Rental Property &
Income Insurance

Rental property insurance protects you and your rental income from these risks. Let Annex help you protect your assets with the right policy.

For savvy real estate owners, apartment buildings, condo units, or even townhomes and single detached homes aren’t just attractive residences in some of the most coveted locations in Ontario. These are also rewarding financial investments and sustainable sources of income.

Many Canadians acquire a second property, such as apartments, condo units, and even houses, which can easily be flipped and rented out for extra cash, or with multiple investments, provide steady income. But this requires opening up your second home to tenants whose living habits can damage property, or being responsible for building and amenity maintenance or repairs.

The underside of owning a lucrative rental property is the risk that comes with it — most tenants move in as strangers and transform the property into their own living spaces. Combined with high-risk habits, the wear-and-tear of their daily activities could easily damage your property. So, how do you recover your investment and ensure a steady stream of rental income?

Rental property insurance protects you and your rental income from these risks. This comprehensive real estate protection plan equips you with the necessary financial coverage for extensive building repairs or restoration following an accident or disaster. It also shields your income and savings from the financial impact of a liability claim. Rental property insurance protects both your real estate investment and long-term income. Rental Property Coverage:

• Dwelling: covers the building or house structure, as well as additional detached structures like a garage, deck,
  fence, or shed from the most common perils such as fire, wind, and smoke. An upgraded all-risk policy is also
  available for extended risk coverage.
• Personal property: tenants are responsible for their belongings, such as furniture and appliances they bring.
  However, everything else on the property, such as furnishings in shared amenities, is covered for repair or
  replacement under the rental policy.
• Liability: this covers the cost of legal fees and settlements in case of liability claims for injuries and
  property damage suffered by a third party on your rental property.

At Annex, our brokers are committed to helping you reap the rewards of your savvy real estate investment. We work with major Canadian providers to present you with various policy options and tailor coverage requirements according to the size of your property, rental income, and budget. Our goal is to help you earn a stable rental income and secure your financial future with comprehensive rental property insurance. Trust our brokers to advocate for you and your rental unit, thanks to a smooth recovery from property damage and income losses.