Don't lose your shirt—get insured for less than 65¢ a day - Because home insurance covers more than just your home

LÉVIS, QC, June 27, 2012 /CNW Telbec/ - It's a warm, sunny day—perfect weather for a bike ride. And bam! You swerve to avoid a rock, slamming into the door of a nice convertible. So much for your beautiful, brand new bike. You're no worse for wear, but the bike is totaled... and the door needs replacing.

An everyday situation like this can be costly for the one third of Quebec tenants between the ages of 18 and 34 without home insurance. According to a survey commissioned by Desjardins General Insurance, in Quebec, 35% of people in this age bracket (versus 23% for the rest of the population) do not insure their apartments.

The study revealed three main reasons why these respondents had not insured their property: thirty-one percent said it had never occurred to them, 30% of them find the premium too high, and 18% believe they don't own enough valuable property. However, many of these people would be surprised to learn that for less than 65 cents a day, you can insure all your property while taking advantage of coverage that comes in very handy when you have to replace a damaged door and purchase a brand new bike.

"Keep in mind that home insurance is not only going to help policyholders replace their own property in the event of damage—it will also cover them for any damage they or their dependents may cause to other people's property. This is what is known as civil liability, and it's included with our home insurance policies," explains Denis Côté, Vice-president of marketing at Desjardins General Insurance.

The survey also indicates that nearly half of uninsured tenants age 18 to 34 are not familiar with civil liability. "It is important to understand that if you are not protected by home insurance and you are responsible for any major damage, your financial health and that of your loved ones will automatically be threatened, long into the future," Mr. Côté emphasizes.

It makes sense that if you are responsible for your bike, you are also responsible for any damage you cause if, for example, your apartment catches fire and destroys the entire building or a good part of it. And in such cases, tenants can be responsible for mind-boggling repair and reconstruction costs.

Making a property inventory

When you take a look at what you own, you will definitely start to realize how much it would cost to replace it. So why not take advantage of Moving Day on July 1 to inventory your property? The Insurance Bureau of Canada (IBC) has developed a form to help you do just that ( Note that during a move, property is covered from point A to point B.

Among insured tenants, the average claim for theft is $2,500, the average claim for fire damage is around $10,000, and the average civil liability claim is over $8,000. "And remember that when a policyholder is forced to relocate because of damage, living expenses are covered," explains Mr. Côté.

About Desjardins General insurance Group

A subsidiary of Desjardins Group, Desjardins General Insurance Group provides home and auto insurance to consumers across the country and commercial insurance to businesses in Quebec. With over 3,700 employees across Canada, a portfolio of more than 2 million policies in force, gross written premiums of $1.9 billion and assets of approximately $4 billion, DGIG ranks among the largest P&C insurers in Canada.

About Desjardins Group

Desjardins Group is the leading cooperative financial group in Canada with assets of $196.4 billion. Drawing on the strength of its caisse network in Quebec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.6 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country and among Canada's Top 100 Employers for 2012TM, Desjardins is supported by the skills of its 44,645 employees and the commitment of nearly 5,400 elected officers. A new education and cooperation program is now available to Desjardins members and the general public. For more information, visit


For further information:

(for journalists only):

Caroline Phémius
Media Relations
Desjardins Group
514-281-7000 or 1-866-866-7000, ext. 7646


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