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Get the facts on home insurance rate increases

Plus, learn how to save more

Home insurance and so much more

  • House

  • Cottage

  • Condo

  • Tenant

  • Landlord

Things we can cover

  • Property (your home)
  • Additional living expenses
  • Damages to others involved
  • Contents (your stuff)
  • Detached buildings & sheds
  • Home-based businesses
  • Identity theft
  • Trailers, watercraft, and more…

Talk to a broker to learn more

How to get the best rates

We reward smart, safe, and loyal customers with better rates. It’s our way of saying thanks for keeping our communities safe and for trusting us to take care of you when you need it most.

Ask your broker how to take advantage of our discounts

  • Claims-free or mortgage-free
  • Renewal discounts
  • Monitored fire alarms
  • More than one property insured
  • Installed security system
  • Bundled home and car insurance, and more…

Finding it hard to get insurance?

We can help — whether you’re having a tough time getting insurance because you’ve had several claims, you’ve had gaps in coverage or don’t currently have coverage, or you’ve had policies cancelled due to nonpayment. We are Canada’s leading special risk providers since 1968.

Ask your broker about special risk coverage

Why choose Economical?

Your satisfaction is our top priority, and it’s guaranteed. With a specialized team of more than 600 claims professionals on your side, you’re sure to get the service you deserve — 24 hours a day.

Learn about our service guarantee

Faqs

 

We consider several factors when determining your premiums, including:

  • The size and location of your home
  • Your home’s age, structure, heating sources, etc.
  • How many claims you’ve submitted in the past
  • Information about you (e.g., age)

A deductible is the amount that you agree to pay (out of pocket) for claims-related expenses before your insurance company pays for the remaining costs.

Let’s say there’s damage to your home and the total approved cost to repair those damages is $5,000. If you chose a $500 deductible when you purchased your policy, you would need to pay for the first $500 worth of expenses, and Economical would cover the remaining $4,500.

Tip: Choosing a higher deductible will lower your insurance premium. Just be prepared to pay for any costs up to that deductible amount when you need to make a claim.

We recommend reviewing your policy at least once a year, but there are certain times when you’ll need to contact your broker to officially update it:

  • When your address has changed
  • When you’re renovating or planning a construction project
  • If you’re starting a home-based business
  • When you acquire valuable belongings that require additional coverage
  • If your home becomes vacant

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