Is home insurance mandatory in Canada?

No, home insurance isn’t mandatory or required by law in Canada. But, it’s really in your best interest to have it. Why? Because homeowners insurance is there to repair or replace your damaged property – and your stuff – if something happens, like a fire, windstorm, or hail.

If the worst does happen and you don’t have property insurance, it’s your responsibility to cover the costly bills to repair or even replace your home and other buildings on your property (like your garage).

Your home insurance policy also covers your personal belongings. Plus, it provides personal liability coverage – which you’ll need if you’re sued for accidentally damaging someone’s property, or if you injure someone (also accidentally). And let’s say you can’t stay in your house because it’s been damaged by a covered event (like a fire). Home insurance provides you with a place to stay temporarily, and covers the cost of certain extra expenses (like food) during that time.

If you don’t own your home outright, your mortgage lender will also almost certainly require you to have home insurance.

Have more questions about home insurance? We’re here for you! Just reach out to us via chat or email. We’re happy to answer your questions about coverage, billing, and more.