What type of insurance do I need in Ontario?
In Ontario, at the very minimum you must have these four types of insurance coverage in place. 1- Third party liability: This coverage protects you in the event that another person is injured or killed, or if there is damage to another’s property.
How much third-party liability insurance do I need in Ontario?
In the province, $200,000 in third-party liability coverage is mandatory. Below is a summary of minimum coverages required by the Ontario government. Please refer to the list of sources for more details. This information is for educational purposes only. We recommend you consult a qualified insurance professional for further assistance.
Do I need tenant insurance in Ontario?
In Ontario, home, condo and tenant insurance are not mandatory by law. However, most banks and mortgage lenders require home buyers to show proof of home insurance before advancing the mortgage. Landlords may require tenants to show proof of tenant insurance before allowing tenants to move in.