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Ontario Contents Insurance Coverage

Ensure Your Personal Belongings Are Properly Covered.
  • 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.

What Is Contents Insurance Coverage?

Contents insurance is a component of a home insurance, condo insurance, or tenant insurance policy and will protect your contents up to a specified limit outlined on your policy. Whether you own a home, condo, or rent, having the proper 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 an insurance broker.

Why Do I Need Contents Insurance Coverage?

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. This is why it is so essential to insure your home contents with the right amount of coverage.

Who Needs Contents Insurance 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 insurance policy. In the event of a loss, with the proper amount of contents coverage, you can avoid having to pay out-of-pocket to replace these items. It is essential to insure your personal belongings.

Ontario Contents Insurance - Morison Insurance

How Does Contents Insurance Coverage Work?

Contents insurance works by protecting your belongings if you have a loss specified in a home insurance, condo insurance, or tenant insurance policy.

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? Contact your insurance broker and explain what's happened. Your insurance broker will contact the insurance company and start a claim for you. But it's a good thing you have contents coverage! If you don't properly insure your content, 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 Does Contents Insurance Cover?

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, in the event of a loss, these items will be covered. 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.

If you own your home, your contents 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 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, may have a limit as to how much your insurance company will pay in the event of a loss.  You can purchase additional coverage for these valuable contents.

To determine the amount of contents coverage you need, seek guidance from an insurance broker. The insurance broker can help make getting insurance easy, and ensure you have the right coverage for your possessions.

Contents Insurance Coverage - Morison Insurance

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 insurance policy is not enough to cover your possessions, you can purchase additional insurance. Without the proper amount of coverage, you could be left having to pay out-of-pocket to replace these 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.

How Much Does Contents Insurance Cost?

Contents insurance is included in most home insurance and tenant insurance policies that can cost anywhere between $200 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.

Contents Insurance - Morison Insurance Ontario

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 tougher.

If you are like most of us, completing a detailed inventory of your belongings would 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 – by 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 the insurance policy that will provide coverage for your personal belongings. Get started today by filling out the form on our website, or give us a call at 1-800-463-8074. You'll be happy you did!


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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