The importance of tenant insurance in multifamily housing: Insights from Jeffrey McCann

At this year’s Canadian Apartment Investment Conference, we spoke with Jeffrey McCann, Founder and CEO of APOLLO Insurance, about the growing importance of tenant insurance in Canada’s multifamily housing market. As insurance costs rise and risk management becomes more complex, McCann shared practical insights on how landlords and property owners can better protect both their assets and their residents.

McCann emphasized that simplicity and accessibility are key when it comes to implementing tenant insurance programs. For landlords, an easy-to-use, technology-driven system not only streamlines adoption for tenants but also makes administration more efficient for property management teams.

A major takeaway from the discussion was the persistent misconception among renters that tenant insurance is unnecessary if they “don’t have much to lose.” McCann highlighted that the real issue isn’t just about personal belongings — it’s about liability. A small accident, such as a kitchen fire or water damage, can lead to significant financial consequences. For landlords, requiring proof of tenant insurance in leases is a vital first step in mitigating these risks.

He also noted that comprehensive tenant insurance programs can contribute to broader risk management strategies. With building insurance premiums rising nationwide, ensuring all tenants are properly insured can help landlords reduce claims on their own policies and even lower overall portfolio costs.