Your landlord's policy covers the building — not your couch, your laptop, or the damage if your tub overflows into the unit below. Tenant insurance covers your side of the door, usually for about the cost of a streaming subscription or two.
Every standard policy in Canada is built from the same three parts. The differences between insurers are in the limits, the deductible, and what you can add or leave out.
Pays to repair or replace your belongings after a covered event — fire, theft, vandalism, a burst pipe, wind and hail.
The part renters underestimate. If you accidentally injure someone or damage someone else's property, this covers legal costs and damages.
Additional living expenses: if a fire or major leak makes your unit unlivable, the policy helps pay the extra costs of living elsewhere.
Overland flooding and sewer backup are often add-ons rather than standard coverage. Wear and tear, intentional damage, pests, and your roommate's belongings (unless they're named on the policy) are typically excluded. High-value items like jewellery, bikes and collectibles often have sub-limits — check them, or add specific coverage for the items that matter.
Most people guess low. Walk through your place mentally and tap everything you'd have to replace after a total loss — the totals tend to surprise people. Insurers commonly suggest $30,000–$40,000 as a practical minimum.
Values are typical Canadian replacement costs, and the premium range is a ballpark drawn from published Canadian guides — not a quote. Your real price depends on your province, building, deductible and claims history. For province-level averages, see tenant insurance cost by province.
Different renters hit different questions. Start with the guide that matches where you are.
Average monthly premiums for all ten provinces — tenant insurance Ontario cost, BC, Alberta and the rest — plus the factors that move your price and how to lower it.
Lease questionsThe rules province by province, what counts as proof of insurance for a lease, and what happens if your policy lapses mid-term.
First leaseRenting your first place — in BC, Ontario or anywhere in Canada? What to buy, how much coverage, and the move-in checklist that keeps you out of trouble.
StudentsDorm vs. off-campus rules, whether your parents' policy already covers you, roommates, and keeping coverage cheap on a student budget.
New to CanadaFirst lease in a new country: how Canadian tenant insurance works, buying without a Canadian credit history, and what landlords will ask you for.
Quick answersIs it mandatory? Does it cover a flooded basement unit? Are roommates covered? Straight answers to the questions renters ask most.
We feature one Canadian insurer in depth: Square One, the Vancouver-based online insurer whose tenant policy you build piece by piece instead of buying a preset bundle — from $15/month, in BC, Alberta, Saskatchewan, Manitoba, Ontario and Quebec.
Renting in Atlantic Canada or the territories? Square One doesn't sell there. The guides on this site still apply when you compare national insurers or a local broker — start with costs in your province.