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What our users say:

Excellent
Based on 427 reviews
May 18
Sandra was amazingly personable
Sandra was amazingly personable, efficient and knowledgeable. Kudos! A great ser...
Rachel Constantine
May 18
Lowest Insurance rate I have ever comes…
Lowest Insurance rate I have ever comes across. My broker Tracy is easy to talk ...
Abel Pat
May 17
I have had a good expierience with the…
I have had a good expierience with the insurance agent, but I need more time to ...
Earl Thompson
May 13
Car and home insurance
It was great experience and very helpful for what I needed!!!!
Maria GEstrela
May 11
Very accurate quotes that are fast …
Very accurate quotes that are fast thanks guys
BaselFarhat
May 10
Very pleasant and helpful
Very pleasant and helpful. No pressure there for the client
Dakota JCooper
May 6
Great help and very nice people
Great help and very nice people, got everything figured out fast!
Rhianna
May 5
They so friendly and informative
They so friendly and informative! Keep it up
Emmanuel CVillafuerte
May 5
Quick and courteous follow-up
Quick and courteous follow-up, connected me with a broker instantly.
Taylor
April 27
Great experience
Was great, provided a few quotes and I felt no pressure to accept any of them. I...
Andrew
April 19
This company does Follow up and Follow…
This company does Follow up and Follow through and that is so necessary because ...
Wendy Kinsey
April 13
Quick to respond and very competitive…
Quick to respond and very competitive rates offered.
Vincent EdwardWarren
April 13
Awesome service easy to deal with fast…
Awesome service easy to deal with fast and friendly
ZacharyLuesby
April 12
very fast service
very fast service, polite, efficient
Prashant
April 12
This website (LowestRates.ca) makes…
This website (LowestRates.ca) makes your decision on which insurance is the les...
Sabah Salih
April 11
yes it was quick and easy
yes it was quick and easy, like 100%
JackLeblanc
April 8
I spoke with Barb and she was very…
I spoke with Barb and she was very polite knowledgeable and friendly and profess...
Elena LiaBogdan
April 4
Excellent
Its a good experience.
AnjoeTharakan Antony
March 30
every time i use lowest rates i get a…
every time i use lowest rates i get a good deal--so much for loyalty pricing wit...
Donald ADESCHAMPS
March 20
Real options to save
Lowest Rates. CA has been extremely helpful I've gone through my ups and downs b...
Amir Isakovic
March 15
Very good.
Very good, and the Rates you have stated is great. Please wait till I see the ba...
Ian Stevens
March 10
Good customer service
Good customer service
Lina Bella
March 4
Awesome and free!
Always use this site to find all types of insurance. I am yet to find better quo...
Jey
March 3
Great team and amazing communication…
Great team and amazing communication skills. Very straight forward to get an est...
Andre F MPereira
February 23
Hi your site was easy to use
Hi your site was easy to use . I had no problem to get answers to my questions. ...
Teresa Bourque
January 22
I came across the website…
I came across the website 'LowestRates', accidentally, while on Facebook - withi...
Nelson Barker
January 15
I found the site very easy to use and…
I found the site very easy to use and was given options for insurance. I was ver...
Patricia Arseneau
January 8
fast and easy
fast and easy
moira fortin
December 29
easy to navigate the site
easy to navigate the site. comparison of many insurance companies.
QAMAR SIDDIQUI
November 17
they find the lowest rates and explain…
they find the lowest rates and explain options saves a lot of time when renewing...
terry nauss

Get the best rates on renters insurance.

Protect your personal possessions with a great renters insurance policy. At LowestRates.ca, we’ll bring you the cheapest rates on renters insurance from the top providers. All you have to do is provide a bit of information about the place you’re renting and we’ll compare the best tenant insurance options in Canada — just like that.

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See how much you could be saving on renters insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from May 24, 2022
Type of home
High Rise
Location
Oshawa, ON
Previous claims
None
Lowest Rate
$14/mth
$163/yr
Average rate
$32/mth
$379/yr
Saved
$18/mth
57.00%
Quote from May 24, 2022
Type of home
Detached
Location
Vancouver, BC
Previous claims
None
Lowest Rate
$16/mth
$186/yr
Average rate
$36/mth
$426/yr
Saved
$20/mth
56.00%

Why compare with LowestRates.ca?

We bring you the best rates on renters insurance from the top insurance providers in your area. Simply provide a few quick details about your place and click ‘Compare’ to find the cheapest renters insurance quotes available. You can shave hundreds of dollars off your policy every year by comparing tenant insurance rates today.

Your questions about renters insurance, answered.

What is tenant insurance?

You may be wondering, what is renters insurance anyway? What is it for? Tenant insurance is a form of property insurance. Renters insurance is also called tenants insurance or apartment insurance. This type of property insurance policy provides coverage for the unit occupant’s personal liability and belongings in the event of an accident. In Canada, tenant insurance can often be purchased from the same insurance companies that offer homeowners insurance. You can get a quote on tenant insurance by completing the form above. It only takes a few minutes.

Why do I need renters insurance?

If you’re renting, your personal belongings — furniture, electronics, and clothing — aren't covered by your landlord’s insurance. If a fire, theft, or other hazard occurs in your rental, you’ll have to pay for the damages out-of-pocket. Unless, of course, you have renters insurance.

Another reason why renters insurance is great? If a hazard renders your rental unfit to live in, renters insurance also covers the cost of temporary accommodations while your unit's being repaired.

Renters insurance also provides coverage for any upgrades you paid for in your rental unit. For example, if you built extra shelving into your closets or added high-end light fixtures, those items would be protected by your renters insurance policy.

And finally, renters insurance equips you with personal liability coverage. If you accidentally cause damage to an adjacent resident’s property, or a visitor to your home gets injured and decides to sue, you're covered.

How do I compare quotes?

Just fill out the form at the top of this page and provide a few details about you and your place. Then we'll find you the cheapest renters insurance rates available.

Once you’ve selected your quote, an insurance broker will call you to lock in your rate and help you get set up with your new policy. That's it. Shopping for renters insurance has never been quicker or easier.

Is there a credit check when I apply for tenant insurance?

How to get renter’s insurance:

If you’re thinking about how to get a tenant insurance policy, there are a number of options. You can often secure a rental insurance policy by calling a broker or insurance agent. However, this doesn’t guarantee that you’ll get the best price. Just fill out the form at the top of this page and provide a few details about you and your place. Then we'll find you the cheapest renters insurance rates available. Depending on where you live, you’ll receive 15+ quotes.

An insurance broker will call you to lock in your rate and help you get set up with your new tenant insurance policy. That's it. Shopping for renters insurance has never been quicker or easier.

Is there a credit check when I apply for tenant insurance?

A credit check is optional, but it'll help you get the lowest rates on your renters insurance. Insurers use credit checks to help determine how much to charge and a good credit score can lower the price of your policy. You’ll find the cheapest rates on renters insurance if you submit to a credit check.

One great advantage of our service is that we only do one credit check per application, so your credit score won't be impacted. Canadians who shop around on their own often have to submit to multiple credit checks, which can temporarily lower their credit score.

What does tenant insurance cover?

Most renters insurance policies will cover all of your belongings inside your rental unit, but there are some exceptions. Tenant insurance covers the contents of your apartment or unit, and in some cases your liability for damages to the unit.

What does tenant insurance not cover?

Standard renters policies don’t cover high-value items like jewelry, art, rare books, family heirlooms, etc. You’ll have to request special coverage if you want to have these items covered by your policy.

Should I purchase endorsements for my tenant insurance policy?

While you may not think about endorsements when purchasing your tenant insurance policy, they can be a good way to ensure you have adequate coverage. Each provider will offer different options, but your provider will probably offer many of the same endorsements available for a house insurance policy. It may increase your coverage, but it could be worth it in the case of an emergency.

Should I select an all perils or named perils renters insurance plan?

It depends. All perils coverage protects your belongings against the widest range of hazards, and any coverage exclusions must be explicitly listed in the policy document.

Named perils coverage only protects your belongings from the most common types of hazards, which will also be stated in the policy document.

Deciding which type of policy is best depends on how comprehensive you want your renters insurance coverage to be. All-perils policies cost more, but they offer a much broader range of coverage, so you know you’ll be protected if the unexpected happens.

Should I select an actual cash value plan or a replacement cost plan?

An actual cash value (ACV) plan reimburses you for the value of the items you claimed at the time they were damaged. But ACV plans account for depreciation, so the money you get from a claim might not be enough to replace your items. If your old TV is stolen, your insurer covers the depreciated value of your TV, which is probably less than what you paid for it and less than it'll cost to replace.

But replacement cost plans pay you the full replacement value of your lost or damaged belongings. If someone steals your old TV from your rental, your insurance provider will pay to replace it with a new one of similar make and quality. That's what's great about a replacement cost plan: you'll be able to replace all your belongings if your belongings in your rental are stolen or damaged.

How much tenant insurance coverage do I need?

The amount of coverage you buy should reflect the total value of everything in your rental. Savvy renters will take a room-by-room inventory of their belongings and estimate the cost of replacing each item in their rental.

Even after you request coverage for that amount, remember to take inventory of all your belongings at least once a year. It's a good way to check if your current policy is up-to-date and still fully reflects the value of your possessions.

How much does tenant insurance cost?

How much is tenant insurance, you ask? The cost of tenant insurance in Canada will vary depending on the value of your belongings and where you live. Furthermore, if you choose to purchase additional coverage for high value items, this will also increase the cost of your policy.

Tenant insurance is a customized product, which is why giving you an average cost of renters insurance in your area won’t help you much.

If your goal is to find a cheap tenant insurance policy in Canada, we encourage you to instead focus on finding the right tenant insurance policy. You’ll want to ensure that you have adequate tenant insurance coverage to protect you in case of an accident. If it’s not covered at the time an incident it takes place, it’s not covered. Period.

Where can I get tenant insurance?

Other than insurance companies, you can purchase a tenant insurance policy from a number of different providers. These might include a bank affiliate, credit union, and most other places where you can purchase a homeowners insurance policy. The cost of your renters insurance policy will vary depending on the provider you choose.

Is getting renters insurance worth it?

We know that the cost of insurance can be expensive, but — trust us — it’s worth it. Without renters insurance, the contents of your unit are your responsibility to repair or replace. . In addition, if any damages are sustained against the unit and you’re found to be at fault, you may be held personally liable.

What you may not know though, is that property insurance (including tenant insurance) actually covers your liability for damages sustained to property anywhere in North America.

So, if a fallen candle happens to set your hotel room aflame in the middle of a romantic evening while on vacation with your partner, your tenant insurance policy very well may cover all or part of these damages. That makes rental home insurance coverage more than worth it in our books.

How can I have a hassle-free claims experience?

You should take photos of all your belongings when you get a renters insurance policy. That way you'll have a record of everything in your rental, which will help you account for your belongings in the event that they're damaged or stolen. Bonus: visual evidence helps expedite the claims process.

It’s also a good idea to keep your receipts for higher value items, like televisions and furniture. Credit card statements will also work, so make sure you can access your credit card history online and remember to store your paper receipts in a secure place.

Jessica Vomiero

Jessica Vomiero

About the Author

Jessica is the former Associate Editor for LowestRates.ca. Before joining the team, Jessica worked as a National Online Journalist with Globalnews.ca and previously spearheaded the launch of the Business Section at one of Canada's largest technology websites, MobileSyrup.

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