from the burning building while others are neighbours who have been evacuated for precautionary reasons.

When the live news feed ends, so ends the story – for the significant majority of viewers who are not directly affected by the fire; but what happens to those who are impacted, whether residents or neighbours, and especially if the property damage is such that they cannot return to their home/unit for an extended period of time? With concerns for their health and safety taking priority in importance, many ensuing worries could be alleviated if they have adequate tenant insurance.

Damage or loss related to fire and smoke is not limited to the place of origin of that fire. There are several circumstances that can expose neighbouring residents to potential loss of property too; some of these would include:

  • Permanent evacuation due to unsafe conditions
  • Smoke penetration through open windows/sliding doors
  • Use of their unit by firefighters trying to access to the blaze
  • The inability to retrieve personal items from nearby cars or lockers
  • Water penetration as it cascades from firefighting efforts on an upper floor

Due to the proximity of the units within various rental properties, the respective tenants will want to ensure that they are sufficiently protected against property loss in the event of fire; types of properties in Durham Region for which tenant insurance is recommended and/or required would include:

  • Apartments
  • Condominiums
  • Office Buildings
  • Student Housing
  • Shopping Centres
  • Industrial Complexes
  • Hotels and SROs (single room occupancy)

Of course, all tenant insurance is not the same; each policy will need to be individualized based on property type, the nature of the occupancy (e.g. personal, business, or income generation), and any particular needs or special items that need to be covered/protected in the event of fire/smoke damage and a subsequent claim.

It might therefore be prudent to speak with a knowledgeable and experienced insurance broker, such as a representative from Petley-Hare Limited in Oshawa, to obtain tenant insurance or discuss an existing policy to determine if it adequately meets related needs.

Experienced Brokers with Local Knowledge of Tenant Insurance Needs, Options

Explaining The Importance of Tenant InsuranceDespite any/all precautions, the risks of property loss from smoke/fire are ever-present, even in the smallest of percentages; and that percent probably could be higher for those who reside or operate businesses in multi-unit complexes.

The experienced insurance brokers from Petley-Hare Limited can help address the tenant insurance needs of residents and business owners in Durham Region, as well as students and visitors who may need temporary residency in the local area. As an aside, students who are or will be residing in Durham Region during the school year might be interested in the position of the Insurance Bureau of Canada (IBC) on Tenant Insurance for Students.

With offices in Oshawa, Pickering, and Bowmanville, Petley-Hare Limited representatives are locally-based and therefore fully knowledgeable of the tenant insurance requirements and/or options that are or might be applicable respectively across the region.

If you are looking to acquire tenant insurance or review and revise a policy with respect to protection against fire/smoke damage, Call Petley-Hare Limited at 1-800-216-5324 today to speak with an experienced broker or Contact us to schedule a consultation in our Oshawa, Pickering, or Bowmanville offices.