Tenants Insurance Canada

Tenants or Renter’s Insurance Canada

If you are a renter you should have tenants or renter’s insurance. The key reasons to have tenants insurance are that 1 – it usually includes public liability insurance protection in the event someone gets injured in your rental unit or if you are responsible for an injury away from the rental and the person affected decides to take you to court 2 – it covers your personal belongings/contents if they are stolen, damaged or lost due to a fire (your landlord’s insurance doesn’t always cover your contents so it’s your responsibility to ensure you have adequate insurance)  3 – it can cover your property if you are a student away from home or your belongings left in a vehicle 4 – it can also cover upgrades made to your rental unit. and  5 – it can cover living expenses if you have to move out of your rental unit unexpectedly due to a fire or other insurable reason.

You can also purchase other options like earthquake, sewer backup or specific content insurance (for things like furs and jewellery) in addition to your standard tenant insurance policy.

Tenant insurance plans can vary on the risk coverage. They can be All Risks, Named Perils (aka. Specific Perils).

Which Canadian Insurance companies and brokers sell tenants insurance in Canada?

RBC Insurance offers several tenant insurance plans.  RBC Insurance offers an Enhanced Plus and an Enhanced Tenant Insurance plan. You can also get an online quote for Tenants Insurance from RBC and be eligible for a 5% discount.

TD Insurance  offers tenants insurance. Visit there webpage that explains the not so obvious reasons to buy tenants insurance.

SGI Canada offers several different tenant insurance plans including one for seniors.

Kanetix offers online quotes for tenants insurance from different Canadian insurance companies offering tenant insurance. Visit their webpage to read about standard features of tenant insurance.

You can purchase tenant insurance from many other Canadian insurance companies and generally most insurance brokers in Canada sell tenant or renter’s insurance too.

Make sure you obtain tenant insurance quotes before purchasing tenant insurance as premiums will vary along with coverages.