Is tenant insurance mandatory in Ontario?
No Ontario law requires tenant insurance, but your landlord can require liability coverage in your lease. What tenant insurance covers and why it is worth having.
By Monteiro Insurance Brokers. . 3 minute read.
The short answer: Ontario law does not require you to have tenant insurance. But your lease might.
What the standard lease says
Ontario’s standard lease has a section on tenant’s insurance. According to the province’s guide, a landlord and tenant can agree that the tenant must carry liability insurance, and if the landlord asks for proof, the tenant must provide it. Insurance for your belongings (contents insurance) is up to you.
In practice, many landlords in Cambridge, Kitchener and Waterloo ask for proof of tenant insurance before you move in.
What tenant insurance covers
- Your belongings. Furniture, clothes, electronics and more, after a fire, theft or water leak.
- Liability. If you accidentally damage the building or a neighbour’s unit, or someone is hurt in your home.
- Additional living expenses. A hotel and meals if your unit is unlivable after an insured loss.
Why it is worth having even if your lease does not require it
Your landlord’s insurance covers the building and the landlord, not you. If a kitchen fire starts in your unit and spreads, you could be held responsible for the damage. Tenant insurance is one of the least expensive policies you can buy, and it can often be bundled with your car insurance.
Students
If you are a student renting in Waterloo or Guelph, check whether you are still covered under your parents’ home policy. Some policies extend coverage to students living away from home, often with limits. If not, a tenant policy fills the gap.
Need proof of insurance for a lease? Call us at 519-623-7031. We can usually arrange coverage and send proof the same day.
Sources
This article is general information about insurance in Ontario and is not advice for your specific situation. Your coverage depends on your policy wording.