How Much Does Tenant Insurance in Ontario Cost?
APOLLO offers tenant insurance in Ontario with affordable and customizable options, making it easy for Canadians to protect their belongings. The purpose of this article is to provide an overview of the cost of tenant insurance in Ontario, the factors that influence these costs, and how to find a suitable policy that caters to your budget and needs.
Need Tenant Insurance?
What is Tenant Insurance?
Tenant insurance is a type of insurance policy specifically designed for tenants renting properties. In general, this insurance covers:
Personal property: Protects your belongings (e.g., furniture, clothing, electronics) in case they are damaged, destroyed, or stolen due to events like fire, theft, or water damage.
Liability: Provides coverage in case someone gets injured on the rented property, or if you accidentally cause property damage to others (e.g., you accidentally start a fire that spreads to other units).
Additional living expenses: Covers the costs of temporary accommodation, food, and other necessities if you are forced to vacate the rented property due to a covered event like a fire or flood.
APOLLO offers tenant insurance starting at just $11/month.
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Factors Affecting Tenant Insurance Costs
The cost of tenant insurance in Ontario can vary significantly, as several factors influence the policy price:
Coverage limits: The amount of insurance coverage you have directly affects the cost. Higher coverage limits lead to higher premiums.
Deductibles: The deductible is the amount you’ll have to pay before the insurance company starts covering costs. Higher deductibles result in lower insurance premiums.
Property location: Premiums can vary depending on where your rented property is located (e.g., high crime area vs. low crime area).
Property type and age: Older properties may have higher premiums as they often have outdated wiring, plumbing and heating systems that can lead to increased risks.
Claims history: If you have a history of claims, you may face higher premiums as insurance companies consider you to be a higher risk.
Discounts and bundling: You might be eligible for discounts from your insurance provider if you have multiple policies with them, install security systems, or maintain a smoke-free environment.
Need Tenant Insurance?
Average Cost of Tenant Insurance in Ontario
Tenant insurance costs can vary across different cities in Ontario due to factors such as local crime rates, weather-related risks, and general living expenses. On average, the monthly cost of tenant insurance in Ontario ranges from $20 to $30, which equates to around $240 to $360 per year. Compared to other provinces, tenant insurance in Ontario is relatively affordable, as British Columbia and Alberta generally have higher premiums.
How to Save on Tenant Insurance
To lower the cost of your tenant insurance, you can:
Raise your deductible: Opting for a higher deductible will result in lower premium costs. However, make sure you can comfortably afford the deductible in case you need to make a claim.
Bundle your policies: Check with your insurance provider if they offer discounts for purchasing multiple policies, like combining tenant insurance with car insurance.
Take advantage of discounts: Ask your insurance provider about potential discounts, such as for installing a security system or being a non-smoker.
APOLLO offers tenant insurance starting at just $11/month.
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Choosing the Right Tenant Insurance Policy
It is highly recommended to consult an insurance broker or agent to find a policy that best suits your needs. When selecting a tenant insurance policy, consider:
Coverage limits that align with the value of your belongings and potential liability risks;
A deductible that is both affordable and will not put significant financial strain on you;
Policy exclusions, as certain events or belongings may not be covered (e.g., damage from sewage backup, high-value items like jewelry).
APOLLO offers effortless tenant insurance designed to protect renters across Canada. Get your free quote in less than a minute and we’ll email your policy documents directly to your inbox.
APOLLO Has You Covered
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Originally published June 26, 2023, updated July 31, 2025
Back to APOLLO MagazineGet a quote in less than a minute
Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.
Get a free quote
4.7 rating
Get a quote in less than a minute
Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.
Get a free quote
4.7 rating
Relevant articles
Getting insured is as easy as 1 - 2 - 3
1
Tell us (very little) about yourself
Just tell us your address, your name, email and phone number. And that's it. We'll give you a price in less than a minute.
2
Pay online easily and securely
You can choose to pay monthly or save money by paying for the entire year in one easy payment.
3
Get your documents in your inbox - instantly
As soon as you complete your purchase, you'll find your proof of insurance and policy documents waiting for you in your inbox.
Get covered today - it couldn’t be easier
We’ve provided more than 1,000,000 quotes to Canadians just like you. Give it a try!