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Home insurance is your guardian angel. It protects you from the financial devastation of having to repair or replace everything in the event of… anything. 

Plus, if you have a mortgage, you are required to have home insurance. Does it matter where you get it?

Insurely compares itself to Disneyland in terms of product, experience, and service. So, is Insurely really worth your time, trust, and premiums? Let’s see.

ProsCons
Outstanding customer service:
24/7 claims and access to a helpline and app
Easy claims process
Different regions have different eligibility norms
Option to pay your premiums by credit card or debitYou cannot bundle your home and car insurance yet.
Insures furnished rentalsNot available in Quebec
Protects against tenant vandalism
Includes rental income protections
Comprehensive coverage
Customizable protections
30-day scheduling to set up your policy
Good for condos, homes, tenant, and rental properties
100% online
Update your coverage online yourself
Get approved in 10 minutes

What Google Says About Insurely: Customer Service Is Amazing

According to its 4.9/5 Google rating, Insurely is very easy to use but it is the customer service testimonials that hit hard.  

You would think that a 100% online home insurance broker just had an email or AI chat feature. Not Insurely – it has people who care and who call with discounts.

Customer service levels like you don’t expect from insurance. A favourite story is how Insurely helped with a claim during Christmas. As Amanda Frayn wrote, a broken furnace in -40 degree weather 3 days before Christmas is terrible. 

However, Insurely, “not only responded to her questions, but they reached out to check in and assisted in getting answers from the claim adjuster. I am so happy I moved over to Insurely and would suggest you reach out to see if they work for you as well.

What Type Of Home Insurance Does Insurely Offer?

Insurely offers comprehensive insurance across Canada, excluding Quebec, that you can customize. As Insurely explains on their website, comprehensive insurance covers everything except named perils as exclusions.

So, if your policy names exclusions like flood, hail storms, or tornado, then damage from that is not covered. If you want to add on a specific peril, like flood insurance, you can.

Home Insurance

Insurely’s “Secure Home” plan caters to homeowners, offering up to $2 million in coverage for homes and possessions, complemented by an equivalent liability insurance.

Insurely policies also have Guaranteed Home Replacement to make sure you are fully covered in an insured peril. The policies are customizable and give you options for liability, add-ons, and extra coverage. 

Condo Insurance

This covers you, your condo unit, and your belongings after an insured peril. Also included is personal liability which could cover you anywhere in the world. Your condo board also has deductibles, send an Insurely agent your condo documents and they can help you! 

Tenant’s Insurance

Renters often find their personal belongings aren’t covered by their landlord’s insurance. Insurely steps in, offering both personal belongings and liability coverage for such individuals. Tenant insurance covers you for your personal liability and your own contents.

You get to choose what you set your content limit to. You also have the availability to schedule important items like jewelry, fine art, and bicycles to your policy. 

Rented Home Insurance

Like the home policy, this is a comprehensive policy that includes the revenue property’s home, outbuildings, and your landlord’s contents (furniture/appliances etc.). It also gives you amazing options for things that are not typically covered, such as tenant vandalism coverage. 

Rented Condo Insurance With Income Replacement

Unlike other companies, Insurely covers fully furnished units as well. The policies would cover landlord contents as well as lost rental income.

For example, if your tenant needs to move out while your unit is being repaired after a fire, you won’t be collecting rent. This coverage would kick in to make up for the rent lost. 

How Insurely Solves The Inflation Problem

Insurely lets you access your policy online. That means that you can update and add coverage from your screen and at your convenience.

So, let’s say that your latest property tax valuation lists your property – rental or owner-occupied – at a 15% increase in value. You can go online and increase your coverage to include the 15% increase.

Income Protections

In fact, insurance is a form of wealth protection. In the event of damage, theft, vandalism, or injury to someone on your property, insurance pays for replacement, repair, or damages.

However, Insurely also protects your rental income if you rent a condo to a tenant. If your tenant has to move out because of damage or repair, Insurely has an income replacement feature. Your rental income is protected. 

When every dollar counts, it is a real benefit when insurance is not just a cost but a source of revenue as well. This is something Insurely does well.

Paying For Insurely

Insurely understands how Canadians pay for their expenses. Insurely lets you pay your premiums via debit or credit card. You can decide to pay monthly or annually. 

This is great because most Canadians have a credit card but not every Canadian has steady income or available funds for a lump sum payment. Breaking up your premiums into monthly credit card charges helps people afford insurance. 

If paying your premium does not impact your budget, a credit card is still a good way to pay for Insurely. Most credit cards offer rewards on your total purchases. Adding your Insurely premiums just gets you more reward points.

A Soft Credit Check To Help Lower Your Premiums

Each time you purchase your policy, including renewal, Insurely does a soft credit check on your file. If your credit score improves, your premiums might go down.

Other Ways To Lower Your Insurely Premiums

Your premiums reflect the property’s age, location, the homeowner’s duration of stay, the property’s distance from emergency services, and previous insurance claim history. That doesn’t mean that there aren’t other ways to lower your premiums. 

Therefore, here are some standard things you can do. Of course, the key is to let your insurer know about these things.

  • Choose a yearly premium to save on certain fees
  • Install a water sensor
  • Put in a backflow valve or sump pump
  • Upgrade your home wiring, heating system, and plumbing
  • Maintain or replace your roof
  • Make a detailed list of your assets to know exactly what coverage you really need
  • Install a security system.

Is Insurely The Right Insurance Choice For You?

Home and property insurance is not a nice-to-have; it is a must-have. If you think the cost of living is high, imagine having to replace everything all at once. 

Insurely really is good at making shopping for insurance clear, quick, and easy. If you want a comprehensive policy to protect your assets, Insurely is a great choice. 

Plus, it has flexible payment options, so it doesn’t require you to remember to pay your annual premium. Breaking up the premiums on your monthly credit card bill makes it easier to keep up with your payments. That is great for Canadians who have tighter budgets or uneven incomes.

Insurely describes itself as the Disneyland of Insurance. It has no gimmicks, no fluff. However, it does offer everything you want in one place coupled with outstanding customer service. Their customer testimonials confirm it. Insurely is right for you want good insurance fast and easy. 

FAQ About Insurely Home Insurance

Am I Required To Have Home Insurance In Canada?
If you have a mortgage, then your lender will require you to show proof of insurance. If you paid off your mortgage, you need insurance to replace or repair what you lose, or else you might need a new mortgage, or a personal loan, to do it yourself. The costs to do it can damage your financial security.
Is comprehensive insurance coverage a good idea?
Housing is a hot topic in Canada. If you are lucky enough to have a house, condo, apartment, or even a rental property, you know that you need to insure it for more than you did a few years ago. The replacement cost of everything these days is higher but cataloguing everything you have or would need to replace is unrealistic. Staying with your current policy or shopping for a new one requires you to acknowledge how much you potentially have to lose in dollar value if anything goes wrong.A comprehensive insurance policy makes it easier to go through the insurance process by listing what perils are not covered instead of an exhaustive list of what is.
 Does Insurely offer a customer portal? 
Yes, Insurely’s website provides 24/7 access to policy details and facilitates effortless claim filing with your own unique login. 
What’s included in the replacement cost coverage? 
This ensures that if significant damages occur, your home is covered if a total rebuild is required. 
Stefani Balinsky avatar on Loans Canada
Stefani Balinsky

Stefani Balinsky is the Head of Content Strategy at Loans Canada. Her work and her commentary have appeared in major media including the Toronto Star, Financial Post, and Bell Media. She is a creative and analytical thinker with a way with words. Direct, empathetic and funny, she makes convincing and coherent sense out of complex ideas. She has many years of leadership experience in marketing, writing, mentoring, and fintech.

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