I seldom agree with the IBC (Insurance Bureau of Canada). Today it wrote a blog suggesting that all students heading out to university or college buy tenant's insurance. I agree. Do it.
Not because the coverage will pay for your stuff if it burns up in a housefire or if it gets stolen - it will. Do it because most tenant's packages contain liability coverage. If someone gets hurt due to a moment's inattention or gaffe, your tenant's coverage will help that person get the care and help she needs. If you get sued, the coverage will protect you from the lawsuit and the heavy financial burden it might impose.
Listen to IBC. Get the coverage. Then we can get back to ignoring IBC again.