How a tenant insurance policy can financially protect you

Tenant insurance isn’t just a nice-to-have as a renter. It’s a way to financially protect yourself when disaster strikes. Leaky pipes, theft, fires, and even the threat of legal action – none of these factors are something we give much thought to, but they’re all a genuine risk as when you rent. And, without an insurance policy, you could lose thousands. 

We see it almost every day. Renters who come to us with a claim because of something which happened beyond their control. Luckily for them, paying a small monthly premium meant they were financially supported.

That’s what one tenant in Alberta found when a fire destroyed their rental unit. Thanks to their tenant insurance policy, they were able to claim back $6,595* to help them start over. While it couldn’t replace the items lost to the fire, their policy provided by APOLLO meant they were given a financial leg-up in beginning their recovery. 

This isn’t an exceptional case. Things like this happen all the time for renters across Canada. Without a tenant insurance policy, you could be left to pay the cost of replacement, as well as any other legal fees, all alone. 

APOLLO tenant insurance claims amongst renters in Canada

Hopefully you never have to make a claim. Sadly, thousands of renters across Canada find themselves doing just that every year. Here’s a few of the successful claims we’ve processed for Canadians throughout 2026 alone*: 

• $2,938 after an explosion in a close by unit for a renter in BC

• $3,441 when wildfires damaged a home in Alberta 

• $1,899 for an apartment that was damaged by water in Ontario 

• $1,679 after a break-in in New Brunswick 

*APOLLO claims data based on claims reported between January 2026 and March 2026.

Not everyone would be able to afford these kinds of expenses without some level of financial support. That’s what can make a tenant insurance policy so valuable for renters. 

What kinds of scenarios will tenant insurance help with?

Even the best policy won’t support you with every scenario in your home. It’s important to understand how tenant insurance works so that you have a better idea of what may or may not be covered. 

The three core components of most tenant insurance policies are:

1. Contents coverage – Designed to cover the replacement cost of belongings 

2. Personal liability coverage – To offer legal protection or help pay for the repair of damage you caused

3. Additional living expenses – Which helps you pay for things like hotels, dinners, and other expenses if you’re forced to leave your home

On top of those, most providers also let you choose add-ons to expand your coverage further. That could be something like higher limits, or enhanced water coverage.

Not every scenario is covered by a basic policy, though. Here’s some examples of where you might not be covered:

• If your apartment flood from a sewer backup

• If you caused damage to a home deliberately 

• If your unit was subleased or left vacant for a long period of time

• Some high-value items might need additional coverage

Always check the terms and conditions of your policy, and make sure to include enhanced add-ons if you need a more robust type of coverage. 

If you’re worried that an unforeseen circumstance could see you hit with a nasty bill, one of your best options is to find an affordable tenant insurance policy through APOLLO. Starting from just $13 a month, our plans give you the choice to add on enhanced coverage options, as well as the ability to share your policy with a roommate. 

You can also take advantage of our Best Price Guarantee. Bring us an existing policy, or a quote from another provider, and we’ll promise to beat it.