Rental property insurance customers love and trust
Typically, it’s more challenging to insure rental properties than it is to insure primary residences. That’s not the case at Square One.
We make it easy for you to properly insure your rental properties. In fact, your rental property insurance policy with Square One is one of the few to include comprehensive protection.
Our rental property policies are about $40/month for rental condos and $75/month for rental houses. Keep reading to learn why Square One is right for you.
Don't just take our word for it. Here are some of the reviews that contribute to our average rating of 4.7 stars out of 5. Want to read more? Visit our reviews page.
I have only ever used Square One for my rental insurance. They have such an easy straightforward way of doing things through their website. It really makes it easy to choose what you need and what you don't. Moving is a breeze, just change your address and your settings are all saved for you. All at an affordable price? Can't go wrong!
I've been using Square One since I switched from another company in 2019, and I have nothing but positive things to say. Customer service is always excellent, tweaking and updating my policy online is a breeze, and the price is excellent for what I have on my policy.
Thank you for the easy renewal for our home insurance. We have been very happy with Square One and were really happy that upon renewal our home insurance went down. I can not remember the last time, if ever, that upon renewing home insurance our policy for the year was less than the year before.
I spent a while looking at options for rental insurance. Even called a local broker. Square One provided, by far, the best process. The online forms clearly indicate what your options are, allow you to weigh the pros and cons of your selections against alternatives, and provide immediate feedback on price. The wording on the policy itself is also clear and easy to understand, and when I requested a callback to ask about coverage limits, I received a call right away, and the fellow I spoke with was super helpful.
I called various insurance providers to get quotes for my home insurance, but once I spoke to Kayla at Square One, it was clear that she had an in-depth knowledge of Square One products. Kayla had the patience to understand my needs and guide me through the entire process, an exceptionally intuitive approach and she tweaked the policy to my specific needs. I ended up switching home insurance for my other house too which I hadn’t planned. Thanks to Kayla for helping me save money without compromising my core needs.
When I phoned, Alaina was super helpful to me as a first-time buyer and patiently explained anything I had questions about. Then I thought it was pretty cool you could customize it and mull it over online before purchasing.
I had the unfortunate experience of navigating a flood shortly after moving into our new apartment. It's supposed to be a pain in the rear to go through the claims process. It's confusing, it even feels a bit embarrassing—but the team at Square One (and their partners) were incredible to deal with. They made a really bad situation good(-ish). Super responsive, sympathetic to what happened, treated me like a human. I'm a customer for life ... if only they offered more than just property insurance!
The people I dealt with were polite, understandable, and especially patient and clear in explaining options or choices. They were never pushy, patronizing or arrogant. It was a pleasure.
I literally set up new rental insurance at my new place in less than 10 minutes online. The questioning was easy, thorough and concise. I had my new policy by email just a minute after completing it online. Pricing was very fair with yearly and monthly payment options. Highly recommend!
Had 7 minutes to get this done while riding the SkyTrain home and got it completed as I rolled into my stop. Kudos!
Six reasons why you’ll love Square One
With Square One, you can get a quote, buy a policy and even submit a claim – all online, from the comfort of your own home. Quotes and policies are managed through your online account, but if you need help, expert assistance from one of our licensed insurance agents is just a webchat or phone call away.
All policies from Square One represent the highest level of protection currently available in Canada. We make it easy for you to protect your home against common perils (such as water damage and theft) and we even cover the costs of rebuilding your home to meet the latest bylaw or code changes.
Guaranteed building replacement coverage
Get the peace of mind you deserve. Simply insure your home to Square One’s suggested limit and, if you experience a loss, we’ll rebuild your home, even if the cost of doing so exceeds your limit of insurance.
All policies protect most common personal property items including laptops, smartphones and furniture. If you own specialty property (such as bicycles or fine arts) you can also add coverage to your policy. That way, you only pay to insure what you actually own.
Need to make a claim?
Making a claim with Square One is easy. In fact, most of the process can be done online. You'll get your own dedicated adjuster to work with you from start to finish to make sure you’re back on your feet in no time. And, Square One pays out on 90% of all claims submitted.
Interest-free monthly payments
We’re confident you’ll love our service and stay with us. That’s why we don’t lock you into a contract. With us, you can pay monthly or annually and there’s no fixed-term contract. You can also change your payment preferences through your online account.
ready for an online quote? Policies start at $12/month if you rent your home and $40/month if you own your home. To see how much you can save with Square One, get a personalized online quote now.
Learn how you’re protected
with Square One
When you buy rental property insurance from us, the experience is straightforward from quote to claim. View the sections below to learn about the coverages, deductibles, protection and claim service offered by Square One. You can also download sample policy wordings.
House coverages. Your house is probably the largest asset you own. So, properly protecting it is really important. Our system will help you determine the estimated rebuild cost for your house, which will form the basis of your building limit. You'll then have the option of insuring any detached structures on your property as well as landscaping, fences and gardening equipment.
Condo coverages. With Square One, you get the best condo insurance in Canada. You know that saying, “You get what you pay for?” It’s true. Our policy may cost a little more, but it’s there when you need it. Our optional Condo Owners Protection coverage includes:
Blanket coverage for all condo damage: You select a single limit that covers damage to your unit and its improvements, insurance assessments from your condo corporation, and shortfalls under your condo corporation's commercial insurance policy.
Expert review of your needs: Send us your condo corporation's commercial insurance policy and we’ll determine what you need to be properly protected.
Legal advice helpline: Have an issue with a building bylaw or a noisy neighbour? Our policy includes unlimited access to a legal advice helpline for any condo-related issue.
Other coverages. There are a few other coverages that are essential to any insurance policy, including liability protection.
Landlord's property: This optional coverage protects any property that you have provided in a rental unit/home for your tenants to use. Includes appliances, window coverings and furniture. It does not include any property owned by your tenants. Your tenants need to purchase their own insurance policy.
Legal protection: This optional coverage provides unlimited access to a telephone helpline through which you can receive legal advice relating to the residential tenancy of rental units in your home. In some cases, it also protects against legal costs to pursue or defend some of your rights as a landlord.
Policy deductibles. A policy deductible is the amount you must pay before your home insurance policy will respond. For example, if your $2,500 laptop is stolen and the claim is subject to a $1,000 deductible, you pay $1,000 and your policy will cover the remaining $1,500. The higher the deductible you select, the lower the premium you pay on your insurance.
Below are the various deductibles that may apply. It's important to note that only one deductible applies per claim even if payments are made under multiple policy coverages. The type of loss will determine the deductible that applies.
Earthquake: This deductible applies to each insured loss resulting from an earthquake. While earthquakes don't happen often, they cause significant damage when they do. As such, earthquake deductibles tend to be higher than those for other types of loss. Depending on where you live, you may be presented with a couple options.
Inland flood: This deductible applies to each insured loss resulting from an inland flood. If this deductible applies, you may be presented with a couple options. Please note that not all areas are eligible for inland flood protection.
Hail: This deductible applies to each insured loss resulting from a hailstorm. If this deductible applies, you may be presented with a couple options.
Comprehensive protection. At Square One, you get a comprehensive (all-risk) policy. That means you're protected against all types of loss, except for those listed in the exclusions. Commonly covered losses include break-ins, burst pipes, hailstorms, fires, and more. Commonly excluded losses include coastal floods, repeated leakage, and wear and tear.
For complete details on what is and isn’t covered, please refer to your policy wordings or download our sample wordings.Download sample policy wordings
Making a claim. You buy insurance for peace-of-mind, so if you do need to make a claim we believe it should be simple and stress-free. That's why all Square One customers are protected by our commitment to handling claims fairly: