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Old 02-05-2012, 04:15 PM   #1
First One is Always Free
Join Date: May 2012
Default Tenant's Insurance

Hello all,

First off, I've been lurking around these forums for the last few months as I'll be relocating to Edmonton within the next few weeks. I have to say that the information I've garnered from these forums has been amazing. For that, thank you so much!

Now, I'm going to be moving into an apartment complex in the Oliver / downtown area, and I've been told that I need to have tenant's insurance before I do so. I am wondering if any one has any experience / recommendations for tenant's insurance in Edmonton? The rental group recommended that I just go with my bank, but I have a feeling that other insurance companies may offer better policies or premiums.

Any advice would be much appreciated. Thanks!
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Old 02-05-2012, 04:52 PM   #2
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Join Date: Apr 2007
Location: Edmonton

If you have a car, talk to your car insurance provider. In many cases, the tenants insurance ends up being free since you get a discount off your car insurance for having multiple policies. The discount ends up covering most of the cost of the additional tenants insurance.

If not and you are a U of A grad or professional engineer (some other professions as well), Meloche Monnex has unbeatable rates.
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Old 02-05-2012, 05:04 PM   #3
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Join Date: Feb 2012
Location: Edmonton

Welcome to Edmonton!

In my experience (from six years ago now) it's similar to home insurance. You get a very small discount if you bundle it with your auto insurance, so get a quote from your auto insurer first. Then call a couple of companies, and one broker to get competing rates. The "bank" is a choice (I'm insured w/ RBC currently and am mostly satisfied) but not the only one. You can also use Kanetix.Ca to get quotes - choose home insurance and then select "Tenant" on the next page. They want your e-mail, but other than a single "reminder" e-mail they haven't spammed me.

Good news - it's pretty cheap. Don't insure the stove, the fridge, the walls - those are your landlord's problem. Just insure everything you bring into the apartment: clothes, computer, sofa, bike, vacuum. Figure out what it would cost you to buy all new stuff, and insure for that amount. For maybe a $200 a year, I wouldn't worry if you don't get the very best deal and end up paying $225 instead.

And from what I'm told from an adjuster, insurance companies are pretty good when dealing with tenant claims. It's cheaper to pay out for the relatively small amount than to nickel and dime you.
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Old 02-05-2012, 05:53 PM   #4
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Join Date: Jan 2012
Location: Grandin 2014--, Garneau 2012-2014, North Downtown 2006-2012

I just went through this to rent my next apartment. I go through RBC insurance because I already bank through them and already had a tenant pack. But I had to have a certificate of insurance faxed to my new landlord before they would issue me a key. Personally, I think this is a great policy though it was a pain.

All this requires is letting them know where you are going to live. You will also probably be required to answer a series of questions (like nearest fire hydrant and fire station, type of heating, etc.). If you have one of those landlords that requires insurance, they will probably have a fact sheet. I got blind sided with questions about which businesses are in my new building which I only approximately knew. Anyway, make sure you have your landlord's fax number ready because you are going to ask for a certificate to be faxed there. They expect this request and do it right after they hang up the phone.

BTW, my packages goes for something like $160 per year and covers more than I actually own but also includes a living allowance if I wind up being displaced The landlord also wants to know you have liability insurance ($1,000,000 is included in mine). Having known someone who got sued because she was accused of having accidentally started a fire, I like the peace of mind this provides.

I second the advice to go with the same folk who hold your car insurance if you can, or your bank.

Good luck,


Last edited by EveB; 02-05-2012 at 05:56 PM..
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Old 03-05-2012, 08:46 AM   #5
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Join Date: Feb 2009
Location: Edmonton, AB

Try AMA too--they have good deals and I only ended up paying $200 or so per year.
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Old 04-05-2012, 12:06 AM   #6
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Join Date: Mar 2012
Location: Edmonton

If you have auto insurance, definitely look to the same company since virtually all have multi-policy discounts. When I was renting, I had both my auto and tenant insurance from TD, and with the discount on the car insurance, it meant my net tenant insurance was only about $5 a month.

As some have also mentioned, (assuming it applies) your work, school, or professional / trade organization may also get you a discount with a certain company.
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