Compare Fredericton home insurance quotes
In 5 minutes or less, compare Fredericton home insurance quotes from some of Canada's top providers for free.
Matt Hands, Sr. Business Unit Director
Home insurance in Fredericton, NB isn't required by law, but your lender requires it, and it's just a good idea for peace of mind. So, whether you’re in a single-family house in the North Side, a condominium in downtown Fredericton, an apartment in Forest Hill, or a mansion on Market side, there is coverage for wherever you call home.
There are 3 main types of coverage - comprehensive, broad, and basic. The overwhelming choice for the people of Fredericton is a comprehensive home insurance policy. This is mainly due to the fact that the difference in costs between the different policy types is minimal and some financial institutions will only offer a comprehensive policy. Also, a comprehensive policy provides you with the highest level of protection. Here’s a breakdown of the three different types of home insurance policies:
Also known as named perils, is the cheapest option, but will only cover the specific risks you choose. A peril is a certain risk that may damage your home or property. For instance, you may choose “Fire or Lightning” as a peril, to protect your home from fire or lightning, but if a thief robs your home, there would be no coverage
Covers the physical structure of your home and contents for risks of direct physical loss or damage, but there are some exclusions. It only insures your contents for specifically named perils or risks such as a flood.
The most inclusive policy covering the building and its contents from all risks, except for some optional coverages such as sewer back-up, earthquakes, or overland water. More detail below.
Step 1: Share some information
Tell us a little about yourself and your house insurance needs
Step 2: Compare the rates
We instantly show you dozens of quotes side-by-side from the best home insurance companies in Fredericton
Step 3: Save money
Choose your quote and secure your new rate online or via one of our licensed agents
Many factors go into calculating your Fredericton home insurance quotes. Details like your home's age, the likelihood of flood, or theft based on your location, and other basic construction details allow a Fredericton home insurance broker or an agent to properly assess risks and determine the probability of something going wrong. The more risks with your property, the higher your Fredericton home insurance rates will be. Below are the key 11 factors home insurance companies look at before providing a quote.
Renovations & betterments
Past claims history
Pool and other accessory dwellings
How much is home insurance in Fredericton?
The average cost of home insurance in Fredericton ranges between $200 to $600 depending on the type of property and its location. Use our Fredericton home insurance calculator to get your quote.get started
Coverage for damages caused by perils such as fire or lightning, depending on your chosen policy. It covers your dwelling (home) and any attached structures, such as a garage or sun deck. It also includes coverage for swimming pools and permanently installed outdoor equipment, like a children's playset.
- Coverage amount: Replacement cost of your home
- Included: Yes
Detached private structure(s)
Coverage for damages caused by perils such as windstorms or hail for any privately detached structures you have on your insured premises; such as a tool shed, detached garage, or pool house.
- Coverage amount: 10% - 20% of replacement cost
- Included: Yes
Your personal property or contents are covered including appliances, furniture, clothing, and electronics. Jewellery, artwork, or other specialty items may require extra coverage, so inform your insurer.
- Coverage amount: 70% - 80% of replacement cost, varies depending on depreciation.
- Included: Yes
Additional living expenses
Will provide you with the means to cover the costs of living away from your home for a period of time due to an insured loss (i.e. a loss caused by an insured peril such as flood or fire).
- Coverage amount: 20% - 30% of replacement cost
- Included: Yes
Shop around and compare
We take the work out of monotonous phone calls and visits to many different brokerages repeating the same information over and over. By entering your information, we can give you several home insurance quotes from Canada’s top home insurance providers in minutes.
Fredericton insurance companies often give a 20-25% discount to consumers who get both their home and auto insurance from them.
Monitored alarm systems
If you have a centrally monitored alarm system installed, you could receive a 5-10% discount on house insurance in Fredericton This typically does not include your own cameras and motion sensor lighting. To get the discount, you must have a central station that protects your home.
Increase your deductible
Increasing your Fredericton home insurance deductible from a standard $500 to $1,000 or $2,000 will bring down your premiums. Just make sure you can afford the higher deductible should you need to make a claim.
Upgrading known risks like knob & tube to copper wiring or plumbing from iron and steel to plastic and copper you could see a reduction in your premiums. However, if you build an addition or add expensive finishes you’ll likely pay more
Ask about discounts
A new job may mean union membership, group discounts, or corporate discounts. A retiree may also save on home insurance. A yearly review is recommended to see and ask what discounts may apply to you as things change.
Stay with your home insurer (loyalty)
The longer you stay loyal to your home insurance provider, the more they’ll reward you with discounts, especially if you remain claims free.
Improve your credit score
If your insurer monitors your credit score, be sure to pay your bills on time. Subscribe to a credit monitoring service and take some time to learn how to get the best credit score possible.
better choices made
to Canada’s top financial institutions
How do I get the best home and car insurance in Fredericton?
What is a home insurance peril?
How do Fredericton home insurance claims work?
What is a home insurance deductible?
What is not covered by Fredericton home insurance?
Is there a charge to switch home insurance providers?
Matt Hands, Business Director of Insurance
With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read more
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.