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What is tenant insurance and why is it important?

Think insurance is only important if you own your home? Think again. It’s actually a good idea for renters too. Some landlords may even require it.

With tenant insurance, your belongings are insured, both in and out of your home. Our coverage even provides financial protection for accidental damages you may be liable for as a result of your actions.

What does tenant insurance cover?

  • Standard coverage

    With TD Insurance you get extensive coverage even, with the base policy:

    • All Risks
      Your belongings are covered against damage from events such as fire, theft, water and natural disasters. In fact, you’re protected against all causes of loss except industry standard exclusions like illegal activity or wear and tear.

    • Contents
      Most of your belongings are insured up to the amount you decide on, while some items (such as fine art and jewellery) are subject to limits and may require increased limits with either Enhanced Home Coverage or Personal Valuables Coverage.

    • Additional Living Expenses
      If you can’t live at home while repairs are being made because of a claim, we’ll cover your temporary increased living expenses required to maintain your current standard of living.

    • Personal Liability
      You’re protected in case a visitor gets injured inside your home or if you’ve accidentally damaged someone’s property and have to pay for the damages.

  • Optional coverage

    Need more than the basics? TD Insurance has coverage add-ons to meet your needs:

    • Enhanced Home Coverage
      Provides increased coverage for a variety of specialized items such as fine art, wine and spirits, some collectibles, jewellery and more. Your protection also extends to family members living in nursing homes, and for situations such as cyberbullying.

    • Claim Forgiveness
      With this option, your premium won't increase at renewal as a result of a claim that happens in the policy term.2

    • Identity Theft Recovery
      Protect your family in case of identity theft with reimbursement for costs related to restoring your identity.
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Why choose TD Insurance?

How much is tenant insurance?

In Ontario, the average cost of tenant insurance is $352 a year for someone belonging to a professional, alumni or employer group. Your premium will vary depending on factors such as Affinity affiliation, your location, and the value of your belongings.3

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Steps to buy tenant insurance online

  • 1. Start a quote

    Start by answering a few questions to get an accurate quote based on your needs, as well as any applicable discounts. Your information is kept completely confidential.

  • 2. Customize your coverage

    Once you have a quote, you’ll have a chance to fine tune your coverage to best suit your needs. You can adjust things such as deductible amounts and coverage limits.

  • 3. Complete your purchase

    After you’re satisfied with your coverage, it’s just a matter of reviewing your choices, selecting a payment method and checking out.
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Tips and advice for tenants

What is tenant's insurance?

Cover your belongings and protect yourself with tenant insurance.

Water damage insurance coverage

Key things you need to know about water damage insurance.

What is contents insurance?

What you should know about contents insurance.

The content on this page is for general information purposes only and does not constitute legal advice. Coverages described herein may be subject to additional eligibility criteria, limitations and exclusions. In the event you make a claim, potential indemnification is also subject to the receivability of the claim and the type of coverage you bought.

In the case of conflict between the content on this page and your policy wordings, your policy wordings shall take precedence. Please speak to an Advisor or consult your policy wordings for further details.

1 10% Home Insurance Savings (not available in Quebec)

10% savings off eligible coverage in the first policy term is derived from a combination of two separate discounts:
- a 5% Digital Discount for completing the home, condo or tenant insurance quote online. This Digital Discount will continue to be applicable upon policy renewal.
And
- 5% Buy Online Discount in the first policy term for completing the home, condo or tenant insurance purchase online. Both the Digital Discount and Buy Online Discount are applicable to premiums charged for the base insurance policy and the following endorsements: Above Ground Water, Extended Water Damage and Fuel Overflow or Escape.

5% Savings on Home Insurance (Quebec only)

Home Insurance: A Buy Online Discount of 5% in the first policy term will be applied to premiums charged for the base insurance policy and the following endorsements: Above Ground Water, Extended Water Damage and Fuel Oil Overflow or Escape.

Conditions apply. Subject to eligibility rules.

In order to be eligible for the Buy Online Discount for home or car insurance, you must meet eligibility requirements to buy home or car insurance online and complete your purchase of this insurance online. Note: You may not always be given the option to buy online. This may occur, for example, if information provided requires additional verification or if your purchase must be completed with an advisor based on your specific insurance needs. If you are unable to buy online, we encourage you to call and speak to one of our licensed advisors or let us call you!

Offers may be changed, withdrawn or extended at any time without notice.

2Your premiums may still increase at renewal time for reasons unrelated to your claim, such as changes made to the policy.

3 This is the average annual premium of a tenant insurance policy for our clients in your province who belong to a professional, alumni or employer association that have an agreement with us and who insured a rental with our Home Coverage – Tenant base policy with Personal Property (Contents) Coverage of up to $40,000 on May 27, 2022 (underwritten by Security National Insurance Company for alumni and professional associations and underwritten by Primmum Insurance Company for employer groups).

4 This is the average annual premium of a tenant insurance policy for our clients in your province who insured a rental with our Home Coverage – Tenant base policy with Personal Property (Contents) Coverage of up to $40,000 on May 27, 2022 (underwritten by Primmum Insurance Company or TD General Insurance Company in Ontario).

Your premiums are not guaranteed and will vary based on your profile.

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