No Insurance for Young Tenants

Most young people all over Canada ignore the importance of having proper insurance for their rented place. According to a study conducted by TD Insurance, 47% of tenants in Canada who are 35 years old and below do not have any renter’s insurance.

Young people, especially the students who are on a tight budget, choose not to have any insurance for their place. But the effect of being uninsured could be greater than the insurance premiums. Because of the increasing value of books, gadgets, and designer clothes, they would have difficulty replacing these things in case they get damage by water, smoke, or fire. Looking for an alternative home to stay while repairs are going on is another potential expense on a young person’s budget.

To know more about the importance of home insurance, click here.

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