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Compare and purchase the best
tenant insurance rates in Northwest Territories.

Compare and purchase the best
tenant insurance
rates in Northwest Territories.

Get free & accurate quotes from Canada’s top tenant insurance providers.
In just a few minutes, our quoter can unlock discounts that can have
you saving hundreds of dollars a year on average.
Get free & accurate quotes from Canada’s top tenant insurance providers. In just a few minutes, our quoter can unlock discounts that can have you saving hundreds of dollars a year on average.
Type of Coverage We Provide
Liability Coverage
Liability Coverage
Provides protection against a lawsuit resulting from damaged property or personal injuries.
Deductible
Deductible
A predetermined amount of money that you must pay towards the cost of the claim. Home insurance has different deductibles for different coverage.
Claims Forgiveness
Claims Forgiveness
This allows for the protection of your “claims free discount” in the event of your first claim.
Scheduled Items
Scheduled Items
Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.
Comprehensive Insurance Coverage
Comprehensive Insurance Coverage
When you purchase comprehensive home coverage, it means you are covered for anything that is not excluded.
Replacement Cost
Replacement Cost
Actual cash value policies are based on the items' depreciated value while replacement cost coverage does not account for depreciation
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Northwest Territories tenant insurance rates vs. other provinces

Residents of the Northwest Territories pay relatively modest premiums, compared to the rest of Canada. Start a free quote with us now to see if you could save more!

Province

Average Rates

Northwest Territories

$416

Alberta

  $466

British Columbia 

$397

Manitoba  

$503

New Brunswick

$500

Newfoundland & Labrador 

 $399

Nova Scotia  

$423

Nunavut 

$402

Ontario

  $478

Prince Edward Island  

$385

Saskatchewan  

$410

See how our customers save big on tenant insurance

At Surex, we’re dedicated to helping you find the right insurance for the best price. We do all the heavy lifting for you, so you can be sure you’re getting the lowest possible rate. Check out how we’ve helped these NWT renters save on tenant insurance.

Customer

City

Type

Average Quote

Purchased Quote 

Savings

Julie

Yellowknife

Tenant

$788.00

$517.00

$270.00

Joey

Colville Lake

Tenant

$1,424.00

$830.00

$594.00

Delaney

Fort Smith

Tenant

$544.00

$253.00

$290.00

Tenant Insurance in Northwest Territories

Tenant insurance in Northwest Territories (also called renters’ insurance) is meant for people who rent the place where they live, whether home, condo, or apartment. It provides coverage against common risks like theft, fire damage, and personal injury that occurs on the property.

Insurance is necessary because a landlord’s home insurance policy won’t cover these perils on behalf of the renter. You want to be covered in case something happens to your home or your belongings.

Tenant insurance is not mandatory at the provincial level, however many property managers won’t lease their units without tenant insurance coverage in place. Renters in Northwest Territories can expect that getting a personal insurance policy quote is a part of renting.

Even if your landlord doesn't make tenant insurance a requirement of the lease, it's still a great idea to purchase it. Here are a few reasons:


Peace of Mind
Tenant insurance offers incredible peace of mind. If you've ever experienced loss or damage of your personal belongings, you likely know how welcome this peace of mind can be.
Without tenant insurance, you'd be entirely on your own as far as repairing or replacing damaged items, which can make an already stressful situation even worse.
You'll find this peace of mind especially helpful if an incident ever leaves your dwelling uninhabitable. As you look for an alternative housing arrangement, renter's insurance will cover the cost of temporary accommodations. Given that hotels and most other short-term arrangements aren't cheap, this can be a massive help.


Affordability
Tenant insurance in British Columbia provides incredible peace of mind for relatively little money. Rates dip as low as $15 per month, which is less than you'd spend on parking for a couple of hours in some parts of Vancouver!
In other words, it's a very small price to pay in exchange for knowing your personal property is protected.


Receive Coverage Out of Your Home, Too
Renter's insurance also typically includes coverage for certain items even when you're outside of your home. Depending on the policy, this may include electronics, bicycles, and other items. Renter's insurance is often much cheaper than dedicated insurance for those particular items.
Keep in mind this coverage typically won't extend to more expensive items like jewelry, which you'd want to insure separately.


Benefit from Legal Liability Insurance Coverage
Even if you don't own anything you're financially incapable of replacing, tenant's insurance offers something very valuable: liability coverage.
If a guest injures themselves at your property and attempts to hold you liable, for example, tenant insurance may shield you from the financial burden.
This is especially important if you frequently have guests over or if you have pets capable of harming someone visiting your home.
 

The following things are generally covered by the best tenant insurance the Northwest Territories:

  1. Contents

If your belongings are damaged or stolen while in your rental property, tenant's insurance in NWT will help cover the cost of replacement or repair.  

This is among the most important aspects of tenant's insurance since most people don’t have the money to replace thousands of dollars in lost items out-of-pocket.

  1. Liability

If an accident on your property causes financial harm to a third party, tenant’s insurance with personal liability coverage can help cover lawsuit and settlement costs. 

For example, if a guest slips, falls, and injures themselves on a wet floor in an apartment you’re renting, your insurance policy will shield you from the financial fallout of a potential lawsuit.

  1. Relocation cost reimbursement

If the property you’re renting is rendered uninhabitable, tenant insurance will help shoulder the costs of relocating, and your living expenses.

For example, if you’re forced to stay at a hotel for a few weeks because your rental apartment flooded, tenant insurance may help with your hotel bill along with the cost of purchasing meals and other living expenses.

Tenant insurance in the Northwest Territories typically won’t cover replacement costs above a certain amount for extraordinarily expensive items (i.e. jewelry). To make sure you’re covered for the items that matter most to you, it’s important that you read the policy thoroughly. The best insurance broker can help you find the exact policy you need.

This depends on where you reside, the value of your total contents, and your liability limits. Policies normally start at $300/yr or around $20 to $50 /month and increase as the content values and liability limits increase.

Since there’s no minimum coverage requirement, you can achieve lower rates by purchasing only the coverage you need. Think about your personal belongings and get the policy and the coverage you need.

The cheapest tenant insurance provider depends on how your situation fits into the formula companies create to evaluate policyholders. For example, some insurance companies might weigh your age more heavily than others. This is why it’s a good idea to compare insurance companies with Surex. The cheapest online insurance provider isn’t always evident.

Yes, tenant insurance and renter’s insurance are the same. They are policies purchased by a renter to protect themselves financially.

The law does permit landlords to include an insurance policy as a lease requirement. Many landlords do so as a tenant’s policy serves to reduce their overall risk.

You’ll need to provide basic information about yourself and the property you’re renting if you want to get insurance online over over the phone, including:

  • The address
  • The cumulative value of your personal property
  • Who else will be occupying the rental property (you want to make sure that all renters are covered under their own policies.
How It works
How It works

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Why Surex?
Why Surex?

Surex makes it easy to compare, purchase, and save up to 25% on your insurance needs. We shop the market for you, finding the best rate for the coverage you need.

Advisors
Advisors

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