Since its opening in 2011, Square One has undeniably created a name for itself, which is no easy feat considering the dominance of a handful of key players in the Canadian insurance industry. However, this popularity doesn’t automatically guarantee that Square One tenant insurance is the best choice for every renter.
In this article, we’ll explore some of the potential pros and cons of Square One tenant insurance so that you can decide whether an alternative provider, like YouSet, might be a better match for your needs.
Pros of Square One tenant insurance
Assessing and comparing a variety of providers is the best way to ensure you find the coverage you need, at the best possible price. To help you do that, here are a few of the pros of getting your tenant insurance from Square One.
- Diverse Product Offering: Beyond tenant insurance, Square One offers home, condo, and car insurance, as well as travel, life, and health insurance through one of their partners.
- Self-Serve Options: Square One’s online platform features an intuitive, user-friendly interface for customers to adjust or cancel their policies themselves.
- Standard Comprehensive Coverage: Square One’s standard insurance packages provide comprehensive coverage, safeguarding renters against common risks they may encounter.
- 24/7 Emergency Claim Hotline for Customers: Square One provides a 24/7 hotline for emergency claims, indicating that they are making an effort to create a positive customer experience.
Cons of Square One tenant insurance
Despite its “digital-first” approach, Square One, like any provider, has its drawbacks. Depending on your needs and preferences, you may see those drawbacks as either not a big deal or as a dealbreaker. That’s why it’s important to carefully weigh the pros and cons of Square One tenant insurance before you sign on the dotted line.
- Limited Availability: Square One’s services are exclusively accessible to residents of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. Furthermore, although they have recently introduced car insurance, this offering is only available to those in Ontario and Québec.
- Roommates Not Covered: Square One explicitly states that coverage does not extend to roommates and that each person must purchase their own tenant insurance policy, which might not be the most cost-effective or convenient solution for those sharing a living space.
- Non-Refundable Cancellation Fee: Square One imposes a non-refundable $50 fee on canceled policies. This is called a “minimum retained premium” and it remains in effect irrespective of cancellation timing, whether it’s an hour after you bought the policy or months later.
- Inconsistent Customer Service: Some Square One customers voice dissatisfaction with the responsiveness of its customer service team, citing instances where messages, emails, and phone calls are left unanswered.
Square One vs. YouSet tenant insurance
If the disadvantages listed above have you reconsidering your options, rest assured that there are alternatives to Square One tenant insurance.
Take YouSet as an example. Our mission is to make it easier than ever for you to find the best tenant insurance, at the cheapest price. Our technology does all the work of comparing rates from multiple insurance companies and finding exclusive discounts for you, all in less than four minutes. Plus, YouSet is the only broker in Canada offering the flexibility to bundle tenant and car policies from different insurers, so that you can save up to 15% more.
If that’s not enough, here are a few noteworthy benefits of tenant insurance from YouSet.
The benefits of YouSet tenant insurance
Highly Reviewed by Canadians: With an outstanding rating of 4.8 out of 5 stars on Google, YouSet is thankful for all the customers who have taken time out of their days to leave positive feedback. We invite you to explore these reviews firsthand, as there’s no greater reassurance than knowing you’re entrusting your insurance needs to a company that consistently exceeds expectations.
Affordable Rates: YouSet tenant insurance starts at just $12 a month, which means you can have the peace of mind of knowing you’re protected without breaking the bank.
Responsive Customer Support: Compared to larger insurance companies where customer support can feel bureaucratic and impersonal, YouSet’s dedicated and compassionate customer support team is just a click, email, text message, or phone call away when you need them.
Exclusive Discounts: YouSet unlocks access to exclusive discounts and rewards that no one else gets access to. In fact, on average, our customers save up to 29%!
Buy, Manage, and Renew Online: How much easier would it be if you could purchase a policy, personalize it to fit your needs, make modifications to it, and renew it, all without having to make any phone calls or sit on hold? So much easier. Fortunately, as a YouSet customer, you can do all that and more through your online account.
Complimentary Legal Support: If you ever need to file an insurance claim, our team of expert brokers will be by your side to navigate the complex claims resolution process. We even offer our customers a free 30-minute consultation with a lawyer during the claims process, should you need it.
Next steps
As you explore Square One for your tenant insurance needs, it’s worth investigating alternative providers. You might be pleasantly surprised by what you find. After all, YouSet is known to save clients an average of 29% on their tenant, home, condo, and car insurance premiums.