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Today: 17.01.2018 - 21:42:37
   Canada Mortgage Hub Discussion Board -> Mortgage Toronto -> Is home insurance in toronto apartment mandatory in Toronto, Canada?
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nonconcludency11422

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Is home insurance in toronto apartment mandatory in Toronto, Canada?
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Post # 1.

ntq235

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who are you to tell god to bless us?
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Post # 2.

panic28

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its called apartment insurance, and it isnt required
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nmx775

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It's not required by law, but most landlords will require it as a condition of renting. Landlords CAN require you to buy it.
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pwinwa

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Your insurance company is bugging you?Yes, if you own a place and have a mortgage you need insurance.You did not make it clear if you owned a place or if you were renting.If you are renting, you can get renter's insurance (not mandatory) unless a landlord requires it on the contract.
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psarns

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If you're renting, then no - renters insurance is not mandatory. If it's a condo you own, legally there's no laws requiring you to have home insurance HOWEVER your mortgage company will undoubtedly make it a condition of your mortgage> The same is true for life insurance - not legally required however it is a condition of every mortgage. Talk to your mortgage lender. Honestly it's likely very cheap in either cases (I think I was spending $12/month for an apartment I was renting) so it's worth getting an estimate. One basement flooding or roof leak will make it all worthwhile.
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