Bottom line: Ontario renters should compare quotes using identical coverage assumptions. A cheaper quote with a much higher deductible or lower liability limit is not an apples-to-apples win.
Current comparison snapshot
| Provider / option | Best for | Current facts | Watch for |
|---|---|---|---|
| Square One | Highly customizable online tenant coverage | Square One currently advertises Ontario tenant insurance from $15/month, online quoting in about 5 minutes, replacement-cost protection, liability coverage, customizable specialty-property limits and standard deductibles from $250 to $5,000. | The $15/month figure is a starting price. Inland flood, water backup, earthquake and specialty-property options can change both price and protection. |
| Sonnet | Fully online Ontario quoting with optional water coverage | Sonnet’s Ontario tenant policy includes personal liability, personal belongings, extra living expenses and unit improvements. Depending on eligibility, sewer-backup and overland-water protection can also be added. | Water coverage is eligibility-dependent. Confirm limits for jewellery, bicycles, electronics and other higher-value items instead of assuming standard contents coverage is unlimited. |
| TD Insurance | Traditional insurer, affinity discounts and auto bundling | TD tenant coverage includes contents at replacement value, personal liability and additional living expenses, with online quoting and optional auto bundling. TD publishes a historical Ontario average of $364/year for a specific eligible affinity-group profile using $30,000 contents, a $1,000 deductible, $15,000 additional living expenses and $1 million liability. | The published average is for a specific group-customer profile and is not a quote. Your address, claims history, deductible and coverage limits can materially change the premium. |
| 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 carry cancellation fees if cancelled mid-term. Do not rely on older reviews describing month-to-month cancellation terms. |
Tenant insurance is not legally mandatory in Ontario, but your lease can require it
Ontario does not generally require tenant insurance by statute. A landlord can still make proof of renter insurance a condition of the lease. Check the liability limit in your lease before buying so you do not end up replacing or amending the policy immediately.
Compare like for like before choosing the cheapest quote
Use the same contents replacement value, liability amount and deductible on every quote. Also match sewer-backup and overland-water options where available. A $20 policy with materially lower contents or liability protection is not cheaper in any meaningful apples-to-apples sense.
Square One is especially useful when you want to control the policy design
Square One allows unusually granular choices around limits, deductibles and specialty property. That is useful for renters who want to avoid paying for broad preset limits they do not need, but it also means you need to actively choose appropriate limits rather than simply accepting defaults.
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
- Use your exact Ontario address.
- Set the same contents and liability limits on every quote.
- Compare deductibles.
- Check sewer backup and water options where relevant.
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
How much tenant insurance do I need in Ontario?
It depends on the replacement value of your belongings, liability exposure and lease requirements. Inventory your possessions before choosing contents coverage.
Can roommates share one tenant policy?
Policy rules vary. Do not assume an unrelated roommate is covered; ask the insurer how each occupant must be listed.