Worth reviewing before a move
A move is often the best time to review coverage, reassess deductibles, and update the value of your contents.
See the moving guideRenter versus owner: what actually changes
| Aspect | Renter | Owner |
|---|---|---|
| What is insured | Your contents and liability | The building, your contents, and liability |
| Why the policy matters | Protects personal property and liability risk | Also protects reconstruction exposure |
| Typical pricing | 25 to 55 CAD / month | 90 to 220 CAD / month depending on home type |
| Who may require it | Often the landlord or lease terms | Often the mortgage lender |
What is often covered, and what is not
Fire and smokeOften covered
Usually part of the standard base coverage.
Theft and vandalismOften covered
Commonly covered, though deductibles and sub-limits can apply to valuables.
Personal liabilityOften covered
Essential if you damage a neighbour's unit or a visitor is injured.
Sudden water damageOften covered
Often covered, but sewer backup and infiltration wording should be reviewed closely.
Overland flood / river overflowOften excluded
Often excluded from the base policy unless an endorsement is added.
Wear and tear / poor maintenanceOften excluded
Insurance covers a loss event, not gradual deterioration.
EarthquakeOften excluded
Usually optional, depending on insurer and location.
Typical 2026 Quebec price ranges
| Profile | Insured value | Monthly premium | Notes |
|---|---|---|---|
| Rental apartment 3 1/2 | 15,000 to 25,000 CAD | 20 to 35 CAD | Simple profile with limited contents and lower exposure. |
| Rental apartment 4 1/2 or 5 1/2 | 25,000 to 50,000 CAD | 30 to 55 CAD | A common urban renter scenario. |
| Owner-occupied condo | Unit + contents | 60 to 120 CAD | The condo corporation policy does not replace your personal policy. |
| Detached house | Building + contents | 100 to 220 CAD | Pricing depends heavily on reconstruction cost and location. |
How to value your contents properly
Many households underestimate replacement value. The easiest method is to inventory large categories and estimate what it would cost to replace them new.
Electronics
2,000 to 8,000 CADLaptop, TV, tablet, console, camera
Clothing and footwear
3,000 to 10,000 CADCoats, boots, workwear, sportswear, accessories
Furniture
5,000 to 20,000 CADSofa, bed, mattress, desk, dining set
Appliances
2,000 to 6,000 CADWasher, dryer, fridge, stove if you own them
Leisure and valuables
1,000 to 10,000+ CADBike, skis, instruments, jewellery, watches
Take photos or a short video of each room and store the proof in the cloud. It makes a claim much easier if a loss occurs.
Frequently asked questions
Is home insurance mandatory for renters?
Not by law, but it is often required by the lease and remains essential for contents and liability exposure.
Why is the landlord's policy not enough?
Because it primarily protects the building. Your own contents are generally not covered by the landlord's insurance.
Replacement cost or actual cash value?
Replacement cost is often the stronger choice because it reimburses the cost of a comparable new item rather than a depreciated value.
Connect home coverage with auto and budget
The right coverage level also depends on the rest of your protection stack and how the premium fits inside your budget.