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Tenant insurance is priced differently for everyone – companies evaluate the risk factors you bring as a renter to determine a personalized quote accordingly. As a baseline, here are three hypothetical renting situations in Quebec, along with the cost of its insurance. We received these quotes from our partner in November 2023, and all coverage limits have been adjusted to match the recommended amount each policyholder should carry.
for 1 tenant
for a family of 4
for 2 roommates
for 3 roomates
better choices made
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As a tenant, you aren't immune to all the financial risks associated with housing. Renting a property comes with its own set of possible implications – a guest could sue you for a dog bite, a thief could break into your home, or a fire could cause you to seek temporary accommodations. While you may not have all the emergency funds in place to cover every single risk out-of-pocket, a tenant insurance policy is there to protect you.
Tenant insurance is often referred to as renters insurance or apartment insurance. It's essentially an agreement between you and your insurer, providing you with a financial fallback for the various risks associated with being a renter. By paying a regular bill (typically monthly or annually), your insurance company agrees to provide the related funds during a time of need. This can include various types of scenarios, such as a liability suit, the loss or damage of your personal belongings, and a temporary need to evict your rental home.
Is tenant insurance mandatory in Quebec?
While you aren't required to purchase tenant insurance in Quebec by law, it's likely that your landlord will require you to do so. Tenant insurance is often a stipulation in the lease agreement, so you may need to purchase a policy before you're able to settle in.
And even if you aren't required to make the commitment, you should highly consider doing so anyway. It's commonly misconceived that a landlord's insurance policy already provides the tenant with enough protection. This is not the case – landlord insurance is only there to protect the property owner from financial risk, leaving many gaps in coverage that a tenant would need to purchase themselves.
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 Quebec renters insurance claims
Rental unit damage
How much is tenant insurance in Quebec?
The cost of renters insurance in Quebec 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 Quebec
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.
The specific Quebec 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.
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.
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).
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.
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.
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.
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 Quebec
Shop and compare
Bundle insurance products
Install safety systems
Pay annual premiums
Increase your deductible
Stay claims free
Get an online renters insurance quote today.
Ready to secure your Quebec renters insurance? We can help – in under five minutes, view how much you'll be paying for your customized policy.
Now that you're an expert on Quebec tenant insurance, let's take a look at some key statistics on renters within the province – here are some interesting numbers we found from the Canadian Rental Housing Index.
1,356,405 households in Quebec rent instead of own – Meanwhile, nearly 3.5 million households in the province own their property. That means about 39% of the total household population is renting.
The average cost for rent and utilities in Quebec is $775 – When comparing this to the national average of $1,002, tenants in Quebec pay about 23% less than the Canadian standard for rent and utilities.
The average renter household income in Quebec is $45,184 – That's quite a decrease from the Canada-wide number of $53,163. And on average, Quebec tenants spend 21% of their income on rent and utilities – with 14% of households spending over half of their income on these necessities.
of households in Quebec rent their property instead of own.
of Quebec households spend more than half their income on rent and utilities.
Do you need renters insurance in Quebec?
How do you get tenant insurance in Quebec?
Can you buy Quebec tenant insurance online?
What is tenant liability insurance in Quebec?
Can landlords require renters insurance in Quebec?
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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