Tenant Insurance in Markham & Ontario
Your landlord's insurance covers their building. It doesn't cover your belongings or your liability.
Verdant Insurance helps renters in Markham and across Ontario compare tenant insurance (also called renters insurance) for apartments, condos, basement units and rented houses, often with proof of insurance ready for your landlord the same day.
What Does Tenant Insurance Cover?
Coverage varies by insurer and policy, but a tenant policy in Ontario is typically built around these parts:
Your Belongings
Furniture, electronics, clothing and other personal property can be covered against insured perils such as fire, theft and certain types of water damage, at home and in many cases away from home.
Personal Liability
If you accidentally cause injury to someone or damage to someone else's property, including the landlord's unit or a neighbour's, liability coverage can help with the resulting claim.
Additional Living Expenses
If an insured loss makes your unit unlivable, the policy can help with reasonable extra costs such as temporary accommodation while repairs are made.
Water & Sewer Backup
Sewer backup and some overland water losses are often optional add-ons rather than automatic. This matters for basement apartments in particular.
Valuable Items
Jewellery, bikes, cameras and similar items may have lower limits under a standard policy. Higher-value items can often be scheduled separately.
Replacement Cost
Ask whether your contents are insured for replacement cost or actual cash value, which accounts for depreciation. The difference can be significant at claim time.
Exact coverages, limits, exclusions and deductibles depend on the insurer and the policy wording. A Verdant broker will walk you through what is and isn't included before you buy.
Isn't My Landlord's Insurance Enough?
A landlord's policy is designed to protect the landlord's building and their own liability. It generally does not insure a tenant's personal property or a tenant's liability to others.
That's why many Ontario landlords and property managers require tenants to carry their own insurance and provide proof before move-in or at lease renewal.
Renting out a property yourself? See our home and property insurance options, or Airbnb and short-term rental insurance.
Tenant Insurance for Every Kind of Renter
Apartment Renters
Coverage for renters in apartment buildings and rental towers across Markham, the GTA and Ontario.
Condo Renters
Renting a condo from an owner is different from owning it. The owner and the condo corporation insure their parts; you insure yours.
Basement Apartments
Basement units carry particular water-damage exposure, so it's worth reviewing sewer backup and water coverage options carefully.
Students
Students living off campus can review whether they're covered under a parent's home policy or need their own tenant policy.
Roommates
Roommates generally can't assume one person's policy covers everyone. We can explain how insurers handle shared units.
Newcomers to Canada
Many landlords ask newcomers for proof of tenant insurance. We can help you get coverage in place for your first Ontario rental.
How Much Does Tenant Insurance Cost in Ontario?
Tenant insurance is often one of the more affordable types of insurance, but the price depends on your situation and the insurer.
Common factors include the amount of contents coverage, liability limit, deductible, location and type of building, claims history and optional add-ons such as sewer backup.
Many renters can also save by bundling tenant insurance with their car insurance, depending on the insurer.
How Much Contents Coverage Do I Need?
A quick way to estimate it: walk room by room and add up what it would cost to replace everything at today's prices.
Most people underestimate this total. Photos or a short video of each room also make claims much easier.
Tenant Insurance From a Local Markham Broker
Verdant Insurance is located at 675 Cochrane Drive in Markham and helps renters throughout Ontario.
As a broker, we can compare tenant insurance options from multiple insurers rather than offering just one company's policy, and help you get proof of insurance to your landlord quickly.
Tenant Insurance FAQ
Is tenant insurance mandatory in Ontario?
Ontario law does not require tenants to carry insurance, but many landlords and property managers require it as a condition of the lease. Check your lease agreement.
Is tenant insurance the same as renters insurance?
Yes. "Tenant insurance" and "renters insurance" generally refer to the same type of policy, which covers a renter's belongings, liability and additional living expenses.
Does my landlord's insurance cover my belongings?
Generally, no. A landlord's policy is designed to protect the landlord's building and interests, not a tenant's personal property or the tenant's liability.
How quickly can I get proof of tenant insurance for my landlord?
In many cases, once coverage is bound we can provide proof of insurance the same day. Have your new address, move-in date and the landlord's details ready.
Do roommates need separate tenant insurance?
Often, yes. Whether roommates can share a policy depends on the insurer and the relationship between the occupants, so it's best to confirm before assuming you're covered.
Can I bundle tenant insurance with my car insurance?
Many insurers offer multi-policy discounts when you combine tenant and auto insurance. Availability and savings depend on the insurer.
Moving Into a New Rental?
Tell us your address, move-in date and roughly what your belongings are worth, and a Verdant Insurance broker will compare tenant insurance options for you.