New Brunswick Security Deposit vs Tenant Insurance
A security deposit is money held under New Brunswick tenancy rules to secure certain tenant obligations. It is not an insurance policy and does not replace contents, liability or additional-living-expense coverage.
What to know
Confirm the current lease, Residential Tenancies rules and policy wording before applying this point to a specific rental.
Confirm the current lease, Residential Tenancies rules and policy wording before applying this point to a specific rental.
Confirm the current lease, Residential Tenancies rules and policy wording before applying this point to a specific rental.
Confirm the current lease, Residential Tenancies rules and policy wording before applying this point to a specific rental.
A deposit protects a tenancy obligation, not your belongings
The deposit can be claimed for certain unpaid obligations or damage under the Residential Tenancies Act. It does not pay to replace the tenant's furniture, electronics or clothing after an insured loss.
A deposit is not a liability limit
If a tenant causes major insured damage to the building or another person's property, the loss can be much larger than one month's rent. Tenant liability insurance is designed for a different financial exposure.
Keep the Certificate of Deposit
The Tenant and Landlord Relations Office provides a Certificate of Deposit. The tenant should keep this record separately from insurance documents and rental-payment receipts.
Verify the current New Brunswick rule
Lease requirements, security-deposit procedures and insurance wording can change. Use the official source below before making a rental or claim decision.
Government of New Brunswick — Security deposits →