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Compare the best tenant insurance quotes in Calgary

Looking for cheap renters insurance in Calgary? You came to the right place. Get a personalized, low-rate quote with us today – it only takes a few minutes.

How to get renters insurance in Calgary 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 Calgary providers.

  3. Save money

    Choose your plan and secure your tenant insurance rate online.

How much is tenant insurance in Calgary?

There isn't one fixed price for tenant insurance – instead, insurance companies look at your renting situation and coverage needs to determine a personalized premium. For reference, however, here are four hypothetical quotes we received in November 2023 from our Calgary tenant insurance partner. Policy limits have been changed to match the recommended amount for each renting situation.

  • $17/month

    for a couple

    renting out a basement unit in Calgary, AB

  • $20/month

    for 1 tenant

    renting out a studo unit in Calgary, AB

  • $28/month

    for a family of 4

    renting out a townhouse in Calgary, AB

  • $47/month

    for 2 roomates

    renting out a condo unit in Calgary, AB

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What is tenant insurance in Calgary?

Tenant insurance (or renters insurance) is an agreement between you and your provider – it's there to protect you in the event you run into a financial emergency due to the various risks of being a home. While you probably won't be taking on the same level of risk as a homeowner, one seemingly small incident (such as an unlocked door or kitchen fire) can still turn into one hefty bill. But by paying regular premiums to your insurer, the burden won't be all on you. Instead, your tenant insurance policy will be there to bail you out.

What does tenant insurance in Calgary cover?

A standard Calgary tenant insurance policy comes with three main coverages. You'll also be able to customize your plan further with optional endorsements.

Tenant liability

Personal belongings

Additional living expenses

Optional coverages

Why do I need tenant insurance in Calgary?

Renting out a property in the big city comes with all different types of risks – here are four common claims you could face (and how having the right tenant insurance in place can save you financially).

  • Rental unit damage

    Your landlord can hold you liable for damage caused to the rental property. Renters insurance is there to help cover legal fees, settlement costs, and repair bills.

  • Stolen property

    If a thief grabs your laptop while you leave it unattended at a coffee shop, tenant insurance has you covered. It can help replace all kinds of personal items – in or out of the home.

  • Kitchen fire

    So an unattended oven turns into a hefty bill from your landlord, and you need to move into a hotel temporarily. Your renters insurance policy can help cover these costs.

  • Basement flood

    If your basement unit floods, your insurance can help you replace your damaged items and pay for accommodation – provided you have flood coverage in place.

Is tenant insurance mandatory in Calgary?

While renters insurance isn't a requirement by law in Calgary, it's common practice for landlords to make it one before the move-in. And even if yours doesn't, you should highly consider purchasing coverage anyway. Financial protection doesn't need to be so costly – find out how little you could be paying with us today.

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Factors that impact your Calgary tenant insurance cost

  1. Property type

    Different properties bring different types of risks; for example, a basement suite is much more likely to flood than a condo unit. The more susceptible your rental property is to damage, the more expensive tour insurance will be. 

  2. Living situation

    You'll require coverage if you live with your entire family compared to living alone. And if you have a roommate, it's a good idea to purchase separate policies to ensure everyone has protection. 

  3. Coverage needs

    The more expensive your contents are to repair or replace, the more expensive your insurance will be. Specialty items may also need to be topped off with extra coverage (for an added cost).

  4. Pets

    Certain pets will increase the cost of your tenant insurance. This is because you're much more susceptible to making a liability claim (e.g. due to a dog attack).

  1. Location

    Where you live within Toronto matters. Areas with high crime rates are much more likely to face theft and vandalism, causing your insurance premium to increase. Living in flood-prone areas can also impact your rate negatively. 

  2. Insurance history

    Having an extensive list of claims on your property insurance record is a bad look. Providers typically offer the cheapest rates to those who stay claims free as it's a telltale sign of a low-risk tenant.

  3. Credit score

    Not all tenant insurance companies look at your credit score, but some do. Generally speaking, you won't be penalized for a poor credit score, but good credit can help you out immensely. 

  4. Discounts

    Each tenant insurance insurance company offers their customers different ways to save (e.g. bundling, group rate). You won't know all the discounts you're eligible for until you ask.

How to get the cheapest tenant insurance in Calgary

  • Compare tenant insurance quotes

    Every tenant insurance company quotes their customers differently. You won't know which insurer offers the lowest rate until you shop around and look at all your options.

  • Bundle insurance products

    Did you know that you purchasing multiple insurance products under one provider leads to more savings? So consider bundling your tenant insurance with your auto needs.

  • Install safety systems

    Insurers in Toronto like to see low-risk policyholders. Depending on your provider, installing a monitored alarm or even just having a fire extinguisher on hand can lead to a lower renters insurance premium.

  • Keep a clean insurance record

    Insurance companies look at your past claims history to calculate your future rate – more claims, equals to more risk (also known as pricey insurance). So before you file a claim, make sure it's worth it.

  • Pay annual premiums

    When binding your policy online, choosing to pay an up-front, annual premium (instead of multiple, monthly premiums) usually comes with a renters insurance discount.

  • Set a higher deductible

    A deductible is the out-of-pocket cost you'll be paying before your insurer foots the rest. So weigh your risk carefully – the higher you set this, the cheaper your tenant insurance will be.

Ready to secure cheap tenant insurance in Calgary?

We can help – in just a few minutes, find out how much you'll be paying for renters insurance in Calgary.

A snapshot of the Calgary rental market

Before you get familiar with tenant insurance in Calgary, here's a brief overview of the city's overall market. We found a few interesting statistics from Canada's Housing Mortgage Corporation's Rental Market Report – while the study was released at the start of 2023, it analyzes the nationwide rental market trends from 2022.

The purpose-built rental market saw a vacancy rate of 2.7% – Calgary saw a sharp decline in vacancy, dropping from 5.1% to 2.7% for purpose-built rentals within a year – this was the lowest vacancy rate the city has seen since 2014. Increases in rental supply weren't enough to balance Alberta's record migration. Despite so, this was still slightly higher than the Canada-wide number of 1.9%. 

The average rent for a 2-bedroom Calgary unit cost $1,466 – While this is representative of Calgary's purpose-built rental market, the average rent for a 2-bedroom unit in the condo apartment market was $1,648. Comparably, the prices in the Canada-wide market were $1,258 and $1,930, respectively. Tenants in Calgary also saw a substantial increase in rent year-over-year as 2-bedroom purpose-built units saw a 6.0% inflation rate.

  • 2.7%

    Vacancy rate in Calgary

    in the purpose-built rental market

  • $1,466

    Average 2-bed Calgary rent

    in the purpose-built rental market

Frequently asked questions on Calgary renters insurance

How do I get tenant insurance in Calgary?

What is the cheapest tenant insurance in Calgary?

Does landlord insurance cover the tenant in Calgary?

Can a landlord ask for tenant insurance in Calgary?

Can a landlord evict you for not having tenant insurance in Calgary?

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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