A licensed insurance advisor can offer tenant insurance in Ottawa. If you contact the insurance broker channel they can provide you with more than one option, so you can see comparables in price and coverage! Choose the right company for your tenant insurance in Ottawa. We comb through the coverage available from Canada's best insurance companies to find you the coverage you want, at a quote that makes sense for you. Each insurance company in Ontario is different, and insurance providers offer different levels of coverage at different prices.

Tenant insurance in Ottawa, Ontario (also called renters’ insurance) is meant for people who rent the place where they live, whether home, condo, or apartment. It provides the best insurance coverage against common risks like theft, fire damage, and personal injury that occurs on the property. It's just like a home insurance policy, but for tenants.

Tenant insurance is necessary because a landlord’s home insurance policy won’t cover these perils on behalf of the renter.

No, tenant insurance is not mandatory at the provincial level. However, many property managers won’t lease their unit without tenant insurance coverage in place. Tenants and renters alike should be seeking insurance, because tenants may need to get insurance to find the rental they want.

Tenant insurance generally covers three main things.

Contents

If your belongings are damaged or stolen while in your rental property, insurance in Ottawa will help cover the cost of replacement or repair.  

This is among the most important aspects of tenant insurance since most people don’t have the money to replace thousands of dollars in lost items out-of-pocket. Your personal property is important, and the replacement cost can help you get what you need.

 Liability

If an accident on your property causes financial harm to a third party, tenant’s insurance with personal liability coverage can help cover lawsuit and settlement costs. 

For example, if a guest slips, falls, and injures themselves on a wet floor in an apartment you’re renting, tenant insurance will shield you from the financial fallout of a potential lawsuit. Your best bet for coverage from property damage also lies in tenant insurance.

Relocation cost reimbursement

If the property you’re renting is rendered uninhabitable, insurance will help shoulder the costs of relocating. 

For example, if you’re forced to stay at a hotel for a few weeks because your rental apartment flooded, insurance may help with your hotel bill along with the cost of purchasing meals.

Tenant insurance in Ottawa typically won’t cover replacement costs above a certain amount for extraordinarily expensive items (i.e. jewelry). To make sure you’re covered for the items that matter most to you, it’s important that you read the policy thoroughly. Your Surex broker can help you find the exact policy you need.

This depends on where you reside, the value of your total contents, your insurance liability limits. Tenant insurance policies normally start at $300/yr and increase as the content values and insurance liability limits increase.

The best insurance provider depends on how your situation fits into the formula companies create to evaluate policyholders. For example, one insurer might weigh your age more heavily than another. This is why it’s a good idea to compare insurance companies and online insurance with the best insurance broker in Ottawa. The cheapest tenant insurance provider isn’t always evident.

Tenant insurance in Ottawa typically renews automatically each year. You’ll receive new policy documents detailing any changes to your premium and confirming your coverage. Keep in mind that you do have the option to switch policies before your existing one renews.

Tenant insurance is rated based on the type of unit you rent, number of tenants in the unit, value of your contents, physical location of the unit, prior tenant or home claims in the past under your name.

No. If you rent the unit you live in you only require tenant insurance which is often more affordable than home insurance. You want to be properly insured, and tenant insurance will do that for renters.

You can contact your assigned insurance broker/advisor or contact the insurance company directly. Make sure you have your policy # and details of the claim prepare when you call.

What information do I have to provide for a tenant insurance quote?

You’ll need to provide basic information about yourself and the property you’re renting, including:

• The address
• Your belongings’ cumulative value
• Who else will be occupying the rental property

Many policies hover around the $20 to $30 range. Since there’s no minimum coverage requirement, you can achieve lower rates by purchasing only the coverage you need.

The law does permit landlords to include tenant insurance coverage as a lease requirement. Many landlords in Ottawa do so as a tenant’s policy serves to reduce their overall risk.

You’ll need to provide basic information about yourself and the property you’re renting, including:

• The address

• Your belongings’ cumulative value

• Who else will be occupying the rental property

Many policies hover around the $20 to $30 range. Since there’s no minimum coverage requirement, you can get insurance online at a lower rate by purchasing only the coverage you need.

The law does permit landlords to include tenant insurance coverage as a lease requirement. Many landlords in Ottawa do so as a tenant’s policy serves to reduce their overall risk.