A Must-Have for Mortgage Approval
Need a Mortgage? Don’t Forget Home Insurance
Home Insurance for Homeowners in Canada
Whether you're a first-time buyer or a long-time homeowner or an investor, protecting your home & investment with the right insurance policy is essential. In this guide, we’ll explain what home insurance covers, how it works, and why it’s a must-have for homeowners in Canada.
What Does Home Insurance Cover?
- Property Damage: Covers repairs for fire, storms, vandalism, and more.
- Contents Protection: Insurance for personal items like furniture, electronics, and appliances.
- Liability Coverage: Protects you if someone is injured on your property.
- Living Expenses: Covers hotel stays and meals if your home becomes unlivable.
How Much Does Home Insurance Cost?
In Canada, home insurance costs typically range from $900 to $1,500 per year, depending on your location, home value, and coverage needs.
Why Every Homeowner Needs Insurance
Homeownership comes with financial risk—without insurance, a single disaster could cost tens or hundreds of thousands of dollars. Home insurance gives you peace of mind and financial security.
Best Home Insurance Providers in Canada (2025)
Choosing the right home insurance is essential to protect your property and peace of mind. We've reviewed the top Canadian providers based on coverage, customer service, and affordability.
Top 5 Home Insurance Companies in Canada
- Intact Insurance – Comprehensive coverage, great for bundled policies.
- Aviva Canada – Known for quick claims and customer support.
- TD Insurance – Competitive rates for homeowners and condo dwellers.
- Desjardins – Strong regional presence and flexible options.
- The Co-operators – Ideal for families and rural properties.
- RBC Home Protector Insurance – Ideal for homeowners and investors.
What Does Home Insurance Cover?
- Property damage from fire, theft, or storms
- Liability protection if someone is injured on your property
- Temporary living expenses if your home is unlivable after a covered loss
How to Choose the Right Mortgage for your Home or Investment
Call Us at 905-216-2897 to compare your current mortgage rate or simply applying a new one with one click.