Hey guys,
I recently received a notice of an annual rent hike from my landlord. Also, saying that tenant insurance is now required before any tenancy or renewal. Even though I find it unnecessary and a waste of money as our landlord had demanded to do so, I had no other option than agreeing. As a result, I consulted an insurance agent, and they explained to me the importance of renters insurance.
After discussing tenant insurance with the expert, I realized that I was wrong as it provides many benefits than we imagine. As a newbie in applying for tenant insurance, I’ve some doubts and concerns.
Is tenant insurance mandatory in Ontario?
Does insurance amount varies from company to company?
Hi there,
Thank you for sharing your question and situation with us.
Tenants insurance is not mandatory in Ontario, but may be a condition that a landlord requires and will usually be stated on the lease. If you are interested shopping for tenants insurance, you may find helpful information in the Settlement.Org article, Do I have to get tenant insurance?
We hope this information is helpful. Please let us know if you have further questions and if there is any follow up to your question/situation.
Sincerely,
Your Settlement.Org team