Real Estate

Tenant / Renters Insurance

  • Last Updated:
  • Mar 12th, 2019 5:24 pm
[OP]
Newbie
Oct 7, 2004
11 posts
15 upvotes
Toronto

Tenant / Renters Insurance

How much do you pay? What is a good personal liability amount? $500K? What companies are good to deal with?
14 replies
Member
Mar 5, 2013
497 posts
118 upvotes
Ottawa
The cost of the insurance will vary depending on the household, but $1M liability is considered the very basic. Call around for quotes.
Deal Fanatic
User avatar
Oct 23, 2003
8033 posts
1581 upvotes
im with square one insurance. dont remember exactly but in the 1-2 mil range, with 1 mil usually being the minimum requested standard. usually comes out to $20ish a month.
Deal Addict
Apr 22, 2014
3095 posts
463 upvotes
Oshawa, ON
Been with RBC and TD both about 20-something a month, rising every year of course. If you have a car, go with the same provider might save a couple bucks.
Sr. Member
User avatar
Apr 5, 2009
948 posts
335 upvotes
Toronto
If you have a car and live in the GTA, check your auto insurer. If they offer home insurance, a basic tenant policy will generally pay for itself because they will knock off a chunk of your automobile insurance premiums. The last two companies I was with had it so that a combo home+auto policy cost less than the auto policy alone, at least if your auto policy is expensive enough (in the GTA it usually is).
eldeejay wrote: Been with RBC and TD both about 20-something a month, rising every year of course. If you have a car, go with the same provider might save a couple bucks.
TD discounts your auto premiums by 12% for adding a home policy, which can easily be a couple hundred bucks.
Deal Addict
Aug 31, 2014
1466 posts
509 upvotes
YVR, BC
google square one insurance, you can buy a policy online and pay recurring bill with a credit card so if you use Scotia Momentum or Tangerine you can get up to 4% cashback

500k liability with 40k personal items, 20k rider and 5000k earth quake deductible for $20/m
Deal Addict
Oct 28, 2009
1294 posts
280 upvotes
What's the absolute cheapest this can be? I want to nudge my tenants in this direction but I don't want it to be onerous.
Deal Addict
Aug 31, 2014
1466 posts
509 upvotes
YVR, BC
basic is $15/m check it out you can pick what you want the amounts etc
Deal Fanatic
User avatar
Nov 24, 2012
5650 posts
1823 upvotes
Space
State Farm is the cheapest I found. I paid about 10$ a month.
Deal Fanatic
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Jul 4, 2005
6479 posts
928 upvotes
Ottawa
bump, can folks recommend something dirt cheap..a landlord requires it and i just need the basics..i seen sq1 on kanetix with a uni discount, what else is there?
Newbie
Jun 18, 2016
60 posts
14 upvotes
jeeva86 wrote: bump, can folks recommend something dirt cheap..a landlord requires it and i just need the basics..i seen sq1 on kanetix with a uni discount, what else is there?
Who did you end up going with? In the same boat
Deal Fanatic
User avatar
Jul 4, 2005
6479 posts
928 upvotes
Ottawa
ryepies wrote: Who did you end up going with? In the same boat
Didn’t end up taking ins. Landlord never asked again but if I had to go, I would’ve went to sq1.
Sr. Member
Nov 30, 2007
759 posts
263 upvotes
Mississauga, ON
Recently rented and went with Sonnet. Cheapest I could find in the Mississauga area for approx. $13/month (excluding Earthquake coverage).
Sr. Member
Jan 4, 2013
578 posts
116 upvotes
TORONTO
very good information, is this for Ontario?
MJ125 wrote: How much do you pay? What is a good personal liability amount? $500K? What companies are good to deal with?
Jr. Member
User avatar
Nov 20, 2013
159 posts
64 upvotes
Vancouver, BC
I know this thread is old, but topic is relevant. Looking for affordable tennant insurance in BC (Vancouver). I do not own a car.
Please share your experiences, thanx!
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Public Mobile customer, as well as Vancity, Novus, Modo, Evo and Endy mattress :)

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