Most Canadian landlords now require it. Protects your stuff, your liability, and your additional living expenses if your unit becomes unlivable. Estimated premiums in 60 seconds.
Your stuff: clothes, electronics, furniture. Replaced if stolen, fire, water damage. Typical $30K-$60K coverage is enough for most renters.
If you accidentally cause damage to the unit OR injure a visitor. $1M-$2M standard. Lawyers + settlements get expensive fast without it.
If your unit becomes unlivable (fire, flood), the insurer pays hotel + meals while you find a new place. Often the most under-appreciated benefit.