Tenant insurance covers three things: your belongings (fire, theft, water damage), liability if you cause damage or someone is hurt in your unit (typically $1–2 million), and additional living expenses if you're displaced — hotel and meals while your unit is uninhabitable. Landlords' building insurance covers none of that, and many Toronto leases now require proof of a policy.
What it costs
Most Toronto renters pay roughly $20–45 a month, depending on contents coverage, deductible, claims history and the building itself. Older buildings without sprinklers, or addresses in basement-flooding study areas, can price higher — building pages on this site show sprinkler status and year built from the City's records, which is useful context when comparing quotes.
Shopping notes
Compare at least three quotes; check whether sewer backup is included for ground-floor and basement units; and if you have a bike worth more than the default limit, schedule it separately. Bundling with auto insurance usually earns a discount.
This page is general information, not insurance advice.