Saturday, March 9, 2013 Ottawa -- A fire destroyed an apartment building on Barrette St. in Vanier shortly after midnight Friday, March 8, 2013. The fire is believed to have started in one unit and spread up the rear of the building. The building is a complete loss and damage has CHRIS HOFLEY/OTTAWA SUN/QMI AGENCY
Saturday, March 9, 2013 Ottawa -- Nicholas Adams, 27, stands outside his burned out Barrette St. apartment building following an early morning blaze Saturday, March 9, 2013 at the Vanier building. Adams awoke to the smell of smoke and alerted his neighbours of the fire before leaving the building. The three-storey complex is a complete loss and damage has been estimated at $1 million. CHRIS HOFLEY/OTTAWA SUN/QMI AGENCY
Saturday, March 9, 2013 Ottawa -- A fire destroyed an apartment building on Barrette St. in Vanier shortly after midnight Friday, March 8, 2013. The fire is believed to have started in one unit and spread up the rear of the building. The building is a complete loss and damage has CHRIS HOFLEY/OTTAWA SUN/QMI AGENCY
Saturday, March 9, 2013 Ottawa -- A fire destroyed an apartment building on Barrette St. in Vanier shortly after midnight Friday, March 8, 2013. The fire is believed to have started in one unit and spread up the rear of the building. The building is a complete loss and damage has CHRIS HOFLEY/OTTAWA SUN/QMI AGENCY
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It?s cheap and easy to get, but few Canadian renters bother signing up for tenants? insurance.
According to Statistics Canada, more than half of renters in the country don?t have the protection to help them replace their belongings in the event of a fire, flood or other disaster.
It?s hard to pin down exactly why those with renters? insurance are in the minority, but it can likely be chalked up to confusion about what is covered by the building?s owner.
Water damage and fire are behind the loss of property for people like Nicholas Adams, who stood helpless outside his Vanier apartment Saturday as firefighters doused remaining hotspots in the burned out three-storey building.
?It?s all (gone) I think,? he said, surveying the partially collapsed roof of the building.
Damage to the building has been pegged at $1 million.
The owner of Adams? building almost certainly has insurance, but that won?t do the tenants much good, according to insurance company Rhodes & Williams Ltd.
?(Owners may) have insurance coverage for certain items inside your rental unit, such as the carpets, light fittings and appliances,? the company states on its website. ?Your landlord?s insurance will not cover your personal belongings. Your furniture, jewelry, artwork, entertainment equipment and other valuable belongings will not be protected.?
Adams? didn?t have insurance and doubted anyone else in the building did either.
Others agree the idea of buying insurance for a place you don?t own is often not thought about until after a tragedy.
?I think it?s an afterthought for most renters, it was for me, anyway,? said Devon Babin, who rents an apartment in Centretown. ?It?s sad that it takes such a tragic reminder for me to get insurance on my valuables.?
Getting insured as a renter is a cost effective way of getting some peace of mind. A few minutes spent on various insurance companies? quote generator, and the Sun found tenant insurance went for between $13 and $25 per month, which comes out to $150 to $296 a year, depending on the area and the type of property you rent.
To help victims of Saturday?s fire, Montreal Rd. diner Bobby?s Table is collecting gift cards to help the displaced get back on their feet. They restaurant is also accepting empty bottle donations and will use the refund money for additional gift cards.
The cause of the fire remains under investigation.
Twitter: @chrishofley
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Source: http://www.ottawasun.com/2013/03/10/renters-often-dont-have-insurance
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