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Compare the cheapest renters and tenant insurance quotes

In under five minutes, get a cheap renters insurance quote from one of Canada's top providers – free of charge.

How to get tenant insurance quotes with

  1. Share information

    Tell us a little about yourself and your property coverage needs.

  2. Compare quotes

    We instantly show you tenant insurance quotes from top Canadian providers.

  3. Save money

    Choose your quote and secure your renters insurance rate online.


Do I need tenant insurance?

In a recent survey conducted for our Digital Money Trends Report, we found that less than 50% of renters in Canada actually have a tenant insurance policy in place. If you're part of this group, you may be convinced of a few misconceptions – according to Statista, here are the top reasons why Canadians believe they don't need tenant insurance (and why you should equip yourself with coverage anyway). 

48% of renters think tenant insurance is too expensive - Some policies cost less than $20 per month. On the other hand, paying out a liability claim or replacing your contents can cost you thousands of dollars out-of-pocket. 

24% of renters believe they don't have much to insure - Tenant insurance doesn't just protect your personal items. It can also cover claims involving liability and pay for your additional living expenses if you need to move out temporarily. 

17% of renters think landlord insurance provides them coverage - Landlord insurance is only there to protect your landlord. You're still susceptible to financial risks as a renter, such as replacing all your belongings after a break-in. 

11% of renters believe their roommate's insurance covers them too - This isn't always true – a policy typically only covers the policyholder themselves. And while you may be able to list multiple tenants on a plan, it's better to be safe than sorry and purchase coverage separately.  

We found that less than 50% of renters in Canada have tenant insurance.

According to a recent survey we conducted, only 48% of Canadian renters claimed to have coverage.

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What is tenant insurance?

Matt Hands

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 covers the building, not yours.

Generally speaking, there are three types of coverages on a basic tenant insurance policy: liability insurance, contents insurance, and additional living expenses. 

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


Is tenant insurance mandatory?

Tenant insurance isn't mandated by law 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 is only there to protect your 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 all different reasons, including the loss of your belongings due to a break-in.

What does renters insurance cover in Canada?

As a renter, it's important to understand the coverages on your tenant insurance policy. While a standard package may be enough, you can also add optional endorsements to better suit your coverage needs.

Included types of renters insurance coverage

Generally speaking, a standard renters insurance package includes three types of coverages: contents insurance, living expenses, and liability protection. 


Living expenses


Optional types of renters insurance coverage

While the standard tenant insurance policy provides you with three basic coverages, here are a few optional coverages you can ask your provider about.

Overland water

Sewer backup

Identity theft

Additional contents

How much is tenant insurance?

So what is the average cost of renters insurance? Renters insurance across Canada typically ranges between $15 to $25 each month, but this will depend many different factors. Be sure to compare renters insurance quotes before you purchase a policy to make sure you get the best rate on the market.

compare quotes

Factors that impact your tenant insurance quote

Looking for cheap tenant insurance on a budget? The good news is that a renters insurance policy is generally affordable – your premium will vary based on the following factors.

Property type

Credit score

Your stuff


Past claims history

Other risks

How to get cheap tenant insurance online

  1. Shop around and compare

    At, we take the work out of monotonous phone calls and visits to many different brokerages. By entering your information once, we can show you quotes from Canada’s best renters insurance providers in just a few minutes.

  2. Bundle policies

    Insurance companies often give discounts to customers who get both their tenants and auto insurance from them. If you can, look to have both your housing and vehicle protected by the same insurer.

  3. Install monitored alarms

    Having a monitored alarm system installed – one that is connected to a central station – can lead to a discount on your policy. This typically won't include your own cameras and motion sensor lighting.

  4. Increase your deductible

    The standard tenant insurance deductible is about $500. If you double the deductible – also known as the amount of money you pay out before the insurance pays the rest – you could see a decrease in the premium you pay.

  1. Limit your claims

    A clean claims history looks good to insurers. If you submit a claim, make sure it's worthwhile. And never submit a claim for less than your deductible – claims should be reserved for times of significant financial distress.

  2. Pay annually

    Paying your premiums on an annual basis, as opposed to monthly, reduces your insurer's administrative costs while ensuring your loyalty. Therefore, you may be rewarded with a cheaper renters insurance rate.

  3. Review your coverage

    Make sure you aren't overinsured. Document your contents properly and review their value with an annual audit of your belongings – you won't need $1,000 in coverage for a TV that's only worth $500.

  4. Get a group rate

    Some insurance companies offer special discounts to school alumni and working professionals (e.g. CPA). It won't hurt to ask your insurance representative about any discounts you could be eligible for.

Shop for Canadian renters insurance online today.

Looking for a cheap renters insurance policy? In under five minutes, get a free quote for affordable coverage to help protect your personal belongings.

Frequently asked renters insurance questions

Does each tenant need renters insurance?

Does homeowners insurance cover renters damage?

Does tenant insurance cover bed bugs?

Can renters get flood insurance?

Does renters insurance cover holes in the wall?

Do renters require a credit check?

What does renters insurance not cover?

Can I rent my apartment on Airbnb?

Do you need sewer backup insurance in an apartment?

How do I get renters insurance?

How do I get cheap tenant insurance in Toronto?

What is tenant liability insurance?

What are some common tenant insurance claims?

All about your tenant insurance quote

Your most frequently asked questions about our online renters insurance process, answered. partners with top tenant insurance providers across Canada, so you can request a personalized renters insurance quote with ease. Because each rate is calculated using the insurer's own underwriting and quoting process, you’ll be able to receive accurate estimations based on your individualized profile. 

Matt Hands, Business Director of Insurance

With 6+ years of experience at, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read more

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