![]() Tenant's insurance with RBC Insurance is underwritten by Aviva, similar to their car insurance products. Plus, we'll also take a look at tips to get cheaper tenant insurance in Canada.Īs Canada’s biggest bank, RBC offers a variety of products, including tenant’s insurance. This page will also take a look at what tenant insurance covers, the different types of tenant insurance, how much tenant insurance usually costs, and comparing Canadian tenant insurance providers. This page will help you understand the basics of tenant insurance so you can make the best decision for your needs. With so many options available in Canada, it can be difficult for first-time renters and seasoned renters alike to understand what tenant insurance is. It can also give you coverage for things like temporary accommodations if your rental unit becomes uninhabitable due to a fire, flood, or other disaster. Even though it can be an additional cost on top of your rent, tenant insurance is relatively affordable, especially when you consider the peace of mind it can provide. That would be covered by landlord insurance, and it would be paid for by your landlord. ![]() It is important to note that tenant insurance does not cover the actual structure of the rental property. Most tenant insurance policies usually cover up to $1 million in Canada, however, you can purchase additional add-ons to your policy to extend your coverage. Tenant insurance, also called renter’s insurance or contents insurance, is designed to protect tenants and renters in case of damage to their belongings or personal liability for damages. Even if you don't own the property you are renting, there is always a risk that something could happen to your belongings or that you could be held liable for damages or injuries. ![]()
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