CAPREIT’s Commitment to Safety | The Impact of Tenant Insurance in CAPREIT Communities

In December 2022, a fire swept through one of CAPREIT’s communities, affecting over 20 units and leaving many residents without a home or their cherished belongings during the holiday season. This devastating event was a wake-up call. Only a few residents had tenant insurance, which added immense stress as they struggled to find temporary housing and begin the difficult process of recovery.

In response, CAPREIT’s Western Alberta team took significant steps to educate residents on the importance of tenant and home insurance. Disasters can strike at any time, and being prepared can protect what matters most. Since then, a substantial improvement has been observed, with many more residents understanding the benefits of having insurance. This positive change is encouraging, but the work is not done. Ensuring that all CAPREIT residents are adequately protected remains a priority.

Fast forward to early 2024, when a significant weather event hit the western region. This time, two locations were severely affected, but there was a notable increase in residents with insurance coverage. This made a real difference, helping residents work with their insurers to recover more quickly and get back on their feet.

We’ve come a long way since the fire of December 2022. The resilience of our communities and the proactive steps taken together have made a significant impact. The cooperation and commitment of our residents have made our communities stronger.

Please watch our final video of Tenant Insurance Month to learn more.