Compare the best tenant insurance quotes in Calgary
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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
- $20/month
for 1 tenant
- $28/month
for a family of 4
- $47/month
for 2 roomates
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What is tenant insurance in Calgary?

Matt Hands, VP, Insurance and MoneySense
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
Stolen property
Kitchen fire
Basement flood
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.
start my quoteFactors that impact your Calgary tenant insurance cost
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.
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.
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).
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).
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.
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.
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.
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
Bundle insurance products
Install safety systems
Keep a clean insurance record
Pay annual premiums
Set a higher deductible
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
- $1,466
Average 2-bed Calgary rent
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 Ratehub.ca, 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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