Tenants Insurance for Renters in Ontario

If you rent an apartment, condo, or house, you could end up saving thousands of dollars in the event of a claim with tenants insurance. A tenants insurance policy will cover your belongings or liability for accidents in your residence.

Why do I need Tenants Insurance?

Even though your landlord has insurance, in most cases it only covers the building – and not any of your belongings. In the event of an unforeseen situation such as a fire, break and enter, or severe storm, a tenants insurance policy can allow you to recover the value of any damaged or stolen belongings. Tenants insurance can also help protect you from a liability lawsuit if someone is injured in your place of residence.

What does tenants insurance typically cover?

As a renter in Ontario, your personal property will be covered against:

  • Fire or lightning
  • Windstorm, tornadoes, or hail
  • Water damage
  • Theft from break-ins