Whether you rent an apartment or live in a home or condo you own, you should have insurance coverage to compensate you for a loss due to fire, theft, vandalism or other cause. You should also have liability insurance in case you did or neglected something which caused a loss to others.
Property insurance, including the home, is much broader and covers many of the things you own – your electronics, art, jewelry, clothing, tools, etc. – against many types of loss in different places, such as the theft of a suitcase from your car, for example.
While equipping your house with smoke detectors continues to be the best way to prevent a fire from damaging your home, there are other steps you can take to prepare protect against fire. This Fire Prevention Week, Insurance Bureau of Canada offers Canadians its top 10 safety tips.