How much does tenant insurance cost in Canada?

Tenant insurance can be a useful way to help cover costs when the unexpected happens for renters. Whether it’s a burst pipe that damages your belongings, a break-in that leaves you needing to replace electronics, or a guest who slips and injures themselves in your unit, this kind of insurance can help with expenses that you might not be prepared for. 

But just how much can you expect to pay for your tenant insurance as a Canadian renter? We dug into our own data to answer that question. Read on to discover what you can roughly expect to pay for your premiums across every Canadian province – as well as the factors which affect these prices, and what you can do to try and save money. 

How much does an average tenant insurance policy cost in Canada? 

Every renter's situation is different, so tenant insurance costs vary too. That's why looking at the average is one of the best ways to gauge what a policy might cost you.

We’ve assessed every tenant insurance policy from the past year (July 2025 to June 2026) to work out the average price renters are paying for their insurance across Canada. 

Check out our province-by-province breakdown of what renters paid for their tenant insurance, as well as how much it cost for renters signing up for a policy in different months of the year. 

The average cost of tenant insurance by province 

APOLLO data based on the average cost of a tenant insurance policy issued by province between July 1, 2025 and June 30, 2026 

The numbers showed that all across Canada, renters were getting a fairly similar rate for their tenant insurance on average. For those in Ontario, BC, Alberta and Manitoba in particular, renters sat within 36 cents of the national average of $21.74. 

Things were a little bit higher for those in PEI and New Brunswick who found themselves paying more than $23 on average for a policy. 

While that’s a little bit more than some of their neighbors, the entire range across the country was just a $1.96 difference per month. 

What factors can affect your tenant insurance rates?

The numbers we’ve looked at here are just averages. Everyone’s tenant insurance policy will be unique, based on a series of factors which are used to calculate your premiums. Here are some examples of what can change the price of your insurance: 

• Where you live. The province, city, or even exact postal code you live in can have an impact on your premium amounts. Larger cities tend to have higher premiums, while certain areas with higher claims and crime rates could also see you having to pay more. 

• The building you live in. The age of your building, as well as the type of building you’re living in, will also have an impact. Things like security features or even proximity to local emergency services might also be taken into account. The number of people living with you could also play a factor. 

• Your claims history. If you’ve made a claim in the past, it might affect how much you can expect to pay. While some companies offer forgiveness after your first claim, it’s common for insurance premiums to rise if you’ve made a claim in the past. Even if an incident was in no way your fault, you may be seen as a higher-risk for providers. 

• Your deductible amount. Your deductible is the amount you pay out of pocket in order for a successful claim to be paid out. You can choose to make this a smaller number so that you’re paid more for a claim, but this will also mean your premiums will most likely be higher. 

• What level and kind of coverage you want. The more extensive your coverage is, the more you’ll pay for your insurance. This is something you can choose when you sign up for a policy – but it’s important to remember that if the value of your personal belongings exceeds your coverage amount, you may not be fully covered for the value of your possessions. 

What to consider when choosing tenant insurance 

While a lot of the decisions around your insurance premiums could be outside of your control, one thing which isn’t is your coverage and policy limits, as well as your deductible amount. These are what you decide on when you set up your tenant insurance.

There’s no right or wrong amount to choose. It all depends on your exact circumstances and priorities. Here’s a useful way to think about each of your limits when you choose them: 

• Contents coverage. This is the part of your policy which insures your personal belongings. It contributes towards the cost of replacing your possessions in the event of things like a fire or theft. The amount of contents coverage you choose can vary a lot, depending on how much you own. The more you choose to be covered for, the higher your insurance premiums will be. Whether you’re paid actual cash value or replacement cost will also impact how much you might expect to pay. 

• Additional living expense (ALE) coverage. If your home is no longer livable, you’ll need to temporarily move. That can be very expensive, as you’ll have to fund things like hotel costs, new rental fees, and any other additional expenses which you aren’t used to paying. ALE coverage is what helps you afford the kinds of costs which you have to pay on top of your normal expenses. The more you choose, the less you have to pay out of pocket. 

• Personal liability coverage. Also sometimes known as tenant liability insurance, this part of your policy is designed to help you afford legal costs if someone is injured on your property, or their belongings are damaged. It might apply if there’s a leak in your apartment which drips down to the floor below, or if someone slips and falls in your home. Again, the more you choose as part of your policy, the more robust your coverage will be. And just as with ALE and contents coverage, this also means you can expect to pay more for your premiums. 

• Add-ons and upgrades. A basic tenant insurance policy will normally just include ALE, contents, and personal liability coverage. However, you can also choose to add on special upgrades like enhanced water coverage or additional coverage for expensive personal belongings. If you’re in the process of getting insurance, learning more about your provider’s add-ons, and whether they add value for you, can be worthwhile. If you do choose to include them, you can expect your premiums to be higher. 

• Your deductible amount. As we’ve discussed, your deductible is what you’ll have to pay in order to receive a payout. It’s usually taken off the amount you’re given, rather than something you have to pay upfront. The higher your deductible, the lower your premiums should be, and vice versa. 

How can you save on your tenant insurance premiums? 

While tenant insurance is already more affordable than most other kinds of insurance premiums, there are still ways to potentially lower your costs further. 

• Pay a higher deductible. If your priority is to make your short-term payments lower, you can choose to pay a higher deductible amount. Just remember that while this will reduce what you pay monthly or annually, you will also have more deducted from your final payout in the event of a successful claim. 

• Compare prices. Just as with anything you buy, comparing prices between providers can be beneficial when trying to find a lower price. Shopping around often means you find a better deal than you might have initially expected. At APOLLO*, we offer a Best Price Guarantee. If you already have a policy or quote, you can bring it to us and we guarantee to beat the price.

• Bundle policies. If your provider allows you to combine your tenant insurance with another policy, such as auto insurance, this can also make things less expensive. Not all providers will offer this, and, even when they do, it doesn’t necessarily mean it will always be cheaper. Consider checking what each individual policy looks like first. 

While it’s usually possible to optimize the amount you want to spend on your tenant insurance, it’s important to remember that cheaper policies usually offer less expansive coverage. It’s smart to try and choose coverage amounts which work for your exact situation, rather than just whatever is cheapest. 

*Apollo Insurance Agency Ltd. o/a APOLLO is a licensed insurance intermediary operating across Canada (excluding Quebec and the territories). Coverage is subject to policy terms, conditions, and exclusions. 

**If you already have tenant insurance or a quote from another provider, we’ll beat the price. To qualify, the policy or quote must have the same insured address as your APOLLO application, include coverages comparable to those available through APOLLO, and have a minimum premium of $10 per month. 

The information provided on this page is intended for general educational purposes only and does not constitute insurance advice, a recommendation, or an offer to sell insurance. Every individual's insurance needs are unique and depend on personal circumstances. We encourage you to consult with an independent licensed insurance broker in your province who can assess your specific situation and recommend appropriate coverage.