Get an accurate Home quote
Step 1 of 4Estimates only; final premiums are subject to underwriting.
Postal code
A postal code is enough for an initial estimate. Add a street address to look up property details and refine the estimate.
Enter a valid postal code first, then your address
Coverage
Property by replacement/contents value, annual policy · Higher coverage lowers the per-$1,000 rate
Free estimate · No lead capture, no obligation. Estimates are informational only; final premiums are subject to underwriting.
Home insurance is priced on rebuild cost, not market value
Premium = rebuild cost × province and city risk × deductible. Rebuild costs in Canada are up about 69.4% since 2020, so a policy sized three years ago is usually underinsured today.
What drives your home premium
- Rebuild cost — floor area × unit construction cost × age and region factors.
- Province and city — BC carries the highest risk loading in Canada, Alberta the second highest.
- Age and systems — wiring, plumbing, roof and heating age drive both price and eligibility.
- Water and earthquake endorsements — sewer backup and overland water are optional almost everywhere.
- Deductible — $1,000 is standard, $2,500–$5,000 suits a household that can self-insure small losses.
Coverage to check line by line
- Dwelling at rebuild cost — the single number that decides whether a total loss is actually covered.
- Contents, on a replacement-cost rather than actual-cash-value basis.
- Personal liability of $1M–$2M, which also covers you away from home.
- Additional living expenses and loss assessment (condo/strata deductible calls).
Four ways to cut your home premium
Re-check the rebuild cost
Under-insuring is the most expensive mistake in home insurance: a coinsurance clause can cut every claim in proportion. Over-insuring only wastes premium.
Raise the deductible
$1,000 to $2,500 typically saves 5–10%, and water claims below the deductible are the ones most often declined anyway.
Water and theft upgrades
Backwater valves, sump alarms, monitored alarms and newer roofs usually earn a discount and, more importantly, keep the claim insurable.
Bundle, or split deliberately
A multi-policy discount of 5–15% is common, but a carrier that is very cheap on home and expensive on auto can lose to two separate winners.
Home insurance questions
How much is home insurance in Canada per year?
Typical 2026 ranges: BC $1,500–2,200, ON $1,200–2,000, AB $1,300–1,800 for a $400k home with a $1,000 deductible. Coastal BC, wildfire zones and older wiring push well above that.
Should I insure the market value or the rebuild cost?
Rebuild cost. Market value includes land, which insurance never covers. In a hot market the gap can be 40% — insuring market value overpays, insuring too little triggers coinsurance penalties.
Is sewer backup covered automatically?
Almost never. It is an endorsement with a separate limit, typically $10k–$50k. Basement and ground-floor households should carry at least $50k with overland water where flooding is recurring.
Can I insure a rented-out or vacant property?
Yes, but on a landlord or vacancy-specific form. A standard owner policy will decline a claim once the home has been vacant beyond the stated period, commonly 30 days.
Keep reading
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Enter the address and we pre-fill year built, area and assessment — BC addresses are matched against assessment data.
Insurance figures reviewed October 2026. Estimates only; final premiums are subject to underwriting.