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Rental property insurance & landlord insurance quotes

In the market for income property insurance? Compare landlord insurance quotes with us for free – your best rate is less than five minutes away.

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  3. Save money

    Choose your quote and secure your landlord insurance rate online.


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What is landlord insurance?

Matt Hands

Do you own an investment property? And do you consider yourself a landlord? If so, there's a special type of home insurance you need to purchase. It doesn't just protect your home from liability and damages; it can also protect your stream of rental income.

Rental income property insurance (also known as landlord insurance) is designed for these types of homes. Being a landlord comes with a lot of risks, and while it's supposed to make you some extra cash, that's not always the case. So be sure to protect yourself financially ahead of time with the right coverage on hand. 

Common types of landlord insurance

Rental income property insurance is similar to traditional home insurance in many respects. Most policies include the following types of coverages.

Property coverage

Landlord belongings

Liability coverage

Loss of rental income

Popular landlord insurance add-ons

For a more complete policy, you can also extend your coverage with add-ons. That way, your rental income property insurance can be more catered towards your needs.

Flood insurance

Earthquake insurance

Extended contents insurance

Airbnb coverage

Non-payment of rent

How much does landlord insurance cost?

The cost of landlord insurance can differ greatly, depending on the type of property you're invested in. For example, insuring a house may cost you $900 per year while a condo can cost you $400. Rates will also change for owner-occupied and commercial properties.

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What doesn't landlord insurance cover?

Much like a conventional home insurance policy, there are a number of situations in which you won't be able to make a claim. These can include the following:

  • General wear and tear
  • Tenant belongings (they'll need renters insurance)
  • Damaged caused by insects, termites, and rodents
  • Intentional tenant damage and tenant theft
  • Buildings under construction (you'll need builder's risk insurance)
  • Earthquakes and landslides (unless you have added coverage)

How to get cheap rental property insurance

  1. Bundle insurance policies

    Grouping your primary home's policy (or even your auto policy) with your landlord insurance under one provider often comes with great savings.

  2. Increase your deductible

    If you can afford paying a larger chunk of money out-of-pocket, increasing your deductible is one way to ensure you'll be paying a lower bill each month.

  3. Double-check your coverage

    Do you really need earthquake coverage if you're in a low-risk area? Look at your situation and consider what risks you're willing (or not willing) to take.

  1. Maintain your property

    Updating your rental home (e.g. roofing, plumbing, HVAC) can help lower your policy's rate. Insurers like to see low-risk properties.

  2. Avoid minor claims

    Having a messy claims history can raise your landlord insurance rate substantially. That's why, it's often a good idea to pay small expenses out-of-pocket. It can save you in the long run.

  3. Compare your options

    Settling with the first insurer you come across probably won't get your the best rate – instead, take some time to research and shop the market with us today.

Looking for Airbnb insurance instead?

Long-term rental property insurance isn't the same as Airbnb insurance – short-term rentals often require its own specialized policy. Click the link below to learn more.

Frequently asked questions

Is it worth getting landlord insurance?

Does landlord insurance cover tenant belongings?

Does landlord insurance cover vacancy?

Do landlords have to have insurance?

As a landlord, should I require renters insurance?

Is landlord insurance the same as home insurance?

Does landlord insurance cover tenant damage?

Matt Hands, Business Director of Insurance

With 6+ years of experience at, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read full bio

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