4 Best Alternative Tenant Insurance Companies to CIBC Tenant Insurance

Tenant insurance is an essential safeguard for tenants, offering protection for personal belongings and liability coverage in rented spaces. While CIBC (Canadian Imperial Bank of Commerce) provides a comprehensive tenant insurance policy, exploring other options in the market ensures you secure optimal coverage at competitive rates. In this article, we highlight four top alternatives to CIBC tenant insurance.

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4 Alternatives to CIBC Tenant Insurance

1. APOLLO Insurance

APOLLO Insurance stands out as a valuable alternative to CIBC tenant insurance, thanks to its flexibility, modern features, and cost-effectiveness. Its innovative and user-friendly online platform enables renters to obtain quotes, customize policies, and make purchases within minutes. APOLLO Insurance emphasizes comprehensive coverage, particularly focusing on earthquake and flood insurance, catering to diverse coverage needs.

2. Sonnet

Sonnet is a strong alternative to CIBC tenant insurance, offering coverage across Canada with competitive pricing. Its intuitive online platform facilitates quick quotes and customizable policies, ensuring renters can tailor coverage to their specific needs. Sonnet offers comprehensive protection for personal belongings and optional upgrades for additional safeguards like water damage or sewer backups.

3. Square One Insurance

⁤Square one Insurance Services provides a reputable alternative with its customizable coverage choices. ⁤⁤Renters can easily adjust policy limits and add extra coverage for valuables such as jewelry or digital devices. ⁤⁤Additionally, Square One provides loss-of-use coverage, reimbursing temporary living expenses during uninhabitable conditions in rented spaces. ⁤

4. Intact Insurance

As one of Canada's largest insurance providers, Intact Insurance offers comprehensive and affordable tenant insurance policies. Not only with standard coverage for personal belongings and liability protection, Intact Insurance also extends benefits such as identity theft protection and optional coverage for items like fine art or sports equipment.

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What Makes APOLLO Insurance Stand out

APOLLO Insurance, one of the best alternatives to CIBC tenant insurance, stands out for several reasons. Here are some key factors that make APOLLO Insurance an exceptional choice:

• Innovative Online Platform: APOLLO Insurance offers a modern and user-friendly online platform, allowing renters to obtain quotes, tailor their policies, and purchase tenant insurance in just a few minutes. The convenience and simplicity of their platform distinguish themselves from other providers.

• Comprehensive Coverage: Renters can access comprehensive coverage options through APOLLO Insurance, including protection for personal belongings, liability coverage, and additional features like earthquake and flood insurance. Customizable policies ensure tailored protection.

• Competitive Pricing: APOLLO Insurance offers affordable pricing without compromising on coverage quality. The average monthly cost of basic tenant insurance coverage for tenants is estimated to be between $15 and $30. Renters can get the insurance they need at competitive rates, making it an attractive choice for those seeking affordable and reliable tenant insurance.

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• Flexible Policies: APOLLO Insurance understands that every renter’s situation is unique. They offer flexibility in policy customization, allowing renters to adjust coverage limits and select optional extras to align with their specific requirements. This flexibility ensures that renters have the appropriate level of protection without paying for unnecessary coverage.

• Exceptional Customer Experience: APOLLO Insurance prioritizes an exceptional customer experience, offering responsive support and a seamless insurance process. Renters can rely on attentive assistance for inquiries or concerns, enhancing overall satisfaction with the service.

APOLLO offers effortless tenant insurance that’s designed to protect Canadian renters. Get a free quote on our online platform in less than a minute and we’ll send your policy documents right to your inbox.