Tenant Insurance in Canada: What Renters Need to Know (2026)
By Wealthvieu · Updated
Tenant insurance is one of the cheapest and most valuable insurance products in Canada — yet most renters don’t have it. For $15–$30/month, it protects your belongings, covers liability, and provides a place to stay if your unit becomes uninhabitable.
Quick answer: Tenant insurance costs $15–$40/month and covers your personal belongings, liability ($1M+), and additional living expenses. Your landlord’s insurance does NOT cover your stuff. Get at least $30,000 in contents coverage and $1 million liability. Apply in 10 minutes online.
What Tenant Insurance Covers
Coverage
What It Protects
Typical Amount
Personal property
Furniture, electronics, clothing, appliances
$30,000–$100,000
Liability
Someone injured in your unit, or you damage others’ property
$1,000,000–$2,000,000
Additional living expenses
Hotel/temporary housing if unit becomes uninhabitable
$10,000–$30,000
Improvements
Upgrades you’ve made (new flooring, fixtures)
$5,000–$10,000
What Tenant Insurance Doesn’t Cover
Not Covered
What to Do
Flooding / sewer backup
Add endorsement ($50–$100/year)
Earthquake damage
Add endorsement (varies)
Bed bugs / pests
Landlord responsibility (usually)
Intentional damage
Not insurable
Roommate’s belongings
They need their own policy
Identity theft
Add endorsement or separate policy
High-value items (over policy limits)
Add a rider for jewelry, art, etc.
Average Tenant Insurance Cost by Province
Province
Average Monthly Cost
Ontario
$25–$40
British Columbia
$25–$35
Alberta
$20–$35
Quebec
$15–$25
Manitoba
$20–$30
Saskatchewan
$20–$30
Nova Scotia
$20–$30
New Brunswick
$15–$25
Best Tenant Insurance Providers
Provider
Monthly Cost (est.)
Online Application
Notable Features
Square One
$15–$30
Yes
Customize coverage, pay-per-use
Sonnet
$15–$30
Yes
Full online experience
Wawanesa
$20–$35
Through broker
Major Canadian insurer
TD Insurance
$20–$35
Yes
Bundle with TD banking
Intact
$20–$40
Through broker
Largest Canadian P&C insurer
Desjardins
$15–$30
Partial
Strong in Quebec
Aviva
$20–$35
Through broker
Good group rates
How Much Coverage You Need
Category
Estimate Your Value
Furniture (bed, couch, tables)
$3,000–$10,000
Electronics (TV, laptop, phone)
$2,000–$5,000
Clothing
$2,000–$5,000
Kitchen items (appliances, cookware)
$1,000–$3,000
Books, decor, misc
$500–$2,000
Jewelry, collectibles
$500–$5,000+
Sports equipment, hobbies
$500–$3,000
Total
$10,000–$33,000+
Walk through each room and estimate replacement costs. Take photos or video for documentation.
Tips to Save on Tenant Insurance
Strategy
Savings
Compare 3+ quotes online
$50–$150/year
Increase deductible to $1,000
10–15%
Bundle with auto insurance
10–20%
Install smoke/CO detectors
Small discount
Choose building with security features
5–10%
Claims-free discount
5–10%
Pay annually instead of monthly
3–5%
Ask about alumni/group discounts
5–15%
Bottom Line
Tenant insurance is the best insurance deal in Canada — $15–$30/month protects everything you own, covers million-dollar liability claims, and gives you somewhere to stay if disaster strikes. Your landlord’s policy covers the building, not your belongings. Get a policy today — it takes 10 minutes and could save you from financial disaster.