Square One Insurance: What you need to know & how it works
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Who is Square One Insurance?

Matt Hands, VP, Insurance
On January 5, 2011, a team of insurance professionals launched their own insurance brokerage. Disposing of the old-fashioned methods of home insurance, Square One would service customers over the phone and online to keep overhead costs low. They eliminated unnecessary complexities of a home insurance policy and made it convenient, fast, and inexpensive.
They sell home, condo, and renter’s insurance, as well as some specialty property coverage for clients in BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. They also are now offering car insurance in Ontario and Quebec.
Why should I choose Square One Insurance?
A big reason to consider a Square One policy is the control they give you over selecting personal property and specialty coverages. It's about personalization when crafting a policy with Square One. Instead of paying for insurance you don't understand or add-ons you don't need, you only pay for what you want. Not that their base policy isn't comprehensive, in fact their standard comprehensive home insurance policy covers more than most traditional insurers. For instance, most home insurance policies only offer flood insurance for a burst pipe. Square One's policy includes overland flooding and sewer backup coverage automatically.
They have a digital platform for facilitating home insurance quotes and processing claim submissions. You can reach one of their insurance advisors 24/7 or connect instantly via their webchat. There's also a guaranteed 2-hour response time for emergency claims, and you can even track your claims process online. Finally, they don't lock you into a year-long fixed-term contract, you can change your policy as needed, or cancel anytime if you're unhappy.
How Square One home insurance works
A standard comprehensive homeowner insurance policy insures your property. It includes your house, detached structures (e.g. shed, fence), contents insurance for your personal belongings (e.g. laptops, bicycles), and additional living expenses. Additional living expenses pay for you to live elsewhere if your house needs to be repaired after an insured risk becomes a reality.
There's also liability insurance for when someone injures themselves on your property or in case you damage someone else’s property, like if your child throws a baseball through a neighbour's window.
Square One also includes, at no extra cost, protection against break-ins, fires and windstorms. They’ll also give you identity theft protection that helps to cover the unfortunate resulting financial losses.
Square One also provides optional home insurance coverages such as legal protection, which gives you access to legal advice via telephone. Furthermore, you could add rental income coverage, which replaces any lost rental revenue due to an insured loss.
How Square One condo insurance works
A standard comprehensive condo insurance policy insures your property similar to a home insurance policy, but with a few less coverage options or needs, and due to the size of the property being insured is generally cheaper than a standard home policy.
A condo policy can include coverage for your home/unit (keep in mind the coverage will vary by type of condo you have), contents insurance for your personal belongings (e.g. laptops, bicycles), additional living expenses, and personal liability insurance. Important to understand that:
- Additional living expenses pay for you to live elsewhere if your house needs to be repaired after an insured risk becomes a reality.
- Personal liability insurance provides compensation and protection for when someone injures themselves on your property or in case you damage someone else’s property, like if your child throws a baseball through a neighbour's window.
Square One also includes, at no extra cost, protection against break-ins, fires and windstorms. They’ll also give you identity theft protection that helps to cover the unfortunate resulting financial losses.
Square One also provides optional coverages such as legal protection, which gives you access to legal advice via telephone. Furthermore, you could add rental income coverage if you are using your condo as an income property, which replaces any lost rental revenue due to an insured loss.
Lastly, another great feature from a Square One condo insurance policy is their Condo Owner’s Protection, which safeguards against shortfalls in your condo corporation’s insurance, and protects upgrades made to your unit.
How Square One tenant insurance works
A standard tenant insurance policy includes liability protection in case someone injures themselves in your rented apartment or if you damage someone else’s property. It also covers your personal property (i.e. contents insurance), for “moveable” property you own like appliances, household goods, electronics, furniture, and clothing.
Contents insurance doesn’t typically protect specialty property like bicycles, sporting equipment, jewellery, fine art, or your landlord’s property. Instead Square One insurance does it differently by allowing you to decide what specialty property you would like to insure and for how much. You also choose how much protection you want for everyday items like appliances and furniture with a cheaper-than-normal $250 deductible (the amount you pay before the insurer pays the rest).
Square One's tenant insurance gives you additional living expenses, which pays for you to live elsewhere if your home has experienced a significant insured loss. They also provide you with ID theft protection and the potential financial losses that could arise from it. Lastly, you even have access to unlimited legal advice via telephone relating to your tenant insurance policy.
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Other Square One Insurance products
- Rental property insurance
- Vacation property & cottage insurance
- Specialty property (e.g. jewellery, rare art, bicycles)
- Business property
- Identity theft insurance
- Rental income
- Broad water damage insurance
- Earthquake insurance
- Fire insurance
- Flood insurance (including sewer backup, overland water)
- Wind & hail storms
- Glass damage
Square One Insurance FAQs
Does Square One provide car insurance?
Yes, Square One offer car insurance in Ontario and Quebec.
Who owns Square One insurance?
Square One insurance represents the Mutual Fire Insurance Company of British Columbia.
Is Square One an insurance brokerage?
Square One Insurance Services is an insurance agency serving British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. They’re an authorized agent to issue, bill, and service policies on behalf of the Mutual Fire insurance Company of British Columbia.
Who underwrites Square One Insurance?
Square One insurance policies are underwritten by the Mutual Fire Insurance company of British Columbia, founded in 1902. They are a member of the Property and Casualty Insurance Compensation Corporation (PACICC), so if any insurance company fails, PACICC will respond to your claim.
Is Square One insurance good?
Customers have given Square One Insurance a 4.3 rating out of 5 stars, and 67% of policyholders indicated they are likely to renew their policy. One of the most impressive statistics is that 100% would recommend Square One insurance to a friend.
Is Square One Insurance legit?
Square One has an A+ rating from the better business bureau (BBB) since 2012. The A+ rating has been given to them based on their tenure and few complaints.
How do I contact Square One insurance customer service?
Square One agents are available at 1.855.331.6933 or by email at [email protected]. For claims, call 1.855.331.6933 or email [email protected]. All claims are handled by a single adjuster, making the process much easier and more personalized.
Can you bundle Square One insurance products?
Yes, you have the ability to bundle multiple products with Square One and unlock discounted rate savings on your premiums. The most common bundle products is home and auto insurance, but you could bundle multiple home products or auto policies - there are a lot of combinations that can be considered.