RENTAL PROPERTY INSURANCE IN ONTARIO

INSURANCE SIMPLIFIED

RENTAL PROPERTY INSURANCE IN ONTARIO

INSURANCE SIMPLIFIED

Rental Property Insurance in Ontario

The term ‘Rental Property’ is familiar to most. But do you know exactly what a rental property is? As Josh Mashinter, our Farm & Commercial Account Producer has pointed out, any property that is not owner-occupied and has tenants in it is classified as a rental property.

“Now whether that’s commercial retail tenants, like a lawyer’s office or a retail store, or a family dwelling or student tenants in the rented home, this would all qualify as a rental property.”

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Kathryn Hutson
2022-09-12
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Hilary was great at switching over my policies and getting me the right quote! Will definitely continue to work with Duliban moving forward.
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dan tocchet
2022-09-05
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Excellent service from moment they contacted me to when both auto & home insurance was set up. Definitely would recommend Duliban Insurance Brokers.
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Wanda Durbin
2022-09-05
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I would definitely recommend looking here for first-rate customer service! It was my 1st time using an on-line insurance broker, and I would like to thank Warren Drake for making it virtually stress-free! (dare I say enjoyable?) Warren was very professional, courteous, personable & efficient. He made sure, at every juncture, to present me with the options available, ensured that I understood & recommended what he felt was best & why. Stress-free & very good rate! Well done!!
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2022-08-29
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2022-08-24
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As I was looking a new quote for a car insurance at lowestrates.ca I've found Duliban Insurance Brokers thru CAA. And thanks a lot to Trevor his generosity and helpfulness. You guys are awesome and have a good service and dedication. I highly recommend Duliban Insurance Brokers and give 5 stars
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Moncef El Jirari
2022-08-22
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I just started shopping and browsing as I am planning to buy a car in the next few months, and Amy Brown called me to give me all the information I need to make the right decision on what insurance company to choose. She was very professional and very helpful even though she knows I'm buying an insurance in the future as my new car is not ready yet. The rates and coverage she could find me are unbeatable for Toronto Midtown. I highly recommend to anyone looking for an Insurance Broker. Thanks Amy Brown in case you read this message.
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Jennifer Lemieux
2022-08-16
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george farrell
2022-08-10
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I've completed my first year with Duliban Insurance brokers. Signing up for auto insurance I happily saved hundreds of dollars annually for one car. Being a senior with an excellent record Amy Brown made it simple and quick with big savings to begin my new auto policy. I had been with prior insurer for close to 20 years of clean driving. Kudos to Amy and the Duliban Insurance team! Much success!!
Jeremy Dunn
Jeremy Dunn
2022-08-09
Verified
Very satisfied with how Duliban handled insurance for my farm property. John Critchley is very knowledgeable, patient and responsive.

What You Need To Know About Rental Property Insurance

Rental Property Insurance is similar to that of Homeowner Insurance in the sense that the primary concern is coverage for the building or structure. Ultimately, Rental Property Insurance provides landlords with protection to cover unforeseen damage expenses caused by disasters like fires, flooding and other specific coverage’s that are unique for residential realty.

The right rental property insurance will also cover contents, third-party liability, and more.

 

What Does Rental Property Insurance Cover?

The location of your property, the type of tenants, and the design of the building/home will all come into play when determining what type of rental property insurance is right for you, and if additional coverage options are needed.

Landlords can choose from five policies depending on the type of property.

  • Residential Rental Property Insurance: This coverage protects properties with one to six family units.
  • Apartment Building Insurance: A building that houses seven or more families will need this coverage.
  • Student Rental Unit Coverage: This policy is for landlords renting to students (residency rules can have a significant impact on insurance premiums).
  • Rented Condo Insurance: This type of coverage will protect condo owners on an individual basis.
  • Airbnb Rental Coverage: Seasonal property renters, out-of-town owners, and landlords providing other short-term rentals benefit from this specific policy.

In some cases, coverage for landlords can come in combination with a homeowner’s policy, or on a standalone basis. Most rental insurance policies can be customized to meet your specific and individual needs as a landlord; however, several situations are typically covered by your rental property insurance policy.

  • Structural Damage Coverage
  • Fair Rental Income Protection
  • Liability Insurance
  • Protection for Loss of Rental Income

 

How You Can Get Started

We can direct you to companies that have custom programs that offer landlords protection with limits based either on the actual cash value, or the replacement cost of the building.

If you have specific questions about Rental Property Insurance, or want more information, the Duliban Insurance Brokers team is here to help! Contact us today to find answers to your questions and to get a free quote based on your specific needs.

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