As thousands of Quebecers prepare for Moving Day, have they thought about their insurance needs? - Close to one Quebecer in 10 are renters and do not have renter's insurance

MONTREAL, June 16, 2014 /CNW Telbec/ - With the annual moving day ritual just around the corner, a TD Insurance survey on Quebecers' moving habits indicates that at least 5% of them will be moving on July 1. The survey also shows that 10% of Quebecers are renters and do not have renter's insurance.

When asked to identify which challenges they had to consider when moving, close to half (44%) mentioned finding a place to live; 23% cited financial considerations when renting an apartment or buying a property; while close to one Quebecer in five (18%) said that finding help for their move was a top priority.

Moving may seem to provide an ideal opportunity to review your insurance policy, but the reality appears to be quite different. Sixty-three percent of respondents said they plan to transfer their current insurance policy, 29% plan to shop around for a new one and 8% have no insurance.

The importance of renter's insurance 

"One Quebecer in 10 does not have renter's insurance, even though it is essential if you rent or sublet, whether you are a 30-year-old professional renting a trendy apartment or a 21-year-old student living in a dorm," said Jean Roy, Vice-President, TD Insurance. "Even if people have already moved, it's not too late to take out renter's insurance."

Roy offers the following four tips to help people ensure they get the insurance that meets their needs—particularly for future tenants:

1. If you are student, check whether you are covered by your parents' insurance policy

Whether you are moving into a dorm, on campus or into an apartment, you should check whether your parents' insurance policy contains an exclusion clause based on the student's age, type of dwelling and duration of studies. Coverage may cease if you decide not to go back and live with your parents.

2. Make sure you know what is covered during your move

Sometimes the unexpected happens when you move... and you may end up having to deal with accidents. Have you ever wondered what would happen if a friend dropped your TV in your new living room? Some insurance policies cover these types of risk by temporarily insuring your property when you are outside the insured premises or during your move.

Liability insurance is also very important. For example, what would happen if your mover was injured in your new apartment? New tenants don't realize that they could be liable if someone is injured in their home. "If your landlord does not maintain the balcony properly, that would be considered negligence. However, if certain areas of your apartment are more prone to accidents, you are liable and could be subject to legal action and may even have to pay damages," said Roy.

3. Take inventory and understand your coverage before you move

It is not unusual for people to acquire or get rid of furniture and other items, such as a fridge or a painting for instance. It is important to inform your insurance company of such changes and make a list of everything you own, and take pictures or videos. This will help you if you ever have to submit a claim.

Check with your insurer if you plan to store property during your move to find out if your policy covers items in temporary storage.

Make sure you understand how much your policy will pay you to replace property in the event of a claim—this is the "actual cash value" or "replacement cost." "You should also inform your insurer of any valuables you own such as jewelry, computers or musical instruments, that may require additional coverage," explains Roy.

4. Look for easy ways to save

Many insurance companies offer discounts if you are a non-smoker or your home is equipped with an alarm system, deadbolts and smoke detectors. You may also be eligible for additional discounts if you purchase your home and auto insurance from the same company or through your student or alumni association. You could also increase your deductible to reduce your premium.

About the survey

The TD Insurance survey on Quebecers' moving habits was conducted following an online survey by Léger from May 19 to 21, 2014, with a representative sample of 1,000 Quebecers.

About TD Insurance

TD Insurance offers a wide range of products to help protect customers including credit protection, auto, home, health, life, and travel insurance. With more than 3 million customers, TD Insurance authorized products and services are available through a network of more than 1,150 TD Canada Trust branches, the Internet, and telephone. For more information, visit


SOURCE: TD Bank Group

For further information: Fiona Hirst, TD Bank Group, 514-289-1670,; Mélodie Ménard, Morin Public Relations, 514-289-8688, ext. 239,



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