VANCOUVER, June 19, 2012 /CNW/ - One in two of the 750 BC renters who
recently contacted Square One Insurance had no previous home insurance.
"Initially, we thought that we were just attracting a younger
demographic that was buying home insurance for the first time," says
Daniel Mirkovic, President & CEO of Square One. "But now we know that
the actual percentage without home insurance is much higher."
Mirkovic is referring to their findings from a 2-day event earlier this
month at the Burrard Skytrain and Vancouver Centre Canada Line
stations. After speaking with over 7,000 people, Square One found that
60% of those who rent homes, don't actually have home insurance. The
most commonly cited reasons among this group for not having home
I don't have a lot of things to protect.
You might think your personal property isn't worth a lot, but when you
add up the cost to replace all your belongings with new ones, you may
think differently. Even the cost to just replace your clothes and shoes
could surprise you.
Home insurance is too expensive.
For renters, the cost of insurance depends on the value of your personal
property. For lower limits of personal property, policies are available
for as little at $10 a month. And, you can reduce your monthly premium
further by increasing your deductible.
Liability? Nothing could ever happen to me.
While we all like to think that our friends would never sue us or
accidents won't happen, are these risks you want to take? If you lose
control while you're skiing, and crash into someone, you can cause
serious injury, possibly resulting in a lawsuit for your negligence.
"I thought tenant's insurance would be too expensive," states Janice
Dalupang of Vancouver. "But my new landlord required I have it. So, I
did a bit of research and ended up finding a policy that provided me
with great protection. Best of all, it only cost me $12.50 a month."
Most home insurance policies also include coverage for additional living
expenses, which is something most renters don't consider. If your home
is uninhabitable due to a fire, for example, your insurance will pay
the extra expenses you incur from temporarily living in a hotel. Home
insurance protects so much more than just your personal property.
Established in 2011 and based in Vancouver, British Columbia, Square One
Insurance provides Canadians living in urban centres with modern,
relevant home insurance. Square One is one of the few insurance
providers in Canada specializing in home insurance and offering truly
customized policies that can be purchased over the phone and online. For more information about Square One, visit www.squareoneinsurance.ca.
SOURCE Square One Insurance Services Inc.
For further information:
Square One Insurance Services Inc.
Tel: 778.331.6933 ext 104