Landlord Insurance

Protect your investment.

If you own rental property — be it condos, an apartment unit, or a house — you need landlord insurance, also called rental property insurance, to protect your investment.

What's Covered

Landlord insurance is designed specifically for people who own property that they rent or lease out to others. A standard landlord insurance policy provides coverage for:

Protects the physical building you rent out, including its foundation, walls, roof, and other attached structures like decks or carports. It covers damage caused by common issues such as fire, windstorms, lightning, and vandalism.

This policy extends coverage to buildings on the property that are not physically attached to the main rental structure, including detached garages, sheds, gazebos, or other storage spaces.

Coverage for personal property that you as the landlord own and provide for the rental unit or common areas. This typically includes items like laundry machines, refrigerators, stoves, carpets, blinds, and communal furniture in shared spaces.

Protection against legal and financial repercussions if you’re found responsible for accidental property damage or physical injury that occurs on your property. For example, if a tenant's guest slips and falls, or if a structural issue you're responsible for causes damage to another property, this coverage can help with legal defense costs, medical expenses, repair costs, and settlement awards.

Optional Coverage

Standard insurance policies cover the most common risks. Optional insurance endorsements can enhance your coverage, depending on your specific needs.

Earthquake endorsement

Most standard landlord insurance policies exclude damage caused by earthquakes. Earthquake endorsement provides crucial coverage for your home's structure, your outbuildings (like your detached garage or garden shed), and your personal belongings in the event of an earthquake, protecting you from potentially catastrophic losses.

Sewer back-up endorsement

This protects your investment from damage caused by the accidental or sudden escape of water from a sewer, drain, sump pump, or septic system. Standard policies often exclude this damage.

Overland water endorsement

This endorsement provides coverage for damage resulting from water sources outside the home, such as rain, overflowing rivers, spring run-off, or melting snow. Standard policies typically exclude these risks.

Loss of rental income

If your rental property becomes uninhabitable due to a covered loss (like a fire or major storm), this endorsement can help replace the lost rental income while repairs are being made. This ensures you're not out of pocket during the rebuilding period.

Green endorsement

Covers repairs up to $10,000 using environmentally friendly products of your choice after an insured loss.

Bylaw coverage

Covers additional demo, construction, or repair costs necessary to comply with current bylaw standards after your home has been damaged in an insured event.

Economical offers a range of policy options for your unique needs and budget.

Talk to a broker about your options