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More than half of BC renters go without home insurance

June 19, 2012

(Vancouver, BC): One in two of the 750 BC renters who recently contacted Square One Insurance had no previous home insurance. “Initially, we thought that we were just attracting a younger demographic that was buying home insurance for the first time,” says Daniel Mirkovic, President & CEO of Square One. “But now we know that the actual percentage without home insurance is much higher.”

Mirkovic is referring to their findings from a 2-day event earlier this month at the Burrard Skytrain and Vancouver Centre Canada Line stations. After speaking with over 7,000 people, Square One found that 60% of those who rent homes, don’t actually have home insurance. The most commonly cited reasons among this group for not having home insurance include:

“I thought tenant’s insurance would be too expensive,” states Janice Dalupang of Vancouver. “But my new landlord required I have it. So, I did a bit of research and ended up finding a policy that provided me with great protection. Best of all, it only cost me $12.50 a month.”

Most home insurance policies also include coverage for additional living expenses, which is something most renters don’t consider. If your home is uninhabitable due to a fire, for example, your insurance will pay the extra expenses you incur from temporarily living in a hotel. Home insurance protects so much more than just your personal property.

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Established in 2011 and based in Vancouver, British Columbia, Square One Insurance provides Canadians living in urban centres with modern, relevant home insurance. Square One is one of the few providers in Canada specializing in home insurance and offering truly customized policies that can be purchased over the phone and online. For more information about Square One, visit our www.squareoneinsurance.com.