Covers repair/replacement/restoration if structure damaged/destroyed by insured peril (fire, hail, natural disasters); can add full replacement value coverage.
Covers landlord-provided appliances and furnishings (not tenant belongings); tenants need their own tenant insurance.
Compensation at 'fair rental value' for period property is uninhabitable; based on market rate, not actual rent charged.
Legal hotline access, document drafting, full defence coverage; access legal aid without triggering an insurance claim.
Generally covered by property insurance, but extra protection may be warranted given non-resident status.
Specialized coverage built around your rental property, its contents, and liability protection.
Tell us about your insurance needs and current coverage.
We shop multiple trusted insurers to find coverage that fits your needs and budget.
Review your options, choose what fits your needs, and get your policy started, often the same day.
Serving all of Ontario, our brokers are available in every region. Find the closest office to you.
Don’t see your city? Call us to find
the nearest broker to you
Our licensed brokers help clients throughout Ontario — virtually, by phone, or in person.
What is Rented Dwelling Insurance?
Also referred to as rental property insurance or landlord insurance, rented dwelling insurance is a type of insurance designed to protect a residential property owner from financial losses related to physical damage or destruction of their property and belongings, along with covering other expenses such as legal costs in the event of a liability situation. Rented dwelling coverage can also provide coverages such as rental income protection, so you can receive compensation for lost income if a fire or other insured peril renders your property unfit for occupancy and your tenants have to move out.
Who Needs to Have Rented Dwelling Coverage?
Anyone who owns a residential property (or multiple income properties) that they plan on renting out to a tenant. Ontario property owners are vulnerable to claim risks — could lose significant money without insurance company recovery funds.
Is Rented Dwelling Insurance Mandatory?
Not legally mandatory in Ontario or Canada. Likely mandatory if there is a mortgage on the investment property. Essential regardless: risks of renting to strangers, vandalism scenarios, eviction costs, legal fees, accidents by well-intentioned tenants.
What is the Difference Between Rented Dwelling Insurance and Renters Insurance?
Rented dwelling policies held by property owners — protect the owner. Renters/tenant insurance held by tenants — protects their personal belongings and liability. The two coverages apply to different items: rented dwelling covers property and landlord-owned items; tenant insurance covers the tenant's belongings.
Should Tenants Be Required to Have Tenant Insurance?
Recommended to include a requirement in the rental agreement. Benefits the tenant (belongings, liability coverage). Also benefits the landlord: reduces risk of personal/legal conflict if tenant causes accidental damage; helps ensure full insurance compensation for building damage; some carriers may require occupants to have tenant insurance as a condition of providing rented dwelling coverage.
