How to Get Cheap Tenants Insurance in Canada
APOLLO offers some of the most affordable tenants insurance in Canada, with coverage starting at just $11/month. In this post, we’ll guide you through the process to make sure you’re getting the best bang for your buck.
Need Tenant Insurance?
What is Tenants Insurance?
Firstly, it’s important to understand what tenants insurance is. In simple terms, it’s a type of insurance that provides coverage for your personal belongings and liability within a rented property.
Why Do You Need Tenants Insurance?
If an unfortunate incident like a fire, theft, or water damage occurs, a tenant’s insurance policy can cover your lost or damaged possessions. Additionally, liability coverage can protect you if someone injures themselves in your unit and decides to sue.
Top Tips for Scoring Cheap Tenants Insurance
Now, let’s discuss some tips that can help you get cheap tenant’s insurance in Canada.
Shop Around
Research different insurance providers and get multiple quotations. Note the differences in costs and coverages.
APOLLO offers tenant insurance starting at just $11/month.
Get the protection you need in minutes with custom Tenant Insurance from APOLLO.
Bundle your Policies
Many insurance companies offer discounts if you use them for more than one type of insurance. For example, if you already have car insurance with a company, see if they’ll give you a discount for adding tenants insurance.
Increase your Deductible
A deductible is the amount you’re responsible to pay before your insurance kicks in if you make a claim. The higher your deductible, the lower your premium is likely to be.
Take Advantage of Discounts
Always ask if the company offers any discounts. You could get a discount for having a safer home (e.g., a building with a security system), being a student, or maintaining a good claims history.
Keep a Good Credit Score
Some insurance companies factor in your credit history. A good credit score can lead to lower rates.
APOLLO offers tenant insurance for renters across Canada, starting at just $11/month. Get a free quote in less than a minute and we’ll email your unique 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 27, 2023, updated August 25, 2023
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