Tenant Insurance
Insure your space to ensure your peace.
Whether you rent a house, townhome or condo, as a tenant, you’re vulnerable to many of the same risks as your landlord. The expert advisors at Acera Insurance are here to help make sure you and your personal belongings are properly protected.
Your guide to tenant insurance.
Your landlord’s insurance protects only the building itself and the contents owned by the landlord. This is where tenant insurance comes in.
What your tenant insurance can cover:
- Loss or damage to your personal belongings such as furniture, appliances, clothing and electronics
- Your liability in the event someone is injured inside the home and pursues legal action
- Any expenses you incur for having to relocate temporarily while repairs are being done due to a claim or an evacuation
Coverage across Canada.
Get your tenant insurance by phone or in person at your nearest branch.
Explore your insurance options as a tenant.
With decades of experience and expertise, your Acera Insurance advisors provide personalized, professional advice and customizable, competitively priced coverage that’s perfectly fit for your needs.
Personal Property
Coverage for loss or damage to your personal belongings (e.g. furniture, appliances, clothing, electronics) due to common causes such as theft, fire and vandalism.
Personal Liability
Covers your legal expenses if you are sued and held responsible for accidentally causing damage to your landlord or neighbour’s property, or someone is injured while visiting your rental unit.
Additional Living Expenses
Covers the cost of alternate accommodation, such as a hotel or rental unit, while your rental unit is under repair due to a covered loss or an evacuation order.
Replacement Cost Coverage
Your policy will pay to restore damaged or lost possessions to their original condition or buy replacements of similar kind and quality. Depreciation is not factored into the calculation for the amount paid out.
Water Damage Protection
Pays for water damage caused to your belongings as a result of sudden and accidental incidents such as burst pipes and appliance leaks.
Earthquake Coverage
Pays for the costs to replace or restore your damaged personal property in the event of an earthquake – a recommended optional coverage if you live in an earthquake-prone area.
Why choose Acera for tenant insurance?
We help demystify your options so you know exactly what you’re covered for.
Customize Your Coverage
We partner with Canada’s leading insurers to bring you comprehensive, customizable coverage with flexible limits, deductibles and optional add-ons.
Meeting You Where You Are
We are available by email, over the phone and in-person at our offices across Canada to answer your questions, bind coverage and make changes to your policy.
We Advocate For You
Our in-house claims team will support and guide you every step of the way in the unfortunate event you have to file a claim. We’re here to ensure it’s settled as quickly, efficiently and fairly as possible.
Helpful tips from our advisors.
Keep your space and belongings protected. Our advisors are here to help you find the right coverage for you.
Answering your most common questions.
How much does tenant insurance cost?
Tenant insurance is usually offered at a monthly or annual fee that is affordable to most Canadians. However, rates do vary based on several factors, including:
- Type of building (i.e., high-rise condo, house, etc.)
- Building construction material
- Distance to the nearest fire hydrant and fire station
- Location and neighbourhood specifics (i.e., crime rate, proximity to natural hazards like rivers, etc.)
- Your insurance and claims history
- The replacement value of your personal belongings
The deductible, policy limit and any additional coverages you choose will also make a difference in your tenant insurance premium.
Is tenant insurance mandatory in Canada?
While you are not legally mandated to carry tenant insurance in Canada, landlords will often require tenant insurance as a condition in their lease agreements. A minimum amount of coverage may also be specified in the lease wording. A copy of your insurance policy may be requested before you moving in.
What is not covered by tenant insurance?
Tenant insurance is designed to cover your costs for accidental and unexpected incidents. The following is excluded in standard tenant insurance policies:
- Wear and tear
- Regular maintenance
- Rust or corrosion
- Mould
- Slow seepage and leaks
- Damage by rodents, insects, and animals
- Damage caused by negligence or lack of maintenance
Will my tenant insurance cover my roommate(s)?
While tenant insurance will usually cover your family members, it does not automatically extend to everyone that lives with you. While it is possible to add roommates onto one policy, it is not advised as a claim filed by your roommate could have an impact on your claims history and premiums in the future. We recommend every roommate to have their own tenant insurance policy.
What causes of damage are covered by tenant insurance?
Common sources of claims that are covered include:
- Theft
- Vandalism
- Fire
- Smoke
- Explosion
- Wind
- Hail
- Impact by vehicle or aircraft
- Impact by falling object (like a tree)
Special endorsements must be added to cover damage caused by earthquake, sewer backup and overland water (flooding). These endorsements may not be offered by all insurers or available to all clients. Get in touch with your Acera Insurance advisor for more information.
What types of claims are included under personal liability coverage?
The personal liability coverage included under tenant insurance provides protection against claims resulting from injuries and damage to other people or property. This includes legal costs and any settlements to be paid if you are found responsible and legally liable. This coverage extends to you anywhere in the world.
Common scenarios could include:
- Someone slipping and falling on your property
- You are on a golf course and hit a ball into somebody’s living room window
- You are on vacation and accidentally start a fire that causes property damage
- You open an umbrella on the street and injure a bystander’s eye and are sued for the medical expenses
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