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Tenant insurance (otherwise known as renters insurance, contents insurance, or apartment insurance) gives you the benefits of a homeowner's insurance policy but without coverage for the physical dwelling. The landlord’s insurance protects the building, but not your belongings.

Generally speaking, there are three types of coverage on a basic tenant insurance policy: liability insurance, contents insurance, and additional living expenses. By paying regular premiums to your provider, you'll be protected financially from all types of tenant-related emergencies.

If you're looking for tenant insurance in Canada, we’re here to help. You can get a customized tenant insurance quote online with us in under five minutes today – all from the comfort of your couch.

No, tenant insurance is not mandatory in Canada, but many landlords will require you to purchase coverage as a stipulation in the lease agreement. And even if that's not the case for you, it's a good idea to get insurance anyway.

While your landlord may have their own home insurance policy, that doesn't mean you're immune to risks as a renter. Landlord insurance (or rental income property insurance) is only there to protect the landlord from their own financial implications, such as building damage or a tenant liability claim. You could still face your own financial troubles as a renter for various reasons, such as the loss of your belongings due to a break-in.

Does homeowners insurance cover renters damage?

No, a landlord’s home insurance won’t cover damage caused by a renter. If a renter damages the unit, their tenant insurance policy may cover the repair. If they do not have a tenant insurance policy, they may need to turn to the landlord's insurance, but it could likely end up in a court dispute. To avoid problems, it's best that each person is insured on the property. If both have insurance, and there is damage to the rental unit, it's possible for it to be claimed by the landlord's policy, and the tenant's policy could potentially pay the landlord's deductible.

Optional types of renters insurance coverage

Depending on your provider, some coverages may be excluded unless you pay extra. Here are a few popular options you can ask your insurer about.

What does renters insurance not cover?

Renters insurance will not cover you for any loss as a result of deliberate actions caused by the insured, including criminal acts, damage due to overland or sewage flooding provided you don't have the proper flood insurance, or damage due to war or terrorism. You also won't be covered if your property is illegally acquired. 

Pets and maintenance issues are also not covered. For example, bed bugs, mice, rats, or any rodent damage are typically seen as a maintenance task to be carried out by the renter or landlord. However, depending on your provider, you may be able to add rodents or vermin to your policy. Structural repairs like patching small holes in walls are also not covered by insurance, and it's likely not worth making a claim. You can patch the work yourself or hire a professional. If not, the landlord may take the repair costs out of your damage deposit. 

There are multiple factors that can impact the cost of your tenant insurance policy. Here are the primary factors you should be aware of to better understand the quoting process for your policy.

Below, we break down the average rent prices Canadians pay for a two-bedroom apartment by province. The numbers were sourced from the Canadian Mortgage Housing Corporation’s 2025 Rental Market Survey, based on October 2025 data.

Everyone wants to feel like they’re getting a good deal, even on their insurance policy. Here are eight tips you can test to ensure you're getting the cheapest tenant insurance quote on the market.

While tenant insurance can cover various risks, here are three examples of common claims in Canada and how having the right coverage in place can protect you financially.

In a survey conducted for our Digital Money Trends Report, we found that less than 50% of renters in Canada actually have tenant insurance in place. Only 48% of renters surveyed claimed to carry coverage.

If you're part of this group, you may be under the impression that tenant insurance isn't a necessity. And while it isn't mandated by law, this is not true. Statista reported four reasons why tenants in Canada believe they should forego coverage, and here, we explain the invalidities behind each one and why you should highly consider getting a policy anyway.