Tenant Insurance in Canada, Explained for Newcomers

The newcomer trap

In a Kanetix survey of 1,000 Canadian renters, nearly half had no tenant insurance. The top reasons: 47.8% said they couldn't afford it — even though policies start as low as $15/month — and 17.3% believed their landlord's insurance covered them. It doesn't: a landlord's policy covers the building, not what's inside your apartment.

The good news: tenant insurance is one of the cheapest insurance products in Canada — typically $15 to $30 a month. That's less than most phone plans, and it protects everything you own plus your liability.

What tenant insurance actually covers

How much are your things actually worth?

Most renters underestimate — in the Kanetix survey, 24.3% skipped insurance because they thought they ‘didn't have much to insure.’ Check what you own and we'll total the replacement value and suggest a contents coverage tier.

Values are typical replacement costs for basic-to-mid-range items. Own something expensive that's not listed? Add its value to your total — or better, declare it separately to your insurer.

Tenant insurance providers, compared

Prices verified on official provider sites in October 2026. Your actual price depends on your address, coverage choices, and claims history — always get your own quote before deciding.

Notes on each provider

• Square One: all-risk (comprehensive) policies, belongings covered at replacement cost, monthly or annual billing, cancel anytime with no penalty.
• Duuo: underwritten by Co-operators; credit history is an official pricing factor; available in Quebec; flood damage to personal property is excluded.
• APOLLO: digital insurance broker with a best-price guarantee — send them a competitor's quote and they'll try to beat it.
• Sonnet: fully digital insurer; their own data puts the median tenant policy at $382/year (~$32/month). Roommates named on the lease can be added to one policy.
• TD Insurance: deductibles from $200 to $2,000; discounts for bundling with auto insurance and for quoting online.
• RBC Insurance: home insurance underwritten by Aviva; worth a quote if you already bank with RBC for bundle pricing.

Newcomer questions, answered

I have no Canadian credit history. Can I still get tenant insurance?

Yes. But know that some insurers use credit scores to set prices — Duuo lists it as an official pricing factor, and Sonnet mentions credit score ‘if applicable.’ If you've just landed, get quotes from at least three providers and ask whether a quote is possible without a Canadian credit file.

Do my roommates need their own policy?

Usually, yes. Your policy covers your belongings and your liability — not your roommate's laptop. Sonnet lets you add lease-holding roommates to a single policy; otherwise, everyone needs their own.

I brought valuables from abroad. Are they covered?

Up to a point. Policies have sub-limits for categories like jewelry, watches, bikes, and collections — often around $1,000–$2,500 per category for theft. If you own something expensive, declare it separately so it's fully covered.

My lease requires tenant insurance. What do I do?

Get the exact requirements in writing: which coverages, the minimum liability (often $1M), and who must be named on the policy. Buy a policy that meets them, then send your landlord the certificate or policy number as proof.

Compare before you buy

Get quotes from at least three providers in the table above using the same coverage details — same contents limit, same deductible, same liability. Then run those same details through a comparison site: Kanetix.ca and LowestRates.ca aggregate tenant insurance quotes from multiple insurers, and the extra ten minutes often pays for itself.

LowestRates.ca: the benefits of renters insurance (No Affiliate)