Canadian News and Stats

Best home insurance in B.C., 2026

B.C. doesn't regulate home insurance prices, so there is no public list of who charges least. We compared home, condo and tenant insurers on financial strength ratings, customer surveys and earthquake cover, and set out what B.C. households pay and what floods, wildfires and strata deductibles mean for your policy.

By Canadian News and Stats insurance desk Published Updated 50 sources

Our picks

B.C. doesn't regulate home insurance prices. The BC Financial Services Authority (BCFSA), which supervises insurers, says rates in the private market are set by competition, not by government.1 So nobody can tell you which insurer is cheapest for your home. These picks rest on records you can check: financial strength ratings, published customer surveys and what each insurer says about earthquake and flood cover. Get at least three quotes for the same coverage, deductibles and earthquake limits before you compare prices.

  1. Best overall

    Intact Insurance

    Intact calls itself Canada's largest property and casualty insurer.2 AM Best rates its financial strength A+, the highest rating among the insurers in our table, affirmed in May 2026.3 Ipsos named it one of the top performers in its 2025 survey of 18,000 Canadians about their insurers.4 Its B.C. underwriting manual sets earthquake deductibles of 15%, 17%, 20% or 25% of the insured amount, and the two lower options may not be offered in higher-risk areas such as Vancouver Island.5 Intact sells through more than 2,000 broker relationships across Canada.6

    A+AM Best rating, affirmed May 2026
  2. Top-rated by customers in Western Canada

    BCAA

    BCAA ranked first in Western Canada in J.D. Power's last Canadian home insurance study, with 800 points, ahead of Co-operators (779) and TD Insurance (749). That study is from 2019.7 Ipsos's 2025 survey named CAA the clear advocacy leader, but it reports CAA as one brand, so it can't show how BCAA's own customers scored.4 BCAA says its advisors, call centre and 24/7 emergency teams are based in B.C.8 Its earthquake add-on can go on home, condo and renters policies and covers aftershock damage for seven days after the first shake.9 BCAA Insurance Corporation underwrites its home policies; we found no public financial strength rating for it.9

    800J.D. Power 2019, first in Western Canada
  3. Best for renters and earthquake cover

    Square One

    Square One is based in Vancouver.10 Most insurers sell earthquake cover as an add-on; Square One includes it on all its home insurance policies.11,12 Its tenant policies start at $15 a month, with standard deductibles from $250 to $5,000.10 For a B.C. house insured for $300,000, it says earthquake cover costs $225 to $515 a year.12 The Mutual Fire Insurance Company of British Columbia underwrites its home policies.12 Square One does not appear in the J.D. Power or Ipsos results, and we could not confirm a current financial strength rating for Mutual Fire.

    $15Square One tenant policies from, per month
  4. Best with an advisor

    Co-operators

    Co-operators came second in Western Canada in J.D. Power's 2019 study, with 779 points.7 AM Best rates it A.13 Its Comprehensive Water add-on is open to owners and renters, condos included,14 and it sells earthquake cover as an add-on. It warns that buyers in some higher-risk areas face higher premiums, deductible changes and even a reduced ability to get earthquake coverage.11

    AAM Best rating; 779 in J.D. Power 2019
  5. Most open about price

    Sonnet

    Sonnet is the only insurer we checked that publishes what its own B.C. customers pay. It lists average home premiums of $122 a month in Vancouver and $119 in Surrey, without saying how it worked them out.15 Across Canada its median is $1,401 a year for a house, $520 for a condo and $382 for a tenant policy.16,17,18 You buy online, and it lists earthquake, overland water and sewer backup as optional coverages.15,16 Ipsos named it a 2025 top performer.4 Its parent company, Definity, holds an AM Best A.19

    $122Sonnet's average a month for a Vancouver house

How the big home insurers compare in B.C.

The table covers nine brands that sell home, condo and tenant insurance in B.C. We found no public source that ranks B.C. home insurers by market share or by complaints. The last column shows what each insurer's own pages say about earthquake and water add-ons. Whether it will sell you overland flood cover depends on your address.

InsurerFinancial strengthCustomer surveysEarthquake and water add-ons
Intactthrough brokersAM Best A+3Ipsos 2025: top performer4Earthquake endorsement, deductible 15% to 25%; water package depends on location5,6
BCAAB.C.-based advisorsNo public rating foundJ.D. Power 2019: first in Western Canada; Ipsos 2025: CAA advocacy leader7,4Earthquake for home, condo and renters; flood if eligible9,8
Square OneVancouver-basedNot confirmed (Mutual Fire)No survey result foundEarthquake on all home policies; inland flood not available everywhere12,10
Co-operatorsAM Best A13J.D. Power 2019: second in Western Canada7Earthquake add-on; Comprehensive Water for owners and renters11,14
SonnetDefinity, online onlyAM Best A (parent Definity)19Ipsos 2025: top performer4Earthquake, overland water and sewer backup, optional16
WawanesaAM Best A20No recent home survey result foundWater Defence: overland, sewer backup, groundwater21
TD InsuranceNo public rating foundJ.D. Power 2019: third in Western Canada7Overland water, optional22
Avivathrough brokersS&P AA−23No recent home survey result foundOverland Water, optional24
RBC Insuranceunderwritten by AvivaS&P AA− (Aviva General)25,23No recent home survey result foundOverland Water endorsement26

Financial strength ratings measure an insurer's ability to pay claims, not service. Ipsos 2025 is a national survey across all kinds of insurance and names only leaders. J.D. Power's 2019 study is the most recent Canadian home insurance ranking we found, and it reports a Western region, not B.C. alone. "No rating found" means we searched AM Best, S&P, Fitch and DBRS releases and the insurer's own pages and found nothing current. The add-on column lists what each insurer's own page names; an insurer may sell more than its page shows.

How much home and tenant insurance cost in B.C.

Nobody publishes an official average home insurance price for B.C. The closest official measure is Statistics Canada's consumer price index, which tracks what it costs to insure the same home from year to year, including changes in rebuilding costs.27 By our calculation, its B.C. index for homeowners' home and mortgage insurance rose 56.2% from August 2019 to August 2026. Prices for everything in the B.C. index rose 23.9% over the same years, and the national home insurance index rose 51.8%.28

The two biggest yearly increases, 11.6% each, came in the years to August 2021 and August 2023. In the year to August 2026 the index rose 4.5%, against 3.0% for all prices in B.C.28 An index is an average. Your own renewal can move far more.

What households spend

Statistics Canada's spending survey puts B.C.'s 2023 average at $1,039 per household for homeowners' insurance and $68 for tenant insurance. Both are spread across all households, owners and renters alike, including those that spent nothing on that kind of policy. The national figures were $1,018 and $98.29 Across Canada, households that owned their home spent an average of $1,526 on home insurance, and renter households $295 on tenant insurance.30 J.D. Power's 2019 study found a median premium of $1,248 in its Western region.7

What insurers publish

  • Houses: Sonnet lists averages of $122 a month in Vancouver and $119 in Surrey for its own customers,15 and a median of $1,401 a year across Canada.16
  • Condos: Sonnet's median is $520 a year across Canada.17
  • Tenants: Sonnet's median is $382 a year across Canada.18 Square One advertises tenant policies from $15 a month.10
  • Earthquake cover: Square One says a B.C. house insured for $300,000, with $210,000 of belongings and $75,000 for living expenses, would pay $225 to $515 a year.12 In the higher-risk zones of southwestern B.C., half of a homeowner's premium is tied to earthquake coverage, a Wawanesa executive told Canadian Underwriter, a trade publication.31

Earthquake insurance in B.C.

Shaking damage is usually left out of a home policy unless you add it. PreparedBC, the province's emergency preparedness program, says earthquake, flood and overland water coverage is usually optional.32 Fire caused by an earthquake is different: BCFSA says it must be covered in B.C., even when shake cover is not bought.1 The province won't fill the gap. Disaster Financial Assistance is not available for earthquake losses.33 Only 60% of homeowners in southwestern B.C. buy earthquake insurance, the Wawanesa executive told Canadian Underwriter in February 2025.31

The deductible is a percentage, not a dollar amount

Earthquake deductibles are usually a share of your coverage limit, often 5% to 20%, according to the Financial Consumer Agency of Canada.34 Intact's B.C. manual offers 15%, 17%, 20% or 25%. Its own example: a home insured for $1.8 million with a 15% deductible pays the first $270,000 of an earthquake loss.5 Ask for the deductible in dollars before you buy.

You can't buy it at the last minute. Intact's manual bars new earthquake cover for 168 hours (seven days) after a magnitude 3.0 or larger quake within 100 km of the home, and the clock restarts with each new quake of that size.5 Ask your insurer whether it has a similar rule.

Condo owners have two deductibles to check: their own, and their share of the strata corporation's earthquake deductible if the strata bought earthquake cover, the province advises.35 BCAA's earthquake add-on for condo owners pays the part of the strata's deductible that you are responsible for after a quake.9 Renters can add earthquake cover too. Co-operators says that for tenants, coverage for personal belongings is enough.11

Wildfire and flood cover

Fire, including wildfire, is a standard part of home insurance in B.C.32 The Insurance Bureau of Canada (IBC), the industry's trade group, says wildfire damage is covered by all standard home and business policies.36 Flood is different: overland water cover is usually an optional add-on.32 These are B.C.'s costliest recent events for insurers:

EventInsured damageWhat happened
Southern B.C. floodsNovember 2021$675 millionAtmospheric rivers from Nov. 13; the costliest severe weather event in B.C.'s history at the time. Many flooded homes were in floodplains where residential flood cover wasn't available.37
Lytton wildfireJune 30, 2021$102 millionFrom IBC’s tally of 2021 severe weather losses.38
Okanagan and Shuswap wildfiresAug. and Sept. 2023Over $720 millioninitial estimateMcDougall Creek (over $480 million) and Bush Creek East (over $240 million). In West Kelowna, 70 homes were affected; 20 were lost in Westbank First Nation.36
Atmospheric river seriesDecember 2025$90 millionIBC's list of 2025's largest events.39
Bald Range Fire, SummerlandAugust 2026$293 million45-day estimateDown from CatIQ's initial estimate of $313 million.40

Estimates from CatIQ, the industry's catastrophe data provider, published by CatIQ or IBC. They cover home, business and vehicle claims, and they change as claims close.

Insurers can pause sales when fire is close. PreparedBC says insurers may put temporary restrictions on new policies and add-ons in areas under imminent threat, so buy or change your cover before fire season.32

For flood, IBC says about 94% of Canadian homes can now get overland flood insurance, and the homes that can't tend to be in high-risk areas.41 After the 2021 floods, IBC said many affected residents lived where residential flood cover was not available, and that government and taxpayers would bear the overwhelming majority of the cost.37 A federal flood insurance program for the highest-risk homes is still being designed.42

Government aid is not a backup plan

B.C.'s Disaster Financial Assistance pays only part of uninsurable losses, up to $400,000, and is not available if you could have bought insurance and didn't.32 It does not cover earthquake losses at all.33

Condo (strata) insurance in B.C.

Your strata corporation's insurance does not cover your liability, your belongings, your living costs after a loss or the strata's deductible.35 That deductible is the biggest risk. The province says strata deductibles can run from $100,000 to $750,000 or higher, and an owner can be made to pay it when a claim starts in their unit, even if they were not at fault. Its example is a dishwasher hose that breaks and floods common property and other units.35 Check that your condo policy's deductible coverage matches your strata's water and earthquake deductibles.

Strata premiums jumped in 2020. In June that year, BCFSA reported that they had risen about 40% across B.C. in a year, and 50% in Metro Vancouver, while deductibles rose by up to triple digits.43 The province changed its strata insurance rules in August 2020 and again in April 2023.44 Strata corporations must now tell owners and tenants as soon as possible about any material change in coverage or deductibles, and a summary of the strata's insurance must be attached to the Form B information certificate that owners and buyers request.35 Ask for that summary and take it to your broker each year.

Tenant insurance in B.C.

Your landlord's insurance doesn't cover your belongings or your extra living costs if you have to leave.32 We found no B.C. law that makes tenant insurance compulsory, but a landlord can make it a term of your tenancy agreement, and the province's guidance for strata tenants says landlords often require it and ask you to renew it each year.35

That term can matter. In a December 2021 decision, a Residential Tenancy Branch arbitrator found that carrying insurance was a material term of a subsidized tenant's agreement. The tenant kept the home because the landlord's warning letter gave no deadline and didn't set out the consequences.45 Buy liability cover as well as contents cover: the province says tenants can be held responsible for damage they or their visitors cause to the building or common property.35

On price, Square One advertises tenant policies from $15 a month, and Sonnet's median tenant policy costs $382 a year across Canada.10,18 In B.C., earthquake cover for a tenant's belongings is worth asking about; Square One includes it in every home policy and BCAA sells it to renters.12,9

What B.C. residents report

Our Reddit search for home, condo and tenant insurance in r/vancouver returned mostly news threads, so first-hand stories here are thin. We read all 44 comments in 2 threads. The useful ones came from a July 2026 thread about a New Westminster fire that displaced about 150 residents. These are anecdotes, not a survey.

“Make sure you have enough insurance to cover your living expenses because it’s expensive to rent a furnished place while insurance companies and the fire inspector take their sweet time”
Condo resident displaced by a building fire, city not stated
r/vancouver, July 12, 2026 · Read on Reddit
“I’m in a social housing unit and it’s mandatory that we have tenant insurance. But I know not all organizations have this rule.”
Tenant in social housing, city not stated
r/vancouver, July 12, 2026 · Read on Reddit

Asked what they wished they had known, the same commenter added that their policy paid for household items at a depreciated value and advised a lower deductible or enough savings to cover a higher one. We could not check that policy's wording. Read the additional living expenses limit on your own policy and ask whether contents are paid at replacement cost or depreciated value.

How to pay less in B.C.

  • Shop at renewal, not mid-term. Get quotes from a broker and from at least one direct insurer, and switch at renewal to avoid a cancellation penalty.46 TD gives 10% off when you buy online.22
  • Ask what a bundle saves, in dollars. Insurers often discount home and car insurance bought together.46 Ask for the home price with and without the bundle.
  • Price the earthquake deductible separately. A higher deductible lowers the premium.46 With earthquake cover, a higher percentage can mean tens of thousands more out of pocket, so compare the dollar amount, not the percentage.5
  • Insure the rebuild, not the market price. Leave the value of your land out of your coverage.46
  • Ask about loss-prevention discounts. Insurers may lower your premium for devices such as a backwater valve, sump pump, burglar alarm or sprinklers.46
  • For condos, match your deductible cover to the strata's. Get the strata's insurance summary and give it to your broker.35

Before you trust a "best home insurance in B.C." ranking

Many comparison sites still quote J.D. Power. Its last Canadian home insurance study came out in March 2019, from a survey of 5,809 homeowners fielded from November 2018 to January 2019. Western Canada had the least satisfied customers in that study, with an average of 740 points.7 J.D. Power's current insurance studies cover the U.S. only.47 Ipsos's 2025 index is the newest large survey that names insurers, but it covers every kind of insurance across Canada and publishes only the leaders.4

Complaint counts by insurer don't exist in public. The General Insurance OmbudService (GIO), the industry's free complaints service, reports totals only: 7,330 contacts in 2024-25 across Canada.48 Personal property, the category that includes home insurance, accounted for 1,796 of them.49 Every insurance company doing business in B.C. must belong to GIO.48

If a claim goes wrong

BCFSA regulates the insurance companies that operate in B.C.1 It lays out these steps for a complaint:50

  • Start with the insurer. Go to your representative or their manager, then to senior management or the insurer's internal ombudsman.50
  • Get a final position letter. Once you have it, ask a third party for an independent review. For home insurance that is GIO.50
  • Tell BCFSA at any time. It can't mediate or advocate for you, but it uses complaints to spot problems across the market.50

Common questions

What is the best home insurance in B.C.?

No insurer leads on every record. Intact has the highest financial strength rating in our comparison (AM Best A+), BCAA ranked first in Western Canada in J.D. Power's last Canadian home insurance study, from 2019, and Square One includes earthquake cover on every home policy.3,7,12

How much is home insurance in B.C.?

There is no official B.C. average. Statistics Canada found B.C. households spent an average of $1,039 on homeowners' insurance in 2023, an average that counts renters and others who spent nothing. Sonnet says its own customers pay an average of $122 a month for a house in Vancouver and $119 in Surrey.29,15

Who has the cheapest home insurance in B.C.?

Public records can't tell you. B.C. does not regulate home insurance rates, so insurers set their own prices and file no public price list. Get at least three quotes for the same coverage, deductibles and earthquake limits.1

How much is tenant insurance in B.C.?

Square One advertises tenant policies from $15 a month, and Sonnet says its median tenant policy costs $382 a year across Canada. Statistics Canada found renter households across Canada spent an average of $295 on tenant insurance in 2023.10,18,30

Is tenant insurance mandatory in B.C.?

We found no B.C. law that requires it, but a landlord can make it a term of your tenancy agreement, and the province's guidance for strata tenants says landlords often do. A Residential Tenancy Branch arbitrator has treated such a term as material, the kind of term whose breach can give the landlord the right to end the tenancy.35,45

Does home insurance cover earthquakes in B.C.?

Usually only if you add earthquake cover. The deductible is a percentage of your coverage limit, often 5% to 20%, and B.C.'s Disaster Financial Assistance does not pay for earthquake losses. Fire caused by an earthquake must be covered.32,34,33,1

Do I need condo insurance if my strata has insurance?

Yes. The strata's policy doesn't cover your belongings, your liability, your living costs after a loss or the strata's deductible. The province says strata deductibles can run from $100,000 to $750,000 or higher, and an owner can be made to pay it when a claim starts in their unit.35

Does home insurance cover wildfire and floods in B.C.?

Fire, including wildfire, is a standard part of B.C. home policies. Overland flood cover is usually an optional add-on, and some homes in high-risk floodplains can't buy it.32,37

How we did this

B.C. home insurance prices aren't filed with the regulator, so we built this guide on other public records: BCFSA's strata insurance reports and complaint guidance; Statistics Canada's consumer price index and spending survey, which we downloaded from its data service; financial strength ratings from AM Best and S&P; the Ipsos and J.D. Power surveys, with their methods; catastrophe loss estimates from CatIQ and the Insurance Bureau of Canada; the B.C. government's PreparedBC and strata insurance pages; a Residential Tenancy Branch decision; and each insurer's own pages, including Intact's B.C. underwriting manual. We saved a copy of every page and checked each quote against it. Some national sources are shared with our Ontario home insurance guide.

For first-hand reports, we ran one Reddit search in r/vancouver for home, condo and tenant insurance posts from the past year. It returned mostly news threads, so we read the 2 threads that discussed insurance. We quote people with a link and never publish usernames. These posts are anecdotes; we use them to show what to ask, not to score insurers.

No insurer paid for a placement on this page, and it has no affiliate links. We will update it when a new customer survey, catastrophe estimate or rule change comes out, and each change will go in the log below.

The 2 Reddit threads we read

Sources

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  47. J.D. Power. "Insurance industry studies." Viewed Oct. 6, 2026. www.jdpower.com/business/insurance
  48. General Insurance OmbudService. "2024-2025 Annual Report." October 2025. giocanada.org/wp-content/uploads/2025/10/GIO_Annual_report_2025_EN_Final_updated.pdf
  49. Insurance Portal (trade publication), reporting the GIO annual report. "Ombudsman reports 17 per cent increase in dispute resolution usage." October 2025. insurance-portal.ca/article/ombudsman-reports-17-per-cent-increase-in-dispute-resolution-usage
  50. BC Financial Services Authority (BCFSA). "File an Insurance Complaint." Retrieved Oct. 7, 2026. www.bcfsa.ca/public-protection/report-concern/file-insurance-complaint

Update log

  • First published. Catastrophe estimates current to CatIQ's Oct. 6, 2026 update; Statistics Canada price data to August 2026.