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Did you know that your landlord's home insurance doesn't cover your belongings? In the event of theft or fire, your renters insurance covers the cost of repairing or replacing your belongings, such as your furniture, electronic devices and clothes.
It's included in all home insurance policies. This insurance covers you for unintentional bodily injury or property damage that you cause to a person who doesn't live with you.
If fire damage or some other type of loss makes it impossible for you to live in your apartment for a certain amount of time, your insurance covers your additional living expenses, like hotel costs.
Take stock of the belongings in your apartment and calculate how much it would cost to replace them. Keep pictures and receipts of each item on that list somewhere safe from any potential damage or loss.
To get started, use the Insurance Bureau of Canada's Personal Property Inventory External link. Opens in a new tab. form.
Do you live in a basement? Do you have a storage locker? Do you live near a body of water? Do you have valuable items, such as a bike or jewellery? By answering these questions, you'll be able to determine whether you need optional coverage.
Contact us if you need help in choosing your coverage. We'll help you evaluate your insurance needs, based on your situation.
All-risk insurance covers most losses that can damage your belongings, such as fire, theft, vandalism and accidental water damage.
With our optional coverages, you can supplement your renters insurance to meet your specific needs.
Select the type of coverage you want or scroll down to find out more.
This insurance covers you for unintentional bodily injury or property damage that you cause to a person who doesn't live with you, anywhere in the world.
It also covers family members who live with you.
Examples
Liability insurance covers claims against you for incidents like these.
Contact us to find out what amount is best for you
This insurance covers your belongings and furniture against damage caused by fire, smoke, theft and vandalism.
Example
If you lose your furniture and clothes due to a fire, or if your apartment is burglarized while you're on vacation, we cover the cost of replacing your belongings up to the amount specified in your policy.
If you have to make alternative living arrangements during repairs, your additional living expenses, like hotel costs, are also covered.
Your basic policy can cover some accidental events as long as they're sudden and don't happen repeatedly, such as:
This insurance protects the belongings in your apartment from damage caused by tornadoes, lightning, freezing rain, hail and wind.
Example
During a windstorm, a branch smashes through a window and damages your TV. We cover the cost of repairing or replacing the TV.
Endorsement 22b
This coverage protects against damage caused by fires, smoke or explosions caused by an earthquake or other ground movements that may occur after, such as avalanches, landslides or subsidence.
Example
If an earthquake damages your apartment's electrical system and causes a fire, we cover the cost of repairing or replacing your damaged furniture and belongings.
This insurance covers your belongings and furniture up to the amount specified in your policy.
Example
Your bookcase wasn't installed correctly, and it comes crashing down onto your TV and speakers. Your insurance will cover the cost of repairing or replacing these items.
There may be limits on the amounts you can claim for certain items, such as jewellery, bikes and works of art. Ask about the limits specific to your policy and, if need be, get additional coverage for what your property is worth.
Endorsement 16c
This coverage offers protection against sudden and accidental damage caused by:
Endorsement 16d
This insurance covers sudden and accidental damage caused by flooding, meaning the rising or overflow of a body or stream of water, if the water reaches the surface of the ground of the insured premises.
Endorsement 42
This insurance covers sudden and accidental damage caused by above ground water.
These events occur when:
Example
Ice has built up on your building's roof edge. Water has accumulated behind these buildups and seeped in through the window, damaging some of your belongings. We cover the damage to your belongings, up to the amount indicated in your policy.
Endorsement 22a
This insurance covers:
Example
Your kitchen ceiling collapses following an earthquake. We cover the cost of repairing or replacing your belongings and furniture.
This insurance covers certain commercial or professional activities taking place at your home, such as those of a small home-based business or self-employed worker, or the short-term rental of your apartment, as long as they're mentioned on your policy's Coverage Summary.
Example
If you rent out your apartment on a short-term rental platform, we cover damage to your personal property within the terms of your policy.
Generally speaking, insurance companies don't cover any of the following situations.
Damage caused by repeated or continuous water seepage or leaks isn't covered.
Example
The pipe under your kitchen sink has been leaking for a few weeks and you've neglected to have it repaired. We don't cover the damage to your personal property.
Damage caused by avalanches, landslides, subsidence or soil erosion isn't covered unless those events were caused by an earthquake and you have Earthquake coverage (Endorsement 22a).
Damage caused by tidal waves or tsunamis is never covered.
Defects, wear and tear, and gradual deterioration aren't covered by your insurance policy.
Example
Your 10-year-old refrigerator stops working. The cost of repair or replacement isn't covered.
Damage caused by vermin, insects, birds, rodents, raccoons or bats isn't covered.
Example
Mice get into your apartment and damage your furniture. We don't cover its repair or replacement.
Yes. Renters insurance is a synonym for tenant insurance. If you rent an apartment, home or condo, for example, this type of insurance can help protect your belongings and cover your liability.
If you're a full-time student, still dependent on your parents and they have home insurance with us, then your liability and belongings, such as your furniture, clothes and laptop, are covered by their insurance. However, your parents must tell their insurance company where you live and which of your belongings need to be insured.
This coverage could end if you're no longer a full-time student, which means you might need to get tenant insurance.
Yes, we can cover up to 2 roommates under the same home insurance policy. The cost of your insurance might be lower than if you each took out insurance separately.
Here are some tips to lower the cost of your tenant insurance.
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