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.
June storm in Ontario tops $30 million in insured damage
Insurance Bureau of Canada reports that the insured damage caused by the heavy rains and strong winds that swept southern Ontario on June 22 is estimated at more than $30 million, according to the preliminary estimate by Catastrophe Indices and Quantification Inc.