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R.A. Hughes Insurance

Rental Property Insurance Winnipeg

Our rental property insurance services in Winnipeg provide peace of mind for landlords, ensuring their investment is protected. Get the coverage you need today.
Own a rental property in Winnipeg? Rental property insurance, also known as landlord insurance or rental insurance, can protect you.

Rental property insurance protects your rental property, as well as tools, equipment, furniture, and other property you own in and around your rental property. You’ll also be protected from loss of rental income, and certain liability claims.

When you’re renting out your property, it pays to have rental property insurance.
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Why Choose R.A. Hughes?

With almost 100 years of serving St. Boniface and Winnipeg at large, we have the experience you need to find the right landlord insurance policy. We’ve built trusting relationships with countless landlords throughout the city; we know how important it is to insure both your building and your rental income.

Our brokers will have a candid discussion with you about your insurance needs, then diligently search through rental insurance policies to find insurers who suit your needs. We’ll then present you with several quotes for different policies, so you can choose the one that works best for you.
rental agreement

Coverage Details

Rental property insurance—also known as landlord insurance—is a type of property insurance that protects landlords and their rental properties. The coverage offered by rental property insurance can be broken down into four basic categories:
Dwelling building and detached structure coverage protects your rental property, as well as structures around your rental property like sheds, garages, and fences.
Personal property coverage or landlord’s belongings coverage protects your personal belongings in and around the rental property, including furniture, landscaping equipment, and tools.
Loss of rental income coverage replaces rental income that is lost when a tenant cannot live in your rental property due to loss or damage that is covered by the policy.
Liability coverage protects you if you are sued due to unintentional property damage or injury that occurs on your rental property.
Most rental property insurance offers basic coverage; your insurer will list the hazards that are covered by your policy. In some occasions, you can also purchase comprehensive (sometimes called all-risks) insurance, which means that you’re protected against all types of loss, except any losses listed as exclusions. The most common exclusions include:
Flooding
Earthquakes
Water backup
Vandalism caused by tenants
Landlord insurance is designed to cover you, your rental properties, and your personal property in and around those rental properties. The property owned by your tenants is not covered by your landlord's insurance. You should encourage your tenants to purchase tenant insurance, which covers their personal property and gives them access to liability insurance.

Cost of Rental Property Insurance in Winnipeg

The cost of rental property insurance can vary based on a number of different factors, including:
The location of your rental property
The value of your rental property
How the home is constructed, heated, and powered
Your claims history
And more
Landlord insurance premiums vary based on a number of factors, including the level of coverage you purchase and which insurer you purchase coverage from. A typical policy might be anywhere from $80 to $100 per month.

The Winnipeg insurance brokers at R.A. Hughes Agencies will look through a number of different insurance policies on your behalf. They’ll present you with the best options, so you can compare quotes between insurers and find the policy that best suits your needs.

Claims Example

A landlord rents a detached home, valued at $500,000, to 3 different tenants, each of whom pays the landlord $1000 a month in rent. A fire breaks out and burns the house to the ground. The process of rebuilding the house takes 6 months.

The landlord’s insurance policy responds that they have a guaranteed replacement cost policy, so the entire cost of rebuilding the home is covered. Their insurance also includes loss of rental income coverage; the rebuild takes 6 months. The policy covers the lost rental income of $3000 per month (3 x $1000) for 6 months, for a total of $18,000.

Additionally, the landlord’s personal property is covered in the claim. The landlord had $20,000 worth of furniture, tools, and equipment on site.

The landlord has a $1000 deductible on their policy; the total payout is $537,000.

This claim is a simplified example of what landlord insurance claims look like, but it serves to give you an example of why landlord insurance is so valuable.
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Get a Quote Today

Rental property insurance can protect you and your rental home from damage and loss. The brokers at R.A. Hughes work with several different insurance providers; we’ll compare quotes between these providers to find the best policy for your needs.

Book an appointment with us for a free quote today. We will evaluate your needs, assessing how much rental income you bring in, the value of your property, and more. Using this information, we will find an insurance policy that can protect you and your income.
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Secure Your Rental Property Today

Protect your rental property investment with our comprehensive insurance coverage options.

Contact Us for a Quote:

Get in touch with us today to receive a personalized quote for your rental property insurance needs.

Peace of Mind Guaranteed:

Rest easy knowing that your rental property is in good hands with our reliable insurance coverage. Trust R.A. Hughes for all your insurance needs.

Frequently Asked Questions about Rental Property Insurance in Winnipeg

What Affects the Cost of Rental Property Insurance?

As a rental property owner, you're always balancing costs and benefits, so it makes sense to analyze the factors that affect how much landlord insurance costs. There are several things that can affect the cost of rental property insurance, including:

  • The location of your rental property
  • The value of your rental property
  • How the home is constructed, heated, and powered
  • Your claims history
  • And more

Upgrades to your rental property can lower the cost of landlord insurance; be sure to let your broker or insurance provider know if you make any improvement to your rental property.

How Can I Save on Rental Property Insurance?

You can save money on rental property insurance by:

  • Using an insurance broker to compare prices between home insurance companies
  • Eliminating unnecessary coverage
  • Increasing your deductible
  • Bundling your insurance coverage
  • Staying claims-free
  • Securing your rental property with alarms, smoke detectors, and other security systems
  • Getting discounts for certain home improvements
  • Eliminating liability risks by tending to your home
  • Updating your rental property’s appliances, roof, and other features
  • And more

Experience the R.A. Hughes Advantage

For over 90 years, families and businesses across Manitoba have relied on R.A. Hughes Insurance for comprehensive protection and personalized guidance. As an established local presence, we take pride in building long-lasting relationships founded on trust and a deep understanding of our clients' unique needs. Don't leave your future to chance - partner with our experienced team today.
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