If you're looking for a quick and easy way to get home insurance at a decent rate, Square One will deliver. Square One launched its professional services in January of 2011 and now provides several different insurance products, including landlord insurance, tenant insurance, condo insurance, and more. They've found a way to bypass many of the complexities typically built into more traditional policies, making it easier to customize your insurance coverage.
This doesn't mean that Square One's home insurance is a perfect product – we've identified several details that could turn off potential clients. But overall, the value and convenience offered by Square One is hard to beat.
Square One's home insurance features
Here's an overview of all the features that Square One's home insurance offers.
Why You Want It
Rates start as low as $12 per month + Coverage is fully customizable and online.
Special Features
- Coverage for as low as $12 per month
- Only offers a Comprehensive insurance policy for the best protection
- Allows customers to exclude coverage for property they don't own to reduce premiums
- Access to a Legal Advice Helpline
- An expert review of your condo corporation's insurance policy to determine your necessary limits and deductibles
- Interest-free monthly payments
- 24-hour claims service with a guaranteed 2-hour emergency response
- Available in Quebec
Eligibility
- Age of majority in your province.
Provinces
AB, BC, MB, ON, QC, SK
Features
Liability Insurance
Personal Valuables Coverage
Actual Replacement Cost Of Home And Personal Belongings
Full Sewer Backup
Overland Water Coverage
Hail Coverage
First Claim Forgiveness
Replacement Cost Guarantee
Enhanced Deductible Waiver
Green Coverage
Additional Living Expenses
Home Sharing
Home Security Savings
Multi Home Savings
Newly Built Home Savings
Square One's home insurance product rating: 4.7 stars
Square One's score of 4.7 stars is decent, but it can be a bit misleading. They lost points for not providing things like multi-home discounts, and they don't offer any kind of first-claim forgiveness (although a representative told us that they're considering it). But they do offer several other benefits, such as discounts for loyalty, being mortgage-free, and having a new roof.
This insurance product isn't perfect. They're only available in five provinces, and we'd really like to see multi-property policies receive savings benefits. But as for what it does offer, Square One is top notch.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Square One's home insurance
There are a few areas where Square One really shines. Take a look:
Pros
Offers competitive rates starting at $12 a month
While there are many factors that influence home insurance rates, Square One's home insurance starts at just $12 per month, which is quite impressive. There are plenty of customization options which can mean your own rate will be higher than this, but that can be a good thing considering the extra coverage you'll receive.
Choose either monthly or annual payments
Not only are Square One's rates decent, but they also allow you to choose your payment frequency. If monthly payments are easier for you, no problem. Rather pay once per year? Done. Plus, there's no contract involved, so even if you do decide to pay annually, you can still cancel whenever you need to.
Customization is easy
Square One gives you the reins and allows you to create and customize your own insurance plan. You choose the types of coverage, limits, and deductibles that fit your needs – so you're saving money by only paying for what you want.
Guaranteed 2-hour response for emergencies
Nobody wants to be stranded and waiting for help during an emergency situation. Square One has a 24-hour emergency claim line so you can contact them at any time to make your claim, plus they guarantee that you'll be contacted by a claims adjuster within 2 hours. This all but ensures that you'll get the help you need ASAP.
Available in Quebec (but not through our link)
One pro of Square One's home insurance is that you can be covered even if you're in Quebec, a province that often gets the short end of the stick when it comes to availability. But one thing to note is that our link doesn't work for Quebec residents, so please apply directly through the Square One website if you're interested in moving forward.
The cons of Square One's home insurance
Unfortunately, there are still a few aspects of Square One's product and services that could use improvement.
Cons
Not available in most of Canada
Unfortunately, Square One is only available in a few provinces. While it's possible that the company will expand to offer services to other areas of the country, we can't be certain.
Non-refundable premium
While it probably won't break the bank, the fact that the first $50 of your premium is non-refundable is annoying. Once your payments pass the $50 mark (which likely won't take long), you're free to cancel anytime you want. Still, it's a small detail that customers would no doubt prefer not to deal with.
No in-person assistance
Square One is an online company, catering to those who prefer to do business in the virtual realm. Of course, this means there aren't any options for in-person applications or consultations, which can be disappointing for anyone who likes the sound of what Square One has to offer but isn't comfortable with technology.
Square One's home insurance alternatives
If you're wondering how Square One's home insurance stacks up against the competition, here's a side-by-side comparison:
 |  |  |  | |
|---|---|---|---|---|
| Account | Square One's home insurance | Allstate Home Insurance | TD Home Insurance | The Co-Operators Home Insurance |
| Genius Rating | ||||
| Why You Want It | Rates start as low as $12 per month + Coverage is fully customizable and online. | Get a disappearing deductible + Extra discount options. | 10% off for online purchases + Get free advice from lawyers and contractors. | One-of-a-kind flood coverage + High customer satisfaction ratings. |
| Liability Insurance | | | | |
| Personal Valuables Coverage | | | | |
| Actual Replacement Cost Of Home And Personal Belongings | | | | |
| Full Sewer Backup | | | | |
| Overland Water Coverage | | | | |
Show More | ||||
| Get a quote See more Square One products Compare | Learn More See more Allstate products Compare | Learn More See more TD products Compare | Learn More See more Co-operators products Compare |
FAQ
What does Square One's home insurance cover?
Square One provides many essential types of coverage, such as liability, sewer backup, and additional living expenses. It's also easy to customize your insurance package to meet your specific needs, which is a bonus.
Is Square One available all across Canada?
Unfortunately, Square One is only available in a few provinces, mostly western and central Canada. While it's possible that the company will expand to offer services to other areas of the country, we can't be certain.
How much is home insurance from Square One?
Home insurance plans from Square One begin at just $12, which is surprisingly low. Plus, they offer customers the option of paying either monthly or annually, no contract required. This way, you can cancel whenever you need to.
Is home insurance with Square One a good choice?
Square One has been an insurance provider for more than 10 years. They offer several types of insurance, competitive rates, and an easy online application system – all details that make them an excellent choice for home insurance.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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