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.
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 before you sign on the dotted line.
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.
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.
Self-serve options
Square One’s online platform features an intuitive, user-friendly interface for customers to adjust or cancel their policies themselves.
Non-refundable cancellation fee
Square One imposes a non-refundable $50 fee on cancelled policies. This is called a “minimum retained premium,m” and it remains in effect irrespective of cancellation timing, whether it’s an hour after you bought the policy or months later.
Standard comprehensive coverage
Square One’s standard insurance packages provide comprehensive coverage, safeguarding renters against common risks they may encounter.
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.
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.
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.
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.
Since 2017, YouSet has been making it easier for Canadians to buy home and car 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 best price year after year. With over 300,000 users and an average online review rating of 4.9 stars, YouSet is a broker well worth considering.
Best price year-after-year
YouSet’s algorithms are designed to do one thing - find you the best price. Not just the first time you buy, either. If your price increases at renewal, we’ll alert you and even help you re-shop with another carrier.
Highly reviewed by Canadians
With an overall rating of 4.8 out of 5 stars on Google, the general consensus among YouSet users is that YouSet is making it easier to find affordable insurance and buy it online at the best price year after year.
Transparent renewals
Anytime a YouSet insurance policy comes up for renewal, our team will make sure you’re paying the best price possible for your policy. If that’s no longer working, we’ll help you re-shop another carrier for a better deal.
Buy, manage, and renew your policy 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 wait on hold? With YouSet, you can do all that and more with our self-serve features.
Mix-and-match approach to bundling
YouSet is the only digital broker in Canada that automatically compares the cost of bundling home and car insurance from a single carrier against the cost of mix-and-matching home and car carriers. Whichever option offers the maximum savings is the one we present to you.
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.