D. Alan Swan, B.A., B.Ed., CIP Ruth E. Swan, B.Sc., B.Ed., CIP
Serving
Clients in Nova Scotia and New Brunswick, Canada
INSURANCE AND INVESTMENTS SINCE 1985
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INFORMATION OPTIONS
INSURANCE
GUARANTEED ISSUE LIFE INSURANCE
INVESTMENTS
PROPERTY & TENANT'S INSURANCE
If you purchasing Tenant's Insurance (known to some as Renter's
Insurance) then you need to set a value on the contents of your
apartment. This is the amount of money it would take to replace your
personal possessions, including furniture, clothes, food, personal care
items, small appliances...in short all the things you own in the
apartment.
In a standard homeowner's package, the contents limit is automatically
determined by the insurance company based on a percentage of the
building value. 70% is a typical amount. This means that if your
building is insured for $100,000, you have an additional $70,000 of
contents coverage. Companies allow you to increase the amount of
coverage on your contents if the pre-set limit is not high enough, which
in many cases it is not.
You can use this form (follow the link) to help you determine the amount
of contents coverage you should have. Remember that it is too late after
your loss to insure your property for the proper amount!
