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Cost of home insurance in Montréal per month – $90
The average cost of home insurance for homeowners in Montréal is $90 per month among YouSet users. However, your premium may be higher or lower than this average due to the variety of factors that insurers take into consideration, such as the location of your property, its size, your claims history, and the coverage limits you choose.
Cost of home insurance in Montréal per year – $1,080
In Montréal, the average cost of home insurance for homeowners is $1,080 per year among YouSet users. This figure reflects comprehensive coverage, which typically comes at a slightly higher price point compared to basic policies due to the broader range of perils it protects you against.
Montréal homeowners insurance pricing trend
The price of homeowners insurance in Montréal has fluctuated in recent years, in part due to factors such as inflation, rising repair costs, and changes in risk assessment. You can see this in the table below.
| Year | Cost per year |
| 2024 | $1,080 |
| 2023 | $1,009 |
| 2022 | $833 |
Factors impacting the price of homeowners insurance in Montréal
Determining your insurance premium is a bit like assembling a puzzle. Various pieces contribute to the bigger picture, each one representing a factor that can make your premium price go up or down.
Age and history
Montreal is not a young city. Founded in 1642, it’s ripe with old buildings that might have compromised electrical, plumbing, roofing, HVAC, and even toxic materials, like asbestos. This can increase the risks, and thus, home insurance premiums. In fact, we’ve seen insurers decline coverage for homes in Montreal because of knob and tube wiring, or galvanized steel plumbing. Replacement of old fuel tanks and 60-amp service are often required as well.
Population density
With an average population density of 4,833 people per square kilometer, Montréal is the sixth most densely populated city in the country. In insurance, a greater population density is associated with a higher risk of accidents, leading to higher insurance premiums. So, if you’re relocating from a less densely populated city to a more populated one, such as Montréal, you should expect to see this reflected in the home insurance quotes you get.
Crime severity
Montréal has a crime severity index of 63.2, which is considered high. This index monitors the severity level of police-reported crime and provides valuable insights into the area’s safety. Insurers may take this data into account when assessing the risk associated with insuring your home. Consequently, in areas where the crime index is higher, premiums might also be higher to reflect the increased likelihood of claims due to crime-related incidents.
Flood risk
As the number and severity of storms rise, the threat of flooding in Montréal does too. On top of that, the City of Montréal notes that “areas bordering the Lac des Deux Montagnes and the Rivière des Prairies are at higher risk of flooding.” While this might result in slightly more expensive insurance premiums, it’s wise to invest in a good home insurance policy with adequate water coverage if you live in this area.
Free Montréal home insurance calculator
If you’re a homeowner looking for an insurance estimate, try this Montréal home insurance calculator. It’s a quick, easy, and anonymous way to get a sense of what others in your area are paying to insure their homes.
Average personal liability coverage limit among homeowners in Montréal
While it is often recommended to have a personal liability coverage limit that covers your net worth, there are other factors to consider, such as the specific risks associated with your property and your overall exposure to liability. For reference though, the majority (71%) of YouSet-insured homeowners in Montréal have a one-million dollar personal liability coverage limit.
| Liability insurance coverage amount | % of renters |
| $1,000,000 | 71% |
| $2,000,000 | 29% |
Most common home insurance claims in Montréal
Among YouSet users, the most common types of home insurance claims in Montréal are for water, burglary, flood, and groundwater-related incidents. The table below details the frequency and average claim amount for each type, which is information you can use to decide which additional coverages to include in your policy.
| Type of claim | Claim amount |
| Water | $16,954 |
| Burglary | $5,365 |
| Flood | $16,968 |
| Ground water | $13,175 |
How to get cheap home insurance in Montréal
Given the expenses associated with homeownership, it’s natural to want to pay less for insurance without compromising on coverage. With YouSet, that’s possible! In fact, here are five ways to get cheap home insurance in Montréal.
Compare prices
When shopping for home insurance, you want to avoid buying the first quote you’re given. If you do, how will you know if you’re paying more than you have to? Thankfully, it’s easier than ever to compare multiple insurers in one place with YouSet.
Bundle your policies
Bundling your insurance policies with YouSet is an easy way to save up to 15% more on your monthly home and car insurance bills.
Select a higher deductible
A common strategy to lower your monthly insurance premium is to select a higher deductible. However, you should be sure you can comfortably pay this amount out-of-pocket if you ever need to file a home insurance claim.
Make claims strategically
Homeowners who go long periods without filing a claim are often rewarded with discounts by insurers. Therefore, if possible, try to file as few claims as you can.
Pay once a year
As long as your budget allows it, paying your home insurance premium in a lump sum once a year can save you from the 2-4% interest typically incurred with monthly payments and even earn you a discount.
Homeowners insurance starting at $12/month
YouSet is a digital home insurance broker in Montréal whose mission is to help homeowners, just like you, save money on insurance. Through partnerships with some of Quebec’s top insurers and our proprietary technology, we’re able to secure you the most competitive rates and apply exclusive discounts for you, resulting in savings of up to 29%.
Is homeowners insurance mandatory in Montréal?
Although homeowners insurance is not mandatory in Montréal by law, banks/mortgage lenders often require it as a condition for approving mortgages and will not lend to you if you don’t maintain adequate coverage.
How much is insurance in Montréal on average?
The average home insurance price in Montréal among YouSet users is $1,080 per year, which equates to $90 per month. While this will give you a general idea of what other homeowners are paying, prices can vary significantly because of how many factors are used to calculate the cost of home insurance.
How do you buy home insurance in Montréal?
To buy home insurance in Montréal with YouSet, all you need to do is get a quote, checkout, and you’re insured! It can all be done 100% online and in less than 5 minutes. If you need help along the way, you can refer to YouSet’s help center or customer portal, as needed.
Why is home insurance so expensive in Montréal?
In recent years, home insurance prices have gone up across the province. This increase is partly driven by escalating material costs, fluctuating interest rates, general inflation, and a notable increase in natural disasters, such as floods and wildfires across the country.
Making it easier to buy home insurance online since 2017
Since 2017, YouSet has been making it easier for Canadians to buy home insurance online. Why spend hours manually comparing quotes when our proprietary technology can do it all for you in less than 4 minutes? Not only that, but we’ll also have Canada’s top insurance providers competing for your business, ensuring you get the lowest-priced offers. With over 250,000 users and an average rating of 4.9 stars on Google and Facebook, YouSet is a trusted way to get the coverage you need for less.