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How we find you the best home insurance quotes in Quebec

Home insurance is a major component of homeownership. It protects your property, family and possessions from damage and liability. Without home insurance, you may be disqualified from mortgages or left to pay out of pocket in the event of property damage.

When it comes to purchasing home insurance, you’ll want to make sure you’re getting the best coverage at the best price. LowestRates.ca compares home insurance quotes from providers in Quebec, offering a quick and painless way to find great coverage.

Here, we break down what you need to know about protecting your property in Quebec. We also offer you the opportunity to get a quote that can help you save.

What affects home insurance rates in Quebec?

Insurance companies look at a wide array of categories to determine your annual premium. Many of the details considered concern your property and where it’s located. Insurers also look at who and what’s inside your home to determine proper coverage.

If you or your property are deemed more risky to insure, your premium will reflect that.

  • The location of your property can determine how guarded it is from theft, break-ins or random damage. For example, you may get a lower quote if you live on a quiet side street over a busy city throughway prone to vandalism. The past experience of your neighbourhood will show insurers how likely it is you’ll make a claim. Your location will also show insurers how close you are to a fire hydrant in case of an emergency.
  • Your property will be evaluated for its replacement cost: that is, how much it will cost to replace the structure and its contents in its entirety, not how much your home costs on the real estate market. Insurance makes sure your home can be rebuilt if it’s deemed a total loss.
  • The quality of your property’s build will also be considered, including the age of the roof, how susceptible it is to water damage, and any other natural aspects such as old trees above or infiltrating roots below. The type of heating and electrical will also be considered, along with any security features.
  • Finally, there will be a personal profile done on the homeowner to determine their risk as well. For example, Quebecers who smoke may pay more for home insurance because neglected butts are a fire hazard.

Risk factors in Quebec

Quebec is known for its picturesque summer and fall seasons, but is notorious for its bitter, harsh winters. Consistent, freezing temperatures pose unique risks to homeowners in the province.

Freezing conditions

Though it’s colder in the northern province than it is in the south, freezing pipes are still a concern during the winter season throughout the province. Snow is also common for at least three months total, with peaks in January and February. Ice storms have historically impacted southern Quebec, freezing power lines and filling storm drains with the eventual thaw.

Regions at highest risk: Western and Central Quebec.

Excessive snowfall

In north-eastern Quebec, where snow averages can top 146 inches for the winter, a strong roof is paramount to maintain the building’s structural integrity and protect its contents. Providers will definitely be interested in the age and type of roofing material installed on your home.

Regions at highest risk: Central Quebec, Northeastern Quebec.

Aging housing stock

Quebec is known for its Gothic and Victorian architecture, and you can be sure insurers will inquire about the last renovation of older homes, their heating and electrical systems, what has been upgraded, staircases, and if entry and exit points are secure and/or accessible.

Regions at highest risk: Quebec City, Montreal.

What kind of coverage do you need in Quebec?

The amount of coverage required for your property should reflect the value of the home itself, plus all the important contents within. Keeping track of how much everything is worth and noting any renovations or big purchases will ensure you have an accurate valuation.

In Quebec, it’s crucial to protect your home from winter damage, frozen or broken pipes, flooding, and falling trees. Burst pipes and exterior damage from heavy snow or fallen trees may be covered with named perils coverage, depending on your insurer. Creating a space that is safeguarded from these scenarios is even better; insulation, structural upgrades and winter maintenance can go a long way.

It’s important to discuss your coverage options with your broker or provider and read over your policy thoroughly.

Comprehensive or All Perils - An all perils or comprehensive insurance policy will cover nearly all risks, except those explicitly excluded. The most expensive type of coverage available.

Basic or Named Perils - With named perils insurance you will only be covered for losses related to the perils named explicitly in your policy.

Broad - Generally considered to be a good compromise between comprehensive and basic policies. A broad policy protects the structure of your home from all perils, while its contents are only covered against named perils. 

No Frills - This policy will be your most basic coverage option that will still cover the cost to replace or repair your property, but may leave out ornamental coverages such as room and board in the event of a fire, for example.

Endorsements - These are additional coverages you can add on to your policy to protect valuables that may not be included in traditional property insurance. For example, you may want to add on an endorsement to protect your expensive jewelry or fine art collection from damage or theft. Endorsements are also referred to as “riders” or “floaters”.

Who regulates the home insurance industry in Quebec?

The regulatory body for insurance in Quebec is called L’Autorité des marchés financiers (AMF) and it governs using the Act respecting Regulation of the Financial Sector, S.Q. 2013.

The AMF, as mandated by the Quebec government, regulates and oversees Quebec’s financial markets, approves rate changes, and assists consumers with financial products and services.

What can you do to save on home insurance in Quebec?

You can save on almost all types of property insurance policies in Quebec if you know where to look. It’s important to recognize the discounts you’re eligible for so you don’t end up spending more than needed.

Some of the most common property insurance discounts in Quebec relate to:

  • Maintaining good credit
  • Making your home more secure and resistant to natural damage
  • A strong/new roof
  • Bundling different insurance types with the same provider
  • Shopping around for the best quote
  • Loyalty to your insurer

What companies offer the best home insurance in Quebec?

Picking the best insurance provider can be challenging, as there are several companies in operation catering to assorted property types and homeowners in Quebec.

Homeowners in Quebec benefit from the diversity and competition within the insurance industry, which is why shopping around is one of the first steps to take when you’re looking for a new provider. Whether you want an international, Canadian or Québécois insurance company protecting your property, LowestRates.ca can help you find the right fit. Here are some of the major insurance companies operating in the province:

  • Belairdirect
  • Promutuel
  • La Capitale
  • Desjardins General Insurance

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