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If you own a home, house insurance is always a good idea. And is even a requirement if you take out a mortgage to purchase a house. 

But, as with all insurance, finding the right home insurance option is a chore no one wants to deal with. 

The good news is Square One is making home insurance easier. They’ve simplified the process and taken out all the unnecessary steps. You can get a quote and complete the process of getting a personalized policy all online.

Who Is Square One? 

Square One has been around for over a decade, offering Canadians home insurance products to keep their homes, their belongings, and their families safe. The relatively new insurance agency promises highly competitive rates thanks to its online presence and customizable insurance policies.

Customizable policies simply mean customers can eliminate coverage that they don’t need, which reduces premiums. And, with little overhead, Square One can pass its savings onto clients in the form of lower premiums. Policies started as low as $12 per month, making insurance as affordable and budget-friendly as possible.

Square One was also developed with simplicity and convenience in mind. Traditionally, obtaining a home insurance quote or policy would be time-consuming and cumbersome. With Square One, the complexities of these policies have been effectively removed to make room for quick, simple, and affordable coverage. 

Square One insurance

Types Of Insurance Offered By Square One

Square One offers residential insurance policies that are designed to protect you, your home, your belongings, and anyone who visits. 

House Insurance

If you own a property, you’ll need insurance to cover it and its belongings against loss or damage. These policies provide coverage to your home, detached structures on the property (such as a shed, pool house, or fence), personal contents, and living expenses if your home is deemed uninhabitable. 

You can receive liability coverage if someone visiting your home gets injured or if you cause damage to someone else’s belongings. In this case, you would have coverage against any potential litigation.

Choose To Add Additional Coverage

Furthermore, you’ll have the opportunity to include identity theft protection that will cover you if you ever experience financial loss as a result of someone stealing your identity

There are also other optional home insurance coverages that you can choose to include in your policy, such as legal protection or rental income coverage.

Pick And Choose To Save On Premiums

The great thing about house insurance with Square One is that you can pick and choose exactly what you want to be included in your policy. For example, if you don’t own any detached structures, you can exclude that coverage from your policy. Rather than pay for more coverage than you need, you have the freedom to pick from a list of items that you want to be included or excluded in your policy. That way you’re only paying for what you need. 

Tenant Insurance

If you are currently a renter, the owner of the property will have an insurance policy on the home or building. However, you should still take out a policy to protect yourself and your belongings. 

tenant insurance policy from Square One will also provide coverage for any temporary living arrangements that need to be made if the property you rent has gone through a significant loss.

Pick And Choose To Save On Premiums

You’re free to choose your coverage, limits, and deductible to customize your policy according to your budget and needs. For example, if you don’t own any jewellery or sporting equipment, you can exclude those from your policy and reduce your premiums. You’ll be protected against significant types of loss as a result of things like fire, theft, and accidental damage. 

Financial loss from identity theft is also available with a tenant insurance policy from Square One.

Send Your Policy To Your Landlord

Lastly, you can choose to have your policy details automatically sent to your landlord. That way, as a renter, you don’t need to worry about finding your insurance details when your landlord asks to see them. 

What Type Of Property Can You Insure With Square One?

The following types of properties can be insured under a Square One policy:

  • Detached homes
  • Semi-detached homes
  • Townhouses
  • Condominiums
  • Multi-plexes
  • Rental properties (including short-term rentals like Airbnb) 
  • Vacation properties

Pros of Choosing Square One 

Affordable Options For All Canadians

As mentioned earlier, you can find some of the lowest premiums available through Square One thanks to its customizability and low overhead as an online-based agency. Plus, you can minimize premiums by choosing proper insurance limits and boosting the deductible.

Personalized Coverage

You have plenty of flexibility when it comes to customizing your policy and choosing what you want and don’t want to be covered. That way you’re not paying more for something you don’t need. 

Coverage For Water Backup And Inland Flooding

The majority of home insurance companies offer coverage for damages associated with water backup and inland flooding, but only as an extra. They’re not usually included in a standard policy. Square One, on the other hand, automatically includes water backup and inland flood coverage in its policies. 

Quick Coverage

Get insured in as little as 5 minutes when applying online or over the phone. 

Pay Monthly Without Paying More

The majority of insurance companies charge a little more when clients choose to pay their premiums monthly. But not Square One. You’re free to pay monthly without paying more in fees or interest. 

Convenience Of Online Access

There’s no need to meet face-to-face with an insurance agent to set up an insurance policy. Instead, everything can be done online from the comfort of your home. Plus, you can keep tabs on your claims and see how far along you are in the process of getting reimbursed.

One Adjuster Per Claim

There’s no need to jump around from one adjuster to another when your claim is being handled. Instead, you’ll be assigned a dedicated adjuster who will work with you and your claim from the get-go.

24/7 Claims Service

Get in touch with someone right away no matter the time of day or night. In the event of an emergency, Square One guarantees someone will contact you within 2 hours. 

90% Claim Payout Rate

Square One has an excellent track record of approving and paying out claims. 

No Contract

There’s no need to commit long-term to your policy, as Square One requires no contract, allows you to cancel at any time, and will automatically renew your policy. 

Cons of Choosing Square One 

Not Ideal For Those Who Are Uncomfortable With Working Online

If you prefer to deal with someone in person or are not digitally savvy, then you may have some issues dealing with an online-based agency. That said, you can always speak with an agent over the phone when you need assistance.

No Refunds On The First $50 Of Your Premium

If you choose to cancel your policy for whatever reason and you’ve paid less than $50 in premiums, the difference cannot be refunded. 

What Rates Can You Get With Square One? 

The rate that you will be charged will depend on several factors, such as the age and condition of your home, to name a few. That said, Square One Insurance rates start as follows:

Tenant Insurance Policies
Renters Insurance Policies
from $12 per month
Condo Insurance Policies
Townhouse Insurance Policies
Rental Property Insurance Policies (Condos)
Rental Vacation Property Insurance (Condos)
Semi-Detached or Duplex Insurance Policies (Condos)
from $40 per month
Detached House Insurance Policies Rental Property Insurance Policies (Houses)
Rental Vacation Property Insurance Policies (Houses)
Semi-Detached or Duplex Insurance Policies (Houses)
from $75 per month

Want to switch over to Square One? Check out how to cancel your current home insurance policy

Things To Remember When Taking Out A Policy With Square One 

Consider the following before you buy a home insurance policy from Square One:

Be Honest In Your Application

If you file a claim and your insurance provider discovers that you provided inaccurate information on your application, you may be denied compensation. You also risk having your policy cancelled altogether. When filling out your application for a home insurance policy, be completely honest with your answers. 

Update Your Policy When Changes Occur

If anything changes with your home, you need to inform your insurance provider as the value of your home may have changed or the risk level may have increased.

For instance, if you install a pool or add an addition, your insurance provider will need to know. More specifically, any upgrades that cost over $25,000 should be communicated with Square One as it may impact certain coverages. Your policy will need to reflect the change, as well as the new value of your home as a result of these changes so that your policy will cover the cost of replacing the new upgrades if your home is damaged.

Or, if you rent out your basement and now have a tenant living in your home, this increases potential risk, which your insurance provider will need to know about. Your policy will be adjusted accordingly to keep you protected. 

Provide Proof Of Value

You’ll have total flexibility when it comes to choosing the appropriate coverage with Square One. If you want certain items covered — such as valuable artwork, jewellery, or sporting equipment — you’ll have to provide proof of their value when buying a policy. Otherwise, you may not receive adequate compensation if you file a claim. This only applies to items valued over a certain amount, and you can upload your proof directly when getting a quote.

Inform Your Insurance Provider When You’re Away From Home For An Extended Period Of Time

While taking a vacation for a week doesn’t require a phone call to your insurance provider, being away for weeks or months at a time does. When no one is around, the risk of damage is much higher. For instance, if a fire breaks out, there will be nobody around to deal with the situation quickly.  

Plus, your policy excludes water damage as a result of burst pipes after they’ve frozen during the winter. To avoid finding yourself without compensation, inform your insurance provider if your home will be vacant for more than 7 days. Otherwise, shut the water off to your home and have someone periodically visit before you leave so there’s little chance of this situation occurring. 

Don’t Wait To File A Claim

When you need to file a claim, do so immediately. This allows your insurance provider to take quick action and inspect the loss or damage more accurately to establish a fair settlement.

Make Timely Premium Payments

As long as you keep up with your premiums, you will always have coverage. But if you fail to pay up, you could leave yourself vulnerable to lack of coverage.  

How To File A Claim With Square One? 

To file a claim with Square One, follow these steps:

  1. Log in to your online account at
  2. Click the “Claims” tab
  3. Choose your policy
  4. Click “Report a new claim”
  5. Follow the instructions given

Of course, you can always file a claim over the phone. You will be contacted within 1 business day after opening a new claim. For emergencies, your adjuster will contact you within 2 hours. If you need to speak to someone immediately, you can call Square One at 1.855.331.6933. They are available 24 hours a day, 7 days a week. 

Final Thoughts

A home insurance policy is an important one to have in place, and Square One offers comprehensive policies that are highly flexible and can be customized according to your needs. If you like the idea of dealing with your provider primarily online and appreciate not having to pay for more than what you need, Square One may be worth checking out.

Square One FAQs

Is Square One safe to use? 

Square One has been in business since 2012 and has thousands of reviews on its site. They are also accredited by the BBB and have a rating of A+. Most importantly, The Mutual Insurance Company of British Columbia, which is Square One’s home insurance underwriter, has an AM Best’s Financial Strength Rating of A-. 

Can you bundle your car and house insurance with Square One Insurance? 

No. Unfortunately, Square One only offers house, condo and tenant insurance. As such, you won’t be able to bundle your car and home insurance for any discounts with Square One. 

Which provinces is Square One available in?

Currently, Square One services clients in Ontario, Manitoba, Alberta, Saskatchewan, British Columbia, and Quebec.

Will my claim still be valid if Square One goes under? 

Yes. Square One is an agency that serves as an authorized agent for the Mutual Fire Insurance Company of British Columbia, which is a member of the Property and Casualty Insurance Compensation Corporation (PACICC). That means if your insurance provider goes under, PACICC will deal with your claim.

Is Square One an insurance broker, insurance agency or insurance company? 

Square One is a managing general agency and an authorized agent for the Mutual Fire Insurance Company of British Columbia. On their behalf, Square One issues property insurance policies.
Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

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