Acera Insurance’s Cassie Ayers, Team Leader, Personal Insurance, and Danielle Russell, Director, Real Estate, spoke with The Key magazine (spring 2025) to break down the insurance responsibilities of tenants who rent a strata unit.
Many tenants mistakenly believe they are covered under their landlord’s insurance. This is not the case. Renters must obtain their own tenant insurance policy to ensure their personal belongings and liability are protected.
It is a tenant’s responsibility to secure tenant insurance to ensure they have the necessary coverage for their personal belongings, personal liability and additional living expenses. Tenants must also do their part to minimize damage to the unit they’re renting, as well as the strata building, to avoid insurance claims.
How tenants, landlords and councils work together in protecting a strata
As Cassie and Danielle point out in the article, there are three key players in a strata community — and they each have specific insurance obligations.
- The strata council is responsible for maintaining strata insurance.
- The strata unit owner (or landlord) is responsible for maintaining rented owner’s unit insurance.
- The tenant (or renter) is responsible for maintaining tenant insurance.
Strata living is community living, and when all parties [tenants, landlords, strata corporation] fulfil their insurance responsibilities, it creates a safer, more enjoyable and financially secure environment.
Ready to learn more?