How much is renters insurance?
There is a heightened risk if you dont have your renters insurance, says Elliot Silverstein, the director of government relations at CAA Insurance. Your propertylike jewellery, electronicsis protected from fire, smoke, flooding, theft and so forth.  He adds that COVID has likely increased the value of your goods, like the new tech gear for your home office, and the special cooking appliances youve added to your foodie repertoire (how did you live without that air fryer!). Having these pandemic must-haves is another good reason to take inventory of your property and budget for a policy. Content value Apartment Condo House $15,000 $31/month $31/month $31/month $30,000 $35/month $35/month $35/month $40,000 $34-$37/month $34-$37/month $34-$37/month  Across Canada, renters insurance can range from $15 to $50 per month. But generally, Silverstein says, if you have a lot of possessions, youll be paying more.  Unlike with home insurance, when you have renters insurance, the type of building you live in doesnt matter. Because youre getting the contents insured, not the space itself. However, do ask about discounts if you live in a condo or apartment. For example: If you have a security guard or concierge in your condo or apartment building, it could save you some money. Its worth noting that many insurance providers require a minimum coverage, like $40,000. So it may be worth looking into providers who do not have a minimum coverage, should your belongings be worth less. Your postal code factors into the cost, too. These are all situations that cause your premium to inch up with insurance add-ons to increase the limits on prized collections. With a few clicks you can scroll rates online to get a picture of your cost. Then, typically, you will be directed to a broker who can help you negotiate the right coverage and find savings like bundling your renters insurance with your auto insurance. Associations you belong tosuch as your union, college, university or recreational clubcan sometimes bring more savings too. In general, you dont seek out insurance on a regular basis. It is a complex conversation and an insurance agent or broker can help you customize your policy, Silverstein adds. Note, even when you use an online quoter, you will be directed to an insurance broker to work on and finalize your insurance policy.