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Compare cheap tenant insurance quotes in Alberta

Looking for affordable renters insurance in Alberta? We can help – get a customized, low-rate quote with us today.

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Alberta renters insurance quoting breakdown

Tenant insurance is priced on an individualized basis – each renter will pay a different bill, according to the risk level their housing situation brings. As a baseline, here are three hypothetical quotes we received in March 2023 from our partner for three different policies in Alberta. Coverage limits have all been adjusted to match the standard, recommended amount.

  • $24/month

    for 1 tenant

    renting out a basement unit in Red Deer, AB

  • $40/month

    for a family of 4

    renting out a house in Edmonton, AB

  • $45/month

    for 2 roommates

    renting out a condo unit in Calgary, AB

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What is tenant insurance in Alberta?

Matt Hands

Just because you aren't a homeowner, doesn't mean you won't face any property-related risks. Renting a home comes with its own set of coverage needs – your guest could sue you after a slip and fall; your jewellery collection could be stolen after a break-in; and your unit could be deemed unliveable after a fire. This is why tenant insurance exists.

Tenant insurance (also known as renters insurance or apartment insurance) is an agreement between you and your insurer. While you continue to pay your bill on a regular basis, your insurer agrees to provide the funds needed during a tenant-related emergency. This can include all sorts of expenses, such as the legal fees for a liability suit, the replacement bill for your damaged items, and the additional expenses incurred due to a temporary eviction.

Is tenant insurance mandatory in Alberta?

Tenant insurance isn't required by law for Albertans, but landlords can make it a stipulation in the lease agreement. You'll often need to show proof of coverage before you can settle into the rental home.

Keep in mind that even if your landlord doesn't require you to get coverage, you should go ahead with the purchase anyway. It's commonly misconceived that a landlord insurance policy will also protect you as the tenant. This is not the case – these policies are there to protect the landlord financially from specific claims, such as building damage caused by a renter. You'll need your own policy to make sure you're adequately protected.

What does tenant insurance cover in Alberta?

The liability portion of your tenant insurance policy pays out claims related to third-party bodily injury or property damage. This means that if someone sues you because they get injured in your unit (e.g. a slipping and falling) or you damage their property (e.g. breaking a neighbouring unit's wall), your insurer will help cover related expenses, such as legal bills and settlement fees. 

The standard liability limit on most tenant insurance policies is $1 million in coverage, but you can also increase this amount for the added peace of mind. 

Examples of Alberta renters insurance claims

  • Rental unit damage

    If you damage the rental property, your landlord could hold you liable. But having tenant insurance can prevent you from paying legal fees and settlement costs out-of-pocket.

  • Stolen property

    One small mistake, such as unlocked door, can turn into a huge financial implication. After a break-in, tenant insurance can help you replace all kinds of personal items.

  • House fire

    So lightning strikes, causing your roof to burn down. It's a good thing your renters insurance can help pay for a hotel while you await the repair of your rental property.

  • Basement flood

    Basement unit floods are common, especially in the spring. With the right coverage in place, tenant insurance can help replace your belongings and cover living accommodations.

How much is tenant insurance in Alberta?

The cost of renters insurance in Alberta is generally quite affordable. Depending on the tenant's specific needs, some policies may even cost less than $20 per month. Find out how much you'll be paying with us today.

find out now

Factors that impact the cost of renters insurance in Alberta

  1. Property type

    Basement units come with different risks than a high-rise apartment. The age and construction materials of your rental may also be factored into your tenant insurance quote.

  2. Location

    The specific Alberta address you're renting from will matter to your insurer. High-crime neighbourhoods and flood-prone areas tend to lead to hike up your insurance premium.

  3. Personal belongings

    The more stuff you own, the more coverage you'll need – and therefore, the more expensive your insurance will be. For high-value objects, you may even need an endorsement for extra protection.

  4. Pets

    Having certain pets, such as a vicious dog breed, can impact your tenant insurance rate negatively. This is because you're more susceptible to a liability claim (e.g. if your dog bites a guest).

  1. Living situation

    If you rent with other people, you'll want to let your insurer know. It's also a good idea for roommates to get separate policies to ensure everyone is adequately protected.

  2. Credit score

    Some insurance companies may use your credit score to calculate your tenant insurance rate. You won't be penalized for bad credit, but a good score can help lower your bill.

  3. Claims history

    The more claims you've made in the past, the more likely (or seemingly more likely) you'll need a payout in the future. Therefore, insurers will increase rates for those who don't have a clean insurance history.

  4. Applicable discounts

    Be sure to ask your insurance representative about any applicable discounts. For instance, you can save money by bundling your tenant insurance with your car insurance.

How to get the cheapest tenant insurance in Alberta

  • Shop and compare

    Different insurers will quote customers in different ways. Therefore, you won't know which insurer offers the cheapest Alberta tenant insurance until you shop around.

  • Bundle insurance products

    By purchasing tenant insurance along with other coverage products (e.g. auto insurance, home insurance), you'll be eligible for a multi-insurance bundle discount from your provider. 

  • Install safety systems

    Home safety systems, such as a monitored alarm, can help lower your tenant insurance rate in Alberta – insurers like to see low-risk renters and will reward you accordingly.

  • Pay annual premiums

    While you can make payments on a monthly basis, paying your provider in full at once often saves you money in the long run. It shows insurers you're planning to stick around for at least a year.

  • Increase your deductible

    Your deductible is the amount you'll be paying out-of-pocket before your insurer meets you with the rest. The more you're willing to pay out, the cheaper your coverage will be. 

  • Stay claims free

    Did you know making a claim can increase your future tenant insurance rate? So keeping your insurance history as clean as possible will lead to the cheapest rates.

Get an online renters insurance quote today.

Ready to secure your Alberta renters insurance? We can help – in under five minutes, view how much you'll be paying for your customized policy.

A snapshot of Alberta renters

Now that you've learned all there is to know about tenant insurance, let's take a look at some key statistics on renters in Alberta. Here are some interesting numbers we found, according to the Canadian Rental Housing Index

406,210 households in Alberta rent instead of own – Over 400,000 households in Alberta rent, but there are also nearly 1.5 million households in the province that own their home. So about 27% of the total household population is renting.

The average cost for rent and utilities in Alberta is $1,279 – The Canada-wide average is $1,002. Therefore, tenants in Alberta pay about 28% more than the national number for rent and utilities. 

The average renter household income in Alberta is $74,184 – That's a big jump from the Canada-wide number of $53,163. In Alberta, an average of 21% in household income is spent on rent and utilities. 16% of households, however, spend over half of their income on these necessary expenses. 


of households in Alberta rent their property instead of own.


of Alberta households spend over half their income on rent and utilities.

Frequently asked Alberta renters insurance questions

Do you need renters insurance in Alberta?

How do you get tenant insurance in Alberta?

Can you buy Alberta tenant insurance online?

What is tenant liability insurance in Alberta?

Can landlords require renters insurance in Alberta?

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 full bio

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