Real Estate

Question about tenant insurance

  • Last Updated:
  • Mar 12th, 2019 12:19 pm
[OP]
Newbie
Mar 3, 2019
1 posts

Question about tenant insurance

Hi all, new here with a question. Hopefully I can get some advice.

I am switching car insurance providers and have the option of adding tenant insurance which would reduce the cost. However, I'm currently renting a basement unit and moving to another basement next month. Can't afford to rent anything better.

The unit I'm moving to is better than my current one (it's a walkout and has actual windows!) but like most basement units in this area it is probably not 100% to code.

My question is: if I have tenant insurance for my belongings, how likely am I to be denied in the event of a claim if the unit is determined to be illegal? Is it good to have or would I be wasting money on insurance that won't pay out?

There is plenty of info available about homeowners being denied insurance if they're renting an illegal apartment, but I found little about how the tenant's insurance could be affected. I would definitely prefer to have coverage.

Any input is appreciated!

Thanks
1 reply
Deal Addict
Apr 6, 2008
1807 posts
1150 upvotes
Tenants insurance only covers the contents. Having an "illegal" basement apartment won't affect your belongings. I would for sure get the coverage. In some cases, if you combine tenants and car insurance with the same company, the savings can outweigh the premium as tenants insurance is quite reasonable.

I wouldn't be overly concerned about renting an "illegal" apartment. However, be mindful of things like fire exits/egress windows, smoke/carbon monoxide detectors, and unsafe kitchens. Even if the place is "illegal" I still wouldn't hesitate to contact the fire department if you are missing smoke/CO detectors, after trying the landlord first of course. You have to look after yourself.

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