Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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Which of the following would typically NOT be considered a peril under a Tenant's Comprehensive Policy?

  1. Fire

  2. Theft

  3. Water damage

  4. Earthquake

The correct answer is: Earthquake

A Tenant's Comprehensive Policy typically covers risks that could directly affect a tenant's personal property within a rented space. Common perils included in such policies are fire, theft, and water damage, as these are frequent risks that tenants face. Earthquake, however, is generally regarded as a separate, specific peril that is not included in standard Tenant's Comprehensive Policies. This type of coverage often needs to be added through an endorsement or purchased as a separate policy, making it less common for standard renters’ coverage. This distinction reflects the broader approach of insurance policies where catastrophic events tend to have specific coverage options due to their potential for high loss and limited frequency in occurrence. Thus, for those seeking comprehensive protection, understanding the precise coverage of their tenant policy in relation to supplementary options is crucial.