Our Insurance Comparison Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. Need more info? Our Frequently Asked Questions can break down Home coverage in greater detail.
Compare Home Insurance Policies
|Product name||Max Coverage||Min Premium||Exclusions|
|Premier Home by Pen Underwriting||Max Coverage GBP3M||Min Premium N/A||
|Prestige Home by Independent Commercial Broking Group Limited||Max Coverage N/A||Min Premium N/A||
|Magenta: Home by inet3 Ltd||Max Coverage GBP2M||Min Premium N/A||
|Magenta: Holiday Home by inet3 Ltd||Max Coverage GBP5M||Min Premium N/A||
|Home Plus by Modus Underwriting Ltd||Max Coverage GBP5M||Min Premium N/A||
|Home and Contents by Chubb||Max Coverage N/A||Min Premium N/A||
|Home and Contents by AIG||Max Coverage N/A||Min Premium N/A||
|High Net Worth Home and Contents by Advantage Underwriting Ltd||Max Coverage GBP8M||Min Premium N/A||
|Overseas Home by Pen Underwriting||Max Coverage N/A||Min Premium N/A||
|Holiday Homes by Pen Underwriting||Max Coverage N/A||Min Premium N/A||
Frequently Asked Questions(click to expand)
What Is Home Insurance?
- Building insurance
- Contents insurance
Who Needs Home Insurance?
- Residential property/house
- Secondary home
- Seasonal home
- Mobile home/trailer
- Student accommodation
Home insurance is not suitable for those renting a property, however coverage for Contents insurance is still advised.
What Does Home Insurance Cover?
Building insurance provides coverage for interior and exterior damage to the property caused by the following perils:
- Fire or lightning
- Windstorms or hail
- Riots or civil commotion
- Damage caused by vehicles
- Damage caused by aircraft
- Smoke damage
- Acts of vandalism
- Volcanic eruption
- Falling objects
- Damage from thawing ice/snow
- Discharge or overflow of water from internal appliances/sewer back-up
- Broken/burst plumbing
- Damage from electrical currents
Contents insurance provides coverage against loss, damage or theft of personal items and possessions, such as:
- Electronic equipment
- Carpets and upholstery
- Jewelry and valuables
- Expensive clothing
- Garden equipment
- Fridge/freezer contents
Some Home insurance programs are specifically for one property, whereas others cater to multiple home or property owners. This can also include extended coverage for children of the policyholder if they are at university, covering their possessions under the same Contents part of the policy. Home insurance can also be extended to provide coverage against accidents in the home or on the property.
While Home insurance policies cover damage, including accidental damage, not all cover catastrophic events or natural disasters (eg flooding, earthquake, wildfire). It is important to check the wording of the types of damage included and if it excludes certain causes of damage.
What Is Not Included in Home Insurance?
- Natural wear and tear
- Deliberate acts of damage
- Damage caused by pets/animals
- Certain types of natural disaster (check policy wording if overland flooding, earthquake or wildfire exclusions are applied)
- Acts of war or terrorism
- Contents confiscated by the government or police
How Is Home Insurance Sold?
Many insurance companies can create personalized Home insurance quotes through online forms completed on their websites.
How Much Is Home Insurance?
The price of Home insurance will be determined based on the following factors:
- Value of the property
- Value of the contents (if included)
- Location of the property (ie near a floodplain, faultline, etc)
- Claims history
All of these things will determine the amount of the premium, as well as how much of it needs to be covered. Excess insurance may also be purchased as an add-on in case of a one-off event that requires an amount beyond the agreed coverage limit needs to be paid.
Generally, things that increase the risk of damage or destruction to a residential property and/or contents, increasing the likelihood of a payout, will increase the cost of a Home insurance policy.