Buy better tenant insurance in London for less
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Cost of tenant insurance in London per month – $27
The average cost of tenant insurance in London among YouSet users is $27 per month. While this figure should give you a better sense of what you might expect to pay for tenant insurance monthly in the province, remember that premiums are calculated using a variety of factors, including the location and features of your rental unit, the value of your personal belongings, and your insurance history. As a result, your premium might end up being higher or lower than the average.
Cost of tenant insurance in London per year – $324
In London, the average cost of tenant insurance among YouSet users is $324 per year. It’s important to note that this figure reflects the price of comprehensive tenant insurance, which provides more extensive coverage at a slightly higher price point compared to basic policies.
London tenant insurance pricing trend
Prices across the insurance industry, including tenant insurance, have increased in recent years, in part due to factors such as inflation, rising repair costs, and changes in risk assessment. The table below clearly shows how the price of tenant insurance in London has fluctuated over time.
| Year | Cost per year |
| 2024 | $324 |
| 2023 | $299 |
| 2022 | $346 |
How much contents insurance renters get in London
The amount of contents insurance, also known as personal belongings coverage, you opt for will depend on what belongings you own, how many belongings you own, how much they’re worth, and how much you want to spend on tenant insurance. Based on YouSet data though, half of renters (71%) in London get $25,000 to $30,000 in contents insurance coverage.
| Content insurance coverage amount | % of renters |
| $20,000 – 25,000 | 24% |
| $25,000 – 30,000 | 71% |
| $30,000 – 35,000 | 5% |
| $35,000 – 50,000 | 0% |
| $50,000 – 70,000 | 0% |
| $75,000+ | 0% |
Average tenant liability insurance limit in London
The amount of tenant liability insurance you opt for will depend on your personal circumstances, risk preferences, building size, and landlord’s requirements. Based on YouSet data though, the majority (82%) of renters in London get $1,000,000 in tenant liability insurance coverage.
| Liability insurance coverage amount | % of renters |
| $1,000,000 | 82% |
| $2,000,000 | 18% |
Insurance calculator for renters
Want an estimate? Our tenant insurance calculator is a quick, easy, and anonymous way to get a sense of what other renters in your area typically pay for tenant insurance. This is important information to have on hand before committing to a policy, as it can be used to weigh your options and ultimately, make an informed decision regarding your insurance needs and budget as a renter in Canada.
How to get cheap tenant insurance in London
Want to pay less for tenant insurance without sacrificing coverage and peace of mind? If so, here are five tips to help you find cheap tenant insurance in London.
Compare quotes
You’ll never know you’re overpaying for tenant insurance unless you compare quotes. Fortunately, the YouSet platform can save you the trouble of doing so manually by automatically comparing prices from multiple insurers in minutes. On average, this saves users up to 29%!
Bundle your policies
If you have car insurance, bundling your insurance policies is a great way to get cheaper tenant insurance. In fact, doing so with YouSet can save you up to 15% more.
Choose a deductible you can afford
A higher deductible – what you pay out-of-pocket for a claim – is a well-known way to get cheaper tenant insurance. Just be sure you can actually afford it if there comes a day when you need to file a claim.
Avoid making claims
Insurance companies love low-risk clients, so the longer you go without filing a claim, the more likely you are to receive discounts that lower your premium. Therefore, only file a claim if it’s really necessary.
Pay annually
If you can manage it, ask to pay your premium for the year upfront. This not only can result in discounts but also saves you from paying the 2-4% interest typically incurred with monthly payments.
London tenant insurance from $12/month
As a digital broker, YouSet is uniquely positioned to help renters, just like you, save money on tenant insurance in Ontario. Through partnerships with some of Ontario’s most recognizable insurers and our proprietary technology, we’re able to secure you the most competitive rates and apply exclusive discounts for you, resulting in savings of up to 29%.
Do I need tenant insurance in London?
While it is not legally mandatory for renters to have tenant insurance in London, many landlords and property management companies will require it as part of their standard lease agreements.
How much is tenant insurance in London, Ontario?
The average cost of tenant insurance in London among YouSet users is $324 per year and $27 per month. However, policies can cost as little as $12 per month.
How much contents insurance do you need in London?
When determining how much contents insurance you need, consider the value of your personal belongings. Most renters in London typically opt for coverage between $20,000 and $30,000. In fact, 95% of YouSet users choose an amount within this range.
Making it easier to buy tenant insurance online since 2017
Since 2017, YouSet has been making it easier for Canadians to buy tenant insurance online. Why spend hours manually comparing quotes when our proprietary technology can do it all for you in less than 4 minutes? Not only that, but we’ll also have Canada’s top insurance providers competing for your business, ensuring you get the lowest-priced offers. With over 250,000 users and an average rating of 4.9 stars on Google and Facebook, YouSet is a trusted way to get the coverage you need for less.