Square One Insurance Home Insurance Reviews

I bought an insurance policy with them for one year due to the allure of buying only what I need for coverage. After one year passing by, my rate skyrocketed by 2-3x the original price. No claim history on my policy. Square One’s tactic is to get new customers in with cheap monthly pricing. When it’s renewal time, they hike up the price... with the price being way more expensive. I do not buy insurance from them anymore.

I have been with SquareOne for the last four years. Last year, when I went from a rental to a condo, they readjusted my policy for the new place. The cost was almost double which I thought just made sense given that there are additional items to insure when it came to a condo (~$95/m).

Recently, my policy is up for renewal again so I started doing some shopping. Sonnet gave me a quote of ~$50. I thought there was something wrong so I called Sonnet. They walked me through the comparison and the coverage was the same. After that, I called SquareOne to complain and they lowered my policy $30 to $65 the same day. Normally I would be happy about this but I found it very strange they were able to do that so quickly. Tells me they were gouging me. I will likely be moving onto Sonnet.

My experience with this insurer was really good when the policy was being designed and sold. It’s easy to customize the policy and make changes using the online system. At claim time it was not so great. The company uses independent local adjusters. For our fairly small and straightforward claim following a break in the process from claim to payout took months. When I spoke with the insurer on the phone they just referred me back to the adjuster. The adjuster meanwhile just told me they had submitted the claim. It became very frustrating as nobody could explain what was causing the delay. They got there in the end but it was a poor experience.

I have been insured with the company for a few years now. Their premium may be competitive at first. But that is more of a bait. Unlike other companies that lower the premium for claim-free clients as a reward, they jack up prices at a rate of about 10% annually. I have decided to switch at some point.

I had an insurance adjuster came to my home to see if I was eliable for a claim. (I had not made a claim yet).

An hour late found my policy has been cancelled by the underwritter without any explanation.

Unfortunate

-S