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Kitchener Tenant Insurance

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Recent Quotes From Our Users

Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$84.22Jul 24, 2024, 04:44 PMAuto63FemaleM1J2C8
$43.53Jul 24, 2024, 06:04 PMHome47MaleL7P1Y9
$29.37Jul 24, 2024, 09:54 AMTenant41MaleN8W5N7

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Article Contents
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated on May 29, 2024

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Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated May 29, 2024

Visit author page

3 minute read

Article Contents

Quick Facts About Tenant Insurance in Kitchener

  • Kitchener tenant insurance is LESS expensive than the Ontario average.
  • The average cost of tenant insurance in Kitchener is $16 per month.
  • On average a one-bedroom apartment costs $1,342 per month in Kitchener.

Kitchener, Ontario has a highly competitive rental market, with only a 1.2% vacancy rate for purpose-built rentals and 1.1% vacancies for condominium apartments. This low vacancy rate is due to the popularity of renting in the city, with over 40% of all Kitchenerites choosing to rent their homes instead of owning them.

One of the biggest reasons for doing so is convenience, as renting a property means your landlord is responsible for maintenance and repairs instead of you. However, your landlord’s insurance covers their property and liability in the event of an accident or natural disaster – not your belongings.

Tenant insurance protects your finances, providing renters with a much-needed source of funds to repair or replace damaged or lost belongings. Learn how tenant insurance works, what perils are covered, and how to get the best deals for Kitchener tenant insurance.

How Much Does Tenant Insurance in Kitchener Usually Cost?

The average cost of tenant insurance in Kitchener is $195/year, making it cheaper than the average Ontario rate of $264 annually. Costing just a little over $16 a month, this is a fairly inexpensive way to protect your belongings from loss or damage due to risks like fires, flooding, or earthquakes.

Note that $195/year is just the city’s average tenant insurance rate. Your own quotes may be higher or lower depending on several factors such as the assessed value of your belongings, your preferred coverage limits, and your neighbourhood’s postal code. Use MyChoice to compare premiums from different trusted providers to make the best choice for your needs and budget.

A Snapshot of Kitchener Renters

Based on the 25% sample data taken by the 2021 Census of Population, most Kitchenerites live in rented homes. From a sample pool of 99,815 residents, 40,235 people (40.3%) were renting property. 14.3% of those surveyed were living in condominiums, compared to 85.7% occupying non-condominium private homes.

The Canada Mortgage and Housing Corporation’s January 2023 rental report showed a highly competitive rental market, with the average cost of renting a two-bedroom home in Kitchener up by 7% to $1,469. However, the report didn’t show the average rent for a two-bedroom condo. The increase in average rent in Kitchener and tighter budgets have resulted in turnover falling from 16.3% to 14.3%.

Kitchener also saw its lowest vacancy rates in 20 years, with a 1.2% vacancy rate on purpose-built rentals and a 1.1% rate on condos.

The low vacancy rates, low turnover, and higher rent can be attributed to the return of students, a resurgence in international migration, and the discouragingly high cost of homeownership. Because of these factors, it’s expected that Kitchener rental prices will continue to rise in the coming years.

Average Monthly Rent in Kitchener

Below is the average monthly rent in Kitchener, categorized by apartment type. The rent price for a one-bedroom apartment in Kitchener is $1,342, a little under the provincial average of $1,480.

Apartment TypeAverage Monthly Rent
1 Bedroom$1,342
2 Bedroom$1,637
3 Bedroom +$1,935

Kitchener Rent Price Over The Years

The rent for 3-bedroom apartments saw the highest increase, from $1,250 in 2018 to $1,935 in 2023, a 54.8% increase.

Kitchener Vacancy Rate Over the Years

The vacancy rates for bachelor apartments fluctuated over the past 6 years, starting at 2.4% in 2018, peaking at 3.5% in 2021, and ending at 2.9% in 2023.

Kitchener Population Growth

Kitchener’s population grew from 232,222 to 256,885 in 5 years since 2016, a whopping 10.62% increase. This is a high growth rate relative to other Ontario cities.

What Is Not Included in a Typical Kitchener Renters Insurance Policy?

Even if you’ve opted for a highly comprehensive tenant insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by Kitchener insurance companies.

Here are the most common tenant insurance exclusions:

Criminal activities

If your rented home was damaged due to criminal activity, it won’t be covered by your insurance policy.


Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Failure to maintain your home

Damage or losses caused by poor home upkeep (e.g., water damage from frozen pipes, broken bannisters) won’t be covered.

Flood damage

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home business activities

Home businesses will need separate business insurance coverage to protect you from rental property or equipment damage.

Pest damage

Because this is considered a preventable risk, most insurers don’t cover damage or loss caused by insects, vermin, and animals.


Mould caused by poor home maintenance is typically excluded by insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Vacant property risks

Many insurers may void your tenant insurance if you leave the property vacant for over 30 days in a row.

Note that a tenant insurance policy doesn’t cover loss or damage to items that aren’t yours, so it won’t cover a roommate’s belongings or your landlord’s possessions. Also, the list above is by no means an exclusive enumeration of risks typically excluded from a tenant insurance policy in Kitchener. Talk to your tenant insurance provider to see what’s covered by your policy in case of loss or damage.

How You Can Get Cheap Tenant Insurance in Kitchener?

If you’re trying to save money on tenant insurance coverage, compare insurance rates with MyChoice, or visit our Ontario page for practical tips.



Average rates were calculated using a standard profile and incident profiles. All personal details pertaining to the quotes and policies have been kept confidential.

Standard Profile

Quoted rates are based on either a 35-year-old male and/or female tenant with a clean claim history and good credit. They are also non-smokers and live in a home with monitored fire alarms and burglar alarms. The tenants also have a $1,000 deductible, a $1,000,000 liability, a $30,000 personal property limit and water damage included.

Incident Profiles

We examined how rates change by evaluating incident profiles. We looked at the most common tenant insurance claims in Canada: theft, fire-related, accidental injury, and water damage claims while comparing them to a clean record (standard).

Home Details

Quoted rates are based on either a duplex or triplex home constructed in the year 2010 or later.


MyChoice data science, MyChoice research.


1. Mychoice.ca Internal Data, Tenant Insurance Quotes Collected, 2024.

2. CMHC, 2023, Rental Market Statistics Summary by Metropolitan Areas, Ontario, Hamilton, Average Rent. Data Published October, 2023.

3. CMHC, 2023, Rental Market Statistics Summary by Metropolitan Areas, Ontario, Hamilton, Average Rent, 2018-2023. Data Published October, 2023.

4. CMHC, 2023, Rental Market Statistics Summary by Metropolitan Areas, Ontario, Hamilton, Vacancy Rate, 2018-2023. Data Published October, 2023.

5. Statistics Canada, 2016-2021, Census of Population Statistics, Ontario, Hamilton, Population Statistics. Data Published December 16, 2022.

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