Insurance cost in your expenses
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Available and affordable
Compared to other expenditures, the average Canadian pays less for insurance on a monthly basis than they do for their cellphone and internet bill2.
In 2013, Canadians spent an average of $191 per month on communications services (up 3.2% from 2012)2:
Wireless: $69.33
Internet: $35.37
Cable and other television services: $53.56
Wireline telephone: $32.85
The Canadian average monthly premium to protect your home and its contents is $51/month. The percentage of household income taken up by shelter and accommodation is just over 40% per year3. To protect your biggest investment, home insurance represents less than 1% of an average Canadian family’s yearly expenditures.
We are fortunate to live in a country where we can purchase comprehensive protection for one of our biggest investments at a very reasonable cost. For an annual cost that is less than a latte a day, you are protected for your:
- Home
- Contents
- Loss of use (additional living expenses)
- Liability insurance for accidents that may happen at your home
You are also protected from severe weather events such as:
- Hailstorms
- Fire
- Wind
- Lightning
- Tornadoes
In addition, as an Intact Insurance customer, many homeowner policies include coverage for:
- Personal Liability – minimum of $1 million
- Contents for your children when they are away at school
- Outdoor trees, shrubs, plants and lawns
- Personal property when it is temporarily away from your premises
- Moving your personal property to another home
- Additional living expenses
- Loss of food stored in a freezer
- Debris removal
- Fire department charges
- Inflation protection
- Lock repair and replacement
- By-laws coverage
- Watercraft
- Buildings, outbuildings and contents
- Guaranteed replacement cost
Did you know?
The average monthly bill for wireless services is higher than the average premium to protect your home and contents.
Get a home quote now!