What is the average cost of home insurance?

The average price of home insurance varies according to a number of criteria, such as place of residence, type of dwelling and type of coverage. The average cost of home insurance is $87 ($1044/year) for a house, $31/month ($372/year) for a condo and $23.50/month ($282/year) for a rental, according to our partner YouSet.

What's the cheapest home insurance?

The cheapest home insurance is basic home insurance. It offers coverage limited to the risks listed in your insurance policy. Although more affordable, you should be prepared to cover the cost of any damage not included. Otherwise, compare with an extended or comprehensive policy.

Is tenant's insurance legally required in Canada?

No, home insurance is not legally required for tenants in Canada. But your landlord may require it to rent one of his apartments. This situation is very common among landlords who rent out furnished accommodation.

Which is the best home insurance company?

Home insurance premiums vary from one insurance company to another, depending on a number of criteria (e.g., place of residence, type of dwelling, type of coverage, claims history), but also on the target customers (e.g., some insurance companies won't insure homes in flood zones). So get several home insurance quotes and compare them before making a decision. Or contact an insurance broker like YouSet.