Many different types of renters may be looking for tenant insurance in Ontario, including occupants living in an apartment building, a basement suite, or in a house with other people.
The cost of replacing contents, water damage coverage for the rental unit and the length of time that relocation costs are paid for after a claim are common tenant insurance considerations.
It’s important to understand that a landlord’s insurance does not insure the tenant’s liability or belongings. A landlord’s insurance does cover the structure of the building. Always check who is insured, how claims are paid out for belongings, and exclusions on water damage in a unit.
On this page we’ve broken down insurance quotes from MyChoice’s quote database based on location, square footage and age of property in Ontario. Learn more about tenant insurance, how the cost is determined, common endorsements, and compare quotes using identical deductibles and limits.
Ontario Tenant Insurance at a Glance
The median tenant insurance premium in Ontario is $326 a year, or about $27 per month.
Compare your quotes, customized according to your needs for contents and liability limits, deductibles and water options, to this number.
| Median annual tenant insurance premium | $326 |
|---|---|
| Median monthly tenant insurance premium | $27 |
| Lowest-Premium City for Tenant Insurance in Ontario | Sudbury ($269) |
| Highest-Premium City for Tenant Insurance in Ontario | Etobicoke ($375) |
| Postal-area range in the dataset | L7R (Burlington) $268 to M8Y (Etobicoke) $416 |
Ontario Tenant Insurance Premiums by City
For example, the city median rate in Sudbury is $269 whereas in Etobicoke the median is $375, which is a difference of $106 a year among Ontario’s city medians. For more local info, follow the links to each city’s web page.
Keep in mind, however, that medians are a starting point. To get a sense of the price of insurance on a specific rental, you’ll need to compare policies with similar contents and liability coverage, deductibles, water endorsements and so on.
What Goes Into a Tenant Insurance Premium in Ontario?
Find out what your water endorsements cover. Coverage for sewer backup, overland water and groundwater may have different limits, deductibles and eligibility.
In Ontario, contents are 77.0% of the premium. Optional endorsements are 11.0%. Find out what that 11.0% gets you.
| Coverage Component | What It Generally Covers | Median Annual Tenant Insurance Premium Allocation |
|---|---|---|
| Contents / Personal Property | Reimbursement of your belongings which are damaged or lost as result of a covered event up to the amount of coverage (limit of liability), subject to deductible and method of payment. | $251 |
| Personal Liability and Voluntary Medical | Coverage for property damage or bodily injury for which you (the insured) could be held legally liable. | $25 |
| Additional Living Expenses | Coverage for additional living expense if a covered event makes your home unlivable, subject to policy terms and conditions. | $14 |
| Optional Water and Other Endorsements | May be available for sewer backup/overland water, groundwater, identity theft and others, depending on insurance carrier. | $36 |
| Coverage Total | $326 |
Ontario Tenant Insurance Premiums by Unit Size
| Rental Unit Size | Median Annual Tenant Insurance Premium |
|---|---|
| Under 500 sq. ft. | $271 |
| 500–799 sq. ft. | $300 |
| 800–1,199 sq. ft. | $326 |
| 1,200–1,599 sq. ft. | $359 |
| 1,600+ sq. ft. | $401 |
Ontario Tenant Insurance Premiums by Building Age
If your rental is an older property, ask your landlord if there are any updates to the heating, electrical, plumbing, and fire-safety systems. Provide any verifiable information to your insurer.
Older properties can affect your price: The average renter pays $372 per year to insure a rental built before 1940 versus $317 per year for a rental built in 2020 or later.
| Building Construction Period | Median Annual Tenant Insurance Premium |
|---|---|
| Before 1940 | $372 |
| 1940–1959 | $358 |
| 1960–1979 | $343 |
| 1980–1999 | $333 |
| 2000–2009 | $326 |
| 2010–2019 | $322 |
| 2020 or newer | $317 |
Popular Tenant Insurance Add-ons in Ontario
Of the quotes in Ontario, 48.9% of renters chose sewer backup coverage and 46.7% chose overland water coverage. These are important to have if applicable to the address and floor of the unit. When in doubt ask your insurance agent.
Identity theft coverage was selected by 40.3% of Ontario renters. Before adding this to your policy it would be a good idea to find out if this is included with other sources.
| Selected Coverage | Share of Ontario Quotes |
|---|---|
| Sewer backup | 48.9% |
| Overland water | 46.7% |
| Identity theft | 40.3% |
| Food-freezer contents | 21.3% |
Is Tenant Insurance Mandatory in Ontario?
As a rule, tenants aren’t required to have tenant insurance in Ontario. However, a landlord may require it and ask for proof of coverage. Check the lease for any insurance requirements and liability limits. Contents insurance is not automatically included with the standard lease.
Why Do I Need Tenant Insurance in Ontario?
While a landlord’s insurance policy will cover the building itself, renters should consider getting their own insurance to ensure that they are properly protected.
How Does Tenant Insurance in Ontario Work?
The form, amount of coverage offered, deductibles and exclusions vary by insurance company. Ontario tenant policies usually provide three main types of coverage.
What Is Not Included in a Typical Ontario Tenant Insurance Policy?
An Ontario tenant insurance policy may cover many types of unexpected losses, but it also has certain limits, exclusions and conditions. The declarations should be examined together with the policy wording.
What Determines The Cost of Tenant Insurance in Ontario?
Tenant insurance rates are not all the same because insurers use a number of criteria to underwrite tenant insurance, including the address and type of building you’re renting, the coverage you’ve chosen and your insurance history.
How Can You Find Cheaper Tenant Insurance in Ontario?
If you want to reduce the price without giving up coverage, compare Ontario quotes with the same contents and liability limits, deductibles and water endorsements. Make an honest inventory, ask about multi-policy discounts and select a deductible you could afford right away if you made a claim.
Who Provides Tenant Insurance Quotes In Ontario
Ontario renters can get tenant insurance in a number of ways.
FAQs About Tenant Insurance in Ontario
Is tenant insurance legally required in Ontario?
No. Although a landlord and tenant may include a provision in their standard lease requiring liability insurance, Ontario law does not require every tenant to have tenant insurance.
Can landlords require tenant insurance in Ontario?
Yes, as long as that requirement was part of the signed lease. If the requirement was added later or you are disputing it, review the lease that was signed. Ontario’s standard lease includes a section where the landlord and tenant can agree to require liability insurance.
How quickly can I get tenant insurance in Ontario?
Many simple policies can be quoted and issued very quickly after the insurer receives the necessary information and payment. Regardless of when you begin the application, coverage starts on the effective date shown on the policy or certificate.
What does tenant liability insurance cover?
Damages and defence costs may be paid under the policy when an insured is legally responsible for covered bodily injury or property damage. Not all injuries and damage are covered. Damages resulting from intentional acts and business-related liabilities are not typically covered.
What is the difference between home and tenant insurance?
The main difference between home insurance and tenant insurance is that home insurance covers the home, while tenant insurance does not because the building is the landlord’s responsibility. Both generally provide coverage for personal possessions, liability and additional living expenses.
Does one tenant policy cover every roommate?
Contact your insurer and let them know that you have a roommate. Coverage varies from policy to policy, and your roommate may need to be added to your policy or may need their own. Don’t assume your insurer will extend coverage just because you’re all at the same address.