{"id":210622,"date":"2025-07-16T08:00:00","date_gmt":"2025-07-16T12:00:00","guid":{"rendered":"https:\/\/milesopedia.com\/news\/a-guide-to-home-insurance-in-canada\/"},"modified":"2025-08-01T02:28:56","modified_gmt":"2025-08-01T06:28:56","slug":"home-insurance-canada","status":"publish","type":"post","link":"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/home-insurance-canada\/","title":{"rendered":"Insurance: Guide to home insurance in Canada"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>When the time comes to <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/real-estate\/tips-for-buying-first-home-canada\/\">buy a house<\/a> or <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/real-estate\/should-you-rent-buy-home-canada\/\">rent an apartment<\/a>, home insurance isn&#8217;t the most exciting thing on your mind! But it&#8217;s a necessary step to take before <a href=\"https:\/\/milesopedia.com\/en\/guide\/strategy\/moving-furnishing-expenses\/\">moving<\/a> day. If you&#8217;re new to insurance, this guide to home insurance is for you! First, we explain why you should buy <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/cheap-home-insurance-rates-canada\/\" target=\"_blank\" rel=\"noopener\">home insurance<\/a>. Next, the type of insurance policy and coverage that&#8217;s right for you.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--4'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"179984,179990,179753,179998,210618,179994,179962,179973,210595,210586\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t\t\t\t<button type=\"button\" class=\"deferred_button\" data-page=\"1\" data-per_page=\"4\">\n\t\t\t\t<i class=\"fas fa-spinner-third fa-spin\"><\/i>\n\t\t\t\tLoad More\t\t\t<\/button>\n\t\t\t<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;What is home insurance and why is it important?&#8221; css=&#8221;&#8221; el_id=&#8221;what_is_home_insurance_and_why_is_it_important_&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">Home insurance is not legally required in Canada if your home is fully paid up. But you will need it to obtain a mortgage from a mortgage lender.<\/p>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Although not compulsory, <strong>home insurance<\/strong> helps you sleep well at night, whether you own a home or rent. It protects your property and personal belongings against damage, loss, theft and vandalism. What&#8217;s more, if you have to leave your home temporarily following a covered loss, home insurance covers your living expenses. Finally, home insurance can also cover medical expenses if someone is injured while visiting your property.<\/p>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">In short, your home is much more than just a place to sleep. Rather, it&#8217;s a place where you live and where your most precious items are stored. So it&#8217;s very important to be protected against damage or loss.<\/p>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>To <a href=\"https:\/\/milesopedia.com\/en\/?p=173931\">compare home insurance quotes<\/a>, feel free to use our tool.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Types of home insurance&#8221; css=&#8221;&#8221; el_id=&#8221;types_of_home_insurance&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">As we mentioned earlier, you don&#8217;t just need insurance when you buy a single-family home. There are also other properties you should consider insuring, such as a rental building, condo, vacation home or cottage.<\/p>\n<p>Here&#8217;s more information on each type of home insurance.<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Home insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;home_insurance&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">Homeowner&#8217;s insurance is a type of insurance for owners of detached houses, covering the building as well as detached structures such as sheds. Most homeowners opt for comprehensive coverage, as it offers the best protection for their home and personal belongings.<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Tenant insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;tenant_insurance&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p><a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/tenant-insurance-canada-2\/\">Renters&#8217; insurance<\/a> is designed for people who rent an apartment, condo or house. It mainly protects your personal property, but also covers medical expenses for visitors who are injured on the rented property. Tenant insurance does not cover damage to the property (the <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/homeowner-insurance-canada\/\">owner is insured<\/a> for this). But it does cover living expenses if you have to move temporarily to carry out repairs following an insured loss.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='1'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"179962\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading text=&#8221;Condo insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;condo_insurance&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>If you own a condominium, you&#8217;ll opt for <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/condo-insurance-coverage-canada\/\">condo insurance<\/a>. Like home insurance, condo insurance protects your unit and your personal property. It also covers shared common areas such as the gym, roof, garage, etc. You&#8217;ll also be covered if you have to live elsewhere during maintenance or repair work on your building or condominium unit.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='1'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"179998\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading text=&#8221;Vacant home insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;vacant_home_insurance&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Do you have a vacation home or cottage? If this is the case, you&#8217;ll need to take out <a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/what-is-vacant-home-insurance-in-canada\/\">vacant home insurance<\/a>. This type of policy requires you to choose your perils (or risks), as the risk of damage is higher since you&#8217;re not there all year round. Many insurance companies will list both your permanent and secondary residence on the same policy.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='1'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"179969\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading text=&#8221;Landlord insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;landlord_insurance&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p><a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/homeowner-insurance-canada\/\">Landlord insurance<\/a> is required for owners of rental properties who rent out their property to others. Like homeowner&#8217;s insurance, this type of policy protects the building and covers civil liability if someone is injured on the property. The main difference is that landlord insurance can reimburse lost rental income if the building or dwelling is damaged and tenants are unable to occupy it.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='1'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"210618\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Types of insurance policies&#8221; css=&#8221;&#8221; el_id=&#8221;types_of_insurance_policies&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">When you choose a home insurance policy, you get a number of coverages, including personal property and liability coverage. Personal property coverage protects you financially against loss or damage to your personal property and home. Public liability coverage protects you legally against liability for losses caused by injuries to visitors to your home.<\/p>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Once that&#8217;s settled, there are <strong>three types of home insurance policies<\/strong> to consider:<\/p>\n<ul>\n<li>Comprehensive home insurance<\/li>\n<li>Basic home insurance<\/li>\n<li>Extended home insurance<\/li>\n<\/ul>\n<p>Here&#8217;s more information on each of them.<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Comprehensive home insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;comprehensive_home_insurance&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>A <strong>comprehensive home insurance<\/strong> policy offers the best coverage for your home and personal belongings. It protects you financially against loss, damage (fire, vandalism, natural disasters) or theft of your personal belongings and your home. Although more expensive, it&#8217;s the most popular choice for Canadians because of its comprehensive coverage. Use our tool to <a href=\"https:\/\/milesopedia.com\/en\/?p=173931\">compare home insurances<\/a> and find the best policy for your needs.<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Basic home insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;basic_home_insurance&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>A <strong>basic home insurance<\/strong> policy offers less protection than comprehensive coverage, since it only protects you financially against the risks listed in your policy. This means that not all accidents or events such as theft, flood or fire will be covered. The advantage is that your monthly premium will be lower with basic coverage than with comprehensive coverage.<\/p>\n<p>That said, you need to understand the types of risks covered by your policy before making your decision.<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Extended home insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;extended_home_insurance&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>An <strong>extended home insurance<\/strong> policy is somewhere between basic and comprehensive coverage. With comprehensive home insurance, you&#8217;re covered against all risks except those listed as exclusions in your policy. This means that your home may not be protected against certain events, such as an earthquake, but is covered for all other risks.<\/p>\n<p>Contact your insurance agent or broker to find out exactly what your current policy covers. Since not all risks are covered, an extended home insurance policy generally costs less than full coverage, but more than basic coverage.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Types of insurance coverage&#8221; css=&#8221;&#8221; el_id=&#8221;types_of_insurance_coverage&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p><strong>Home insurance <\/strong>policies in Canada are quite comprehensive. They include standard coverage, but you can also add additional (optional) coverage.<\/p>\n<p>Here&#8217;s more information on these types of insurance coverage&#8230;<\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Standard protections&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;standard_protections&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">Standard protections include&nbsp;:<\/p>\n<ul>\n<li><strong>Dwelling<\/strong>: Protection for the physical structure of your home, including foundations, walls, roof and detached structures (e.g. sheds, decks, etc.).<\/li>\n<li><strong>Civil liability<\/strong>: Protection against possible legal action for accidental injury or property damage.<\/li>\n<li><strong>Personal property<\/strong>: Protection of your personal effects (furniture, clothing, jewelry, electronics, works of art, etc.) in the event of theft, loss or damage caused by a covered loss.<\/li>\n<li><strong>Additional living costs<\/strong>: Coverage for expenses incurred if you must temporarily leave your property due to a covered loss (e.g. hotel room, clothing, etc.).<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Optional protection&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;optional_protection&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">Optional coverage includes&nbsp;:<\/p>\n<ul>\n<li><strong>Water damage<\/strong>: Protection against water damage such as sewer backup, surface water and above-ground water.<\/li>\n<li><strong>Identity theft<\/strong>: Protection against identity theft and fraud, covering legal costs.<\/li>\n<li><strong>Earthquakes<\/strong>: Protection against damage caused by earthquakes.<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">For each of these insurance coverages, conditions and limits apply. For example, what water damage is covered and how much is insured. Check your home insurance contract with your current insurer, as well as with other insurance companies.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Covered and uncovered losses&#8221; css=&#8221;&#8221; el_id=&#8221;covered_and_uncovered_losses&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p data-placeholder-blurred=\"R\u00e9digez un contenu\" data-placeholder-focused=\"R\u00e9digez un contenu ou saisissez \u00ab \/ \u00bb pour r\u00e9diger avec l'AI+ Content\">As mentioned earlier, it&#8217;s very important to understand the types of risks that are covered by your policy before taking out or renewing home insurance. In general, your insurance policy covers disasters or unexpected events such as floods, theft or wind or hail storms.<\/p>\n<p>Usually,<a href=\"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/not-covered-home-insurance-canada\/\">home insurance does not cover foreseeable events<\/a>, also known as speculative risks. An example of a speculative risk would be leaving a candle burning all night in your bathroom, causing a fire. The outcome of the action was foreseeable and, in the event of fault on your part, your insurance policy will not cover the cost of repairing your home. Other examples include damage caused by lack of maintenance, normal wear and tear, intentional damage or unoccupied homes.<\/p>\n<p>Again, be sure to speak with your insurance company to understand what is and isn&#8217;t covered. If necessary, don&#8217;t hesitate to talk to an insurance broker like <a title=\"ClicAssure\" href=\"https:\/\/milesopedia.com\/en\/go\/clicassure\/\" rel=\"noindex\">ClicAssure<\/a>.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Bottom Line&#8221; css=&#8221;&#8221; el_id=&#8221;bottom_line&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>In short, home insurance isn&#8217;t the most exciting part of renting or buying a property. But it&#8217;s essential to protect your personal property, among other things. We hope this comprehensive guide to home insurance has answered your questions, and that you can now make an informed choice.<\/p>\n<p>Finally, don&#8217;t forget to use our <a href=\"https:\/\/milesopedia.com\/en\/?p=173931\">home insurance comparison<\/a> tool to find the best policy for your needs.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_toggle title=&#8221;What is the average cost of home insurance?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>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, according to our partner <a title=\"ClicAssure\" href=\"https:\/\/milesopedia.com\/en\/go\/clicassure\/\" rel=\"noindex\">ClicAssure<\/a>.<\/p>\n<p>[\/vc_toggle][vc_toggle title=&#8221;What&#8217;s the best home insurance for the cheapest price?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>The cheapest <a href=\"https:\/\/milesopedia.com\/en\/finances-personnelles\/assurances\/home-insurance-know-how-canada\/\">home insurance<\/a> is basic home insurance. It offers protection limited to the risks listed in your insurance policy. Although more affordable, you should be prepared to cover the cost of any damage not included.<\/p>\n<p>[\/vc_toggle][vc_toggle title=&#8221;Is home insurance mandatory in Canada?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>No. Canadian law does not require you to take out <a href=\"https:\/\/milesopedia.com\/en\/finances-personnelles\/assurances\/home-insurance-know-how-canada\/\">home insurance<\/a>. But mortgage lenders require it for properties that are not fully paid up. In other words, to get a mortgage. That said, home insurance is still important to protect your personal property in the event of theft, vandalism, fire and much more.<\/p>\n<p>[\/vc_toggle][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In this guide to home insurance, we explain why you should take out home insurance, whether you own a house or 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