Knowing the ins and outs of your home insurance coverage in Saskatchewan can help you find the best policy deals. MyChoice’s goal is to help you learn about the types of insurance coverages available, how to save money on insurance, and common risk factors affecting homeowners in the province.
How Does Home Insurance Work In Saskatchewan?
When you get a home insurance quote in Saskatchewan with MyChoice, you’re receiving a comprehensive policy that goes beyond just the basics — including Guaranteed Replacement Cost, which ensures your home will be rebuilt to its original condition even if the cost exceeds your dwelling coverage limit.
Your quote is made up of two main pillars: Base Residence / Dwelling (covering your home, contents, liability, and standard perils) and Enhanced Water Protection (covering floods, sewer backup, and groundwater seepage). Together, they form a complete protection package for your property and belongings.
| Coverage Type | What’s Included? | Average Annual Home Insurance Premium |
|---|---|---|
| Base Residence / Dwelling | – Dwelling Coverage – Outbuildings (detached structures) – Contents – Personal Liability – Voluntary Medical Payments – Voluntary Property Damage – Basic Water Damage | $1,073 |
| Enhanced Water Protection | – Sewer Backup Endorsement – Ground Water Endorsement – Overland Water Endorsement – Broad Water Damage Endorsement | $214 |
| Coverage Total: | $1,287 |
A comprehensive home insurance policy protects your property and belongings against all perils except those specifically excluded by the policy. This typically includes: fire and smoke damage, wind and hail damage, lightning strikes, burst pipes (depending on the situation), falling objects (like trees or branches), theft and burglaries, and vandalism.
Base Residence / Dwelling Coverages:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Dwelling Coverage | Covers the cost to rebuild your home after insured damage. | $1,000,000 |
| Outbuildings (detached structures) | Covers the cost to rebuild the detached structures (i.e. garages, sheds, fences). | $150,000 |
| Contents | Protects your belongings from damage or loss due to covered perils. | $750,000 |
| Personal Liability | Legal & medical costs if someone sues you for injury/property damage. | $1,000,000 |
| Voluntary Medical Payments | Pays limited medical expenses if someone is accidentally injured on your property, regardless of fault | $4,500 |
| Voluntary Property Damage | Covers small amounts for accidental damage you cause to someone else’s property (or damage caused by a minor in your care | $1,500 |
| Basic Water Damage | Protects against sudden and accidental internal water damage (e.g., burst pipes or overflowing appliances | $1,000,000 |
Please note that the average coverage limits in the tables above and below are based on the dwelling coverage of $1 million and can vary by house and carrier.
Enhanced Water Protection:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Sewer Backup Endorsement | Pays for damage caused by sewage or septic systems backing up into the home. | $100,000 |
| Ground Water Endorsement | Adds protection against damage from ground‑water seepage, which is not covered by standard policies. | $250,000 |
| Overland Water Endorsement | Covers damage from freshwater entering your home from rivers, lakes or heavy rainfall. This is typically optional and recommended for homes in flood‑prone areas. | $250,000 |
| Broad Water Damage Endorsement | A catch‑all rider that may combine overland water, sewer‑backup and ground‑water coverage and may also include protection for seepage or ice‑damming (depending on the insurer) | $250,000 |
Home Insurance Price in Saskatchewan by Dwelling Type
Below is the average home insurance price in Saskatchewan, categorized by dwelling type:
| Type of Dwelling | Average Annual Home Insurance Premium |
|---|---|
| Detached | $1,287 |
| Semi-Detached | $1,184 |
| Freehold Townhouse | $1,107 |
Does Where You Live in Saskatchewan Affect Your Home Insurance?
Where you live in Saskatchewan does affect your home insurance, since different areas face different risks. For example, housing in northern Saskatchewan is more vulnerable to wildfires, while properties in southern regions, such as Weyburn or Estevan, have a higher risk of flooding. As a result, two homes with similar conditions may have different insurance rates, depending on their location and exposure to these risks.
Most Expensive Cities to Insure a Home in Saskatchewan
The average home insurance rate that you pay will vary depending on which city you live in, Saskatchewan.
| City | Average Annual Home Insurance Premium |
|---|---|
| Regina | $1,231 |
| Saskatoon | $1,235 |
| Moose Jaw | $1,189 |
| Prince Albert | $1,321 |
Common Home Insurance Discounts in Saskatchewan
Certain insurers offer home insurance discounts that can significantly reduce your premium — sometimes by up to 20% when combined. Please note that these discounts depend on your property type, condition, the insurer, and even external conditions such as natural disasters or crime rates in your specific area. Contact your broker or insurer to learn more about the discounts they offer in your area.
Here’s a look at the most common discounts you can get on home insurance in Saskatchewan:
| Discount Type | Average Percentage Savings | Average Discount Value |
|---|---|---|
| Multi-Line (Home + Auto) | 11.4% | $147 |
| Claims-Free Discount | 16.5% | $212 |
| Alarm System (Burglar) | 7.5% | $97 |
| Alarm System (Fire) | 5.0% | $64 |
| Membership Discount (CAA) | 10.0% | $129 |
| Non-Smoker Discount | 7.5% | $97 |
Common Risk Factors for Homeowners in Saskatchewan
Different parts of Canada have their own unique risk factors for homeowners. Here are the major risk factors you may encounter when living in Saskatchewan:
Severe Event Probability in Saskatchewan
Saskatchewan regularly experiences floods, wildfires, and severe snowstorms that can cause serious damage to your property. One of the most significant climate-related disasters in Saskatchewan in recent decades was the flood in Southern Saskatchewan that happened on June 25, 2014, which caused over $19.3 million in insurable damages and forced the evacuation of 500 residents.
Below are the MyChoice severe event probability scores for Saskatchewan, based on the historical data from the Canadian Disaster Database collected since 1950. The percentages reflect the likelihood of a major event in question occurring at least once in the region in the next decade, relative to other regions and events.
Housing Data in Saskatchewan
The 2021 Census of Population has complete information on the housing landscape in Saskatchewan. Here’s a summary of several key points:
FAQs About Home Insurance in Saskatchewan
How much is home insurance in Saskatchewan?
The average annual cost of home insurance in Saskatchewan is approximately $1,287, depending on the type of dwelling, location, and other factors. Home insurance costs differ between home insurance providers.
Note that several aspects can increase or decrease the cost of your Saskatchewan home insurance, such as your home’s value and the property’s condition.
What factors affect Home insurance premiums in Saskatchewan?
Home insurance is usually affected by location, age and condition of your home, the coverage you chose, and your past claim history.
Since Saskatchewan has a high risk of hailstorms and wildfires, location matters a great deal. Properties located in rural Saskatchewan may face higher premiums due to their proximity to emergency services as well.
Is home insurance mandatory in Saskatchewan?
No, home insurance isn’t mandatory in Saskatchewan. However, if you take out a mortgage on your home, your lender may require you to get coverage as a condition of getting a loan.
It’s also highly recommended that you get home insurance even if it’s not mandatory, so you can protect your house and personal property in case of unforeseen events like fires and hailstorms.
What kinds of natural disasters or severe weather should homeowners in Saskatchewan be concerned about?
Several natural disasters commonly happen in Saskatchewan:
– Floods (spring melt, river flooding)
– Severe thunderstorms (hail, wind)
– Wildfires in northern and forested regions
– Heavy snow/ice during winter
– Rapid temperature change that can cause damage (e.g. burst pipes).
Does standard home insurance cover flood or overland water damage?
Generally, overland flooding is not covered by standard insurance. You will typically need a separate endorsement or additional coverage for that in most cases. However, water damage from burst pipes or sudden internal floods may be included under standard policies, depending on the insurer.
Does home insurance cover damage from hail, wind, or other storm-related perils?
Yes, most standard home insurance policies include coverage for wind, hail, lightning, falling trees or branches, and rarely cover surface water damage. Since some damages are excluded depending on the policies, check your policy to see precisely which storm-related perils are included or excluded.
Do I need extra coverage if I live in a wildfire-prone area?
It is a wise choice to get extra protection. Homes near forested or remote areas (especially in northern or central Saskatchewan) are more exposed to wildfire and smoke damage. You may need higher limits or specific wildfire/smoke-damage endorsements, but it depends on your policy.
What about winter-related damage, like ice dams or burst pipes?
Most policies cover sudden and accidental damage from ice or snow, such as burst pipes, ice dam roof damage, or collapse due to a heavy snow load. Proper maintenance (insulation, clearing gutters, and timely roof checks) can help avoid damage and reduce claims risk.
What steps are involved if I need to make a home insurance claim in Saskatchewan?
1. Contact your insurer or broker with details (photos, videos)
2. An adjuster will inspect and estimate the damage
3. If approved, you will receive a payout for your claim
Can I bundle home and auto insurance in Saskatchewan?
Yes. Many insurers offer discount bundles for combining home and auto policies. A bundle pack typically saves a significant amount in overall cost and simplifies your bills as well.
Do I need home insurance if I’m renting out my home in Saskatchewan?
Yes. If you rent out your home regularly (short-term, like Airbnb, or long-term), standard homeowner policies may not cover liabilities or damage caused while you rent out your property. You may need to find a landlord or short-term rental endorsement.
Can I insure a secondary or seasonal home in Saskatchewan?
Yes. You can get any coverage for your secondary residence. Coverage terms and premiums may vary depending on how frequently the property is occupied and the risk of damage when vacant, so it may have stricter requirements.
What are some costs or fees/taxes applied to insurance premiums in Saskatchewan?
You need home insurance before closing in British Columbia if your mortgage lender requires it. Lenders require you to get home insurance because they have a stake in your property as well.
How can I reduce my home insurance premiums in Saskatchewan?
Some strategies below might help you reduce your home insurance premiums in Saskatchewan:
– Improving home safety (e.g. installing smoke alarms, getting a fire extinguisher)
– Raising your deductible if affordable
– Maintaining your home in a good condition (roof, plumbing)
– Choosing appropriate coverage limits
– Buy bundling policies (home + auto)