Tenant Insurance Comparison Review

  • 4 min read

If you rent your home, tenant insurance is a great option for insurance protection. It protects items within your home against theft, vandalism, and fire. Shopping around for tenant insurance can be a time-consuming task. An easy and quick way to find quotes and shop around is Rates.ca. It’s a website that provides instant insurance quotes after you fill out an online form that takes about 5 minutes (or so) to complete.

The site works with various insurance companies across the board, including CAA, Aviva, Zenith, and Intact, just to name a few! Plus, Tenant Insurance by Rates.ca is very simple to navigate through.

If you’re looking for tenant insurance quotes, the first step is to log onto the website. Once you are on the homepage, head to the “Home Insurance” menu option at the top. The next step is to click on the “Tenant Insurance” option, which brings you to the beginning of the online form. Select the province you reside in, and you can get started!

The first page of this online form provides some choices. Rates.ca has partnered with APOLLO, a leading Canadian digital insurance provider, to help search out the best tenant insurance rates. To begin, ensure you click on the “Renters & Tenants” buttons to move forward. After you press continue, you’ll “officially” be in the online form.

There are six steps within this online form. The first one will “get you started”, and asks questions about whether you are renting a condo, townhouse, townhouse condo, freehold condo, apartment, house, or a basement within a house and the age of the building you reside in. Depending on the type of building, you may be asked how many storeys it has. After you have completed this, the form takes you to the next page, which centers around your personal information. You will need to fill out your full name, address, birth date, and phone number. 

The next step is tenant insurance details. You’ll be asked when you want the insurance policy to take effect, how much you want covered for personal belongings (it ranges from $10,000 to $100,000), plus, the amount of Additional Living Expenses (ALE) coverage. It’s important to note that $2,000 of ALE coverage is included in most policies. The range you can choose from is $2,000 to $15,000. You’ll also be asked if you have a roommate in your apartment that you are not related to. Questions around additional coverage options are provided during this step too. 

Lastly, there is a section on Personal Liability coverage. This protects you from injuries within your rental home, plus, when you are traveling, and even if you are injured playing sports. The options available are $1M or $2M (which is less than $3 more extra each month). In addition, the form asks about your desired deductibles, which range from $500 to $1,000. Finally, you’ll also be asked the type of package you’d prefer (i.e. Basic, Enhanced, or Enhanced with Water Coverage).

After you complete this section, the site will offer a tenant insurance quote. It’ll provide monthly or annual payment options, as well as “full quote” details with figure amounts that are designated to specific coverage areas. 

Once you’ve reviewed your tenant insurance policy quote, the next step within the form is to add details about your rental house. Some questions include whether or not you have a pet, and if there is a a co-applicant on the house you are renting. Lastly, the final part of the form offers “eligibility” questions; these determine whether you can proceed with the tenant insurance, based on specific circumstances.

If you’d like to proceed, you can go to the “Checkout” portion of the form. It’s important to note, that at some point within the online form, a prompt may pop up, alerting you that more info. is needed from a representative. Someone from Rates.ca may call you within minutes for added details about your selected tenant insurance coverage, to complete your application.

For more information, or to receive an instant condo insurance quote, visit Tenant Insurance by Rates.ca.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.