Bottom line: Tenant insurance is inexpensive relative to the risks it can cover, but policies differ. Compare liability, contents, additional living expenses and exclusions—not just the monthly premium.
Current comparison snapshot
| Provider / option | Best for | Current facts | Watch for |
|---|---|---|---|
| Square One | Customizable online coverage | Square One currently advertises tenant insurance from $15/month, online quotes in about 5 minutes, replacement-cost protection, personal liability, additional living expenses and customizable deductibles and specialty-property limits. It currently serves British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. | The $15/month figure is only a starting price. Water, earthquake and specialty-property options can change both premium and protection. |
| TD Insurance | Traditional insurer, affinity discounts and bundling | TD tenant insurance includes contents at replacement value, personal liability and additional living expenses, with online quoting and optional auto bundling. | Published sample premiums apply to specific profiles and should not be treated as your expected price. Match limits and deductibles across quotes. |
| Duuo by Co-operators | Digital annual policy with monthly-payment option | Duuo now sells annual tenant-insurance policies rather than its former month-to-month product. Annual policies can be paid in monthly instalments and may include broader options such as flood coverage. | Duuo states that annual policies may have cancellation fees when cancelled mid-term. Older reviews describing month-to-month tenant coverage are outdated. |
| Sonnet | Fully online quoting and purchase | Sonnet tenant insurance includes protection for personal belongings, personal liability and additional living expenses, with optional protections depending on province and eligibility. | Province availability, water coverage and limits for higher-value property vary. Confirm the actual quote and policy wording before purchasing. |
Match the coverage before comparing price
Use the same contents replacement value, liability limit and deductible for every quote. Where relevant, also match sewer-backup, overland-water and specialty-property coverage. Otherwise the cheapest premium may simply reflect less protection.
The landlord’s policy does not replace tenant insurance
A landlord generally insures the building itself. Tenant insurance is designed around your belongings, personal liability and certain additional living expenses after a covered loss. A lease can also require proof of tenant liability coverage.
Re-check cancellation terms before buying
Digital insurers are not all equally flexible. Square One currently says customers can cancel without a cancellation penalty, while Duuo now uses annual policies that can carry mid-term cancellation fees. That matters if you expect to move or change insurers within the year.
Provider pages checked for this comparison
These links go to the providers’ own current product or route pages. Re-check them before applying or purchasing because pricing and promotions can change.
What to compare
Do not compare brands on one promotional number. Put the products side by side using the same assumptions and the factors that affect your recurring cost and ability to use the product.
How to make the decision
- Estimate replacement cost of your belongings.
- Choose adequate personal-liability coverage.
- Compare the same deductible across quotes.
- Read water, theft and high-value-item exclusions.
Size tenant-insurance coverage before comparing quotes
Use a replacement-cost inventory and the lease requirement—not a headline starting premium—to set the comparison. Then quote every insurer using the same contents limit, liability amount, deductible and optional water coverage.
CanadaStarter methodology
We prioritize total cost, eligibility, practical usability and downside risk. We separate temporary promotions from ongoing terms and prefer primary provider disclosures for fees and eligibility. We do not treat a higher affiliate payout as evidence that a product is better.
Because financial products, insurance policies, telecom plans and promotions change frequently, use this guide to narrow the field and then confirm the final terms on the provider’s official website before applying or purchasing.
Information for home buyers or renters, including insurance
Use this primary source alongside our comparison when checking rules, consumer rights or government guidance.
Government of Canada – Office of Consumer Affairs →Frequently asked questions
Is tenant insurance legally required in Canada?
Requirements can depend on your lease and province. Many landlords require proof of tenant insurance even where there is no general statutory requirement.
Does tenant insurance cover my landlord’s building?
The landlord generally insures the building. Tenant insurance focuses on your contents, liability and certain additional living expenses, subject to the policy.