Square One Insurance is, just like PolicyMe, a digital-first insurance provider in Canada specializing in providing customizable home and tenant insurance policies. Established in 2011, the company aims to modernize insurance by offering flexible policies that customers can tailor to their specific needs. It operates in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec.
Company Snapshot
- Name: Square One Insurance Services
- Phone: 1.855.783.5765
- Headquarters: Vancouver & Toronto.
- Founded in: 2011
- Provinces serviced: Square One provides policies to residences of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec.
In this review, we will take an in-depth look at Square you customers determine if it’s the right choice for their insurance needs.
Coverage Options
One of the key selling points of Square One Insurance is its highly customizable policies. Unlike traditional insurance companies that bundle coverage into standard packages, Square One allows customers to select only the coverage they need, potentially lowering premiums. This is a similar philosophy to Zensurance, another Canadian online insurance provider. Here are some of the coverage options available:
- Homeowners Insurance – Covers property damage, liability, and additional living expenses.
- Tenant Insurance (Renters Insurance) – Protects personal belongings and provides liability coverage.
- Condo Insurance – Covers personal property, unit improvements, and liability.
- Landlord Insurance – Protects rental properties and liability for landlords.
- Seasonal & Vacation Home Insurance – Offers coverage for properties used occasionally.
- Earthquake & Flood Protection – Available as add-ons, which is particularly valuable in high-risk areas.
Square One offers additional optional coverages for valuable items such as jewelry, bicycles, and electronics.
Pricing & Cost
Square One Insurance is known for offering competitively priced policies due to its flexible, pay-for-what-you-need approach. Monthly premiums for renter’s insurance start as low as $12 per month, while homeowner’s insurance varies depending on property value, location, and selected coverages.
The company provides instant online quotes through its website, allowing customers to adjust their coverage levels and immediately see price changes. Unlike some traditional insurers, there are no fees for policy changes, making it a convenient option for those who need flexible coverage.
Customer Experience and Reviews
Square One has over 5,000 positive reviews on Google My Business, which is huge. On other platforms, they have a mix of positive and negative customer reviews, reflecting different experiences with the company’s services.
Positive Feedback
Many customers appreciate the ease of use of Square One’s online platform. The ability to get instant quotes, adjust coverage in real-time, and manage policies digitally is frequently praised.
A customer from British Columbia mentioned:
“I found Square One’s website very easy to use. I was able to get a quote and purchase my policy within minutes. The flexibility in coverage was a game-changer for me.”
Additionally, the company has a high rating on its website, boasting an average score of 4.8 out of 5 stars from over 65,000 reviews.
Negative Feedback:
Despite the strong ratings, some customers have raised concerns, particularly regarding claims processing. Complaints often revolve around delays in claim settlements and difficulties reaching adjusters.
A Reddit user shared their frustration:
“It’s been over two months since I was able to live in my condo due to an insurance claim. Square One outsourced my case to a third-party adjuster, and communication has been terrible.”
Claims Process
Square One allows customers to file claims online, which can be convenient. However, based on user feedback, the efficiency of the claims process can vary.
- Pros: The digital claims process is straightforward and easy to initiate.
- Cons: Third-party adjusters are used for some claims, and customers have reported slow responses.
Square One states that most claims are processed quickly, but larger claims may take longer due to assessments and investigations.
Pros & Cons of Square One Insurance
Pros:
✅ Customizable coverage options
✅ Competitive pricing
✅ Easy-to-use digital platform
✅ No cancellation fees or policy adjustment fees
✅ High customer ratings on its website
Cons:
❌ Claims processing can be slow
❌ Outsourced claim handling may lead to poor communication
❌ Limited availability (only in select Canadian provinces)
Conclusion: Is Square One Insurance Right for You?
Square One Insurance is an excellent option for tech-savvy customers looking for a modern, customizable insurance experience. Its competitive pricing and flexible coverage options make it appealing, especially for renters and homeowners who want to avoid traditional one-size-fits-all policies.
However, potential customers should be aware of the mixed feedback on claims processing. If prompt claim resolution is a top priority, it may be beneficial to research alternative providers or ensure that Square One’s coverage meets their needs.
Before choosing Square One Insurance, consider getting multiple quotes and reviewing policy details to ensure you get the best coverage for your situation.
Square One Insurance FAQ
1. What is Square One Insurance?
Square One Insurance is a Canadian home insurance provider known for its flexible, customizable policies and digital-first approach. It allows customers to build personalized coverage online or over the phone, ensuring they only pay for the protection they need.
2. What types of insurance does Square One offer?
Square One primarily offers home insurance, including coverage for:
- Homeowners (houses and condos)
- Renters and tenants
- Landlords
- Secondary homes
- Vacation properties
- Specialty homes (e.g., mobile homes)
3. How does Square One’s home insurance differ from traditional providers?
Unlike traditional insurance companies that bundle multiple coverages into one standard policy, Square One lets you customize your plan so you only pay for the protection you need. This makes it more affordable and flexible compared to one-size-fits-all policies.
4. Is Square One a licensed and reputable insurance provider?
Yes, Square One is fully licensed across Canada and is underwritten by The Mutual Fire Insurance Company of British Columbia, a reputable insurer in the industry.
5. Which provinces does Square One operate in?
Square One offers coverage in most provinces, including:
- British Columbia
- Alberta
- Saskatchewan
- Manitoba
- Ontario
- Quebec (Coming soon)
6. Does Square One offer auto insurance?
No, Square One specializes in home and property insurance. If you need auto insurance, you’ll need to seek coverage from another provider.
7. How do I get a quote from Square One?
You can get a personalized quote by visiting Square One’s website or by calling their customer service. The process typically takes less than 5 minutes.
8. How much does Square One home insurance cost?
Pricing varies based on location, home value, coverage selections, and other factors. However, Square One is known for its competitive rates, with policies starting as low as $12 per month.
9. Does Square One have good customer service?
Yes, Square One has strong customer reviews, with high ratings on Google Reviews, Trustpilot, and the Better Business Bureau (BBB). Customers appreciate their fast claims process and straightforward online platform.
10. How does Square One handle claims?
Square One allows customers to file claims online or over the phone. A dedicated claims adjuster will assess the situation, request documentation, and process the claim quickly. Many simple claims can be resolved in a few days.
11. What does Square One’s home insurance cover?
Standard policies can include:
- Fire and smoke damage
- Water damage (e.g., burst pipes, leaks)
- Theft and vandalism
- Wind and hail damage
- Personal liability coverage
- Additional living expenses (if your home becomes uninhabitable)
12. Can I add extra coverage to my policy?
Yes! Square One offers add-ons such as:
- Earthquake coverage
- Sewer backup and flood protection
- Glass breakage
- Identity theft coverage
13. Can renters and tenants get insurance through Square One?
Yes, Square One provides tenant insurance, covering personal belongings, liability, and additional living expenses if needed.
14. Does Square One offer bundling discounts?
No, since Square One does not offer auto insurance, there are no bundling discounts available. However, their customizable policies often result in lower premiums compared to traditional providers.
15. Can I cancel my policy anytime?
Yes, Square One allows policyholders to cancel at any time without penalty. If you paid in advance, you may receive a prorated refund.
16. How do I contact Square One Insurance?
You can reach Square One through:
- Website: https://www.squareone.ca/
- Phone: 1-855-331-6933
- Email: support@squareoneinsurance.com
- Live Chat: Available on their website during business hours
17. Does Square One offer coverage for Airbnb or short-term rentals?
Yes! Square One offers landlord insurance and home-sharing coverage for Airbnb or other short-term rental arrangements.
18. Is Square One Insurance worth it?
For homeowners, renters, and landlords looking for affordable, flexible, and fully customizable insurance, Square One is a great option. It offers low premiums, a user-friendly online system, and a fast claims process, making it a solid choice for Canadians.
Final Recommendation
✅ Best for: Customers who want low-cost, customizable coverage with a seamless digital experience. ⚠️ Not ideal for: Those who prioritize fast and hands-on claims handling.
For more details or to get a quote, visit Square One Insurance.
Mark Turner is a retired financial writer that now enjoys blogging about different financial topics, such as commodities, inflation, debt, retirement, alternative investments and Canadian politics.
