How Much is Renter’s Insurance in Canada?
Finding a place to call home is a significant effort and expenditure. While securing a home, one of the most sensible and responsible decisions you can make is investing in a renter’s insurance policy. APOLLO offers tenant insurance policies starting at $11/month, allowing renters in Canada to have comprehensive coverage for cheap. If you are renting a dwelling place in Canada, this article covers crucial details on pricing, what’s included, and why it’s essential to secure renter’s insurance.
Need Tenant Insurance?
The Cost of Renter’s Insurance in Canada
The cost of renter’s insurance varies depending on several factors. However, on average, you can expect to pay between $15 to $30 per month for a standard policy.
Factors that may influence the cost of a policy can include:
Location: Real estate values, crime rates, and the likelihood of natural disasters all help insurers determine your premium.
Coverage Plans: Size of your rented place and the value of your personal belongings stored there will all contribute towards the cost.
Deductibles: The amount you choose to co-pay in the event of a claim can also influence your premiums. Higher deductibles usually mean lower monthly premiums.
APOLLO offers tenant insurance starting at just $11/month.
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Coverage Details of Renter’s Insurance
Renter’s insurance policies typically cover:
Personal Property: This protects your belongings from certain types of damage or theft.
Liability: Protects you financially if someone is injured on your property or if you’re deemed responsible for damage to someone else’s property.
Living Expenses: If your rental unit becomes uninhabitable (due to a covered loss), your additional living expenses (like hotel and meal costs) could be covered.
Why is Renter’s insurance important?
Renter’s insurance delivers a sense of security if ever the unthinkable occurs. A fire, a theft, or other unforeseen events can cause considerable emotional and financial stress. However, with renter’s insurance, recovering from these situations becomes more manageable.
APOLLO is Canada’s leading provider of tenant insurance, designed specifically for renters and customizable to your lifestyle. Get your free quote in less than a minute and we’ll send your policy documents right to your inbox.
APOLLO Has You Covered
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Originally published June 28, 2023, updated August 9, 2024
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!