Home Insurance in Saskatchewan

Get reliable home insurance coverage tailored to you with Brokerlink.

At BrokerLink, we help thousands of Saskatchewan homeowners every year find the right coverage. Whether you're located in Saskatoon, Regina, Moose Jaw, Prince Alberta, or a rural community, our local brokers understand the unique risks your community faces, helping customize a home insurance plan that fits your needs and budget.

BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.

What is home insurance?

Home insurance is a type of coverage specifically designed to protect your home and personal belongings. It's a legal agreement you make with an insurance company. In exchange for a monthly fee, also known as an insurance premium, the insurance company you choose agrees to provide financial assistance in the event your home is damaged, your personal items are lost or destroyed, or legal liabilities occur on your property.

At its core, Saskatchewan home insurance covers the following:

The structure of your home: Including your walls, roof, windows, doors, and foundation from physical damage.
Your belongings: Including your furniture, appliances, clothing, electronic devices, and other personal items stored in your home.
Liability coverage: If someone injures themselves on your property, or if you accidentally cause damage to another person's property.
Additional expenses: In case you are forced to leave your home due to safety risks following a covered claim.

Why do you need home insurance?

Saskatchewan home insurance isn't legally mandatory like car insurance. However, without it, even a single incident could set you back financially for decades. If you have a mortgage on your home, or are a first-time homebuyer, your mortgage lender likely requires that you show proof of home insurance before your loan is approved. This not only protects their investment but will come in handy should the unexpected happen on your property.

Types of home insurance policies for Saskatchewan homeowners

Saskatchewan home insurance will differ depending on your individual needs. However, when purchasing standard coverage, you'll typically find the following four mandatory insurance policies always included. Beyond the four standard insurance policies, you may also want to consider adding optional coverages to your plan to supplement your protection and peace of mind.

Dwelling insurance covers the actual construction of your house, including the roof, windows, walls, foundation, and any detached buildings on your property. If a covered peril causes structural damage to your residence, the dwelling section of your homeowner's insurance plan will pay for the cost of restoring it to its former state or rebuilding your home from the ground up. Common perils listed in this policy include:

Fire
Lightning
Smoke
Theft
Wind
Car/aircraft impact
Explosion
Falling/flying objects

Keep in mind that the covered perils listed in your policy may differ depending on your insurance provider. Make sure to carefully read over your policy documents to confirm whether coverage gaps exist.

You work hard for your belongings. With contents insurance, you'll have peace of mind that your items are covered if your belongings are stolen or lost from your property as a result of a covered peril. Most of the time, the covered perils listed in your contents coverage will be the same as the ones outlined in your dwelling insurance. But, you'll want to double-check this with your Saskatchewan home insurance company.

Liability coverage protects homeowners from any potential issues that may arise on their property, whether it's an injury or third-party property damage. For example, let's say one of your child's friends injures themself while jumping on your trampoline. The parents of the child have the legal right to sue you for costs, which, depending on the severity of the injuries, can be expensive. With liability protection, any medical expenses, legal fees, repairs, replacements, and settlement funds.

If your house is damaged by a covered risk and is no longer safe to live in, additional living expenses will cover lodging, food, and transportation costs. For instance, if the house floods due to a burst pipe or a fire starts in the kitchen, this coverage ensures you're not left financially liable for additional living expenses during this time.

Sewer backup insurance policies are especially important for communities across Saskatchewan, given the frequency of heavy rainfall, spring thawing, and aging infrastructure, which can all overwhelm municipal sewer systems. When water and sewage back up into your home through your drains and toilets, the damage can be expensive, ruining everything from your furniture, flooding, walls, your personal belongings, and more.

Overland flood coverage protects your home from damage caused by water entering your property during spring thawing, heavy rainfall, or flooding of nearby rivers or lakes. In Saskatchewan, melting snow combined with spring runoff often overwhelms drainage systems, leaving basement suites and homes near bodies of water at risk. Adding this insurance policy to your standard Saskatchewan home insurance plan ensures your home is safeguarded against unpredictable water damage year-round.

Property theft in Saskatchewan can happen to any homeowner, no matter where you live. If your home is broken into and personal identification documents like birth certificates, banking details, driver's licenses, and other important documents are stolen, identity theft coverage will cover the cost of recovery efforts and replacing your stolen documents.

Fire
Lightning
Smoke
Theft
Wind
Car/aircraft impact
Explosion
Falling/flying objects

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Ways to save on home insurance in Saskatchewan

While home insurance is an added expense for homeowners, it doesn't mean you can save money where you can, without sacrificing your protection. Here are some helpful ways you can save on home insurance premiums for your home:

Discounts

Ask about the home security discount

To reduce your risk profile and avoid property theft, look into buying safety devices such as motion-activated lights, surveillance cameras, and alarm systems. Additionally, installing a backwater valve and sump pump in your older property with outdated plumbing, or your new property with a renovated basement suite, can help you avoid sewage and water damage, thereby lowering your risk profile.

Remain claims-free discount

One of the most straightforward ways to keep your costs down is to avoid filing claims. You'll need to take good care of your home all year. Cleaning your rain gutters, getting your plumbing and electrical systems examined every year, and implementing safety precautions are all things that will help you avoid your first claim and keep your insurance rates low in the long run.

Pay for your home insurance upfront

Most insurance policies paid for over the year, rather than upfront, will have a fee attached to their premiums. As your payment is processed 12 times throughout the year, each payment that needs processing costs your insurance company money (think labour and administrative fees). To avoid this surcharge, consider paying for your home insurance in one go if you can afford to do so.

Bundle your home insurance, car insurance, & other policies

If you have car insurance and other insurance policies already, you can benefit from bundling these policies with your home insurance at the same company. By bundling your plans with the same provider, you can potentially save up to 15% on each policy--that's a lot of money!

Increase your deductible

As we mentioned, increasing your deductible can lower your insurance rates, but it means you need to pay more out-of-pocket if you have to file a home insurance claim. Only choose this option if you can comfortably afford to pay more.

Savings Options

Compare home insurance quotes from several insurers

Insurance companies in Canada have various assessment guidelines, so what you're charged for homeowners insurance at one company could differ from what you're quoted by another.

What does this mean? You can benefit from searching online and comparing home insurance estimates from a minimum two providers to find the best rates available and the right coverage for your insurance needs.

Review your coverage options annually

When it's adding an addition to your home, installing a new security system, or purchasing a new high-ticket collectible, your home insurance needs can change numerous times throughout the year. To avoid paying for coverage you no longer need and to prevent coverage gaps, make sure you review your home insurance policy annually.

Work with an insurance broker

Insurance brokers in Canada work independently from insurance companies. This provides them access to numerous home insurance policies from multiple providers, allowing them to help you shop around, compare rates, and find the best price for your home insurance available. The best part of all? Brokers don't charge a fee for their services!

Factors affecting Saskatchewan home insurance costs

From heritage homes to modern condos and townhomes, no two properties across the province are the same, and neither are Saskatchewan home insurance rates. Insurance providers use many different factors to determine your risk profile as a customer. If you're deemed a high-risk customer, you'll pay more for your insurance than someone who's considered low-risk. Understanding what these factors are and how they affect your rates can help you make an informed decision about your home insurance coverage:

Home age and current condition

The current state and age of your house can have a significant impact on homeowner's insurance rates. For example, if you live in an older home in Moose Jaw, Saskatoon, or Regina, particularly one built before the 1970s, you probably have dated pipes and tube electrical systems, which could affect your level of risk. Similarly, homes that have been neglected over the years can also increase your insurance premiums.

On the other hand, if you live in a high-value home or a newly built construction, the replacement cost of your house may be higher than these older properties, which again, can boost your premiums.

Claims history

Customers who have filed several insurance claims are more likely to be classified as high-risk customers since they are far more likely to submit another claim in the future. On the other hand, fewer claims or no claims at all on your file will result in lower premiums throughout the years.

Location

Location plays a major role in determining Saskatchewan home insurance rates. Insurers assess specific risks tied to your property, such as how close it's located to a body of water, dense trees or grasslands, or dense urban neighbourhoods with higher theft rates. Even if you live in the same community, home insurance premiums can still vary. Ultimately, your address gives insurers insight into how likely you are to file a claim. The higher the local risk, the more you'll pay for your insurance policies.

Security features

Homes, whether old or new, that are equipped with security features like sump pumps, backwater valves, alarm systems, water detection devices, and video cameras are often quoted more affordable rates for coverage compared to properties more exposed to risks.

Coverage options and deductibles

The more Saskatchewan home insurance you buy, the more it will cost you. But, the way most homeowners see things, while purchasing higher coverage limits and optional coverages may increase their costs, it also provides more peace of mind in return.

Opting for a higher deductible, which is the amount you owe to your insurer when filing a home insurance claim, can lower your monthly premiums. But you will need to take on more of a financial burden in the event that something happens to your home. In contrast, opting for a lower deductible will save you from having to pay more out of pocket when filing a claim, but it can increase your premiums.

Additional information you should know

Home insurance solutions in Saskatchewan are as diverse as the homes and homeowners across the province. Here's some additional information we think you should know:

Seasonal homes

If you own a seasonal property at Last Mountain Lake or along the northern fishing spots, you're at risk of frozen pipes, snow load damage, and burglary. But with a seasonal cottage insurance plan, you can protect your secondary home, even when it's not occupied for extended periods.

High-value homes

Custom homes with high-end finishes, smart technology, or important materials often require specialized insurance endorsements for extra protection. Policies like high-value items coverage ensure your luxury items can be fully repaired or replaced, which a standard plan may not be able to do.

New construction properties

If you're building a home in Saskatoon or in one of the many thriving and growing communities in Regina, insurance will be needed before you start your build. Reach out to BrokerLink to learn more about construction coverage, so your investment remains safe from day one.

What home insurance does not cover

While home insurance does a great job in protecting the interests and finances of homeowners, some things aren't covered, including:

Intentional harm to property or persons.
Claims that arise from criminal activities.
Aging infrastructure and lack of maintenance.
Mould and mildew growth (unless it occurs as the result of a covered claim).

How to file a home insurance claim

Filing a claim with your provider can be stressful, especially when it's your first time. If you ever find yourself in the position where a claim is needed, here's what you need to do:

Contact your insurance provider and report your claim.
Take photos and videos of the damage.
Write a list of items that have been damaged or stolen.
Submit your documents to your adjuster.
Get a restoration or replacement quote.
Have the estimate approved by your adjuster.
Undergo home repairs.
Get reimbursed for costs.

Have questions about your claim? Contact a claims specialist from BrokerLink today!

Contact BrokerLink in Saskatchewan today for a free home insurance quote

A home is more than four walls. Insure what matters most to you with customized insurance plans you can count on. Whether you're located in Saskatoon, Prince Albert, Regina, Moose Jaw, or other areas of the province, BrokerLink will help you shop around, qualify for discounts, answer your questions, and find a plan that fits within your budget.

From home-business insurance to tenant insurance, landlord coverage, and more, we've got a plan waiting for you when you're ready. To work with BrokerLink, give us a call directly over the phone or by email.

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FAQs

Have questions? Our FAQ section has the answers you're looking for. Find helpful information to guide you through your options.

Is home insurance mandatory in Saskatchewan?

No, home insurance in Saskatchewan is not legally mandatory the same way car insurance is. However, most homeowners opt for coverage regardless, seeing as their homes are one of the biggest investments they have. At the same time, if you have a mortgage on your property, you're likely required to hold valid home insurance as a part of your mortgage agreement.

What’s the difference between market value and replacement value?

Market value refers to what your property could sell for today, including your home and the land itself. Replacement value is what it would cost to rebuild your home with similar materials and labour. Home insurance is based on the replacement value of your residence.

How much personal liability should I have?

Most home insurance policies start with $1 million in liability insurance, but homeowners in Saskatchewan often opt for $2 million for added peace of mind. Given the rising costs of attorneys' fees across Canada, higher limits may be worth the added expense.

Does my policy cover flooding or sewer backup?

Standard home insurance does not automatically cover flooding or sewer backup. However, the option to add these optional coverages to your standard home insurance plan in Saskatchewan is available and recommended if you live in an older property with a basement suite, in a low-lying flood zone, or near a natural body of water.

Can I insure my rural property or farm home?

Yes, tailored coverage is available at most home insurance companies for rural and farm dwellings. With standard and optional policies available, homeowners can work with a broker to find the right policies and the right amount of coverage to ensure their home is comprehensively protected against all types of unforeseen risks.