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What our users say:

Excellent
Based on 501 reviews
August 5
Received a call before I was even…
Received a call before I was even finished submitting information. Super fast se...
Robert Chiasson
August 4
Insurance Premiums
I got all the information I needed with the lowest Auto and Home insurance premi...
joseph almeida
August 4
A click and I was a few minutes away my 50% savings!!
A click and few answers to questions and I got a quote almost half the price of ...
Laurentia
August 4
Great service!
Great service!
Linda RitaOlivier
August 3
They respond very quickly
They respond very quickly. They are very understandable. The representative I sp...
Nuwara47
August 3
Excellent
They help and did a great job assisting in new insurance
Serena MarieCasto
August 2
The agent name, Justin Farr
The agent name, Justin F. was very helpful, kind, and patient. I will surely get...
JessicaMercado
August 2
Quick efficient and very helpful 👌
Quick efficient and very helpful 👌
Khalilulla Razzaque
August 2
dick
Web page was quick and easy to use
Richard
July 30
Good experience was pretty quick
Good experience was pretty quick
Grant W.Murray
July 29
The agent was friendly
The agent was friendly, helpful and polite. All in all a good experience.
KaneezAla
July 29
Impressed
The gentleman I spoke with, Steve Chajka, was very polite and professional in he...
MarkKereluk
July 29
Extremely simple
Extremely simple, and fast process.
JaniceGiannitti
July 26
excellent
excellent, professional service
SabinBaidoc
July 23
Very kind and helpful
Very kind and helpful
April Shannon
July 22
Easy to find easy to use website which…
Easy to find easy to use website which provided me with options.
Randall McLellan
July 22
Excellent service
Excellent service
Sven Zorz
July 21
Car & Home Insurance Savings!
CAA agent Tim Gulley contacted me and we had a great connection. So we are in th...
Jim McIntosh
July 21
They were great
They were great
ChristinaLain
July 21
Excellent pricing
Excellent pricing
pankaj joshi
July 20
Great experience
I was contacted on my cell right away after the quote was done. That is very goo...
Rubaet TIslam
July 20
Wanted to shop around
Wanted to do a check for my recent insurance quote from an existing provider. Ke...
RANDALL MCKENNA
July 20
Auto quote
The representative is very good
Jonathan Vea Cabading
July 19
I could compare charges from various…
I could compare charges from various policy providers. Navigation was plain and ...
Anup Dubey
July 16
I needed a quote for tenant insurance…
I needed a quote for tenant insurance and was able to find an amazing company wh...
Benjamin Bohnsack
July 13
Best experience!!
Fast and wonderful service. Called me within seconds of my submitting my online ...
Brooke Bouchard
July 10
Review for low rates
Lowest rate did send me to the desired rental insurance rates, which I was able ...
JOY cumberbatch
July 7
Knowledgeable about Insurance.
Knowledgeable about Insurance.
Alex Ponvanibhom Daniel
June 30
The review was fine
The review was fine. It was easy to complete. The quote was too close to what I...
Robert Kennedy
June 23
Excellent opportunity
Excellent opportunity to explore and compare insurances rates. It was easy and I...
Roberto

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 August 07, 2022
Type of home
Triplex
Location
Dunnville, ON
Previous claims
None
Lowest Rate
$17/mth
$203/yr
Average rate
$35/mth
$425/yr
Saved
$19/mth
52.00%
Quote from August 07, 2022
Type of home
Detached
Location
Markham, ON
Previous claims
None
Lowest Rate
$14/mth
$166/yr
Average rate
$31/mth
$369/yr
Saved
$17/mth
55.00%

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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