Our complete Square One home insurance review
verified information
Information verified by Adeline Harmant
Our articles are written by experts in their fields (finance, trading, insurance etc.) whose signatures you will see at the beginning and at the end of each article. They are also systematically reviewed and corrected before each publication, and updated regularly.
Discover the methodologyHome insurance is the best protection you can buy for your home and belongings. It ensures that your most valuable asset, the roof above your head, is protected. Yet for many Canadians, choosing home insurance can be a difficult task. Whether you are a renter, live in a condo or own a house, It may seem like there are endless options and providers. This can seem confusing and hard to understand, but buying insurance doesn't have to be hard.
To put your mind at ease, this page answers your questions about Square One home insurance. Read our review, get Square One home insurance quotes and see how the competitors fare.
Our review of Square One home insurance
Square One is an online insurance agency serving Alberta, British Columbia, Manitoba, Ontario, Quebec and Saskatchewan. Square One has been operating since 2011. It was founded by insurance and technology veterans with the goal of offering competitive rates on homeowners, condos, and tenants' insurance. As a new brokerage, they rethought how an insurer can work and streamlined the process. These cost savings get passed on to customers. The Mutual Fire Company of BC underwrites Square One. They are Canada's first insurance company to offer customizable home insurance policies.
Picking the right insurer now will save you both time and money if you ever need to make a claim. Interested in a quote from Square One. Compare providers and get a quote today:
Compare home insurance plans
What does Square One insurance cover?
What HelloSafe's team especially likes about Square One is the ability to completely customize your insurance plan. They offer home insurance plans for homeowners, condo owners and tenants. Differing from other, more traditional insurance companies, Square One gives you complete control to choose what type of coverage, limits and deductibles you want from your policy. This allows for more freedom and accessibility, meaning you only pay for what you need.
All policies from Square One represent the highest level of protection currently available in Canada. They make it easy for you to protect your home against common incidents (such as water damage and theft), even covering the costs of rebuilding your home to meet the latest bylaw or code changes.
This table shows the basic coverage options available from Square One. However, options are not limited to the ones shown.
| Coverage type | Homeowners | Condo | Tenant |
|---|---|---|---|
| Detached structures | optional | ||
| Additional living expenses | |||
| Personal belongings | |||
| Identity theft and financial loss coverage | optional | optional | optional |
| Legal protection coverage | optional | optional | optional |
| Water damage and sewer backup |
Good to know
Are you still unsure how home insurance works? Our home insurance guide has all the answers to your questions.
Square One insurance pros and cons:
Here is what HelloSafe thinks about Square One home insurance:
Why Square One may be right for you:
- No need to go into an office. Purchase online or over-the-phone
- Easy to understand and customize coverage
- Water, fire and hail damage included
- Quick online and phone quotes
- 24/7 emergency claims line with guaranteed 2-hour response time
- Competitive rates
- Almost 30,000 reviews with an average rating of 4.7 stars out of 5
Why Square One may not be right for you:
- No customer-facing office for people who prefer to meet face-to-face
- No mobile app currently available
How much does a Square One policy cost?
Square One rates current start at:
| Tenants policies | Condo policies | Homeowner policies |
|---|---|---|
| $12 per month | $40 per month | $75 per month |
There are many different factors that influence the price of home insurance. The type of property being insured, your province, city and neighbourhood are all considered when calculating your premium. Everyone’s property and risks are different.
Factors that can affect the cost of home insurance:
- Value of property
- Age of property
- Location of property
- Age and condition of the electrical system
- Age and condition of plumbing
- Named personal belongings covered
- Presence of security system
- Completed renovations
- Pools
How do I purchase a plan with Square One?
With Square One, there is no need to enter into an office to purchase a plan. You can do this simply through their website, or by calling 1-855-331-6933.
Before setting on Square One home insurance, look around! You can quickly and anonymously compare prices from leading home insurance companies.
Compare home insurance plans
How much home insurance do I need?
Your home insurance plan should be enough to cover the replacement value of your residence and provide an additional $1,000,000 to $2,000,000 in personal liability coverage.
It can be difficult to find the policy that is right for you. It's important to find the balance between the value of your insured property, your risk tolerance and your budget. Your belongings should also be taken into account. You may prefer to save money and opt for a basic plan because you do not have many valuables in your apartment. On the other hand, someone with a large house full of valuables collectibles, antiques and electronics would appreciate the peace of mind afforded by a comprehensive plan with add-ons.
Good to know
To put simply, how much home insurance you need is a balance between your budget, your risk tolerance and the value of your home and belongings.
How do I contact Square One?
You can contact Square One by calling to speak with an agent on 1-855-331-6933. Their phoneline are open: Monday to Saturday - 5:30am to 6:30pm
Alternatively, you can contact them through written form. Square One’s mailing address is:
Square One Insurance Services, 650 West Georgia Street, Suite 1410 Vancouver, British Columbia V6B 4N8
How do I file and make a claim with Square One?
You can file a claim by logging into your Square One online account or by calling 1-855-331-6933. Initiate the claim under the “Claims” sections. Be prepared to share information about the incident, and the date, and be able to detail the loss. You will be contacted within two hours for emergency assistance or within one business day for non-emergency claims. An adjuster will be assigned to work with you from beginning to end. Square One pays out 90% of all claims submitted.
Watch out!
Note that if the loss is due to criminal activity like a burglary, vandalism or similar, you will first need to file a police report.
How can I cancel my Square One policy?
Cancelling your Square One policy is a simple process. There are two options: log into your account online or call to speak to your insurance representative. Once your request is reviewed by an agent, it may take a few days to process. However, cancellation and refunds are effective the day you make the request.
Can I transfer my policy?
If you have a new property and wish to stay with your current insurer, contact Square One directly. Your rates will almost certainly change as the new property will have a different risk profile and value.
Home insurance plans are not transferable from a former owner to the new one. The new owner will need to contact an insurer about their new house, condo or rental.
