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Contents Insurance Coverage in Ontario

Ensure your personal belongings are properly covered by the right insurance.
  • Protect your personal belongings in the event of a loss
  • Inventory your possessions to help you recover from a loss
  • Insure your laptops, TVs, furniture, jewellery and much more
Complete the form or call 1-800-463-8074 to speak with a licensed broker about Contents Insurance today.

Contents Insurance in Ontario

Your home is precious to you, and part of what makes a house, condo or apartment a home is your possessions. It's your vintage comic collection. Your paintings collected on your travels. Your mother's jewellery. These items are special for a reason: they are a part of your identity, your sense of belonging. Losing these possessions can be absolutely devastating, especially when you have no recourse.

That's where contents insurance in Ontario comes in. With a contents insurance policy, you can have peace of mind knowing that your possessions are properly protected. While not all items are replaceable, those that are can be repurchased with the financial support offered by a contents insurance policy. And while there is no replacement for your mother's engagement ring, receiving the value of the ring can help soothe the sting of its loss.

Understandably, you may have some questions about contents insurance in Ontario. The good news is, our team of qualified insurance brokers is always more than happy to chat about your insurance needs. We're here to help you find the best possible coverage at a competitive rate, which is why we have nurtured relationships with all of Ontario's top insurers. We know who to talk to and where to look to find you the most comprehensive coverage possible. That way, you can have peace of mind knowing your home and possessions are properly protected.

What is Contents Coverage?

Contents insurance is a component of a home insurance, condo insurance, or tenant insurance policy and will protect your belongings from common perils such as fires, natural disasters, theft and vandalism up to a specified limit outlined on your policy. Whether you own a home or rent, having the proper contents insurance policy in place will protect your possessions. These possessions can include furniture, appliances, clothing, electronics, bicycles, art, jewellery, furnishings, toys and much more.

Need more protection for your belongings? Additional coverage is available and can be easily added to your policy with the help of a qualified broker. For instance, you may want additional coverage for high-value items that are not easily replaced.

Why Do I Need Contents Insurance Coverage in Ontario?

You need contents insurance to protect your possessions in your home in the event of an insured loss such as damage, theft or vandalism. In the event you do not have enough contents coverage, you will have to pay out-of-pocket to replace these items. While you might enjoy the opportunity to redecorate, the reality is that the cost of outfitting your home can be immensely stressful—especially when you have other things to worry about following a fire, theft or natural disaster. This is why it is so essential to insure your home contents with the right amount of contents insurance coverage.

Who Needs Contents Coverage?

If you have personal belongings in your home that you have purchased, whether you own or rent, you should have contents insurance. Furniture, clothing, large and small appliances, linens, electronics, collectables, bicycles. All of these belongings and more can be included in your policy. In the event of a loss, with the proper amount of contents insurance coverage, you can avoid having to pay out-of-pocket to replace these items. It is essential to insure your personal belongings.

How Does Contents Insurance Coverage Work?

Contents insurance works by protecting your belongings if you have a loss specified in a home, condo or tenant insurance policy. In most occurances, it will cover the replacement cost of the value of the items you have lost. It is usually included in a renters or standard home insurance policy. For this reason, it's very important to be as accurate as possible in estimating how much your valuable possessions are worth when applying for an Ontario contents insurance policy.

For instance, suppose you leave your home one day and return to find it empty. Yes, nothing but bare walls. You are the victim of theft. What do you do? If you’ve made the smart move of investing in contents insurance coverage, you can contact your insurance broker and explain what's happened. Your broker will contact the insurance company and start a claim for you. If you didn't properly insure your contents, you would have to pay out-of-pocket to replace your belongings such as your furniture, clothing and appliances. It is recommended to have enough contents insurance to replace your possessions.

What is Covered With Ontario Contents Insurance?

Contents insurance covers items in your home that you have purchased. These items can include electronics, furniture, appliances, jewellery, wall art and much more. With the right amount of coverage for your possessions, these items will be covered in the event of a loss. If you don't have enough coverage, you will have to pay out-of-pocket to replace these items.

It is highly recommended that you do an inventory of your home, room by room, to determine the amount of coverage you need. It is important to note that if you are renting, and appliances or furniture come with the unit, these items are not included in your contents coverage. Rather, it would be your landlord's responsibility to replace in the event of a loss.

If you own your home, your contents insurance coverage amount is commonly a percentage of the insured dwelling amount.

If you are renting or own a condo, you will need to determine the amount of contents insurance coverage you require. Typically, we recommend a minimum of $30,000 in contents coverage. If your owned possessions exceed this amount, additional coverage is available to ensure you are properly protected in the event of a loss.

Some specific contents, such as jewellery or collectibles like your vintage comic book collection, may have a limit as to how much your insurance company will pay if you experience a loss. You can purchase additional coverage for your most valuable belongings.

To determine the amount of contents insurance coverage you need, seek guidance from an insurance broker such as the expert team at Morison Insurance. Your broker can help make getting insurance easy, and ensure you have the right coverage for your possessions.

How Much Contents Insurance Coverage Do I Need?

You should have enough insurance to replace your owned possessions with ones of similar type and quality in the event of a loss such as damage, theft or vandalism. If the contents limit that is outlined on your home, condo or tenant policy is not enough to cover your possessions, you can purchase additional insurance. Without the proper amount of coverage, you could be forced to pay out-of-pocket to replace those items in the event of a loss. Insuring your contents is extremely important. An insurance broker will discuss what belongings you have and help you determine how much insurance you need to insure your valuable items. The best way to find out if you have the right amount of contents coverage, is by completing a home inventory list.

How Much Does Contents Insurance Cost?

Contents insurance is included in most home insurance and tenant insurance policies, which can cost anywhere between $350 and $3,500 annually. Your insurance premium will vary depending on several factors, including whether you own or rent, the size of your dwelling, construction details, personal contents, the age of your electrical services, pipes and roof, and much more.

Speak with an insurance broker who will help determine the cost to cover all of your contents in your home.

What Does "Contents Limit" Mean?

Contents limit is the maximum amount an insurance company will pay for personal possessions in your home if you have an insured loss. The contents limit is detailed in your home insurance policy or tenant insurance policy. If the limit is not sufficient, you can purchase additional coverage. You may want to schedule and buy extra insurance for particular possessions, such as jewellery and art, to ensure these items are appropriately insured.

What is Excluded in a Contents Insurance Policy?

As extensive as a contents insurance policy in Ontario can be, there are a few exclusions that homeowners and renters should be aware of. For instance, some exclusions include:

  • Property damage because of bed bugs and other vermin such as raccoons, birds and rats. 
  • Certain natural disasters, such as an earthquake if you live in an earthquake zone. 
  • Typical wear and tear and accidental damage, which cannot be insured. 
  • Intentional property damage by you, the owner of the damaged possessions.
  • Certain types of flooding damage, such as water damage due to sewer back-ups and overland flooding. However, you can protect your belongings against those types of damage by purchasing an additional endorsement.

How Do I Make a Contents Insurance Claim?

Say your camera equipment and laptop were stolen while you were out. As soon as you notice the loss, it's important to contact your insurance company right away. At Morison Insurance, we offer a 24/7 claims advantage. While our brokers work office hours, you can reach your insurance company through a direct line available on our website's make a claim section if you notice the loss after-hours. Once you have connected with your insurance agent, you can create and submit your claim. It helps to be prepared by taking photos of any damaged property, including pertinent receipts, and having an itemized list of the sustained losses.

You will need to fill out some paperwork, and then the insurance agent will give you a claim number to track its progress. It's possible that your insurance agent will send out a claims adjuster to your property to assess the damage and provide an estimate or recommend the next steps to help you replace the lost items.

Preparing a Home Contents Insurance Checklist

If you had to list all of your belongings in your home, could you do it? Most of us would probably miss more than a few things. Could you remember the age of these items and how much it would cost to replace them? That's even tougher.

If you are like most of us, completing a detailed inventory of your belongings will be super helpful when determining how much contents coverage you need and, in the event of a loss, replacing your belongings. The Insurance Bureau of Canada provides a personal property checklist that can help when compiling an inventory. Think window coverings, sporting equipment, cutlery, toiletries, BBQs, luggage, bedding, art, cabinets, sofas, lighting fixtures and so much more. It's enough to make your head spin! A property checklist can make this daunting task manageable.

These checklists help you to divide and conquer. Go through your home room by room and record every valuable item—use a pen and paper, spreadsheet, video, photos or whatever works best for you—to get a detailed listing of your belongings.

Where Can I Get Contents Insurance Coverage?

You can get contents insurance from Morison Insurance. We are more than pleased to help you get an insurance policy that will provide coverage for your personal belongings. Our team of highly experienced brokers works hard every day to help protect homeowners and renters with the insurance that they need. Our goal is to find you the absolute best coverage possible, so you never have to worry should the worst-case scenario happen. We can’t foresee the future, but we can prepare for what may happen down the road.

Furthermore, at Morison Insurance, we are a family-owned and operated company. This means that we treat all our clients like members of our extended family. It truly matters to us that you are satisfied with our services and that you feel properly protected. In fact, our brokers relish getting to know our clients and adjusting their insurance needs as their lives change.

If you're ready to insure your valuable items with help from a trusted insurance broker, get started today by filling out the form on our website, or give us a call at 1-800-463-8074. We look forward to finding you the absolute best coverage possible at a competitive quote!



This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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