Help your tenants protect themselves with tenant insurance
Encouraging your tenants to consider purchasing tenant insurance is one simple way of managing and reducing your risk. Many tenants do not realize that their landlord’s insurance does not cover them or their belongings in the event of a fire, flood, theft or other catastrophe. Designed for social housing tenants, HSC’s Tenant Insurance Program is a low-cost and hassle-free program. Tenant insurance offers benefits to tenants by paying for temporary accommodation and replacing damaged property. It also helps tenants by decreasing their exposure to liability when their actions injure other tenants or damage the provider’s property.
Ontario Works clients and recipients of Ontario Disability Support Program benefits may have the costs of this insurance covered as an allowable expense under their shelter allowance.
HSC can help you market this insurance to residents with brochures, posters and information sessions.
**New** In addition to offering tenant insurance on an individual basis to residents, we now have a bulk purchase option that enables providers and Service Managers to buy coverage for residents at a significantly reduced rate. Implementing a mandatory tenant insurance program this way significantly reduces your liability exposure and helps support your residents housing stability.
This video speaks to why quality tenant insurance is critical for residents as well as building insurance policies that cover additional living expenses for residents in the event of a catastrophic disaster.
HSC has also developed a Tenant Risk Awareness Kit to help you reduce your insurance costs.