Renter's Insurance Help?

[FireFly]

Hey all... I've decided to no longer be an idiot and pray nothing will happen, but actually get some renter's insurance in case something does... not that I think it will. However, I don't have a vehicle and have never had insurance in my name before, so I have no idea who is a good insurance company. Any ideas? Anyone know somewhere that has a great corporate discount? Any insurance brokers here that'll give me a great deal?

[I-Hate-Hulse]

It's ridiculously cheap for what it can potentially save you, we're only talking about $50 a year for $40,000 of coverage (thought let me double check those numbers exactly).

If you're a university grad or member of a professional association - Meloche Monnex is the way to go. My g/f went through AMA and it was only $10-20 a year more - shopping for this is nothing like car insurance.

[FireFly]

My concern is that I live in a really old wooden building. So it's going to be higher... though it's a non-smoking building...

[Cheese]

Meloche Monnex is a great company...give them a buzz for comparisons, and good idea getting coverage Fly. Meloche Monnex link
I suggest you scrounge around and try to put a net worth on your belongings...if its only $10,000 insure for 15...if its $50,000 insure for a bit more....you will acquire odds and ends over the year. This means adding up costs for clothing, CDs, jewelery, memorobilia, etc etc. Take pictures or vids of stuff and keep offsite.
Make sure you have a few smoke detectors in the place.
Ive known a few people who have lost it all due to fire or other things. For the price its silly not to insure.

BTW...For professionals, Meloche Monnex is by far the cheapest insurance. If you are a CET, Engineer or other Pro you should be with this company, or at least check their rates.
Ive also found that calling and speaking to an agent ALWAYS gets better numbers than an Internet form.

[jolinar of malkshor]

Originally Posted by FireFly

My concern is that I live in a really old wooden building. So it's going to be higher... though it's a non-smoking building...

I know when I purchased mine...all they asked was what kind of building (house, appartment, duplex) and if it was a certain distance to a fire hydrant.

[mykalberta]

I am with Wawanesa and they didnt ask anything structual about the building - they gave me a list of questions for my Landlord to sign - stuff like how many units, how high, what area etc.

I am in a Concrete condo now but back then my insurance wasnt much at all.

MYK

[ken0042]

Originally Posted by I-Hate-Hulse

It's ridiculously cheap for what it can potentially save you, we're only talking about $50 a year for $40,000 of coverage (thought let me double check those numbers exactly).

When I last rented 2 years ago I was paying closer to $150 per year. Still cheap, but not $50 cheap.

I first got tennants insurance because on place I lived in caught fire about 3 months after I moved. The landlord let me look at my old apartment and I would have lost almost everything. Slight twist to it; part of the reason I moved was because of idiot neighbours, and said idiot neighbour fell asleep smoking and had 2nd and 3rd degree burns; proving my "idiot" theory.

[FireFly]

Too funny... I filled out their online form, which asked what my dwelling was built out of as well as how far it is to a fire hydrant among other things. It also asked the year my dwelling was built and when I put in the response (1907) it errored out the form. I have to call. I think regardless of who I go with it's going to be higher than most people's renter's insurance just because of that.

[Nufy]

Originally Posted by mykalberta

I am in a Concrete condo now
MYK

Sounds ever so comfortable....

Does it have Bars on the windows and a great view of the City from the Northwest..........

[fredr123]

Don't underestimate how much your crap is worth. It might not seem like much, but as the wife and I were walking around our apartment tallying up the value of our crap it came out to a lot more than I would have guessed. Don't sell yourself short in case, heaven forbid, you have to make a claim to get new crap.

[trew]

Originally Posted by FireFly

Too funny... I filled out their online form, which asked what my dwelling was built out of as well as how far it is to a fire hydrant among other things. It also asked the year my dwelling was built and when I put in the response (1907) it errored out the form. I have to call. I think regardless of who I go with it's going to be higher than most people's renter's insurance just because of that.

I'd be surprised if it was. I insure a comparibly old house through Meloche Monnex, and the extra premium I pay is very small.

For tennants insurance, it will likely be a negligible difference.

[I-Hate-Hulse]

Originally Posted by fredr123

Don't underestimate how much your crap is worth. It might not seem like much, but as the wife and I were walking around our apartment tallying up the value of our crap it came out to a lot more than I would have guessed. Don't sell yourself short in case, heaven forbid, you have to make a claim to get new crap.

When you're guesstimating how much your contents are worth, don't forget about the value of the clothing. At an average cost of what, $40 an item it can really add up there quickly. At the Waterford Condo fires by Talisman Center, that's what insurance companies were stingy on the most, they wouldn't replace, only launder smoke damaged clothing.

[redforever]

Originally Posted by Cheese

Meloche Monnex is a great company...give them a buzz for comparisons, and good idea getting coverage Fly. Meloche Monnex link
I suggest you scrounge around and try to put a net worth on your belongings...if its only $10,000 insure for 15...if its $50,000 insure for a bit more....you will acquire odds and ends over the year. This means adding up costs for clothing, CDs, jewelery, memorobilia, etc etc. Take pictures or vids of stuff and keep offsite.
Make sure you have a few smoke detectors in the place.
Ive known a few people who have lost it all due to fire or other things. For the price its silly not to insure.

BTW...For professionals, Meloche Monnex is by far the cheapest insurance. If you are a CET, Engineer or other Pro you should be with this company, or at least check their rates.
Ive also found that calling and speaking to an agent ALWAYS gets better numbers than an Internet form.

Yes it is, and you can comparison shop, others simply can not match their coverage or rates.

And for $25 extra a year, they offer the Grand Touring option, which protects you against a lot of kind of freaky type things you dont think of.

I would also suggest you get a replacement cost endorsement. You might not have much in the way of possessions, BUT, if you only get back what they were worth at the time, you will probably lose out big time. At least with a replacement clause, you will get something equivalent to what you had.

[Tailspin]

The age of the dwelling shouldnt make a huge difference, as long as the wiring, plumbing etc is current. Ive been selling this stuff for a few years, if you have any questions or want a quote pm me and Ill give you my office number.