Comprehensive Rental Insurance Coverage for Alberta Landlords
Properties in Alberta vary, and so do the challenges they present. MMI Insurance offers flexible rental property insurance for houses, duplexes, and apartments. Landlords can select the coverage that suits their needs, tailoring their policy to cover major risks.
Your investment is protected from major repair expenses, legal liabilities, or extended vacancies. We don’t offer one-size-fits-all solutions; every plan is unique. Our rental insurance ensures nothing is overlooked.
Fire Protection
In Canada, over a quarter of all residential fire deaths are caused by cooking or smoking. Kitchens and living areas are the most common ignition points. A spark from hot oil or a faulty wire can ignite a fire in minutes, making rented dwelling fire insurance crucial for Alberta landlords.
Our rented dwelling coverage includes protection for structural damage and built-in fixtures, such as kitchen cabinets and electrical wiring. In the event of a fire, it helps reduce significant out-of-pocket expenses, easing the financial burden on landlords during the recovery process.
Liability Coverage
Accidents happen. If a tenant slips on a step or a visitor trips over loose flooring, landlord liability insurance helps protect you from legal claims and settlements.
Rental Income Loss
If a flood, fire, or property damage makes your unit uninhabitable, rental income stops while your expenses keep going. With MMI Insurance, loss of rental income insurance is an additional coverage that you will want to add to the rented dwelling coverage, helping replace your lost income during the repair period.
Additional Structures Coverage
Your rental property includes more than just the main building. Detached garages, sheds, and workshops are also valuable, which is why we include them in our rented dwelling coverage. This ensures comprehensive protection without leaving any important structures exposed.
Detached structures are not automatically included in the amount of insurance that is provided on the dwelling coverage for rental properties therefore it is important to discuss these structures with your advisor. Detached Private structures can be insured on a Replacement Cost Basis.
Landlord-Owned Content
If you leave appliances or other items such as fridges, stoves, or lawnmowers at the property, it’s essential to ensure they are properly protected. Landlord liability insurance can help cover these landlord-owned assets, safeguarding your investment.
Personal Property (Contents) – A limit of insurance for contents is not automatically included in the amount of insurance that is provided on the dwelling/mobile coverage for rented properties. e.g., washer/dryer; stove; drapes etc. Contents can be insured on a Replacement Cost basis.
In the event of a fire, rented dwelling fire insurance helps cover the cost of replacing any damaged appliances. Keep in mind that tenant-owned belongings are excluded; only tools and appliances provided by the landlord are included. Knowing exactly what your policy covers can help avoid unexpected gaps and provide peace of mind during a claim.
