Why should I purchase tenant insurance?

The purpose of insurance is to protect yourself and your family from unexpected events that may occur when we least expect it and which may cost a lot to handle. Ask yourself the following questions and you will better understand why insurance is something you need:

• How would I get the money to replace all of my lost personal possessions if an unexpected event, such as a fire, destroyed my home?
• If my negligence causes a fire, which also destroys my neighbour’s property, or the entire complex I live in, and I am sued, how would I pay for my legal expenses?

IMPORTANT NOTE: You should be aware that many leases contain a clause requiring the tenant to purchase insurance to protect their personal property (furniture, clothing, appliances, TV, etc.) and liability. Because your lease is a legal contract, not complying with its terms can lead to more serious complications for you and your family.

Who is eligible for SoHo Tenant Insurance?

If you are a social housing resident in Ontario, or a recipient of OW or ODSP benefits, and you pay your premiums, you are eligible for coverage. This insurance program is not dependent on your income or postal code – you won’t be rejected because of how much you make or where you live.

What options for coverage are available?

There are two insurance options to choose from:

Option 1: Up to $10,000 of personal possessions (paid on an Actual-Cash-Value basis, which is the value of your contents at the time of loss, NOT the cost to purchase new items to replace old items).

• Up to $2,000 for additional living expenses if your residence is uninhabitable due to an insured loss
• Up to $300 deductible per occurrence
• Up to $500,000 in liability coverage, including your legal defence and settlement costs, if you are sued as a result of a negligent act or omission on your part.

Option 2: Up to $20,000 of personal possessions (paid on an Actual-Cash-Value basis, which is the value of your contents at the time of loss, NOT the cost to purchase new items to replace old items).

• Up to $4,000 for additional living expenses if your residence is uninhabitable due to an insured loss
• Up to $300 deductible per occurrence
• Up to $1,000,000 in liability coverage, including your legal defence and settlement costs, if you are sued as a part of a negligent act of omission on your part

What coverage is best?

You can decide on what is your best coverage based on the value of your personal property. Once the value of your personal property is determined, pick the insurance option that most closely reflects the value of your belongings:

• If the value of your personal property equals $10,000 or less, select Option 1.
• If the value of your personal property equals $20,000 or less, select Option 2.

What is the cost of SoHo Tenant Insurance?

Option 1: Monthly = $40 deposit plus 9 monthly payments of $15.65 each (includes tax), 1 year = $155.52 ($144.00 + 8% tax)

Option 2: Monthly = $40 deposit plus 9 monthly payments of $21.50 each (includes tax), 1 year = $207.36 ($192.00 + 8% tax)

IMPORTANT NOTE: When writing your payment cheques, please do not round the cost up to an even number. The amount shown above is the exact amount to be paid.

How do I get an application?

You can get an application from any of the following:

1. From your housing provider
2. On the SoHo website
3. Call 1-877-733-7472 and ask for an application to be mailed, faxed or emailed to you

What address do I put on the application?

The address on the application must be the address you are insuring. If you would like to have your certificate of insurance sent to a different address, such as your current address if you have not moved yet, provide the address on a separate covering letter.

Who is the secondary applicant?

It is a partner or other person living with you. Only 2 applicants are allowed per application.

Where do I send my completed application?

Send your application to one of the following:

Mail: SoHo Insurance
390 Bay Street, Suite 705
Toronto, ON M5H 2Y2

Fax: 416-360-3711

Email: tenant@sohoinsurance.ca

IMPORTANT NOTE: Payment must be submitted with your application form.

What is the fastest way for me to get insurance in place so I can move into my new accommodations?

The fastest way to submit documents is by fax, or to scan and email them. Payments made by credit card, or electronically through a major bank, are generally processed the next business day.

How long does it take to process my application?

Applications are processed once the payment has cleared the bank or credit card company. It generally takes 1-2 weeks to process an application. Please make sure you allow yourself enough time to apply before you need your certificate.

Can I complete the application form and pay later?

No. Payment must accompany the application form. If the payment is not attached, the application will not be processed and you will not be covered.

How do I know when I am insured?

SoHo will send you a certificate of insurance. It will have a certificate number unique to you on it, which you will use if you ever need to make a claim.

Will SoHo provide confirmation of my insurance to my housing provider (I cannot sign my lease or pick up my keys without confirmation of insurance)?

Your certificate of insurance is proof that you have insurance through SoHo We ask that you apply for SoHo insurance well in advance of your move-in date. If you have not received your certificate of insurance by your move-in date, you may contact our office and we will provide you with your certificate number.

IMPORTANT NOTE: No application for SoHo Tenant Insurance is ever turned down, provided that payment has been received. Housing providers can accept a copy of the application form and a copy of the payment as proof of insurance.

How do I pay the Annual Premium?

You can pay your annual premium in one of four ways:

1. Mail a personal cheque, made payable to SoHo Insurance Inc.
2. Mail a Money Order, made payable to SoHo Insurance Inc.
3. Phone us with a major credit card or credit union bank card
4. If you have an account with any major bank (except RBC), you can pay directly at your branch, online or via telephone banking.

My bank representative asked for my account number, what do I do if I don’t have an account number?

You can ask the bank representative to use your last name instead of an account number. SoHo will match the electronic payment to your application using your last name.

Can I make monthly payments?

Yes, you can make monthly payments. There is an administration fee added to the premium only when you pay monthly.

Monthly Payment Steps:

1. The first payment is a $40.00 deposit
2. 9 equal monthly payments will be withdrawn from your bank account on the first business day of each month (Option 1: $15.65 per month, Option 2: $21.50 per month). In order for SoHo to deduct monthly payments from your bank account, please provide a VOID cheque or pre-authorized debit form from your bank.

Do NOT pay the “Total Charge” amount as outlined on the Tenant Insurance Monthly Payment Plan Agreement form, this is just the sum of your monthly payments.

IMPORTANT NOTE: An administration fee is NOT added when the premium is paid in full. If you pay for a full year, the premium is $155.52 for Option 1 and $207.36 for Option 2 (taxes included).

The $40.00 deposit can be paid using any one of these options:

1. Mail a personal cheque, made payable to SoHo Insurance Inc.
2. Mail a Money Order made payable to SoHo Insurance Inc.
3. Phone us with a major credit card or credit union bank card
4. If you have an account with any major bank (except RBC), you can pay directly at your branch, online or via telephone banking.

How do I make monthly payments if I do not have a bank account?

If you are a client of Ontario Works or a recipient of the Ontario Disability Support Program benefits, your worker may be able to arrange monthly payments for you.

Contact your worker to discuss this.

Can the Ontario Disabilities Support Program (ODSP) or Ontario Works (OW) pay my insurance premium directly to SoHo?

In most cases, yes. This is determined on a case-by-case basis, so check with your worker. SoHo will require a letter from ODSP or OW stating that they will make the payment directly to SoHo. This letter should be sent in with your application.

What is liability coverage?

This is coverage that protects you from lawsuits and similar claims.

How do I make a claim on my insurance policy?

To make a claim on your insurance policy, follow these steps:

1. Call the adjuster, Cunningham Lindsey, at 1-877-361-4597.
2. You will get their voicemail (24 hours a day, seven days a week).
   • Identify yourself as a SoHo client.
   • Provide your name, address, telephone number and insurance certificate number.
3. An adjuster will call you back to discuss the claim and what the next steps are to help you recover from the loss.

How would I prove my claim?

To make the claims process relatively smooth, keep a receipt and record (make, model, where and when purchased and the price) of your purchased property, particularly more expensive items. Photographs are also very helpful in proving your claim.

It is your responsibility to prove the value of your claim to the adjuster, and it can be quite time-consuming to put together information you need to present your claim if you have to collect this information after the loss has occurred.

How much will I get for loss of personal property?

The maximum you will receive depends on the insurance option you have chosen. However, coverage is paid on an Actual-Cash-Value basis. This is the value of your damaged content at the time of loss, NOT the cost to purchase new items to replace old items.

What is the deductible?

The deductible for both insurance options is $300 per occurrence for property and additional living expense claims. For claims over $5,000 the deductible is waived, or $0. The deductible for liability claims is $0.

Do I pay the deductible to the insurance company?

No. The insurance company deducts the amount of your deductible from the amount they pay to settle your claim.

What does “additional living expenses” mean?

Additional living expenses are extra expenses you must pay if you have to leave your unit for reasons that are related to your approved claim. For example, you may need to stay in a hotel temporarily while your unit is being cleaned from smoke damage. The hotel expense would be an additional living expense.

Will my shelter allowance cover the cost of this insurance if I receive Ontario Works/Ontario Disability Support Program benefits?

Your shelter allowance may cover the cost of this insurance. Please contact your worker for more information about this.

Can my insurance be transferred if I move to another unit in the same building or if I move to a completely different location?

Yes, with the following conditions:

1. You inform SoHo of any changes in a written and signed letter.
2. You move into another social housing unit or are still in receipt of Ontario Works or the Ontario Disability Support Program.
3. If you move out of social housing, you will be covered for up to 30 days after you move. After 30 days, your insurance coverage will be cancelled and any unearned premium will be returned.