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Tenant Insurance Calgary

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Tenant Insurance for Calgary Renters

Calgary is ranked among the world’s cleanest, healthiest, and safest cities in numerous international studies. In 2018, Calgary rose to become the 4th most livable city in the world. Population density is low, quality of life is high, and housing is abundant. This makes Calgary a very desirable living destination for many people. Whether you’re looking for a quiet neighborhood to retire in, a downtown apartment near your new job, or a place you and your roommates can rent close to the university, finding the right rental in Calgary can be a time-consuming process.

Have you found the right place to rent? Congratulations! Have you forgotten anything?

In your excitement to get settled into your newly rented home, you might forget some important details, such as purchasing tenant/renters insurance! But not to worry! Sharp Insurance doesn’t just offer tenant insurance in Calgary, it offers the best tenant insurance in Calgary. Let us get you started with a free online tenant insurance quote in Calgary.


What Tenant Insurance in Calgary Covers: A Guide by Sharp

Tenant insurance in Calgary is like home insurance, but minus a few specifics. Your tenant insurance won’t cover the physical structure of your building, but it will cover your contents and liability.

Ready to get started? We offer free tenant insurance quotes in Calgary, which you can get simply by clicking “Get a Quote” and filling out our form right away.

Let’s break down what tenant insurance is and what it covers a little more below.


Contents Insurance for Renters in Calgary

 A Personalized Limit for Contents Coverage: This coverage insures your personal belongingsIt entitles you to replace your lost, stolen, or damaged personal belongings not only inside your unit, but also in a vehicle that’s registered to your name.

At Sharp Insurance, we can also design a special coverage plan for your high-value items, such as: Jewellery, art, musical instruments, wine collections, high-end watches, sporting equipment, bicycles, etc.

We want to make sure nothing happens to your impressive music collection!

Give us a call and learn more about the several coverage options and prices we have for your most valuable belongings.

Remember! Your landlord’s insurance policy covers only damages to the actual dwelling. It doesn’t provide coverage for your belongings. 


Tenants/Renters Liability Insurance in Calgary

A $2 Million Liability Coverage: With this coverage, you can have peace of mind knowing that we’re protecting you from financial losses that may result from damages to your unit or your building caused directly or indirectly by your actions due to negligence. This insurance also provides the protection you need in the event of a lawsuit. Tenants are responsible for the harm they may cause to anyone who lives or visits their rental unit. This coverage protects you against such bodily injury claims.

Coverage limits vary by policy, although we do recommend higher liability coverage to protect yourself against the worst of lawsuits. Work with a tenant insurance broker in Calgary to determine adequate limits for your situation and your budget.


Extra Living Expenses Coverage

Additional Living Expenses: This coverage helps you to cope with your other needs after a loss. It provides compensation to you when you’re unable to live in your home while it’s being repaired for damages incurred due to sudden accidental events such as fires or water damage.

In June 2013, Calgary experienced one of the worst natural disasters in the history of the province. Catastrophic flooding brought the city to a halt, and much of the downtown and inner-city area was significantly impacted as residents were evacuated.

By the time the water receded, massive damages had been incurred, and the 2013 floods would become the second most detrimental disaster in Canadian history in terms of insured damages.

Although the 2013 flood is considered to be a “1 in 100 year” event, we continue to experience new weather patterns in every season.

If your rented suite was damaged in a similar natural disaster and is deemed uninhabitable, where would you live? This is when your Additional Living Expenses insurance responds by paying for any necessary expenses such as, hotel bills, restaurant meals, and moving cost while your apartment is being repaired.

Still have more questions about your tenant/rent insurance in Calgary? Not a problem! Call one of our expert tenant insurance brokers at Sharp Insurance and learn more about getting the best tenant insurance rates in Calgary.


Tenant Liability Insurance in Calgary

Easily the most important component of your tenant insurance in Calgary is the liability component. If a visitor to your unit should injure themselves or if you damage their property accidentally, they could sue. Lawsuits are expensive, even if you believe you’ve done nothing wrong.

We recommend at least $1 million to $2 million in tenant liability insurance in Calgary. It doesn’t cost much to increase your liability limits, and it’s worth it for your peace of mind. Ask a tenant insurance broker in Calgary about enhancing your protection.

Get the Right Tenant Insurance Coverage in Calgary

Getting the right tenant insurance coverage in Calgary is the perfect mix of protection and price.

Calgary Tenant Insurance Coverage Options

When it comes to your renter’s insurance in Calgary, you’ll have a lot of options.

You’ll first need to decide the level of coverage you desire. This includes the types of perils (or causes of damage) and number of perils you’ll want to be protected against. Here are the most common kinds:

You have a lot of choice when it comes to your renter’s insurance in Calagry.

  • Named Perils or Basic – These policies will only cover common or standard perils.
  • Broad – This coverage covers your unit for a comprehensive list of perils, but it will only offer named perils coverage for your contents.
  • Comprehensive – This is the most intensive, detailed coverage, and will offer the most coverage for your belongings. It covers everything unless specifically excluded.

Insurance companies may only offer one of these options or offer all of them. The more comprehensive the coverage, the better the protection – but it will also come with a slightly higher price.

What about additional coverages? In Calgary, tenant insurance endorsements may be comprised of the following list:

  • Sewer Backup – covers damage caused by the backup of sewer and drains.
  • Identity Theft – extends identity theft coverage to be more comprehensive.
  • Overland Water – covers overland water damage or “flood” damage caused by the overflow of lakes and rivers, snowmelt, and precipitation.
  • Groundwater – if ground water rises and floods your home, this endorsement may cover you.
  • Earthquake – covers damage caused by earth movements, like landslides and earthquakes.
  • Floaters – Each claim will only pay out to a certain limit. Floaters can increase that limit to protect your high value items, like your jewellery and electronics.

Do you rent a basement suite? We highly recommend you purchase some level of ground water or flooding insurance to protect your belongings from this very specific threat.

Ready to purchase? Get free tenant insurance quotes in Calgary with Sharp to begin.


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Submitting a Tenant Insurance Claim in Calgary

While it can be stressful to have to submit a claim, it doesn’t have to be hard. You can do so with ease through Sharp’s digital application, our web portal, or give us a call. You can even submit a claim directly to your insurer, either by finding their number on our app, web portal, or on your insurance documents through your insurer’s website.

Be sure to document as much of the damage as possible, whether by picture or video. If a police report is involved, be sure to ask for a copy and document everything.

In the event you must vacate your unit temporarily for a covered claim, additional living expenses may help you. It will include compensation for costs including food, transport, and accommodation. Be sure to keep all of the receipts you receive in this time.

A claims adjuster will be assigned to your case and will investigate the loss. They’ll ask you questions and eventually you’ll be offered a settlement. The claim comes to a close when you accept the amount and the payment is consequently delivered.

We’re here to help you, advocate on your behalf, and get your claim settlement faster.

Calgary Tenant Insurance FAQ’s


Sharp Insurance’s award-winning brokers are happy to help you with your tenant insurance needs in Calgary. All you must do is give us a call and chat with one of our brokers about your insurance options.

At Sharp Insurance, we can answer all your questions and design a tenant insurance package that will help you and your family get the best possible tenant insurance coverage in the city: a coverage that includes not only your valuable belongings, but also your personal liability claims.

We believe that knowledge is power. See below for our FAQ’s. If your questions have not been addressed below, get in touch with a Sharp tenant insurance broker in Calgary.


Do I need tenant insurance in Calgary?

Yes! Every landlord in Alberta retains the legal right to require a tenant’s insurance policy to be provided by the prospective tenant before the rental lease is signed. This insurance isn’t meant to protect your landlord alone. In fact, when you compare how much you’re likely to lose if you don’t have insurance, you’ll realize that the cost of tenant insurance is minimal. Insurance should be factored into your living expenses, much like the cost of food and utilities. Recent statistics show that tenant insurance in Alberta costs Canadians an average $25 a month. Isn’t your peace of mind and your family’s safety worth the amount you pay for an average lunch meal per day?


What’s the difference between home insurance and tenant insurance in Calgary?

Home insurance is sometimes used as a blanket term for all types of property insurancehouse, condo, and renter’s insurance. Renter’s or tenant insurance, however, is property insurance designed specifically for renters or tenants. It provides different coverage than traditional home insurance and is usually much more affordable.

Home insurance blankets almost all types of property insurance, including house, condo, and renter’s. Renter’s, however, omits the structure insurance component and solely insures your liability and personal belongings, making it much more affordable.


What perils are covered by Calgary renter’s insurance?

It technically depends on your decisions as to what policy coverage you want to purchase, but a standard insurance policy for tenants will cover:

  • Fire
  • Smoke
  • Explosion
  • Lightning
  • Electrical current
  • Wind
  • Hail
  • Weight of snow (causing a roof collapse)
  • Falling object
  • Impact by vehicle or aircraft
  • Riot, vandalism, theft, and other malicious acts
  • Certain types of water damage (usually caused by plumbing or appliances)
  • Sewer backup*
  • Overland water (flooding)*
  • Earthquake and landslides*

Anything marked with an asterisk (*) may necessitate the purchase of an endorsement to be covered. Check with your tenant insurance broker in Calgary to be sure.


How much is tenant insurance in Calgary?

The cost of tenant/renters insurance in Calgary depends on many factors. Call us at Sharp Insurance today or get a tenant insurance quote by completing the form below now to find out how much you can save by signing / switching your tenant insurance policy in Calgary. We’re partners with the country’s top tenant insurance providers and are confident we can find you the best deal on your tenant insurance policy.

  • What’s the location of your dwelling? – Your tenant/renter insurance in Calgary will vary depending on where in the city you choose to live. In and around the downtown core is generally more expensive than the outlying suburbs. Residents of high-risk neighbourhoods with a higher reported crime rate are also likely to pay higher premiums on their tenant insurance policies to cover the recurrent break-in, burglary, and theft incidents.
  • How is your unit or apartment constructed? – Are you renting an apartment in a high-rise building with multiple suites, a townhouse, a duplex, or a small suite in a small building with only few apartments? However your rented unit is constructed, it’s useful to know that the larger the building and the number of units in it, the lower your premium cost will be.
  • Do you currently have a tenant insurance? – Who’s your insurance provider? Let’s do the comparison for you. We’re sure we can get you a better deal with one of our Calgary tenant insurance providers.
  • What’s your claims history like? – Have you had any previous claims? The more claims you have as a tenant, the higher your premium becomes on every new tenant insurance policy you sign. This means being a responsible and careful tenant can save you money.
  • Do you have other insurance policies? – If you have other insurance policies on your vehicle or any other properties, let us know. We can save you some money by bundling all your insurance policies together in one affordable policy.


How much Calgary tenant insurance do you need?

Making an informed decision about how much coverage you need can be a guessing game. Sharp Insurance has a few resources to determine the total amount of coverage you will need, or you can work with a tenant insurance broker in Calgary one-on-one.


What isn’t covered by tenant insurance in Calgary?

A number of things may not be covered by your tenant insurance, either because you don’t have them included in your coverage, they’re specifically excluded, or no policy will cover them. Those include:

  • Wear and tear
  • Mold
  • Damage caused by insects, vermin, and animals
  • Water damage from frozen plumbing if you’re away
  • Any damage caused by your illegal activities
  • War or terrorism
  • Nuclear incidents
  • If your home is left vacant for more than 30 days in a row, you likely won’t have any protection if there is damaged

If you don’t have add-on protection for perils like overland water, sewer backup, and earthquakes, those also will not be covered.

Tenant insurance will also not cover belongings that are not yours – which means that anyone else’s belongings in your place will not be covered, plus the common areas will need to be insured by a master policy – i.e., your landlord’s insurance.

It all boils down to your specific policy and your insurer. Work with a broker to review your exact coverage and determine what your needs are, or start the process by getting free tenant insurance quotes in Calgary with Sharp today.


What is “high-risk renter’s insurance” in Calgary?

Have you been considered a high-risk renter? You may have been labeled a high-risk renter if you:

  • Had a lot of claims
  • Been cancelled for non-payment
  • Been cancelled by an insurance company for a reason other than non-payment

Even if you’re considered high-risk, you can still purchase tenant insurance. You may need to limit some parts of your coverage or go through special carriers, but it’s possible!


How does a tenant insurance deductible work?

A deductible is the amount of money you spend out of pocket (in case of an accident in your unit) before your insurance policy kicks in and covers your losses (or other losses you’re found responsible for). Even though you’re usually able to select the deductible you want, a higher deductible always means a slightly lower premium.


What are policy limits?

A policy limit is virtually the max amount of payout that you’ll receive for a covered claim. Different limits will exist for different areas of your policy, and some items will have a single limit, as well as a different limit for personal liability claims.

You’ll have options when it comes to choosing your policy limits. You’ll want to choose enough to cover the entirety of your contents, but you don’t want to pay for coverage that you don’t need. We always recommend at least $30,000 for your contents and roughly $1 million for your personal liability. You might want around $3,000 for additional living expenses, but it depends on how “well” you want to live in a time of crisis where your unit is unavailable.

Our Calgary tenant insurance brokers can help you select the right tenant insurance levels to guarantee you’re paying the right amount for your coverage.


What are my loss settlement options for tenant insurance in Calgary?

A loss settlement will determine how much payout you’ll receive if all your belongings are destroyed. You may choose between the following two options:

  • Replacement Cost – this is the cost to replace the item as it is. This is the more expensive option.
  • Actual Cash Value – this is the market price or purchase price minus depreciation. This is the more affordable option.

Get the Right Tenant Insurance in Calgary

Work with the Best Calgary Tenant Insurance Brokers

We use technology and hire only the best here at Staff to ensure that our consumers are always getting the best possible service as easy and conveniently as possible.

Never again will you have to worry about how to access your insurance documents. You can do so whenever and wherever through our 24/7 app and online portal. You can request policy changes, submit claims, download or print pink cards, etc. – and the portal works on tablets, computers, and smart phones, so you never have to worry.

As an independent brokerage, we work with a huge number of tenant insurance companies in Calgary so you can get the most competitive prices and the best coverage.

Fill out a quote form or give us a call to get your free Calgary tenant insurance quote today!


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