Insurance for the homes you rent out
A regular home policy is written for a home you live in. When you rent a house, a unit or a basement apartment, you need coverage built for a landlord.
How we help with rental property insurance
Whether you own a rental property, rent out your basement or rent out a home you used to live in, we make sure the policy reflects how the property is really used. If it does not, a claim can be denied.
What rental property insurance covers
- The building
- The structure, insured for its rebuild cost.
- Landlord liability
- If a tenant or visitor is hurt and holds you responsible.
- Loss of rental income
- Rent you lose while the property is repaired after an insured loss.
- Landlord-owned contents
- Appliances and furnishings you supply to tenants.
Where a broker makes a difference
Every situation is different. These are the ones we help with most often.
Basement and secondary units
Renting part of your home changes your coverage. Tell us before the tenant moves in.
Renting out your previous home
If you move out and rent your previous home to tenants, the policy needs to change. We handle it.
Brokers who handle rental property insurance
Every one of our licensed brokers can help. Call and whoever answers will look after you, or ask for someone by name.
Insurers we compare
Rental property insurance questions
Have a question that is not here? Call 519-623-7031 and ask a broker.
Do I need to tell my insurer if I rent out my basement?
Yes. A rental unit changes the risk, and failing to disclose it can affect a claim. We will update your policy so both you and the unit are covered properly.
Should my tenants have their own insurance?
We recommend requiring it in your lease. Their policy covers their belongings and their liability, which protects you as well.
Related coverage
Home insurance
Houses old and new, including homes other insurers have turned down.
Tenant insurance
Affordable protection for renters: your belongings, your liability and a place to stay.
Condo insurance
Your unit, your upgrades and the costs your condo corporation can pass on to you.
This page is general information about rental property insurance in Ontario. Your coverage depends on your policy wording. Coverage cannot be bound or changed by email, voicemail or web form. You must speak directly with a licensed broker.