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Tenant Insurance for Ontario Renters

Does tenant insurance cover damage to the landlord’s property?

Did you know your landlord’s insurance won’t cover you? Unless you have tenant insurance, also known as renter’s insurance, you’d be paying out of pocket to replace your belongings if something happened. This insurance can also help cover your additional expenses if you’re forced from your home because of a covered claim or an evacuation order, as well as legal expenses in certain circumstances.

Here at Sharp Insurance, we don’t offer average tenant insurance in Ontario – we offer the best. We’re independent which means we can get you the best coverage for the best price. We also keep insurance as painless as possible by using technology to make it quick and convenient for you, whether you’re one of our customers.

Fill out our form for a quick, easy and free online Ontario renter’s insurance quote!

Do I need tenant insurance in Ontario?

What is renters insurance for? Well, If you can afford to replace all your belongings if something happens to them? Could you cover the costs of a lawsuit if someone visiting you tripped, got hurt, and sued you?

Tenant insurance is cheap and means you don’t have to worry as much if something happens.

Is tenant insurance mandatory in Ontario?

Tenant insurance isn’t mandatory in Ontario; however, your landlord may require you to have coverage as part of your lease agreement. This coverage may be required by the landlord as it protects them if something happens to the rental unit and your stuff is destroyed. If you have insurance, you’ll likely be covered and less likely to come after them.

Why do I need renter’s insurance in Ontario?


  1. It’s required by your landlord
  2. You can’t afford replace all of your belongings on your own if something happened.
  3. You can’t afford the cost of a lawsuit if someone was hurt or had their stuff damaged while visiting your home or because of you hurt them or damaged their stuff by accident.
  4. You want help if there’s a disaster.
  5. You want to worry less about the “what ifs.”


What is tenant liability insurance in Ontario?

Simply it is a type of insurance to protect yourself and the people in your home in case you’re sued with tenant liability insurance. You’re covered if someone gets hurt while visiting or for damage you may unintentionally cause. or in the other words, tenant liability insurance claims help to protect you financially if you accidentally cause property damage or bodily injury to others at home or anywhere in the world.

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

Home insurance is sometimes used as a blanket term for all types of property insurance – house, 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.

Get the Right Tenant Insurance Coverage in Ontario

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

What does tenant insurance cover?

In Ontario, your tenant insurance coverage will depend on your insurance company and what you choose when you buy your policy. Here is the standard coverage:

  • Property Damage – Helps you replace your belongings, including furniture, clothing, appliances, and more.
  • Personal Liability –  Tenant liability insurance, If someone gets hurt or has their stuff damaged because of your unintentional actions or while visiting your home, this coverage will help cover damages and legal expenses if you’re sued.
  • Additional Living Expenses – If you’re forced from your rental unit because of a mandatory evacuation or a covered claim, this will help you cover the additional costs with accommodation, food, and transportation.

Many tenant policies also include additional protection for things like identity theft and spoilt food after a claim. This will depend on the insurance company, so talk to your Ontario tenant insurance broker to ensure you fully understand what’s offered.

What perils are covered by Ontario renter’s insurance?

Again, what’s covered will depend on your decisions when you buy your renter’s insurance policy and the individual insurance company. A peril is a cause of damage, and here are the ones that are most often covered:

  • 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*

If it’s marked with an asterisk (*) that means it may need to be bought as add-on protection, although some Ontario tenant insurance companies include these coverage.

What isn’t covered by Ontario tenant insurance?

There are a few cases where the damage won’t be covered by your tenant insurance, including:

  • 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 the add-on protection for earthquakes and landslides, sewer backup, or flooding, you also won’t be covered if that’s the source of damage.

Tenant insurance also won’t cover anything that isn’t yours – that means your landlord’s insurance will cover the structure, appliances, and anything else that belongs to them. For example, if you rent a furnished apartment, your renter’s insurance wouldn’t replace the furniture after a fire. However, if you rented an unfurnished apartment or supplied some of the furniture, your tenant insurance would cover it.

Exactly what’s covered will depend on your policy and insurer, which is why it’s a good idea to work with an Ontario renter’s insurance broker at Sharp to ensure you’ve got the protection you need and understand your coverage.

Ontario Tenant Insurance Coverage Options

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

First, you have to decide what level of coverage you want. This is the number and type of perils (or causes of damage) that you’ll be protected against. Here are the most common types:

  • Named Perils or Basic – These policies only cover specific perils.
  • Broad – Covers your home for a comprehensive list of perils but provides only named perils coverage for your contents.
  • Comprehensive – Offers the most protection for your home and stuff. Offers coverage for everything unless it’s 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.

Next, you’ll need to decide what additional coverages you want. In Ontario, these can include:

  • Sewer Backup – covers damage caused by the backup of sewer and drains.
  • Overland Water – covers flood damage caused by the overflow of lakes and rivers, snowmelt, and precipitation.
  • Ground water – some insurers offer coverage if ground water rises and floods your home.
  • Earthquake – covers damage caused by earthquake, landslides and others earth movements.
  • Identity Theft – extends identity theft coverage to be more comprehensive.
  • Floaters – There are usually limits on the amount that is paid out per item in a covered claim. Usually, this limit is more than enough to replace the item, but in the case of art, jewellery, collections, sports equipment and electronics, it may not be enough. You can get a floater to extend the single item limit to the amount it would cost to replace this item (or items).

If you rent a basement suite, we strongly recommend getting as much water damage coverage as possible. Some of the coverages listed above may also be included as part of a comprehensive tenant insurance package.

Loss Settlement Options for Tenant Insurance in Ontario

The loss settlement determines the amount you’ll receive if your stuff is destroyed. Generally, there are two options available:

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

Ontario Tenant Insurance Policy Limits

A policy limit is the maximum amount you’ll get if you have a claim that’s covered. There may be different limits for different areas of your policy – you usually have a single limit for each item as well as a different, separate limit for a tenant liability insurance claim.

When you buy your renter’s insurance policy, you will usually have some choices to make when it comes to your policy limits. You should choose an overall limit that will cover replacing your stuff, but isn’t higher so that you’re not paying for coverage you don’t need. We recommend a minimum of $30,000 for contents,$1,000,000 for tenant liability, and $3000 for additional living expenses, but it can vary depending on your needs.

Tenant Liability insurance coverage included

Tenant liability insurance policies from Sharp insurance protect against accidental personal and property damage to others. So, whether your neighbor slips on your porch or you hit a stranger with your golf ball on vacation, you can rest assured that sharp insurance has you covered.

As Ontario tenant insurance brokers, we can help you choose the right policy limits for your needs and budget.

Your Deductible for Your Tenant Insurance

In Ontario, you’ll need to pay a deductible to your insurance company before it will cover the damage. Think of it as your contribution to replacing your damaged belongings. Deductibles usually range from $250 to several thousands of dollars. The higher the deductible, the more you’ll pay out-of-pocket if you have a claim, but your tenant insurance premiums will also be lower.

We recommend choosing the highest deductible you can comfortably afford paying if you have a claim.

You insurance company may offer you a benefit where your deductible is lowered each claims-free year you have with them. Over time, your deductible can go down to $0!

How much coverage do I need for renter’s insurance in Ontario?

The most asked question is how much is tenant insurance in Ontario? The amount of tenant insurance you’ll need in Ontario will depend on how much it will cost to replace your stuff and how much protection you want.

We usually recommend an “all-risk” or comprehensive policy with content limits of at least $30,000 and a personal liability limit of at least $1,000,000.

As experienced Ontario tenant insurance brokers, we can help you decide what coverage best fits your needs and budget. Plus, we’re here to answer any of your questions and get you the best price for the protection you need.

High Risk Renter’s Insurance in Ontario

Are you considered a high-risk renter in Ontario? An insurance company will label you high risk if you have:

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

You can still get renter’s insurance in Ontario even if you’re considered to be high-risk. It just might be a bit harder. You may also have higher premiums, fewer payment options, and only be offered a certain amount of coverage.

Best Tenant Insurance Companies that offer renters insurance in Ontario

We work with the best renter’s insurance companies in Ontario – since we’re an independent brokerage, we really get to work with all of them! That means you get competition and choice with your tenant insurance. We’re also always growing our network of insurers to offer you better coverage and better prices. Currently, we work with:

Aviva Canada Logo
Economical Insurance Logo
Intact Insurance Logo
Royal & Sun Alliance Insurance Company of Canada Inc Logo
Wawanesa Insurance Logo

How much does tenant insurance cost in Ontario?

Tenant insurance is very affordable in Ontario. Usually, renter’s insurance policies in Ontario are $200-500 per year or just $10 to $50 per month.

The cost of tenant insurance depends on a few factors, including:

Here are some factors that impact the price of home insurance in Ontario:

  • Your insurance and claims history
  • Your credit rating
  • How much it would cost to replace your stuff
  • Your home’s construction (materials and type)
  • The age and type of your home’s roof, plumbing, heating, and electrical systems
  • If you have security or loss mitigation devices installed (like burglar alarms and sump pumps)
  • How close the nearest fire station and fire hydrant is
  • The claim rate of your area
  • The crime rate of your area
  • The frequency and severity of natural disasters
  • How close you are to risks like rivers
  • Which discounts you’re eligible for
  • Your policy options, including loss settlement, policy limits, deductible, and coverages

These factors determine how likely it is that you’ll have a claim and how much it will cost if you do. It also determines how good of a customer you’ll be – like if you’ll pay your bills on time.

With all these factors, you and your neighbor could have totally different renter’s insurance premiums!

How to Get Cheaper Tenant Insurance in Ontario

  • Bundle your tenant and car or other type of insurance with one company
  • Raise your deductible
  • Shop around for tenant insurance quotes
  • Get your landlord to install a burglar alarm
  • Get your landlord to install a loss mitigation device like a sump pump
  • Ask about discounts
  • Review your insurance every year

Working with a broker is the best way to lower the cost of your Ontario tenant insurance. We take care of the price shopping and make sure you’re getting the discounts you’re eligible for.

Get an Ontario Tenant Insurance Quote Online in Minutes

Want a no obligation, free online tenant insurance quote for Ontario? Just fill out our form. You can also give us a call if you’d prefer to get a tenant insurance quote over the phone.

Luckily, technology is making it easier to get an accurate tenant insurance quote. All we need is a few basic pieces of information like your name, address, and contact information.

Submitting a Tenant Insurance Claim in Ontario

Submitting a claim doesn’t have to be hard. Submit your claim through our app or web portal or give us a call. You can also submit a claim directly with your insurer – you can find the number on our app or web portal as well as on your insurance documents or your insurer’s website.

Make sure you document the damage as much as possible – get pictures and video, if you can. If there’s a police report, get a copy and document everything!

If you need to vacate your home for a covered claim, you can get help with the additional living expenses. This can include accommodation, food and transportation. Make sure you keep all the receipts.

Make a complete list of everything that was damaged, destroyed or stolen. It helps if you have a home inventory list to reference (or even some photos and video before the damage happened).

A claims adjuster will be in touch. They investigate the loss and will usually want to interview you. Next, you’ll be offered a settlement. The claim is closed when you accept the amount and payment is sent out.

We’re here to help you with your claim. We can answer your questions and advocate on your behalf to your insurance company.

Work with the Best Ontario Tenant Insurance Brokers

Here at Sharp, we use technology and have awesome staff that know their stuff to make insurance as easy and convenient as possible.

With us, you have the freedom to manage your insurance whenever and wherever you want through our app and online portal. Download or print your pink cards, request a change, submit a claim, or review your policy documents whenever you need . It works on your smartphone, tablet or computer so you don’t have to waste any time on hold.

We’re an independent brokerage, which means we work with a large number of insurance companies in Ontario. That means you get competitive tenant insurance quotes and we can find you the best coverage for the best price.

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