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Vacant home insurance in Canada
Most of the time, when you buy a home, you plan to live in it. However, there are certain situations where a property may remain unoccupied. Leaving a house vacant comes with certain risks. Insurance for a vacant home can help you reduce those risks and deliver peace of mind.
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Frequently asked questions about vacant home insurance in Canada
Where can I get vacant home insurance?
Not all insurance companies offer vacant home insurance, since it's a high-risk proposition. Talk to your insurance provider or broker to see what coverage is available to you.
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Home Insurance*Shoppers in Ontario who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 30% The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes condo and tenant insurance.
Government of Canada programs to support homebuyers in 2024
May 2, 2024
11-minute read
This article has been updated from a previous version.
It’s no secret that Canada’s housing market is feeling the effects of high inflation and Bank of Canada’s nine successive interest rate hikes.
About the author
H.G. Watson is a writer based in Toronto. Her work has appeared in Chatelaine, Vice, Flare, Maisonneuve, The Walrus and more. You can find her at @hg_watson on Twitter.
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Historical mortgage rates: Averages and trends from the 1970s to 2024
family in the background entering a home that has recently been sold
From ultra-high rates in the early 1980s to the record lows Canada saw during the pandemic, interest rates are always in flux. Here's a closer look at how five-year fixed conventional mortgage rates have changed over the last 50 years.
April 9, 2024
9-minute read
This article is updated from a previous version.
From ultra-high rates in the early 1980s to the record lows Canada saw in 2021, mortgage interest rates are always changing.
The Bank of Canada sets the country’s overnight lending rate, which is used as a benchmark by banks and other lenders when setting the prime rates they offer customers on variable-rate products, like a variable mortgage, for instance.
About the author
Jane Switzer is a writer, editor and native Torontonian. She got her start working in daily journalism, and was formerly a content manager for LowestRates.ca. She has written about personal finance and investing for websites like Wealthsimple, Tangerine Bank and Ratehub.ca. You can find her on Twitter: @janeswitzer.
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What to do if your mortgage loan application is denied
A denial isn’t necessarily a dead end. Consider it more of a hurdle. With some careful planning, you can ensure that y... Read more
