Renting: More flexibility, but just as much responsibility

Renting lets you live comfortably and enjoy greater flexibility. While tenants aren’t liable for property tax, they are responsible for any damage they cause to the rented property or to neighbouring homes.

Contrary to what some may think, homeowners’ insurance only covers structural damage.

Did you remember to turn off the taps?

Take the classic example of an overflowing bathtub. The water leaks into the apartment on the floor below, transforming it into a deluxe swimming pool. The tenant in the flooded apartment will not hesitate to send you a bill for the repairs.

If you’ve neglected to take out tenant insurance, the cost of these repairs could force you to cancel your vacation plans. And if objects of high value have been damaged, your financial situation could become seriously compromised.

The most common type of home insurance coverage provided through ESSOR Insurance is protection in the event of fire and water damage. This includes protection against liability, so you won’t have to pay for damage caused to neighbours’ property. Depending on your needs, ESSOR Insurance can include additional options such as theft protection.

Renters are increasingly being told to take out tenant insurance

Although not strictly a legal obligation, homeowners have the right to require renters to take out tenant insurance before signing their lease agreement. This protection must remain in force over the full term of the lease.