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According to Statistics Canada, less than half of renters in Canada have renter’s insurance1 (also known as tenant or contents insurance).
We often think of home insurance as protecting the big stuff—like pipes, appliances, and the physical structure of the home or building. If you are renting, your landlord may have his or her own insurance policy to cover these kinds of items. But their insurance will not cover your personal belongings, such as furniture, jewellery, or entertainment equipment. Your landlord’s insurance will also not protect you if someone is injured on your property.
That’s where renter’s insurance comes in. Renter’s insurance could protect you from liability if guests injure themselves in your home. Renter's insurance could also help replace your possessions in the event of a loss or damage due to a covered risk. Speak to an Advisor to see how we can tailor your insurance to fit your needs.
Let’s start by understanding the importance of liability insurance.
Accidents happen and sometimes those accidents can be quite costly.
For example, a candle in your apartment could cause a fire. If that candle affects other units, you may be deemed responsible to pay for damages to your rental unit.
Or, if someone trips and falls in your apartment, you could be held financially responsible for the cost of medical expenses and lost wages.
Liability insurance could protect you in the event of a lawsuit, and help you cover the cost of any damages.
Next you need to understand a few basic terms:
Find the home insurance coverage that best fits your needs
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[spacer height="20px"]1Home Insurance Spending in Canada in 2008, Statistics Canada, 2009, Ottawa, Ont.: Statistics Canada.
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Shrewd students are padding their pockets this week as they capitalize on the free concert coming to Mac at the end of the month.
The TD Pump It Up event has, through the combined effort of student votes, resulted in Diplo, Classified and Keys N Krates playing a free show at the Hamilton Convention Centre this Saturday exclusively for Mac students.
Students waited in line on Nov. 20 for their tickets, which they were eligible for if they voted in the promotion, with preference given to TD members, and some students are turning around and making a tidy profit on their opportunity.
“Selling one ticket with VIP. Message me with offers. Ticket goes to highest bidder,” posted one Mac student on the promotion’s offical Facebook page.
It was just one among many similar postings, as the page’s comments were riddled with more than a hundred such offers, with prices ranging from as low as $25 to heights of $90—which would be all profit.
“By the provincial law, you are technically not allowed to sell a ticket above its price. On the ticket it says zero dollars, so anybody selling a ticket at any price over a dollar or a cent is technically illegal,” said Al Legault, director of campus events.
Ticketholders will be required to present their Mac ID card to gain entry into the event, so ticket scalping will be limited to other McMaster students, but that has not stopped the less than scrupulous entrepreneurial spirit of the student body.
“I think you’re always going to have a black market with tickets. If it’s a ten-dollar event, or a Rolling Stones concert, people are always going to find a way to make money off of it, because of the need. The second that someone needs a ticket, they’re going to want to pay for it,” said Legault.
The sales were not limited to the events page, as likewise offers were being billed on classifieds websites such as Kijiji, where the sellers were not explaining that non-Mac students would be barred from entered the event, creating the possibility of Hamilton citizens being duped of their time and money.
Despite this, the MSU is committed to stem this practice wherever they can. “[The MSU] has been on our social networks. People posting it in ours, we’d remove it right away, so you can’t be selling that. It’s a free event for students,” said Legault.
The act of ticket scalping does not end at Mac, as the universities of Acadia and Moncton, the two other winners of the TD promotion, had comparable amounts of ticket offers on their official event pages.
McMaster is facing off for the second time with Queen’s University for a free concert with Steve Aoki, Dragonette and Young Empires.
The annual TD Pump It Up contest has once again drawn an enthusiastic response from students on Facebook and Twitter. The contest offers three concerts to participating colleges and universities across Canada – one to each of its featherweight, lightweight and heavyweight divisions.
Last year, Queen’s won in the heavyweight division by outvoting McMaster. Both universities boast a tight-knit student community with a strong social media presence.
To vote, students must register on the contest website using their Facebook login or email address.
Currently, the contest site shows it is a tight race between the two universities.
To get to the finals this year, McMaster beat the University of Ottawa and Mohawk College, while Queen’s edged out Langara College in B.C. and Ryerson University.
The contest will close in less than 24 hours, on Monday Oct. 1 at 10 a.m. Those who vote will receive an email with the results when they are available.
