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What our users say:

April 22
Your agent Nathan was amazing and so…
Your agent Nathan was amazing and so helpful.
Alecia O'Brien
April 20
They took some basic information and…
They took some basic information and had me connected to a broker within minutes...
Jennifer Maybue
April 19
Prompt response
Prompt response. Good info to make a decision. Helpfull that info was sent to ...
Margaret Bird
April 19
Sean was easy to talk too and very…
Sean was easy to talk too and very informative.
Angela
April 19
Good job
The staff was helpful and knew what were doing.
Franziska Pedersen
April 18
Francesco he is a very helpful…
Francesco he is a very helpful gentleman, and I’m happy with the discounts tha...
ANTONIO NUNES
April 18
I was connected with Ryan
I was connected with Ryan, who was patient in listening to my car insurance frus...
Betty Weintraub
April 17
Good pricing
Pleasant broker and helpful
Phyllis
April 17
filled out form online less than 5mins…
filled out form online less than 5mins called right away and setup call with bro...
ct
April 16
The Agent was very kind and helpful!
The Agent was very kind and helpful!
Istvan Kiraly
April 16
Great customer care she is good 👍
Great customer care she is good 👍
Anthony Odia
April 15
Simple and clear!!
Fast response ! Friendly knowledgeable staff!
Kent Fewer
April 15
great rep provided all the information…
great rep provided all the information I needed to make an informed choice
KAREN FOBERT
April 12
After I got the quotes somebody…
After I got the quotes somebody followed up with me and put me trough with an ag...
Stefan Ciucas
April 12
fast responce
fast responce, great people to talk to explaining everything, What a Great web s...
Larry Rowthorn
April 9
Very helpful advice and great overall…
Very helpful advice and great overall service.
mark
April 6
Easy to deal with and very helpful
Very easy, good use of technology and customer follow up was awesome
Steve Miller
April 6
Easy and friendly process.
Easy and friendly process.
shr
April 5
So good service ,,
So good service ,,, Tammy service me so so good
Son Nguyen

Home insurance in Canada

Congratulations. You either own a home or are in the market to purchase one. It will likely be the most expensive asset you own. That’s why you’ll want to protect it, and the contents within it, with the right home insurance coverage.

Home insurance in Canada is not mandatory. But it will save you tens of thousands of dollars, and more, should your home or possessions end up damaged or lost due to a natural disaster, theft or some other peril. Furthermore, most mortgage lenders require home buyers to have home insurance to protect their investment. So, unless you can afford a home without taking out a mortgage, you’ll probably need insurance.

Home insurance may cover:

Home insurance is regulated at the provincial level by Superintendents of Insurance, who license insurance companies, oversee insurance products and market conduct (underwriting, rating, claims, and marketing practices) and monitor solvency and financial soundness of the companies incorporated in their province.

You can learn about each provincial regulator from the Insurance Bureau of Canada (IBC).

Different types of home insurance coverage

People interested in home insurance have a variety of choices and ways to protect their homes. There are four types of coverage to choose from, including:

What most policies cover

Those seeking home insurance should also consider the specifics within each type of policy. They might want to include:

Common optional coverages

There are several optional coverages, or ‘endorsements,’ that can be added to home insurance policies.

Get the best home insurance quotes by comparing the market.

Your home might be the biggest purchase you’ll ever make. Protect it with a great home insurance policy. LowestRates.ca will bring you the cheapest house insurance quotes from all the top providers in your area.

Compare home insurance quotes from 50+ of Canada's leading insurance providers in just 3 minutes.

Outline of a house. Illustration.

See how our customers save big on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from April 21, 2024
Type of home
Detached 2,739 sq ft
Location
Edmonton, AB
Previous claims
None
Lowest Rate
$84/mth
$1,008/yr
Average rate
$176/mth
$2,112/yr
Saved
$92/mth
$1,104/yr (52.00%)
Quote from April 21, 2024
Type of home
Detached 2,068 sq ft
Location
Milton, ON
Previous claims
None
Lowest Rate
$105/mth
$1,260/yr
Average rate
$200/mth
$2,400/yr
Saved
$95/mth
$1,140/yr (47.00%)
Quote from April 21, 2024
Type of home
Detached 2,600 sq ft
Location
Limoges, ON
Previous claims
None
Lowest Rate
$232/mth
$2,784/yr
Average rate
$326/mth
$3,912/yr
Saved
$94/mth
$1,128/yr (29.00%)
Home insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, Square One Insurance, and Wawanesa Insurance.

How to get a home insurance quote on LowestRates.ca.

Here’s how to get a home insurance quote on LowestRates.ca in 4 easy steps.

 

Select type of property

Scroll to the top of any home insurance page on our site. Select which type of property insurance you’d like to purchase and enter your postal code. Click “Get Started.”

 

Tell us about yourself

Next, you’ll be asked to enter a bit of information about yourself and the other occupants of the home. Tell us when you’d like your new policy to start and the date you moved into the property. We’ll automatically calculate your home’s square footage, age, distance from a fire station, and more. Leave the details to us.

 

Tell us about your home

In order to be eligible for discounts, you’ll need to answer several questions. Be prepared to answer whether you’d like to bundle your home and auto insurance policies with your new insurance company. For the best possible experience, make sure you know whether your property has a monitored fire alarm, deadbolt locks, fire extinguishers (and how many there are), a monitored burglar alarm, and/or a sprinkler system.

 

Get your quotes

Get ready to see your quotes. You’ll be directed to your quote results page, which ranks quotes from lowest to highest. Your cheapest quote will be displayed first, along with the contact information of the broker or agent who can help you lock your new rate. You’ll also be able to see what 50+ other insurance companies are willing to offer you. Just like that.

Get Started

Why you’ll love using LowestRates.ca to find cheap home insurance quotes.

By entering a few details about your home, you can compare the quotes from the best home insurance providers in your area. That’s all it takes to save hundreds of dollars per year on your home insurance policy — just like that.

Tips on how to get the cheapest home insurance.

There are many ways to lower the price of your home insurance, starting with comparison shopping on sites like LowestRates.ca. Doing so will get you a variety of cheap quotes from top providers in seconds, and for free.

Other ways to lower your home insurance premiums are:

Factors that determine your Canadian home insurance quotes

Your home insurance policy will be customized to suit your needs and the property you’re insuring.

Canadian home insurance quotes can be like fingerprints – they are different for everyone. However, there are some factors that insurance companies look at to help determine their home insurance quotes, including:

  1. Square footage of your home: Larger homes generally cost more to insure due to their size, more furnishings and possessions, and ultimately, a higher risk for the provider.

  2. Contents and quality of construction: More expensive contents will cost more to insure. Replacement value will be higher and insurance providers see that as extra risk. Also, construction is very important. Newer homes with better systems, roofs and materials pose a lower risk than older homes that have shoddier construction or need a lot of repairs.

  3. The location of your home: A home located in a high-crime area or a flood zone, for example, is a greater risk for providers and will demand a higher home insurance premium. Safer locations with good security and/or low crime rates would be cheaper to insure. Check out these location-based home insurance endorsements to make sure you are fully covered.

  4. Distance to a fire hydrant: The proximity to a fire hydrant can mean the difference between saving or losing your home, should a fire break out. Insurance providers look at this proximity when assessing risk and will take it into account when assigning your home insurance rate.

  5. Your insurance claims history: Insurance providers look at history and assign risk to it. More claims filed in the past usually mean more claims in the future. Few or no claims could mean you are a low risk and may not make claims going forward.

  6. The age of your roof: Your roof protects your entire home and its possessions. A new solid roof is a low risk factor and could help you save on insurance premiums. An old roof could be damaged easily in a storm, causing severe loss to you. As a result, your provider might deem it high-risk. Learn more about the impact of your roof on your home insurance.

  7. Your home’s plumbing: A well-maintained home, including its plumbing, can prevent damage. Upgraded pipes and sump pumps, that can prevent flooding, will pose a lower risk than older pipes that can damage easily and cause flooding.

  8. Your home’s electrical system: Old wiring and old ‘knob-and-tube' electrical systems can pose a severe risk of fire or a short circuit. Insurance providers will charge higher premiums on older systems, as the risk posed by them is greater than newer systems, which have fail-safe shut-off mechanisms and reduced fire potential.

Frequently asked questions about home insurance

How much does home insurance cost in Canada?

The average cost of home insurance in Canada can range from $800 to $1,200 per year.

At the end of the day, however, each home insurance customer is impacted by different factors, including where they are located, the age of their home and the value of their possessions. These factors can either raise or lower the cost of your home insurance, depending on where you stand.

How can I get the cheapest house insurance quote in Canada?

Shop around. You can do that by comparison shopping on LowestRates.ca. We provide up-to-date and accurate quotes from the top home insurance providers in Canada. We’ll put you in touch with a licensed broker, who can further discuss your needs and get you the rate that works best for you.

Other ways to find cheap home insurance include bundling other insurance products with one provider, increasing your deductible, upgrading your home and security systems and paying your premium annually.

Why compare home insurance quotes online?

Comparing home insurance quotes online is a fast and easy way to ensure you’re getting the cheapest rate on what is likely to be your most expensive asset.

LowestRates.ca compares quotes from the top providers in the country, so you can get the best policy at the cheapest price. And because quotes can vary from province to province, and neighborhood to neighborhood, finding quotes through LowestRates.ca minimizes the stress of searching for them yourself.

How do I compare home insurance quotes?

It’s easier than you think! Visit LowestRates.ca, input some data about your location and your insurance needs, and within seconds, you’ll have the cheapest home insurance quotes from Canada’s top providers.

We can help fill in the gaps on questions you might not have the answers to such as your square footage, distance from a fire hydrant or how new your roof is. Our system does the rest.

Once you’ve selected the quote you want, the broker offering that quote will get in touch with you to lock in your rate and help you set up your home insurance policy.

Do home insurance providers require a credit check?

Credit checks are not mandatory to acquire home insurance. However, many providers may ask for it and will need your permission to do so. Having a good credit score shows you are reliable and likely a low risk. That can help reduce your home insurance premiums.

LowestRates.ca only does one credit check per application, meaning your credit score will not be affected. Homeowners who search for an insurance plan on their own will often have to submit credit checks for each provider they get a quote from. And the more often you request a credit check, the lower your score will be. If you’re worried about your score, you can check it ahead of submitting a home insurance application using our credit score checker.

Should I select an actual cash value home insurance plan or a replacement cost plan?

The replacement cost value (RCV) is the amount paid to replace property or personal belongings without any deduction for depreciation. The actual cash value (ACV) is the replacement cost value minus depreciation.

Which one is better?

Like most insurance questions – it depends. ACV can be a more affordable option, but it may not offer sufficient coverage if your personal belongings are stolen or damaged. On the other hand, RCV increases the cost of your policy, but the payout amount you will likely receive from your insurer will be higher in the event of a covered loss.

Assess your items and their value and talk to your provider about which option makes the most sense for you.

How do I submit a home insurance claim?

Submitting a claim is, hopefully, a last resort. However, it is important to be organized and ready, should such action be necessary.

You can start by speaking to your insurance provider, broker or even beginning the claim process online.

It’s best to make sure you have a list of the items you are making claims on, with their value (or original receipts/photos if you have them) and/or medical documentation if claims are related to personal injury.

What is a house insurance policy deductible?

A home insurance deductible is the amount of money you are responsible for before any claims are filed. Often, the higher the deductible, the lower your home insurance rates will be, while the lower the deductible, the higher your rates will be.

Before setting a deductible:

  • Assess your budget to see what’s affordable and how much you are willing to pay upfront for stolen or damaged items.
  • Talk to your provider or broker about rates and which deductible rate best suits your needs and income.

Who are the best home insurance providers in Canada?

Insurance is very personal. Your needs and home will differ from those of every other home insurance customer in the country. Finding the ‘best’ home insurance provider will require research on your part to see whose policies, rates and customer support best suit your situation.

You can start by finding the cheapest rates at LowestRates.ca. From there, we’ll put you in touch with a licensed broker, who can further advise you on providers that suit your insurance needs.

Joel Kranc

Joel Kranc

About the Author

Joel Kranc is an award-winning writer, author and journalist. Most of his experience lies within the institutional investment and financial services space. He also covers a variety of business topics for publications in North America and the UK.

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*Shoppers who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 32%. The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes tenant and condo insurance.