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.
Most Canadians wrongly believe the government will cover earthquake damage
According to a recent survey by Square One, virtually all Canadians correctly assume that earthquakes can occur anywhere in the country. But a majority wrongly believes the government will provide financial assistance for earthquake damage.