First-time renter insurance: what to buy before you move in
Your first lease comes with a learning curve: deposits, walkthroughs, utility hookups — and, often, a line in the lease saying you need tenant insurance. This guide covers what it is, how much to get, and the order to do things in so move-in day goes smoothly.
The 60-second version
Tenant insurance protects your belongings (contents), your wallet if you accidentally hurt someone or damage the building (liability), and your temporary housing costs if a fire or flood makes your place unlivable (additional living expenses). Your landlord's insurance does none of that for you — it covers the building. A typical first policy costs $15–$40 a month depending on your province and coverage.
Step by step: buying your first policy
Check your lease
Look for an insurance clause. If one exists, note the required liability minimum — commonly $1 million — and the date proof is due.
Add up your stuff
Room by room at replacement cost. First apartments typically total $25,000–$40,000 — furniture and electronics add up faster than people expect.
Buy before move-in
Set the policy to start on your lease start date. Online insurers can issue it the same day; you'll get documents immediately.
Send the proof
Forward the certificate of insurance or declaration page to your landlord before you pick up the keys. Keep a copy with your lease.
How much coverage does a first-time renter need?
Two numbers matter. Contents: your room-by-room total, rounded up — our contents estimator does the math in two minutes. Liability: take at least $1 million; the step up to $2 million typically adds only a few dollars a month and it's the coverage that protects you from the truly large bills. Choose a deductible you could actually pay tomorrow — $500 or $1,000 are the common first-timer choices.
First-time renter insurance in BC: two local wrinkles
British Columbia renters pay the highest average premiums in Canada ($30–$50/month for a standard policy) — Vancouver rents and property values drive that. Two BC specifics:
- Earthquake is an add-on, not standard. BC is Canada's seismic zone; earthquake coverage is a separate endorsement and priced accordingly. Decide with open eyes rather than assuming it's included.
- Your landlord can require insurance as a lease term — BC treats it as an additional term you agree to when you sign. Read the clause before you sign, per the province-by-province rules.
In Ontario, expect the standard lease's section 11 to spell out a liability requirement. Everywhere else, the rules table in our landlord guide covers your province.
Mistakes first-time renters make
- Guessing a low contents number. "$10,000 of stuff" is the classic underestimate — price one room's replacement honestly and you'll see.
- Buying the cheapest policy without checking the liability limit. The liability line is the one that saves you from six-figure trouble.
- Assuming a roommate's policy covers you. It doesn't — each roommate needs their own policy. See the student guide if you're sharing with friends.
- Letting the policy lapse after year one. If your lease requires insurance, a lapse is a lease breach. Auto-pay it and forget it.
- Skipping the photos. Walk through your new place on day one and photograph everything you own, receipts for big items especially. If you ever claim, that five minutes is worth thousands.
What it will cost you
First apartments usually mean modest contents totals, so most first-time renters land at the lower end of the ranges in our cost by province guide — roughly $15–$30 a month in most provinces, more like $30–$50 in BC. If you're in BC, Alberta, Saskatchewan, Manitoba, Ontario or Quebec, Square One's build-your-own policy is a sensible first quote to get: you only add the specialty coverage you actually own, and there's no fixed-term contract if your plans change.