Tenant insurance for renters across Canada
Tenant insurance, also called renters insurance, protects what you own inside a rented home and covers you if someone is hurt or property is damaged because of you. Your landlord's policy covers the building; it does not cover your laptop, your furniture or a kitchen fire you caused.
It is one of the most affordable policies in Canada, and increasingly a condition of signing a lease. Bima shows indicative ranges in minutes and is built to be friendly to newcomers with no Canadian credit history.
Free, about 3 minutes, newcomer friendly
What tenant insurance covers
Most Canadian tenant policies bundle three protections:
- Contents: your belongings, from clothes and electronics to bikes, against fire, theft, water damage and more
- Personal liability: legal and damage costs if you accidentally injure someone or damage the building or a neighbour's unit
- Additional living expenses: a hotel or short-term rental if a covered loss makes your home unlivable
What affects the cost
Premiums depend on your province and city, the contents limit you choose, your claims history, and the liability limit, usually one or two million dollars. Choosing a higher deductible lowers the premium. Most renters in Canada pay a modest monthly amount, which is why many landlords simply require proof of a policy before handing over the keys.
Newcomers and students
If you have just arrived in Canada, tenant insurance is a quick, low-cost way to satisfy a lease requirement and protect the things you brought with you. Bima's checkup does not ask for a credit score, and the carriers it works with quote tenant coverage without a Canadian insurance history.
Bima shows indicative rate ranges calculated from published carrier tables. They are estimates only. A licensed advisor confirms your final premium before anything is bound.
Tenant insurance questions, answered
Is tenant insurance mandatory in Canada?
No law requires it, but most landlords make it a condition of the lease, and it is the only way to protect your own belongings and liability.
Does tenant insurance cover my roommate?
Usually only the people named on the policy. Roommates typically need their own policy or must be added explicitly. Your advisor can confirm the carrier's rules.
Are Bima's tenant insurance ranges final?
No. They are indicative ranges from published carrier tables. A licensed advisor confirms the premium, and the carrier issues the policy.