Tenants are often under the misconception that their belongings are covered by landlord’s insurance. This, however, is not the case, says CEO at Simply, Anthony Miller.
Miller says tenants need to have their own own household insurance.
As a tenant I think one is inclined to think that the landlord covers you in an event where there's burglary or fire, that's actually not the case.— Anthony Miller, CEO at Simply
Miller advises tenants to also consider liability insurance in case someone gets injured in the property because you might be held liable.
Insurance is a function of your personal circumstance.— Anthony Miller, CEO at Simply
The important thing is to think of how valuable their possessions are, will you be able to easily replace those possessions in an event where something happens to them.— Anthony Miller, CEO at Simply
To hear the rest of the interview, listen below:
This article first appeared on CapeTalk : If you think your landlord's insurance covers you...think again!