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Home Insurance

We hope you enjoy this guide to home insurance in Manitoba. In this guide you will learn typical home insurance rates, and tips on how to save on your premium.

What are average Home Insurance cost In Manitoba?

The chart above illustrates the average Renters and Homeowners Insurance premiums across several Canadian provinces. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.

Overall consumers spend less in Manitoba on Home Insurance than in number of other provinces because of a few reasons:

– No Earthquakes: Unlike British Columbia or Quebec, Manitoba is not known for its seismic hazards and that reduces insurance risks resulting in lower premiums.

– No history of Flooding: In 2013 both Alberta and Ontario were hit by severe flooding. Manitoba is not known for extensive flooding and that adds some confidence to insurers resulting in lower rates.

Nevertheless ultra-continental climate brings other natural challenges: very cold winters and tornadoes in the Southern Manitoba.

Cheap Home Insurance in Manitoba: 10 Tips

  1. Upgrade old heating systems: Forced-air gas or electric heat systems are safer than oil heaters. Upgrade old and outdated heating systems to save money on your premium.
  2. Avoid lead pipes: Insurers consider galvanized and lead pipes to be a big risk. Instead, install copper or plastic.
  3. Plumbing: Insulate your pipes to protect them during the winter. This can save you from a costly pipe burst.
  4. Renovations: Older homes cost more to insure if their components are worn out or outdated. Renovating your home can actually bring down your insurance costs, in some cases.
  5. Avoid aluminum Wiring: Aluminum wiring is a big fire risk. To get home insurance with aluminum wiring, you need a full inspection. If the inspection passes, your premium will still be very high.
  6. Water damages: Always learn if your home has suffered water damage before you purchase it. Water damage leads to ongoing issues.
  7. Annual vs. monthly payments: It costs less for your insurer to process annual payments, so they offer discounts for those that pay yearly instead of monthly.
  8. Stop smoking: Due to the added fire risk, some insurers have higher premiums for smokers. Stop smoking to save on your premium, and for your health.
  9. Business insurance when working from home: If you work from home but do not have significant assets in the residence, home insurance may be cheaper than business insurance.
  10. Bundle: You can save if you bundle your home and auto insurance with the same provider.

5 Elements that will increase your Home Insurance costs

  1. Oil heaters: Oil heaters are environmental and fire hazards. Upgrade to forced-air gas or electric to save money on home insurance.
  2. Fireplaces and woodstoves: Like oil heaters, fireplaces and woodstoves pose a fire risk.
  3. Building frame: Concrete and brick homes suffer less fire and element damage than wood frame homes, so they can be cheaper to insure.
  4. Roof materials: The more durable the shingles (such as metal) the less risk of damage to the roof and home. Insures prefer durable roof cladding over less secure materials like wood.
  5. Expensive items: You may need a rider to cover expensive items like jewelry, art collections, wine collections, and musical equipment. Such items can be over the limit of your contents policy.

Several Manitoba-Specific Home Insurance Tips

  • Earthquakes: Manitoba is not known for its strong earthquakes like e.g. British Columbia. You might want consider not taking earthquake protection saving a bit on insurance costs.
  • Flooding: Overall Manitoba is not really endangered by extensive floodings but still keep eyes open. For example, fast melting of large snow masses can lead to overland flooding as well.
  • Cold temperatures: Manitoba’s winters though can be quite cold – make sure that your pipes are well isolated. Make sure outdoor pipes and hoses are dry and do not offer any opportunities for ice building.
  • Tornadoes: This danger persist in the southern part of Manitoba due to its ultra-continental climate. Make sure that you are covered in case of damages caused by Tornadoes.
  • Sewage backup: That option is often not covered in many policies but rather offered as an optional coverage (also called insurance rider). Consider adding it to your policy to stay insured against any plumbing-related accidents

Manitoba Home Insurance quotes, examples

Manitoba home insurance quote #1: Homeowners house insurance in Winnipeg for a 1-storey detached house with no basement and no garage located on Jubilee Ave.

Price: $62 per month ($744/year)

Manitoba home insurance quote #2: Homeowners insurance for a 1.5-storey detached house in Thompson, 1,200 sq. ft, fully finished basement, built-in garage for 2 cars, located next to the intersection of Westwood Dr and Manasan Dr.

Price: $141 per month ($1,696/year)

Manitoba home insurance quote #3: Homeowners insurance for 1-storey detached house under 1,000 sq. ft in Dauphin, no basement, built-in garage for 1 car, new roof, brick frame, located near Henderson Elementary School.

Price: $86 per month ($1,032/year)

5 Home Insurance Myths to Know

Myth #1: Homeowners Insurance is mandatory

Many people think that homeowner’s insurance, like auto insurance, is mandatory, but this is not the case. Home insurance is required if your landlord asks you to get renter’s insurance, or your lender makes it a condition of the mortgage. If you own the home free and clear, home insurance is recommended, but not mandatory.

Myth #2: Claims will always increase my premium

Some insurers offer penalty-free first claims, or simply remove the zero claim discount.

Myth #3: Sewer backup is automatically covered

Water that enters from outside the home, as is the case with sewer backup flooding, is not usually covered unless you purchase a rider. Always check with your insurer to see if you need a rider for this very expensive risk. The cost of coverage is far less than the cost of dealing with the damage out of pocket.

Myth #4: Insurance is cheaper for older, less expensive homes

If the older home has worn out shingles, oil heating, aluminum wiring, water damage, etc., insurance will be more expensive. Older homes must be maintained and upgraded to save money on home insurance.

Myth #5: Acts of God and natural disasters are excluded

Did you know there is no such thing as an Act of God exclusion? Additionally, most policies cover some natural disasters, such as hailstorms, and offer optional riders for others, like earthquakes and overland flooding.

Home Insurance companies in Manitoba

There are many P&C (Property and Casualty) home insurers in Manitoba including:

  • SGI (Saskatchewan Government Insurance)
  • Intact Insurance
  • TD Insurance (owned by TD Bank)
  • Aviva
  • RSA Insurance
  • Economical Insurance (includes Sonnet Insurance)
  • Desjardins Insurance

Mid-size insurers include:

  • Saskatchewan Mutual Insurance Group
  • Square One Insurance
  • RBC Insurance (as Aviva)
  • Travelers
  • Gore Mutual Insurance
  • CAA Manioba
  • The Co-Operators
  • Wawanesa Insurance
  • My Mutual Insurance Ltd
  • Several others

You have several options as to where you purchase your home insurance. It is available through insurance companies, agents, brokers, and some banks.

Please note that MPI (Manitoba Public Insurance), a crown corporation that offers car insurance, does not offer Home Insurance.

Through our partners, we can offer home insurance quotes in  Manitoba  including but not limited to these locations: Winnipeg, Thompson, Brandon, Dauphin, Flin Flon, Winkler, Morden, Portage in Prairie, Steinbach, Selkirk, The Pas, Minnedosa and others.

As with other locations across Canada, the cost of home insurance in Manitoba is dependent on several factors, including what type of dwelling you need to insure.

  • Tenant insurance: Covers contents and sometimes includes coverage for liability
  • Homeowner insurance (condo): Covers your unit, covers upgrades to your unit’s interior, and covers liability
  • Homeowner insurance (house): Covers the rebuilding cost of the dwelling, the grounds, the contents, liability, some natural disaster risks, and has optional riders for more specific or drastic risks like earthquake and landslides.

Sometimes the cheapest policy comes from the insurer that specializes in a specific area. For example, some work with seniors; affiliated members of various organizations such as CPA, CAA, etc.; geographic locations; types of buildings; or specific risks. In order to find the cheapest home insurance, get quotes from as many insurers as possible and understand exactly what they offer (level of coverage, deductibles, coverage exclusions, etc.). Our insurance professionals will help you find quotes and answer your questions.

The cost of your home insurance in Manitoba will depend on what type of home insurance you require.

  • Tenant insurance, also called renter’s insurance, is usually the cheapest premium. It can be as low as $20/month.
  • Homeowners insurance for a condo is not very expensive because it only covers your condo unit, storage locker, and liability. You typically pay around $20-$50/month.
  • Homeowners insurance for a house can start at $50/month and go as high as several hundred dollars per month. The costs depend on the size of the home, the proximity to risks (such as flooding if near a lake), the condition of the property and outbuildings, the condition of the home, etc.

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