When you think of the Royal Bank of Canada (RBC), you might immediately associate it with banking, credit cards, or even mortgages – but home insurance? As with many of the other “Big Five Banks,” RBC is also a major player in the Canadian insurance market, offering home insurance as well as a wide range of other personal insurance products underwritten by Aviva.
But are they the right choice for your home insurance needs and budget?
To answer that for yourself, it’s important to do your own research (as you’re doing right now!) and weigh the potential pros and cons, such as the ones listed below. Also, since RBC doesn’t compare quotes from multiple carriers as a broker like YouSet would, it’s crucial to explore other options to ensure you’re getting the best possible price.
| Pros | Cons |
| Trusted name in the industry | Restricted to Aviva products |
| Extensive product offering | Poor online reviews |
| Offers single coverage limit | Limitations on home security discount |
| Optional coverage for small repairs | Inconsistent customer service |
Trusted name in the industry
As part of The Royal Bank of Canada – the largest bank in the country – RBC Insurance benefits from the stability and recognition of a trusted financial institution. This may offer a sense of familiarity that drivers find reassuring.
Restricted to Aviva products and pricing
When you buy home insurance from RBC Insurance, Aviva will underwrite your policy. Unlike brokers such as YouSet, which scans a network of multiple carriers to find you the best price, with RBC you’re limited to the products, prices, and discounts offered by this one carrier.
Offers a range of personal insurance products
In addition to home insurance, RBC also offers car, tenant, condo, cottage, life, and travel insurance. They also advertise a discount for customers who purchase both home and car insurance, however, bundling with a single carrier isn’t always the best way to maximize savings.
Poor online reviews
As of January 2025, RBC’s customer review rating on TrustPilot was just 2.1 out of 5 stars and 1.4 out of 5 stars on InsurEye. While these customer reviews may highlight some concerns, unhappy customers are generally more likely to leave reviews on platforms like this than satisfied ones.
Offers single coverage limit
RBC home insurance allows customers to combine coverage for their home, personal belongings, and additional living expenses under a single limit. While this can eliminate the need to manage separate limits for each coverage, it may not be automatically included in every homeowner’s quote.
Limitations on home security discount
Although RBC offers a discount for homeowners who install a centrally monitored security system, it is not available to homeowners in Ontario, Alberta, or British Columbia. Additionally, condo and tenant insurance policies are not eligible for this discount.
Optional coverage for small repairs
For an additional fee, RBC offers a Home Repair Bundle endorsement, providing homeowners with minor repair coverage, claim prevention services, and on-demand phone advice from legal and home repair experts. This may appeal to those who rely on a claims-free discount or disappearing deductible to keep their premium low. However, it comes with a 45-day waiting period before taking effect and strict terms, conditions, and coverage limits.
Inconsistent customer service
A common grievance among online reviewers of RBC Insurance is long wait times on phone lines, further frustrated by a lack of online support options to facilitate the claims process or manage policies efficiently.
TD vs. YouSet Home Insurance
While getting a home insurance quote from RBC is a good starting point, the only way to know for sure if it’s the best possible price out there is to compare it with quotes from other providers.
Fortunately, YouSet makes it easy to compare multiple carriers, not just one, in minutes. By having insurance providers compete for your business, we help you secure the best possible price year after year. But that’s not all. Here are some of the additional benefits of buying home insurance with YouSet.
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 home insurance and buy it online at the best price year after year.
Transparent renewals
When your policy comes up for renewal, the YouSet team will make sure you’re paying the best price possible for it. 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
Whether you’re purchasing a policy, making modifications to it, or renewing it, with YouSet’s self-serve features, you can do it all online without ever having to make a phone call.
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.
