OLA in the News: Do Renters Need Insurance?

[Inky]

I can't remember back in the stone age, when we first got married and rented an apartment, whether or not we had insurance. We probably did because my husband is a little obsessive about stuff like that, but I know we didn't have much of any value, so I can see why a young person without many possessions (or a lot of second hand stuff) might not think it necessary.

And if they were responsible for a leak, or fire, unless they had some assets worth going after, it wouldn't help the landlord any to sue them.

Its just too bad that the laws surrounding renting with/without tenants insurance weren't clear and concise.

[zerg]

Unfortunately, you can't legislate common sense.

What happened to me happens every day. I didn't share for pity, but for the educational value. It's just stuff, and I'm not scared. They come back, I'm ready.

former advertiser

The problem is that "common sense" isn't that common, hell, "sense" isn't even a given! Legislation creates a way for oversight to force what "should" be common sense, or at least, what is common to them. When many disagree with it, it only further highlights that it's wholly subjective, and there will never be a time when everyone is happy with it.

[Skitter]

The benefits of having tenant insurance should be explained in the flyer the LTB requires landlords to give new tenants.

How about it Lillian Ma................dont you think that is information that tenants should have??

Dont you think you should add it?

[Openborders]

Poorly written article and bizarre manipulative posts here.

Reality is tenants don't need contents insurance to be compensated in case of fires and other events. Under the Residential Tenancies Act, if the fire isn't the renter's fault, the landlord will be responsible for providing compensation for lost contents.

Sorry for destroying the "truthiness" that goes on in this forum.