Compare the best home insurance quotes in Manitoba

Q: What factors aren't used to calculate Manitoba home insurance rates?

Unlike auto insurance , where age and gender can play a role in determining your rate, home insurance only cares about the home itself. You can get married, share the home with your new spouse, and even add children if you want to and it won’t affect the rate you pay.

In under five minutes, compare Manitoba home insurance quotes from the province's top providers – find your cheapest rate with us today.

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How does home insurance in Manitoba work?

Matt Hands, VP, Insurance

February 13, 2024

Home insurance isn't required by law in Manitoba – as well as the rest of Canada. While it's highly recommended that you carry some form of coverage to protect such as large asset, it's also entirely up to you as the homeowner.

The one exception, however, is if you have a mortgage on the property. It's no surprise that most lenders will require you to carry home insurance as part of the lending agreement to safeguard their investment.

A home insurance policy doesn't just pay for the repair and replacement of your property in the event of physical damage. It can also cover all the personal belongings within it and act as a financial safeguard against liability claims. To learn more about all things home insurance in Manitoba, be sure to read on.

Types of Manitoba home insurance policies

There are various different home insurance policies you can choose from – here, we cover three common types of plans, so you can choose the best one for your needs. It's important to note, however, that most homeowners will opt for the comprehensive choice as it offers the highest level of coverage.

Standard home insurance coverages in Manitoba

While the type of home insurance plan you select will determine the risks you're insured against (e.g. theft, fire), most Manitoba home insurance policies will offer these standard coverages.

Dwelling coverage

Contents coverage

Liability coverage

Additional living expenses coverage

Common home insurance add-ons in Manitoba

You can also customize your Manitoba home insurance policy further with optional add-ons (also known as endorsements). While the available options will differ depending on the insurer you choose, here are some common ones you can ask your insurance representative about.

Home-based business insurance
If you run a business from home, you may want coverage agaisnt commercial-related risks (e.g. damaged stock).
Umbrella insurance
These policies are typically sold separately. They offer an extension to your auto or home insurance's liability limit – plus cover additional forms of liability.
Identity theft insurance
If your information is stolen with the intent to commit crime, this coverage can help you with the recovery process financially.
Extended contents insurance
Some items (e.g. art, jewelry) have set coverage limits. With this add-on, you can increase the limit for peace of mind.
Flood insurance
This covers you for flood damage (which can include overland water and sewer backup) – highly recommended for homes in flood-prone areas.
Earthquake insurance
Earthquakes are usually an uninsured peril unless you add the coverage to your policy. Consider doing so if you live in an area that could be impacted.

Get the best home insurance quotes in Manitoba.

In just a few minutes, view customized home insurance quotes from top providers across Manitoba – find your best rate with us today.

How much is home insurance in Manitoba?

Manitoba homeowners pay an average of $1,032 per year, or about $80 per month, depending on many different factors. To see if you could be paying less, spend five minutes to compare personalized quotes for free.

Factors that impact your Manitoba home insurance quote

Home insurance companies look at many factors to determine your personalized quote – here are a few key ones that help indicate the level of risk you bring as a policyholder.

Property type

Home replacement cost

Location

Internal construction

Roof

Renovations & betterments

Pets

Pools & acessory dwellings

Special use

Credit score

Insurance history

How to get the cheapest home insurance in Manitoba

While insurers are the ones that ultimately determine the price you'll be paying, there are many steps you can take to ensure you're getting the best possible premium – here, we cover eight different ways to get cheap home insurance in Manitoba.

Shop and compare
With Ratehub.ca, you can compare personalized home insurance quotes from top Manitoba companies, all in one instance. You won't know which insurer offers the best rate until you shop the market.
Bundle policies
By securing your home insurance policy plus other coverage needs (e.g. auto, condo, tenant) under one provider, you'll be eligible for a multi-policy bundle discount.
Stay loyal
It's no surprise that insurers value customers who stay with them long-term. If you're renewing a home insurance policy with your current insurer, be sure to ask about loyalty discounts.
Upgrade your property
While some upgrades (e.g. remodelled kitchen) can increase your premium, others (e.g. new roofing) can help lower it instead.

Improve your credit
Many home insurance companies look at your credit score as an indicator of the risk you bring. Opting in for a soft credit check (and having a good score) will lead to the cheapest insurance rates.
Install safety systems
Certain safety systems, such as a centrally monitored alarm system, can lead to a discount – insurers like to see you lower your risk of having to make a claim.
Increase your deductible
Your deductible is the amount of money you agree to pay for a claim before your insurer meets the rest. Choosing a higher may leave you with more risk, but it will also lead to lower rates.
Just ask
You never know what discounts you can qualify for unless you ask. For example, you may be eligible alumni group rates.

Ready to secure the cheapest home insurance in Manitoba?

We've got you covered – compare Manitoba home insurance rates with us today to find your best option.

Frequently asked questions on home insurance in Manitoba

How do I use the home insurance calculator for Manitoba?

Our home insurance calculator will ask you questions about who you are and what you call home..

The calculator will ask if you've had any claims and what they covered. It'll ask about the building itself – its approximate age, how it was built (e.g. wood or brick), and how it's heated (e.g. forced air furnace, boiler system with radiators, oil)

It will also ask about security features like fire alarms, security systems, and even how many deadbolts you have.

We're always tweaking our home insurance calculator to deliver the best results for you and to get the most accurate rates from our providers.

How much is home insurance in Manitoba?

The average price of home insurance in Manitoba is $1,032 per year or about $80 per month. But, there are so many factors that go into to home insurance rate calculations, such as where the house is located, the rebuild cost (i.e. material cost of the home), and even a providers appetite for your business. This is why we stress comparing the market in order to find your best rate. Check out this blog on ways to save on home insurance.

Also note, the price fluctuates greatly based on the actual size of your home and type of home insurance. For example, insurance for a condo will be closer to $40 per month depending on the age of the building.

What brings the average down even further is renters' insurance, which you can get for as low as $15 per month.

What are the best home insurance companies in Manitoba?

CAA home insurance in Manitoba may garner the most searches, but it doesn't mean they're the best for you. Understand that each home insurance company, be it small or large, will look at your unique housing situation and put a price tag on it – some charge more than others, and it fluctuates all the time. So, we recommend that once a year, when you get your renewal slip in the mail, to get home insurance quotes online and see who's currently offering the best price.

What factors aren't used to calculate Manitoba home insurance rates?

What is not covered by a typical home insurance plan?

There are some things that are excluded from standard policies. It's most often due to wear and tear that gets worse due to negligence. For instance, mould is seen as a lack of maintenance from a homeowner. If a home insurance claim could have been avoided with regular maintenance, you can expect it to not be covered.

Other common exclusions include infestations from termites or rats, home businesses, dangerous dogs, and sewer backup insurance.

In Manitoba and its cold winters, know that burst plumbing pipes are covered by your home insurance, so long as your home is heated.

Check out our blog, for more information on what isn't covered by a standard home insurance policy.