The Best Home Insurance Companies in Canada

We’ve taken a look at the most popular home insurance companies in Canada along with which of their products and services have helped make them so. Our data is representative of what a typical user of LowestRates.ca in 2021 would have said after running a quote through our service, choosing one of the results, and then contacting a broker to set up the corresponding policy.

A Guide to Homeowners Insurance

You need to know what coverage you need and what you can go without in order to obtain a great rate on home insurance, and you need to know how to receive quotes from a variety of home insurance carriers in order to compare prices and coverage options.

To help you out, we’ve researched the most well-liked house insurance providers in Canada and analyzed the features that make them stand out.

This is how our rating system works

We represent many of Canada’s finest home insurance providers, many of which are profiled below.

We take these measures to provide you peace of mind that the policy you choose comes from a reliable company whose offerings will meet your needs.

Our statistics reflect the average replies of LowestRates.ca users in 2021, who utilized our quote tool, picked one of the rates they received, and connected with a broker to get the corresponding policy. However, they were only aware of the premium rate, not the insurer’s name.

However, your personal profile is the single most important element in determining your rate when shopping for home insurance, so keep that in mind when you compare different companies.

In other words, the sort of coverage you seek, the type of property you’re insuring, and your personal information are going to nudge your expenses one way or the other, regardless of what others say about which firms offer the best home insurance in Canada.

Canada’s five best homeowners insurance companies

How does one become a leader in the Canadian house insurance market? According to our ratings, the five businesses down below exhibit good judgment.

Following are the insurance companies that Lowest Rates of car insurance in Canada

1. Economical Mutual

Economical was founded in 1871, making it one of Canada’s longest-running insurance providers. It offers a number of insurance kinds including coverage for autos, homes, business liabilities and insurance for hobby farms.

The company takes great pride in its dedication to customer service, highlighting the availability of its team of more than 600 claims professionals to policyholders around the clock.

If you have a home insurance policy with Economical, you may be eligible for special savings like those given to customers who have never filed a claim or are mortgage free.

  1. Aviva

More than 860,000 Canadian houses are covered by insurance policies issued by Aviva, making it one of the country’s most significant insurers.

Including the subscribers it gained through its 2016 acquisition of RBC General Insurance Company, Aviva now serves more than 33 million customers in more than 100 countries.

Aviva customers can receive special benefits such as lower premiums for meeting certain criteria, such as not smoking, living in a newer home, or not having a mortgage. Aviva customers who are interested in home security and/or making their houses more energy efficient are eligible for discounts on these products and services.

Aviva additionally stands out from the competition thanks to its unique offerings. You may be able to lower your deductible after going a certain number of years without filing a claim, or you may be eligible for claim-free status after filing your first claim. According to Aviva, you can have a “disappearing deductible.”

  1. CAA

The CAA (formerly the CAA of Canada) provides insurance for a wide variety of dwellings, including single-family homes, multi-family dwellings, and condominiums.

Users of LowestRates.ca have voted CAA as one of the finest Canadian house insurance providers.

If you have a home insurance policy with CAA, you may call their 24/7 helpline for assistance with everything from medical issues to identity theft to house repairs at no additional cost.

Read on for an in-depth comparison of how real Canadians using LowestRates.ca rate the top house insurance providers against one another.

Top Home Insurance Providers in Each State

Companies in Ontario that are rated as the best for homeowners insurance

  • Evaluation of Insurance Agencies
  • One Squared Insurance, A
  • Collaboration Towards A Shared Economic
  • Continuity of Coverage A
  • Aviva A-
  • A- for CAA Insurance
  • The Top Home Insurance Providers in Alberta
  • Evaluation of Insurance Agencies
  • The Beginning, Grade A-Squared
  • Intact A-
  • RSA A
  • Economical A-
  • Top Homeowners Insurance Providers in British Columbia
  • Evaluation of Insurance Agencies
  • The Beginning, Grade A-Squared
  • Continuity of Coverage A
  • Aviva A-
  • Gore A

Knowing which firms are often regarded as the finest in Canada’s house insurance market is a great starting point, but you should also focus on finding ways to lower the cost of your policy as a whole.

Comparison searching and tailoring your policy are key to finding a low premium on homeowner’s insurance.

Yours should be personalised to fit your needs and interests, and you should avoid overpaying for unnecessary features.

Home insurance providers will look at various factors to determine the applicant’s risk level. For instance, how probable is it that they will file a claim, and what kind of claim might they file?

Providers will focus on learning as much as they can about three main points about your application: the sort of coverage you seek, the type of property you possess, and you, the applicant.

There are a number of things you can do in addition to comparison searching to ensure you obtain the finest house insurance in Canada at the lowest rate:

Identify the kind of protection you’ll require – There are primarily three categories of home insurance:

Most homeowners opt for comprehensive coverage. It protects your house and its contents against any risk.

Additionally, broad insurance is very common, especially among homeowners who care less about their belongings being insured. This policy protects your home and belongings from any and all hazards.

To safeguard your home and its contents from certain risks, you should get at least the minimum amount of coverage available through your insurance policy.

The higher the level of protection you require, the more your premiums will be.

Get in touch with a broker for advice on the best form of coverage to suit your needs at no cost to you.

If you aren’t overly concerned with safeguarding your belongings, you may be satisfied with a homeowner’s insurance policy that provides only limited protection against certain risks to your property’s contents.

You can expect higher premiums from any homeowner’s insurance provider if your home is in disrepair, so it’s in your best interest to keep it in good shape at all times.

On the other hand, if you’ve been diligent about home upkeep, you can be in a good position to save money. If it’s easy for your homeowners insurance company to verify that you’re a low risk, they’ll likely reward you with a competitive cost.

The roof of a house that hasn’t been changed in 40 years is statistically more likely to leak and flood the interior than the roof of a home that has recently been constructed. Therefore, the latter will have greater premiums.

You can improve your chances of getting a policy by: Thinking about how you can make yourself a more desirable customer will help you get a better rate.

It is possible to save money by having all of your policies managed by the same organisation if you bundle them together. You can also opt to pay the annual fee all at once instead of making monthly payments. Taking any action that sends the message to a service provider that you pose a minimal risk will almost always result in a price reduction.

In case you’re wondering what steps you can take to make your homes insurance policy more attractive to top-tier companies, a qualified broker will gladly answer your questions for free.

Consult a broker — With LowestRates.ca’s free online quote tool, you can quickly connect with the top house insurance brokers in Canada.

A broker will call you once you have received bids to go over them, answer any questions you may have, and show you where you may cut costs.

You can find out a tonne of information about the insurance plan you’re thinking about getting. It’s a win-win since you won’t have to pay anything to receive our advice, and you won’t have to buy a policy just because you talked to a broker.

Though a broker can advise you on the finest coverage, it’s always a good idea to learn as much as possible about the insurer you’re thinking of signing up with.

Researching the best house insurance providers in Canada may be done easily by reading internet reviews. Even though it’s important to keep in mind that online reviews in general may be prejudiced, they may nonetheless occasionally mention shows that are of particular interest to you. You can also learn something about a company’s customer service by reading online reviews.

You can learn how they treat their customers and if or not they offer any discounts or endorsements that are worth pursuing further with a broker.

When you know what to look for and what factors insurers take into account when determining premiums, finding the finest possible home insurance policy at the most affordable premium is a breeze.

Our goal at LowestRates.ca is to make it as easy as possible for you to compare and select from the top home insurance providers available online.

We’ll do the research and rate-checking for you, and we’ll put you in touch with some of the best Canadian house insurance brokers at no cost to you.

Get a quote right now to see how much you could save.

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