Barrie residents endure harsh summers and long winters. Tenants living in a house with other people, a basement suite or an apartment could all face different issues if there was a leak or a burst pipe. Items kept in a garage or a locker may be at risk. Tenant policies can be comprehensive, covering everything from personal liability, contents, eligible additional accommodation expenses and more.
It’s important to make sure that your home is properly represented in your quotes. If you have roommates, check who is covered. Those living in a basement should ask questions about the many different sources of water damage.
Barrie Tenant Insurance Premium Snapshot
Rather than decrease coverage to match standard pricing, it is recommended that policyholders have adequate coverage for water damage, storage, and additional living expenses.
The median rate for tenant insurance in Barrie is $305 per year, which is below the benchmark rate in Ontario which is $326 per year.
| Median annual tenant insurance premium | $305 |
| Median monthly tenant insurance premium | $25 |
| Barrie premium vs. Ontario benchmark | 6.4% below the Ontario benchmark |
| Lowest-premium postal code area | L4M ($294) |
| Highest-premium postal code area | L9J ($342) |
Tenant Insurance Costs Across Barrie Postal Code Areas
When comparing rates, it’s important to keep the type of unit, the deductible and all of the other available coverage options the same in order to make location the only factor.
Rates range from $294 (L4M) to $342 (L9J) in the documented areas in Barrie, meaning there’s a difference of $48 in the area.
| Postal Code Area | Median Annual Tenant Insurance Premium |
|---|---|
| L4M | $294 |
| L4N | $316 |
| L9J | $342 |
A Guide to Tenant Insurance Coverage in Barrie
Also look at the limits of coverage for optional water and other endorsements, which make up 10.2% of Barrie’s standard premium, in the optional portion of the premium and the terms of coverage for belongings stored in a locker, garage, or shed in the portion of the premium for contents protection (79.3%).
| Coverage Component | What It Generally Covers | Median Annual Tenant Insurance Premium Allocation |
|---|---|---|
| Contents / Personal Property | Lost or damaged personal items due to an insured loss will be covered. | $242 |
| Personal Liability and Voluntary Medical | Liability coverage will pay claims made against the tenant for bodily injury or damage to someone else’s property, as well as certain medical payments for others (as specified) due to an accident relating to the insured. | $19 |
| Additional Living Expenses | Additional Living Expense if your home is temporarily unlivable due to an insured Loss. | $13 |
| Optional Water and Other Endorsements | Other coverages available including Sewer Backup, Identity Theft, Overland Water, Groundwater and more dependent on the insurance company. | $31 |
| Coverage Total | $305 |
Tenant Insurance Costs Across Different Unit Sizes in Barrie
According to our records, insurance in Barrie ranges from $256 annually for rentals under 500 square feet to $370 a year for rentals of 1,600 square feet and above. Larger rentals may come with an additional garage or storage area, and don’t forget to ask your insurer whether belongings in these areas count towards your contents limit.
| Rental Unit Size | Median Annual Tenant Insurance Premium |
|---|---|
| Under 500 sq. ft. | $256 |
| 500–799 sq. ft. | $282 |
| 800–1,199 sq. ft. | $305 |
| 1,200–1,599 sq. ft. | $334 |
| 1,600+ sq. ft. | $370 |
Tenant Insurance Costs for Older and Newer Buildings in Barrie
It would cost $331 per year for a standard tenant profile for a house built prior to 1940 in Barrie but only $300 per year if it was built in 2020 or later, representing a difference of $31 per year.
Specifics about renovations, heating system and protection chosen may be more helpful than year built, though.
| Building Construction Period | Median Annual Tenant Insurance Premium |
|---|---|
| Before 1940 | $331 |
| 1940–1959 | $323 |
| 1960–1979 | $315 |
| 1980–1999 | $309 |
| 2000–2009 | $305 |
| 2010–2019 | $302 |
| 2020 or newer | $300 |
Additional Coverages Selected in Barrie Tenant Quotes
Sewer backup appears in 51.5% of Barrie tenant quotes and overland water in 49.0%, so basement renters should review the trigger and deductible for each. Storage protection appears in 36.8%; anyone using a garage or locker should check its limit and insured causes of loss.
| Selected Coverage | Share of Barrie Quotes |
|---|---|
| Sewer backup | 51.5% |
| Overland water | 49.0% |
| Storage/outbuildings | 36.8% |
What Is Not Included in a Typical Barrie Tenant Insurance Policy?
There are exclusions and conditions that are fairly standard in tenant policies. It’s important for tenants living in Barrie to review these sections of their policies and confirm that their coverage is adequate.
Some points worth checking are:
Roommates and property stored away from the unit need direct confirmation. Make sure each renter is insured and record the contents limit that applies to a garage, shed or locker.
How Can You Find Cheaper Tenant Insurance in Barrie?
Barrie renters should compare equal storm, water, storage and living-expense protection before choosing the lowest price. Then ask about bundling and select a deductible that remains affordable after a loss. More provincewide advice is available in the Ontario tenant insurance guide.