Is home insurance legally required?

No. Canadian law does not require you to take out home insurance, but mortgage lenders and banks do require it for properties that are not fully paid off. For tenants, home insurance is still important, because the building owner's insurance policy won't cover your personal belongings against the unexpected: theft, vandalism, water and fire.

What is the average price of home insurance in Quebec and Ontario?

The average cost of a home insurance policy varies according to a number of criteria, including place of residence, type of property (house, condo, rental) and type of coverage (basic, extended, comprehensive). At Quebec and in Ontario, 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.

What's the best home insurance?

The best insurance to cover your home and personal belongings is comprehensive home insurance, but it's also the most expensive. What's more, the cost of home insurance varies according to a number of criteria, such as where you live, the type of property you own, the type of coverage you have, and the value of your home and personal belongings.