What’s included in renter’s insurance
Even if you’re renting on a temporary basis, renter’s insurance (also known as tenant’s insurance or contents insurance) will help replace the contents of your rental unit due to loss, theft or damage. But renter’s insurance also offers a few important extras to consider:
- Personal liability coverage, should someone hurt themselves while visiting your home
- Living expenses should loss or damage force you to live elsewhere temporarily
- You want the most coverage for your valuables (such as jewellery).
- You want a greater coverage amount for valuables and possessions than offered with Gold or Bronze Advantage packages.
- You want all-risk protection for your personal property (contents).
- Affordability is important
Here are brief explanations of the terms used to describe our Home Insurance Advantage packages:
- All-risk coverage is also known as all-perils coverage and provides insurance for common types of loss (e.g. fire, theft, etc.). It clearly states what is excluded.
- Designated-risk coverage is also known as named-perils coverage and names the specific types of risk that are included in your coverage.
To learn more, go to The benefits of home insurance page.
I don't own a house or condo, or anything of great value. Do I still need renter's insurance?
Yes. While you may not need a lot of coverage for your personal possessions, you do want the added security of personal liability insurance and for living expenses if, due to loss or damage, you cannot live in your rental (for example, while repairs are made after a fire).
What's considered standard on home insurance coverage?
While policies can differ greatly, there are some standards features that are part of just about every home insurance plan, including:
- Building coverage — if you own a house or condo (if you need it)
- Contents — your personal property
- Personal liability — should someone hurt themselves while visiting your home
- Additional living expenses — for temporary accommodations and expenses if you cannot live at home due to covered loss or damage
How are home insurance premiums calculated?
Many factors are taken into account when calculating home insurance, including:
- Geography — Are you in a high theft area?
- Amount of coverage — The higher the coverage amount, the higher your rates.
- Optional coverage add-ons — For example, since water damage coverage does not cover floods, you may want to add optional coverage such as sewer back-up water damage coverage.
- Your deductible — You can choose to lower or raise your deductible (the amount you pay on a claim). The higher your deductible, the lower your premiums.
- Safety features — An alarm system, smoke detectors and other security features may help reduce the cost of your home insurance.
To help you get the right coverage, we’ll need some information about the home you want to insure. To make the process even quicker, gather the following information before you start:
- Postal code
- Year home was built
- Total square footage, excluding basement
- Percentage of basement that’s finished
- Type of roof and year roof was last renovated
- Heating system
- Alarm system (if any)
- Number of smoke detectors
- Your claims history (reason, year and month)
Once a quote is generated, you’ll be able to choose between applicable Advantage home insurance options and recalculate your premiums.
Why choose TD Insurance?
Get the right advice
Our qualified advisors can
help you get the best coverage
for your needs.
Get the best
TD Insurance is the largest
direct-response home and auto
insurance group in Canada.
Get coverage you
TD Life Insurance Company
is a leading provider of life
and health insurance to Canadians.
Get preferred rates
We offer preferred group
rates on home and auto insurance
for alumni, students and professional associations.