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Tenant & Renters Insurance

Why isure gives you Ontario Tenant (Renters) Insurance that’s All About You

Are you aware of the importance of protecting your rental space and everything inside? At isure, Canada’s fastest-growing insurance brokerage, we are revolutionizing the perception of renters/tenants insurance. Our dedication is to provide you with an all-encompassing guide to your insurance options, ensuring that you are informed, confident, and feel secure in your decisions. We place your needs, concerns, and inquiries at the core of our operations and we help you get the best renter insurance rates. Let’s take a deeper look at renters insurance below. 

isure Renter’s Insurance means:

Contents coverage Insurance Renters Insurance factor

Contents coverage

Covers your personal property and possessions.

Personal liability coverage Insurance Renters Insurance factor

Personal liability coverage

Covers you should someone hurt themselves while visiting your home.

Living expenses Renters Insurance factor

Living expenses

Covers you should loss or damage force you to live elsewhere temporarily.


Renter’s insurance, also known as tenant’s insurance or apartment insurance, gives you peace of mind that your belongings are covered. Much like a homeowners’ policy, tenant insurance provides you with contents and liability coverage. The main difference is that there is more focus on the personal belongings of renters and not the building or property, learn more about the difference between homeowner and renters insurance. In addition to contents and liability, if your unit becomes uninhabitable for any reason, you will have additional living expenses to help cover the costs of staying in a hotel. It’s important to note that your landlord’s insurance covers the building, not you.

A survey by TD insurance finds that more than half of Canadian renters do not have tenant insurance. Whether it’s due to cost, feeling as if they don’t have much to insure, or incorrectly believing they have coverage under their landlord or roommate’s policy, many Canadians are foregoing tenant insurance and, in doing so, putting themselves at financial risk. 

Did you know: Tenants are required to have a tenant insurance policy as a condition in their lease? This is common in Toronto, Ottawa, and most other cities in Ontario.

Decoding Renters/Tenants Insurance

As a renter, your dwelling is your haven. It’s home to personal possessions, cherished memories, and invaluable items that extend beyond monetary value and hold emotional significance. This is the juncture where Renters/Tenants insurance intervenes. This insurance aids in replacing your personal assets in the event of loss due to unpredicted circumstances, such as theft or damage.

However, it’s not only about possessions. Picture a situation where a visitor slips and falls on your rented property, or a fire outbreak forces you to seek refuge in a hotel for weeks. These unforeseen incidents can result in hefty, unexpected expenses. Here is where renters insurance stands out – it covers extra risks and costs that you may not anticipate.

Customized coverage

Insurance policies aren’t generic; they’re customized to meet your specific needs. We recognize that some possessions hold a greater value, which is why we can help you with added coverage for high-value items, such as your advanced stereo systems, art collections, or distinctive jewelry pieces.

Renters/Tenants insurance also provides wide-ranging protection for personal liability and additional living expenses, which prove useful in the face of disaster. This policy will protect you from settling hotel room bills during home repairs to bearing legal costs if someone gets injured on your property.

isure’s Renter’s Insurance options:

All-perils coverage

Covers you for common types of loss (e.g. fire, theft, etc.). It clearly states where extraordinary situations are excluded.

Named Perils coverage

Covers you for specific types of risk that are included in your coverage.

isure Home-Based Business insurance

Use in conjunction with this isure type of insurance, if you are running a business in your rental property.

isure Broker Expertise

We know our way around rental properties, so let us advise you on simple ways to bundle and take preventative measures to save on your insurance premiums.


You can add extra coverage to your policy for an additional premium. You can also add more contents insurance coverage for high value items. See below for examples:

Overland Water

Water from rivers or lakes that, after a heavy rainfall, accumulates and floods out onto land.

Sewer backup

When sewage overflows due to heavy rainfall and backs up into your basement. Consider adding this endorsement if you live in a basement apartment.

Identity theft

Coverage in the event that a third party steals personal information (e.g. driver’s licence, passport, credit cards, SIN) and uses it to commit a crime.

Additional contents

If you have any valuables, be it a collection or a single expensive item, understand there are limits. For extra protection, you can add an insurance floater or extra rider for extensive coverage.

Renters/Tenants Insurance FAQs

Many landlords will ask tenants to have some form of protection, although Renters’ Insurance is not mandatory. It is, however, extremely important, and even if it’s not a requirement, we are here to tell you that tenant insurance is highly beneficial because of the value of its protection. Renters require coverage and protection against unforeseen expenses, and here at isure, we can create policies that help pay for damaged or missing items. 

Our brokers receive a lot of questions regarding tenants’ insurance, and the following guide will provide you with important answers to ensure you are well-informed:

What does Tenant Insurance cover?

This type of coverage will provide renters with reimbursements after theft or fire, and some policies will also cover liability on your part if someone is hurt while inside your home. If a friend or family member falls and breaks their arm in your living room, for example, your policy will cover this liability. 

Additionally, if you have lived somewhere else while your rental unit is being repaired because of water damage, fire or smoke, your policy will cover the cost of accommodations. Medical and liability bills, temporary relocation and replacing or repairing your personal belongings damaged by a named peril are all covered under Renters’ Insurance. 

We will discuss your policy in great detail, and if you require clarification, our brokers will review every detail and discuss additional coverage options if you require more protection. We are always ready to help ensure your Renters’ Insurance policy suits your needs.

What is NOT covered by Renters' Insurance?

Damage caused by natural disasters is not covered. Additionally, high-ticket items may not be covered in full due to limitations. Jewellery and art, for example, will be protected. Still, there are limits associated with such items. You will not receive the full amount unless you increase your coverage or purchase a separate jewelry insurance policy for additional protection. 

What type of events does Renters' Insurance cover?

Renters’ insurance will generally cover your rental apartment in the event of fire and lightning, windstorms and hail, smoke damage, vandalism and theft. Other events may also be covered depending on the type of policy you select. We will discuss this aspect in more detail to ensure you clearly understand the events covered by Renters’ Insurance. 

What does the word ‘peril’ mean?

This is a word you will often see when looking at Renters’ Insurance; perils refer to a specific risk or cause of loss. Not all policies cover the same perils, however, and basic Renters’ Insurance plans will cover basic perils, like vandalism and fire. You can always add additional coverage if you want protection against other perils that are not named. We will review those listed within your insurance policy to prevent surprises. 

Will my Renters' Insurance cover my roommate?

It may be possible to add someone who is not related to you onto your policy. However, this is not recommended because claims made by either party will go onto your insurance record, which can hurt you in the future. You also have to consider the amount of coverage, which will not change when you bring a roommate into your plan; this is why purchasing a separate insurance policy can be beneficial.

Does Renters' Insurance cover pets?

Tenant insurance can cover damage and injury caused by pets, although we will have to discuss your policy and specific pet; some breeds of dogs may raise the cost of your policy. Additionally, you may need an entirely separate policy. Some breeds may not be eligible for any coverage, and we will have to discuss the kind of pet you have to determine if it can be included in your Renters’ Insurance policy. 

Commencing your journey with Renters/Tenants insurance

With isure, procuring a Renters/Tenants insurance quote is effortless. Simply click on the “Get a Quote” button, head to the “Home” tab, and in no time, you’ll have a free, no-commitment quote tailored to your needs.

isure Tenant Insurance IN ONTARIO

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