Canadian Underwriter

Nearly half of Canadian renters don’t have tenant insurance: Kanetix survey

April 6, 2018   by Staff

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house-01Renters living in as many as two million Canadian households do not have a tenant insurance policy, according to a recent survey.

According to the 2016 Census, approximately 4.5 million of Canada’s 14 million households are rented by tenants. Kanetix surveyed 1,000 Canadians who are renters and found that nearly half—48.5% to be exact—have not purchased tenant insurance.

Related: Kanetix implementing AI across all its platforms

The overwhelming reason given for not having a tenant policy was the cost (47.8%), followed by the feeling that they had little to insure (24.3%).

Others believed they were included under their landlord’s policy (17.3%) or under their roommate’s coverage (10.5%).

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This story was originally published by Canadian Insurance Top Broker.