When it comes to protecting your home and belongings, having an insurance policy tailored to your needs can provide peace of mind. Square One, a licensed insurance agency in Canada, offers a unique home insurance product that allows you to customize your coverage based on your individual requirements. In this review, we will explore Square One’s coverage options, customization features, the pros and cons of their service, pricing, and how home insurance can safeguard your assets.
Square One is a licensed insurance agency that began its operations in 2011, aiming to provide modern and personalized home insurance solutions. They are one of North America’s original online home insurance providers, with their head office located in Vancouver, BC. Square One focuses on cost-efficiency and passes on the savings to its clients by eliminating paperwork, centralizing functions, and using local claims adjusters and vendors.
Square One sells insurance, while The Mutual Fire Insurance Company of British Columbia (MFI) underwrites their home insurance. MFI is a provincially-registered insurance company serving several Canadian provinces.
Square One offers two main types of insurance:
Square One’s house insurance is Canada’s first customizable policy, allowing you to personalize your limits, coverage, and deductibles. It covers unexpected events such as break-ins, theft, fire, and windstorms, and guarantees building replacement coverage even if the cost exceeds your insurance coverage.
Tenant insurance is essential for renters, protecting your belongings from damage or loss due to incidents like theft, fire, accidental damage, and more. With a Square One tenant policy, you can customize your coverage, limits, and deductibles, even covering financial losses from identity theft.
Square One offers a comprehensive (all-risk) policy that protects against various common losses, including break-ins, fires, hailstorms, burst pipes, water backups, and more. The policy covers the main structure of the house, attached garages, swimming pools, hot tubs, and additional costs due to building code changes. Personal property coverage is also included, protecting household goods, electronics, clothing, furniture, and appliances. Square One policies offer liability protection, additional living expenses in case of evacuation, and coverage for identity theft and financial loss.
Square One is available in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. The company is licensed and regulated by official insurance regulators in all the provinces where it operates.
Getting a personalized home insurance quote from Square One is a straightforward process:
The cost of your home insurance policy depends on various factors, including the type of insurance, the cost to rebuild your home, its age, and your location. Square One offers policies for as little as $12 per month for tenant insurance, approximately $40 per month for condo owners, and around $75 per month for house owners. For a more accurate cost, it’s recommended to obtain a quote on their website by providing detailed information.
Square One has been in business since 2011 and is an accredited member of the Better Business Bureau with an A+ rating. The company has a physical presence, a team of experienced professionals, and numerous customer reviews with an average rating of 4.7 out of 5 stars. Square One’s legitimacy is further supported by its association with the Mutual Fire Insurance Company of British Columbia.
Considering Square One’s customizable policies, low insurance costs, high claims payout rate, strong customer satisfaction, and an A+ rating from the Better Business Bureau, it appears to be a worthwhile choice for home insurance. The ability to tailor your coverage to your specific needs and the convenience of online services make Square One an attractive option for those looking to protect their property and belongings.
In conclusion, Square One offers a compelling solution for those seeking customizable and cost-effective home insurance in Canada. With their user-friendly approach and strong customer satisfaction, Square One is a legitimate and practical choice for protecting your property and belongings.
