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Find better home insurance in Markham

Home insurance in Markham protects your family and the place they call home. Having the right home insurance plan in place can help you and your family sleep better at night.

There is no shortage of threats to your dwelling. Even though it's not legally required, it is a form of protection that will come in handy in many situations. What happens if your home is broken into, and your stuff is stolen? Or what would you do if your home were damaged by fire, flood, or a large storm? Having proper home insurance in Markham protects your financial well-being in these and many other situations.

With Markham having some of the highest home prices in the GTA and across the province, you need to protect your investment with a good home insurance policy. ThinkInsure will help you find the best policy that will do just this and so much more. Compare Markham home insurance quotes from the top insurance companies in Canada and find the lowest rates. Get started online or speak our home insurance advisors.

How to get home insurance quotes in Markham

Compare Markham home insurance quotes from Canada's top providers in just a couple of minutes. Saving is as simple as following these steps:

1) Start your quote

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2) Enter your home details

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5-star home insurance in Markham

Rated 4.7 out of 5 stars in 1327 Google reviews

We’ve helped thousands of Markham homeowners find the right home insurance for their needs.

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Margaret Lubaszks

2023-09-21

Exceptional service by Neil Sullivan, setting up my new auto policy. Fast and smooth, very professional. Many thanks 😊 Margaret Lubaszka

Michael Francis

2023-09-18

Didn’t end up using them however found their sales team very knowledgeable and helpful.

coral moxam

2023-09-16

Called and spoke with Todd who got me the best rate ever. Thank you !

O Z

2023-09-15

Excellent service from Ryan, it is very much appreciated.

Paul N

2023-09-14

Contacted Cecilia Li , very professional and patient conversation, great customer service!

A Day With Alishia

2023-09-07

Somya and Shahid Nizam provide excellent customer service. All of my questions was answered . I would definitely recommend this company.

Tanner Duong

2023-09-02

Everthing @ Young Drivers Insurance was great .got great deals and excellent customer service from Shawn and Brian ...

Nancy McCurdy

2023-08-31

Dealing with Todd Allen was awesome would recommend him as someone who is patient and thorough applied on line and have my new policy without leaving my home. Policy is with Wawanesa a very trusted name in the insurance world would recommend this broker to anyone seeking insurance

How Markham home insurance works

Whether you live in Markham or anywhere else in the province, you follow the same rules and regulations for home insurance. They are set by the FSRAO.

Homeowners can choose from basic to comprehensive plans with the opportunity to add customized coverage. This also applies to condo insurance and renters insurance.

How much does home insurance cost in Markham?

Residents in Markham and the surrounding area tend to pay a higher rate for home insurance because of the higher overall property values in the region. High home cost increases the overall replacement value if it were damaged. This increases the cost of insurance. Markham home insurance premiums are set on a home-by-home basis so you could pay anywhere from $700 to $2,000 or more depending on your home type, size, and your plan choice. This is comparable to Toronto home insurance. Review insurance options to find the best plan for your specific situation. Comparing quotes is the most effective way to shop and save.

What affects Markham home insurance premiums?

Square brick houses and other homes in neighborhood

There is an extensive list of things that could impact how much you pay for home insurance in Markham. Some of the most common factors include:

Your location
Home size and age
Local risks (crime rate, cost of claims)
Home replacement cost
Proximity to a fire hydrant or fire station
Insurance deductible
Type of policy
Additional coverage added to your plan
Home systems (roof, electrical, plumbing, heating)
Liabilities (pool, pets, trampoline, etc.)

How to get more affordable Markham home insurance

Insurance is one of the many expenses to operate your dwelling. Reducing how much you pay can help you keep a little more money in your pocket. Here are some steps you can take to get cheap home insurance in Markham:

Comparison shop to find the best rates
Combine your home and Markham car insurance
Buy in a neighbourhood with fewer threats (lower crime rate, etc.)
Install a monitored home security system
Upgrade and renovate
Avoid over-insuring
Increase your deductible if you can do so
Pay annually instead of monthly
Inquire about discounts
Stop smoking

Markham home insurance FAQs

What are the types of house insurance in Markham?

There are four main types of home insurance plans to consider in Markham. Each one affects how much you will pay, and the type of coverage included. They are:

Comprehensive: You have coverage for most perils. Only those specifically excluded are not covered.
Broad: You are covered for most perils, but there are more exclusions than in the comprehensive plan.
Basic: You receive basic protection. You are only covered for what is listed in your plan.
No frills: This is for nonstandard homes. It is intended for homes not typically covered under other policies.

You also have the option to add endorsements to your plan to customize your level of protection. Some of the common endorsements you can add include:

Overland flooding and sewer backup
Increased plan limits
Operating a business in your house
Home sharing
Identity theft insurance
Jewellery insurance

What does home insurance in Markham cover?

Home insurance provides you with a variety of types of protection for Markham properties. If you experience damage to your property, you will be financially compensated based on your plan type. You also have liability protection if you are accused of negligence, property damage, or are liable for someone getting injured on your property. Here are some of the things covered:

Personal contents (clothing, furniture, electronics, etc.)
Dwelling structures (house, garage, shed, pergola, fence, etc.)
Fire and smoke damage
Weather events (storms, lightning, hail, wind)
Fall objects
Theft and vandalism

Are all Markham home insurance policies the same?

No. Each policy is unique for a couple of reasons. First, insurers offer unique plans. They offer different types of coverage, limits, inclusions, and exclusions. Also, each Markham resident has unique home insurance requirements. You can customize your plan by adding endorsements. This is a reason it is not advisable to buy policies based on price alone. Always consider the protection and overall value of a policy when choosing between options.

Who is the best insurance company in Markham?

There is not one home insurance company who is the best in Markham. There are many excellent home insurance providers who provide good coverage and price. They may offer different products, services, and insurance packages. Some are specialists and others are generalists. Focus on looking for a provider who can best meet your specific plan needs.

ThinkInsure works with the top home insurance companies like CAA, Aviva, Intact, Wawanesa, Economical, Travelers, Gore Mutual, Pembridge, SGI Canada and many more. Contact us to get quote and compare your options today.

About home insurance and living in Markham

Markham is a popular location for commuters. People choose to live in the area and commute to work downtown. With more than 330, 000 residents, it is the fourth largest city in the GTA. People choose to reside here for many reasons. It has become a technology hub and the home to several head offices of large companies including Oracle, Huawei, and IBM.

The city is an amalgamation of many smaller communities and new modern neighbourhoods, giving the city an eclectic blend of neighbourhoods and housing options. Whether you are looking for a new build, condo, or something with character, you can find it.

Here is a breakdown of the number and types of dwellings in the region:

Type of dwelling	Percentage
Number of private dwellings	106,131
Single-detached houses	59.30%
Apartment buildings 5+ stories	13.40%
Apartment buildings with less than 5 stories	1.60%
Duplex	5.72%
Other dwellings	27.30%

Source: Statistics Canada

Markham home expenses and insurance

Over 85% of people are homeowners in Markham. This is one of the highest percentages of ownership in the country. With an average home value of well over $1 million, residents need to protect their financial interests. Since property price is somewhat tied to how much you pay for home insurance, comparing your options and ensuring you have the right coverage in place is essential in Markham. Here is information about how much it is to live in Markham.

Item	Amount
Average home value	$1,423,965 (May 2022)
Property taxes for a $500K home	$3,150
Property tax (2020)	0.63%
Unemployment (2021)	7.30%
Homeownership	86.10%
Average household income (2016)	$89,028

Saving on your Markham home insurance is easy!

Getting the most affordable Markham home insurance is only a quote away. Compare quotes online anytime with us. A few minutes of your time can add up to big savings. Speak with our experts to find even more ways to lower your home insurance premiums in Markham.

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2023-07-28

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