Tenant Insurance in Alberta

At Alberta BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home with additional interest home insurance, car, business, recreational items, or pets, let us help you find the best coverage possible. So, if you're looking for tips for first-time renters or need help navigating the world of renters insurance before purchasing your own tenant insurance policy, keep reading!

Standard tenant insurance coverages

Rental insurance can be a daunting experience, but with the help of the team at BrokerLink in Alberta, we’ve put together a comprehensive tenant insurance guide that will help you better understand the ins and outs of these policies. As such, take a look through some of the standard tenant insurance below for more information:

Personal property

Also known as contents insurance for renters, personal property coverage protects items such as clothing, electronic devices, and household items. Whether your possessions are on the property or briefly removed, such as during your commute to your job or while travelling abroad, tenant insurance protects them from possible harm or loss. So, wherever the day takes you, you can have peace of mind knowing that your possessions are thoroughly covered.

Tenant liability coverage

By obtaining tenant liability insurance, you can protect yourself and your household from potential lawsuits with personal liability coverage. This insurance provides sufficient coverage to protect you and the people in your home from potential liabilities, whether someone is injured while visiting your premises or if accidental damage occurs. You can rest assured knowing that you have money available to address legal claims along with any related expenses if you have tenant liability insurance.

Additional living expenses coverage

Tenant insurance provides coverage during the repair process if an unforeseen event renders your rented home uninhabitable. Whether you choose to stay in a hotel or at one of your friends or family’s homes, your insurance policy will cover the costs. In such cases, you will be provided with the funds necessary to cover your daily living costs, allowing you to maintain a comfortable lifestyle while your rented home is being fixed up. Ultimately, this feature of tenant insurance provides versatility and support, giving you the reassurance that you will not face additional financial strain during a difficult time.

Unit improvements

Unit improvement insurance protects tenants who make upgrades or improvements to their rental units. It is intended to cover the cost of any enhancements or changes made by the tenant to increase the value or function of the unit. This could include built-in cabinets, upgraded fixtures, or other improvements. The unit improvements policy assists in protecting the tenant's investment in improving the rental unit in the event of harm or theft.

Policies not included in renters’ insurance coverage

Given the unique circumstances of each tenant and rental property, the insurance provider you choose may provide additional insurance policies to supplement your current tenant's insurance. As a result, let's look at some endorsements that you might want to consider in the future:

Sewer backup

Sewer backup coverage, like flood insurance, protects you in the event of sewage backup from primary drains throughout your neighbourhood. Because of Alberta's high risk of flooding throughout the province, water damage and sewer backup are more inclined to occur during heavy rainstorms. As a result, if the rental unit lacks a sump pump or has old-fashioned plumbing, including sewer backup insurance in your tenant insurance can provide you with peace of mind and prevent future financial burdens associated with expensive maintenance, repairs, and replacements.

Flood water

Flooding from rivers and lakes, as well as excessive precipitation and other water sources, may bring about significant property damage. Flood insurance provides specialized coverage to protect against such perils. Its goal is to provide financial assistance to individuals whose properties in Alberta have been flooded. Given the vulnerability of particular regions in Alberta to excessive rainwater and the ensuing water backup in basement homes, flood insurance is highly recommended in order to safeguard your financial assets and provide the support you need in the event of a flood should you need to repair or replace your personal items that were damaged.

Reasons you need tenant insurance

If you’re still on the fence about whether it is worth the investment or not, here are some reasons you need tenant insurance moving forward:

It protects your personal belongings

You work hard for your belongings, which is why in the event of a fire, water damage, theft, or vandalism, your items are at risk of damage. However, with tenant insurance, you can have peace of mind knowing that you will not be responsible for the repair or replacement cost.


Believe it or not, tenant insurance is incredibly affordable. Premiums can begin as low as $20 per month. Therefore, the cost is minimal when compared to the cost of replacing everything you own on your own or paying a liability lawsuit.

Financial protection

Although you might undervalue the value of your belongings or regard them as usual, consider the potential costs of replacing them all at once without insurance. Even the simple task of acquiring your clothes, furnishings, electronic devices, and various other expensive belongings can quickly add up to a significant price tag.

Insurance history

By having a tenant insurance policy, you can begin to start to maintain insurance history, maintaining an insurance policy can unlock cheaper rates for property later on down the road. You can begin to form a relationship with your insurer as some insurers offer discounts for long term clients.

What are the responsibilities of a landlord vs. a tenant?

If you're a first-time renter or landlord, it can be challenging figuring out who is responsible for what in a shared property. So, to make things easier, let's break down the tenant and landlord responsibilities as follows:

Responsibilities of the tenant

  • Ensuring prompt and full payment of rent.
  • Taking measures to prevent any harm or damage to the rental property.
  • Taking responsibility for repairing any damages caused by the tenant or their guests.
  • Adhering to the rules outlined in the rental agreement.
  • Refraining from engaging in any illegal activities on the premises.
  • Communicating with the landlord immediately regarding any significant issues or repair needs.

Responsibilities of the landlord

  • Taking care of shared spaces like the driveway and ensuring they remain well-maintained.
  • Ensuring that the rental property meets health, safety, and maintenance standards, providing a pest-free and habitable environment.
  • Respecting the tenant's privacy and only entering their premises when necessary to fulfilling landlord responsibilities while giving a 24-hour notice beforehand.
  • Guaranteeing access to essential services such as heat, water, and electricity to ensure a comfortable living space.

Market value vs. replacement cost

There's no denying that insurance jargon can be difficult to understand a lot of the time, which is why the team at BrokerLink is here to help. Let's look at the differences between market value and replacement cost, as knowing this distinction is critical in how it affects your insurance coverage:

Market value

In the context of personal items, market value refers to an item's estimated worth based on its present value in the marketplace. It reflects the price that a buyer would be willing to spend for the item in its present state, taking into account factors such as age, condition, supply and demand, and comparable prices. Market value considers the item's depreciation as well as the present state of the market. In the context of insurance, determining the value of personal belongings aids in deciding on suitable protection and potential repayment in the event of loss, damage, or theft.

As a result, if your insurance policy encompasses actual cost-value coverage for personal items, the sum that you receive will be established by the item's value, less depreciation. And as we mentioned, to calculate actual cash value, the market price is crucial in determining how much of a reimbursement you get.

Replacement cost

On the other hand, replacement cost refers to the amount it would cost to replace an item or belonging with a brand new one of equivalent kind and quality. It reflects the cost of replacing a damaged, destroyed, or stolen item with one that is comparable or nearly identical. Unlike the market value, replacement cost is not adjusted for depreciation or the age of the item. It is instead concerned with the cost of replacing the item at present prices on the market. Replacement cost insurance makes sure that you can replace your possessions with new ones rather than receiving reimbursement based on their depreciated value.

So, which one should you choose? Well, the decision between market value and replacement cost coverage for your own possessions is ultimately influenced by your unique circumstances and preferences. Here are some things to think about:

Your budget

Replacement cost coverage typically has a higher premium because it provides complete reimbursement for new items. If money is an issue, market value coverage may be less expensive because it accounts for depreciation.

The total value of your belongings

Consider the worth and condition of your possessions. Replacement cost coverage can provide more significant safeguards if you own items with a high value or belongings that depreciate significantly. Market value coverage may be sufficient for everyday things with somewhat predictable values.

Whether you prefer brand-new items

Replacement cost coverage guarantees that you can replace damaged or taken possessions with brand new ones if you like. Market value coverage may only pay you for the depreciated value, which may be insufficient to cover the cost of new things.

If you own collectable items

Market value coverage may be more appropriate if you own valuable antiques, exotic goods, or collectibles, as these items may have market values that are difficult to replace at the same price.

Ultimately, it is recommended that you assess your individual requirements, examine the terms of the policy you have, and consider discussing your options with an insurance broker from BrokerLink to determine which coverage type is best suited to your situation.

Where can I get a competitive insurance quote?

If you're thinking about getting tenant insurance in Alberta, we suggest going to the websites of insurance companies and requesting a free tenant insurance quote online. From the convenience of your own home, you can compare policies and receive accurate estimates. If you prefer a more personal touch, you can reach out to insurance agents or brokers in Alberta via in-person visits, phone calls, or email. Before making a decision, they can provide advice and answer any questions you may have and provide you the most affordable tenant insurance cost tailored to your needs.

We’re in your community

Getting involved in the community is a big part of who we are. We live and work in your community. Our Alberta insurance brokers love meeting their neighbours! Pop in for a quick hello anytime, or schedule an in-person meeting to go over your insurance policies for customized advice tailored to your needs!

Why work with a BrokerLink broker

Since 1991, the BrokerLink team has been dedicated to finding insurance policies that meet the needs and budgets of our customers. We are experts in all things Alberta insurance and can ensure you receive the most competitive rate on your policy.

Local Alberta insurance links

If you’re a member of a group or association, you may be eligible for more discounts.

Contact us

You can reach us by phone, email, or in person at any one of our locations throughout Alberta. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Tenant Insurance Alberta FAQs

Is tenant insurance mandatory in Alberta?

While a tenant insurance policy is not required by law in Alberta, it is common practice for landlords in the area to require it. Although there is nothing explicitly requiring it, many rental agreements in Alberta include a requirement that tenants keep tenant insurance, which, when considering the risks involved, benefits both parties. This coverage protects not only the landlord's property but also the tenant's private belongings and personal liability coverage. As such, if you're currently in the market for a new rental home, you need to thoroughly review your lease terms and engage in a conversation with your new landlord about insurance requirements before finalizing any contractual commitments to ensure compliance and that sufficient safeguards are in place.

How much is tenant insurance in Alberta?

Tenant insurance in Alberta is intended to protect your personal possessions within your rented unit. It provides valuable coverage at a reasonable price, typically ranging from $20 to $30 per month. While the monthly premium may appear low, tenant insurance can be highly beneficial in the case of a claim, which could save you thousands of dollars in replacement or repair costs later down the road. Ultimately, it gives you peace of mind knowing that your valuables are safe from unexpected events, making it a good choice for tenants looking for financial safety and security.

How does tenant insurance work in Alberta?

When you buy tenant insurance, you choose a coverage limit which reflects the most the insurance provider will pay out for any specified losses or damages. In the scenario of a covered event, you would file a tenant insurance claim with your insurance firm and provide documentation to support it. The insurance provider will assess the claim and, if approved, will compensate you in accordance with the coverage limit and deductibles specified in your policy. Remember that it's critical to read and comprehend the terms and conditions of your chosen policy to make sure you have adequate coverage for your specific requirements.

What does tenant insurance usually cover?

Renters' insurance covers a tenant's personal belongings from hazards such as fire, theft, vandalism, and damage caused by water. The policy can assist with the cost of replacement or repairs in the case that there is harm or a complete loss. Furthermore, tenant insurance covers personal liability, which protects the tenant and holds them accountable if someone is injured on the property. Moreover, it may cover additional living expenses, such as temporary accommodation, if the rented property becomes unlivable as a result of an incident covered by the policy.

Is landlord insurance the same as renters’ insurance?

No, landlord insurance is not the same as rent insurance. Landlord coverage typically includes comprehensive coverage for the physical structure of the property, including the structure, kitchen appliances, and furniture, and protects them against a variety of risks such as fire and smoke damage, severe storms, vandalism, or burglary. Furthermore, this insurance frequently includes landlord liability coverage. Therefore, if a tenant or a guest suffers an injury or property damage as a result of any negligence, it can help cover the cost of a lawyer, medical fees, and any settlement costs that may result from a lawsuit.

Is home insurance the same as landlord insurance?

Property insurance and landlord insurance are not the same thing. While both provide property insurance, home insurance is designed specifically for owner-occupied properties. Landlord insurance, on the other hand, is designed specifically for properties that are rented. Landlord insurance is different from standard home insurance policies in that it considers the specific dangers related to renting out a property to a third party. Therefore, if you plan on renting your property out to someone else and you currently only have Alberta home insurance, we suggest reaching out to an insurance specialist for assistance in purchasing a new policy.

As a renter, am I not covered under my landlord’s home insurance?

A common misconception is that Calgary home insurance, or any other home insurance for that matter, extends to renters. However, home insurance only protects the items and home when the owner is living on the property. If you are renting a home from a landlord, it is likely they have their own landlord's insurance policy to accommodate the risks of renting their property out to you. That said, this insurance also does not provide protection for your items or liabilities.

Can I bundle renters’ insurance with other types of insurance for discounts?

Absolutely! Many insurance companies allow you to combine renters' insurance with other types of policies, like auto or home coverage. In fact, bundling your policies can frequently result in discounts, which not only simplifies the process but may also save you money in the long run. As such, it's worthwhile to contact the insurance company to discuss bundling options and available discounts.

Does renters’ insurance cover theft outside of my rental property?

Yes, renters’ insurance usually covers theft that occurs outside of your rental property. If your private belongings are stolen while you are away from your rental home, such as while driving or travelling, your renter’s insurance policy may provide coverage. However, some guidelines may have limitations or need additional premiums to cover you beyond your rental property. So, we suggest that you consult with your insurance company to address any concerns or inquiries that you might have in order to make sure you have the proper coverage

Can I get renters insurance if I have a pet?

Absolutely! Owning a pet is not going to prevent you from getting tenant insurance coverage. In fact, having coverage is a good idea, even if you have a pet. While renters' insurance usually does not cover damage caused by pets, it does provide other valuable benefits. Just keep in mind that if you are moving into a new rental property and own a pet, you disclose it to your landlord, as the inclusion or exclusion of pets may be listed in your rental agreement.

What factors affect the cost of renters insurance?

The location of the rental property, the coverage limits and deductibles chosen, the tenant's claims history, the type and value of personal belongings, and any additional add-ons selected can all have an impact on the cost of tenant insurance coverage. As such, we suggest shopping around and getting a tenant insurance quote from each provider to ensure you get the most coverage for the best price.

If you have any questions, contact one of our local branches.