CH Living is Your Trusted Regina Property Management Company With The Best Regina Apartments For Rent! CH Living takes big steps to make their properties a great place to live and call home. They want your Regina apartment rental experience to be positive and long-lasting. Many of their buildings are conveniently located in downtown Regina. The focus of the CH Living Team is on renovations, preventative maintenance, quality materials, and communication. In this article, they shine the spotlight on one of their Regina Properties with apartments to rent Willowcrest Apartments.  

CH LIVING PROPERTY SPOTLIGHT - WILLOWCREST APARTMENTS

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 CH Living is Your Trusted Regina Property Management Company

Trusted Regina Insurance experts at Campbell and Haliburton Insurance Inc have been in the community for over 50 years. They know it is customer service and knowledge that counts when you are in need of an insurance company in Regina. Campbell & Haliburton Insurance, myCH.ca, dedicated insurance brokers in Regina can assist you with finding the plan that works best for you. In their latest Trusted Regina Insurance Tip, they share what you need to know about renter's insurance.

Renter’s Insurance: Everything You Need to Know by Campbell & Haliburton

You have found a place to rent. Fantastic! You have arranged for movers (whether professional or friends to help). Great! You have even downloaded an app to help you decide how to arrange your furniture. Fun! But what about renter’s insurance?

Renter's Insurance

Renter's Insurance, sometimes called tenant insurance, can sound scary, complicated, and worse still expensive. But it does not need to be all that difficult. And often people find it to be less expensive than they first thought.

At Campbell & Haliburton Insurance, myCH, we can help unravel the mystery of renter’s insurance. Most renter’s insurance policies will protect you in two important ways – both your contents and your liability.

Caveat: There are a number of insurance companies that sell renter’s insurance here in Canada. There are similarities between them but also differences. This is not designed to be the definitive word on what each individual policy covers. Rather it is designed to provide a “broad brush” overview of what renter’s insurance does. For specifics on what your policy does, and does not provide, please speak with your broker or agent.

Contents Insurance

The first thing that renter’s insurance does is protect your belongings. There are two major questions that you need to answer when arranging contents insurance.

1. How Much Insurance Do I Need?

This can be a difficult question to answer. After all, most people do not purchase all their belongings at once. We acquire them over time, some new, some second hand. It can seem like an impossible task to come up with how much you have spent on your “stuff”.

When figuring out the amount of insurance that you need – ask yourself the question, “If I needed to buy everything brand new, what would it cost?” Most renter’s insurance policies are based on “replacement cost.” Replacement cost means the amount that it would take to purchase what you had with brand new items.

Many people fall into the trap of thinking, “But my things are old; they are not worth that much.” That may be true, but when it comes to insurance ask the question: "What would it cost if you needed to go on a shopping spree and buy everything brand new?" When thinking of this, remember that most policies will allow you to purchase the same kind and quality as what you had. So, if that old couch is very well made you would be able to purchase the same quality of couch in the event of a claim.

Many insurance companies have a minimum amount of contents insurance that they will provide, for example, $30,000 is quite common. Would that amount be enough? It is a good starting point, but everyone has a unique set of belongings and everyone has a different set of needs.

One tool that is available is a record of your belongings. This can be found on SGI's website. While it is not strictly necessary to complete a record like this, it is a valuable tool in determining how much insurance you need.

2. What Kind of Insurance Do I Need?

Once you have determined how much insurance you require, the next question to ask is what kind of insurance best meets your needs. There are essentially two different types of contents insurance: a more basic form of insurance and more comprehensive insurance.

Named Perils Insurance

The first form of insurance is named perils. It has different names depending on the insurance company. It may be called Pak I or Broad Form. Each company has a different name. So please do not rely on the name, make sure that you understand what it actually provides.

As the name implies, “Named Perils” provides insurance for a specific number of perils. A peril is an event that is unexpected and accidental.

 Common named perils would include:

Fire

Lightning

Explosion

Smoke

Falling Object

Impact of Aircraft, Spacecraft of Land Vehicle

Wind/Hail

Water Escape

Vandalism

Theft

For a named perils policy to respond, one of the specifically listed named perils would have needed to occur. If something other than one of the specially listed things happened there would be no insurance. Named Perils policies often specifically define some of the terms and restrict what is, and is not, covered by them.

Comprehensive Perils Insurance

The second form of contents insurance is comprehensive insurance. As the name implies, this is a much broader form of insurance than is named perils.

Named Perils Insurance specifically tells you what is covered, Comprehensive Insurance tells you what is not covered. It is often called all-risk insurance as it covers all risks except those specifically excluded.

Typical exclusions would include:

• Flooding
• Seepage
• Exclusions when the property is vacant
• Pet Damage
• Normal Wear and Tear

There are some day-to-day advantages of comprehensive insurance over named perils.

• The first is a philosophical difference. With named perils insurance the onus is on the insured (person who purchased the insurance) to show where something is covered. With comprehensive insurance that responsibility is shifted to the insurance company. Unless they can point to a specific exclusion, the insurance company must pay the loss.
• Accidental Damage – Comprehensive Insurance typically provides insurance for accidental damage whereas named perils does not. For example, if a person dropped a big-screen television or spilled a glass of red wine on the couch most comprehensive insurance policies would provide coverage whereas named perils would often not.
• Mysterious Disappearance – Named Perils policies typically cover if things are stolen, but not if they are lost. Comprehensive insurance often covers loss as well. If your diamond ring goes missing or the gem falls out of it comprehensive insurance would usually respond and pay the claim where named perils would likely not.
• Smoke – Some named perils policies provide very restrictive coverage for smoke damage. Comprehensive Insurance provides much better coverage for things like candle smoke.

So which policy is better for you? Comprehensive insurance is a significantly better policy than a Named Perils policy is. Typically, the price difference, on a renter’s policy, is not that much between the two. If your budget allows for it, we recommend Comprehensive Insurance.

With renter’s insurance, as with most kinds of insurance, there are a few things to be aware of:

• Insurance policies carry with them a deductible. A deductible is a portion that you must pay in the event of a loss. For example, if you have a $500 deductible you would be responsible for any amounts up to the first $500 of any claim.
• Whenever you file a claim you can expect to see your premium increase.
• Most policies have specific items that they put limits of insurance on. For example, there are maximums that will be paid out for things such as jewelry, stamp or coin collections, or bicycles to name a few. We recommend that you review these with your broker or contact one of our helpful insurance brokers at Campbell & Haliburton.

Liability Insurance

Liability Insurance protects you if others are harmed due to your negligence. Liability insurance has two “triggers” that they use.

• Bodily Injury – Someone gets injured because of what you did or did not do. Suppose you are renting a house and are responsible for keeping the sidewalk shoveled and safe. But if someone slips on the ice and is injured you might be found by the courts to be liable. Your renter’s insurance provides liability insurance to protect you in this situation.
• Property Damage – Provides coverage when there is damage to someone else’s property due to your actions. For example, if you are cooking and cause a fire the landlord might want you (or your insurance company) to pay for damages to their house.

Liability Insurance is generally included in a renter’s insurance policy.

A few things to think of:

• Cost – In Canada, liability insurance on a renter’s policy is relatively inexpensive. Many policies provide you with $1,000,000 of liability insurance. However, the cost to increase this is generally very low. Since liability insurance is designed to protect you from potentially catastrophic events, we recommend increasing the amount of liability insurance.
• The Fine Print – Some liability insurance policies provide restrictions on when it will pay out. We strongly recommend that you speak with your insurance broker to ensure that you are aware of any limitations.

Renters insurance is a relatively cost-effective way to not only protect yourself in the event the unthinkable happens.

Are you ready for a personalized insurance quote? Our easy user-friendly website makes this both easy and convenient. Do you need more information? Please contact Campbell & Haliburton, one of our expert insurance brokers. If you don’t have an insurance broker and want to talk to someone who is truly passionate about your insurance, contact us at Campbell & Haliburton Insurance. We would love to talk to you.

- Daryl Arendt, Office Manager & Licensed Insurance Broker

Our Trusted Regina Insurance Agents at Campbell & Haliburton have your best interests and safety in mind and our commitment to customer service is one of the pillars of our business. We also know insurance inside and out, so please contact us for all of your insurance needs and we will be more than happy to help ensure what you value most is protected.

Campbell & Haliburton's doors opened in 1957.  Since then, they have seen run-away inflation, recessions, and now, a global pandemic. Through it all, their doors have remained open as they are committed to providing outstanding service to you. No matter what the next years and decades bring they have committed to continue to stay open to serve you.

Campbell and Haliburton Insurance are a Trusted Regina Insurance provider.

They offer many different insurance policies to protect the most important areas of your life including:

• Home Insurance

• Auto Insurance

• Condo Insurance

• Tenant Insurance

• Farm Insurance

• Commercial Insurance

• Life Insurance

• Travel Insurance

Campbell & Haliburton are a Trusted Regina Insurance Provider.

When looking to buy, sell, or refinance a property, you need to hire somebody who is not a stranger to addressing the real estate needs of individuals and families. Robert MacKay is the man to call. ROBERT MacKay is your TRUSTED REGINA REAL ESTATE LAWYER!

Buying a home can be a stressful but exciting time. Robert Mackay,  our Trusted Real Estate lawyer cautions about some potential scams when buying your home! 

Real estate fraud can cause you to have large financial losses. If you are a victim of real estate fraud you may find out that you no longer own your home or that there have been additional mortgages taken out in your name.

There are two main types of real estate fraud that may result in financial loss: 

Title Fraud 

Title fraud happens when the title to your home is stolen, and then the fraudster sells the home or applies for a new mortgage against it. Title fraud usually starts with identity theft, which can happen if somebody steals your personal information.

"Title insurance" is the best protection against this type of fraud. As well as protecting against title fraud, it also guards a new owner from against existing liens against a property's title (such as unpaid debts from utilities, mortgages and unpaid property taxes), encroachment issues (a structure on a property needs to be removed because it is on your neighbor's property) and errors in surveys and public records.

Foreclosure Fraud 

Foreclosure fraud usually happens when you are having problems making your mortgage payments. You may be tricked into transferring your property title to somebody to get a loan that will help you make your payments. Fraudsters usually keep the payments you make and also possess the title to your home, which they can resell or remortgage.

Two common scams that exploit a victim's need for cash are foreclosure fraud and home-equity fraud.

Cash-crunched property owners or investors seeking can be vulnerable to other scams or unscrupulous behavior to tap equity. There is always risk when leveraging properties, but a legitimate bank, broker or private lender should be forthright when explaining risks. However, those looking to borrow on equity should be alert for less scrupulous lenders, such as those who invite owners to embellish their application by exaggerating income, down payment or property assessment value sources in order to secure a larger loan.

Other types of scams you should be aware of include

Online rental/sale scams.

In these scams, rental property is advertised (usually at low costs) on online classified sites like Craigslist or Kijiji. The ads use information and photos describing the property that has been "scraped" from legitimate ads, such as those on the MLS. A scammer will impersonate the landlord, property manager or estate agent and will respond to emails and calls from prospective tenants. The scammer indicates he or she is unable to meet a prospective renter at the property, and instead proposes a meeting off site to exchange keys, sign a tenancy agreement and collect rental deposits. Victims may only learn they've been duped when they show up at a property to discover that it is already occupied.

Things to be alert for in such listings include claims of urgency, such as "must sell now," promises of high returns or "low-cost/no-cost" financing. These sort of claims are usually too good to be true, and they also can be prevalent in off-line scams.

Property investment seminars and courses.

Educating yourself about property investment can be essential for success, but prospective investors should be alert and do their research on seminar providers. There are legitimate speakers and seminars that provide beneficial information, others exist primarily to take money from the credulous … and there are some that are in between.

One common type of seminar is designed to hook buyers into "sure-fire" investments that are promoted by the seminar hosts. Potential investors may be invited to these seminars through an ad in a newspaper or magazine, a phone call, an email or other method. These seminars may include a motivational speaker, an "investment expert" or a "self-made millionaire."

The basic advice, be skeptical of claims and do your due diligence before committing any money to an expensive course or investment.

Remember there are no get-rich-quick schemes: the only people who make money are the scammers.

For more questions and help with any legal property issues consult with our Trusted Regina Real Estate Lawyer Robert MacKay

Here is a list of more consumer tips by Robert MacKay 

• Trusted Regina Real Estate Lawyer Robert MacKay warns about the potential implications of renting your property.
• Robert MacKay your Trusted Regina Real Estate Lawyer expert explains how CRA may penalize you if you fail to report it.
• Trusted Regina Real Estate Lawyer Robert MacKay asks: Do you know what kind of mortgage you have?
• Robert MacKay Trusted Regina Real Estate Lawyer expert tip on Buying Farmland
• Robert MacKay Trusted Regina Real Estate Lawyer expert tip on choosing a Regina real estate lawyer
• Robert MacKay Trusted Regina Real Estate Lawyer expert tip on GST & Acreages
• June is Credit Score Month and our Trusted Regina Partner Robert MacKay want's to help you understand the importance of your credit score.
• Robert MacKay your Trusted Regina Real Estate Lawyer expert tip on buying property at the lake
• Robert MacKay your Trusted Regina Real Estate Lawyer expert shares a tip on Legal Fees
• Robert MacKay Trusted Regina Real Estate Lawyer shares a Tip about Title Insurance

When looking to buy, sell, or refinance a property, you need to hire somebody who is not a stranger to addressing the real estate needs of individuals and families. Robert MacKay is the man to call. ROBERT MacKay is your TRUSTED REGINA REAL ESTATE LAWYER!

Our Trusted Regina Real Estate Lawyer Robert MacKay want's to ensure Landlords are fully aware of the financial and legal issues that can arise from criminal activity conducted by a tenant.  

A recent article from the Star Phoenix "Regina landlords lose bid to make insurer pay for drug-house explosion" details how a local landlord attempted to gain compensation for the home from the insurance company.  The insurance company had denied their claim and pointed to a 2003 notice posted in a renewal package that stated simply: “We do not insure property used for the illegal cultivating, harvesting, processing, manufacturing, distributing or selling of marijuana.”

Even though the landlords claimed they took all reasonable steps to screen the tenant and his partner, who had children and were otherwise “model tenants.” There was simply no way for them to know the tenants were surreptitiously running an illegal drug operation in the home, they argued.  However, Court of Queen’s Bench Justice Richard Elson rejected those arguments stating "changes to the policy were hardly “buried.” They came highlighted in a special box on the front page of the renewal form". Further, he noted that renting always carries an element of uncertainty — and landlords should be prepared for the worst.

How can a landlord limit responsibility for a crime committed by strangers on the rental property?

Screen tenants carefully and choose tenants who are likely to be law-abiding and peaceful citizens. Weed out violent or dangerous individuals to the extent allowable under privacy and anti-discrimination laws that may limit questions about a tenant's past criminal activity.

• Don't accept cash rental payments.
• Do not tolerate tenants' disruptive behaviour. Include an explicit provision in the lease or rental agreement prohibiting drug dealing and other illegal activity and promptly evict tenants who violate the clause.
• Be aware of suspicious activity, such as heavy traffic in and out of the rental premises.
• Respond to tenant and neighbour complaints about drug dealing on the rental property. Get advice from police immediately upon learning of a problem.
• Consult with security experts to do everything reasonable to discover and prevent illegal activity on the rental property.