Personal Insurance
Renters Insurance
Renters insurance is one of the cheapest forms of coverage you'll ever buy, usually $20–40/month, and one of the most overlooked. It covers your belongings, your personal liability, and your living expenses if your apartment becomes unlivable. Many landlords now require it before you sign the lease.
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Who we cover
Tenants in any kind of rental. From a basement suite to a high-rise condo to a furnished short-term rental.
- Apartment renters (purpose-built and condo rentals)
- Basement and secondary-suite tenants
- Roommates and shared accommodation
- Students in residence or off-campus rentals
- Furnished and short-term rentals
- House renters
What's typically included
Renters policies are simple, three core coverages, a few optional add-ons, all wrapped into a single low monthly premium.
- Personal property (your belongings)
- Personal liability ($1M / $2M)
- Additional living expenses if displaced
- Tenant's legal liability, damage you cause to the rental
- Identity theft assistance
- Optional: scheduled items (jewelry, bikes, instruments)
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
What moves the premium
Renters insurance, also called tenant insurance, is straightforward, the premium scales with how much stuff you're insuring and where you live. Most policies start under $25/month.
- Replacement value of your belongings
- Location (postal code, building type)
- Liability limit ($1M vs $2M)
- Deductible chosen ($500 vs $1,000)
- Whether you have a roommate
- Past claims
Ready for a quote on renters insurance? Talk to a real broker who specializes in it.
Frequently Asked Questions
Who needs Renters Insurance?
Renters insurance, also called tenant insurance in many provinces, is increasingly required by landlords before you can sign a lease. You need a policy if:
- You rent an Apartment, Condo, or House
- You rent a Basement Suite or Secondary Suite
- You share a rental with Roommates
- You are a Student in Residence or Off-Campus
- You rent a Furnished or Short-Term Rental
How much does Tenant Insurance Cost?
Tenant insurance, sometimes called renters insurance, is one of the cheapest forms of coverage you'll ever buy, usually $20–40/month, with most policies starting under $25/month. Cost factors include:
- The square footage of your living space
- The year your building was built
- The area your home or building is located
What does Tenant Insurance cover?
Tenant insurance protects you and your belongings from accidents that aren't covered in your landlords insurance policy. Coverage typically includes:
- Damage, Theft, Or Loss To Personal Belongings
- Fire Protection
- Storms
- Flooding
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
Still have questions? We'll quote it, explain it, and let you decide.
Other Insurance We Offer
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