Canada (ON) insurance when I don't have a principal residence

2 Replies

I'm looking at purchasing my first investment property, a duplex. However, I still live at home with my parents. Every insurance company I call says they do not insure standalone rental properties and I must have principal residence insurance first.

Located in Ontario, Canada.

Can anybody provide some insight in what I should do? Has anybody fallen in the same issue and what did you do?

Thanks!

@Jack Barei

I had two rental properties with standalone insurance for years and they are both at Statefarm (now Desjardins) but I had many quotes from other companies and a friend who also had standalone with Cooperators. All the best in your search and congrats on your move to buying a duplex!