Your house is your home base. It’s the place where you’re most comfortable. It’s also one of your biggest investments. It's important for Ontario homeowners to protect their home and its belongings with proper home insurance coverage at affordable rates.
There are more than 5.5 million private homes and millions of property owners in Ontario. We understand each has diverse coverage needs. Our home insurance experts will ensure you get the right policy so you can protect your home, property and contents.
It's easy to get a home insurance quote. Quickly shop and compare the best rates from the top providers and in 3 minutes or less!
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We know you want the best coverage and to get the cheapest home insurance rates.
No one wants to pay more for coverage than they have to, right? Here are 10 effective ways to get the cheapest home insurance price :
The cost for home insurance varies from home to home. There is no one size fits all formula for setting home insurance costs.
Ontario homeowners can expect to pay anywhere from $700 to $2000 per year for home insurance coverage. Average home insurance costs in Ontario vary by many other factors in addition to home value and coverage. Location, types of risks, contents, and more are all factored to set average home insurance rates.
Home insurance costs increase as home value increases. For example, you will pay less for home insurance on a $300,000 home than a $500,000 home. There is no typical home insurance cost in Ontario.
Homeowners insurance works like any other insurance product. You purchase a policy in exchange for financial protection. You have coverage for your dwelling, property, and belongings if they’re damaged or you suffer a loss.
Choose a policy and coverage that meets your specific needs. If you experience damage or loss, file a home insurance claim. Your insurer will provide you with the funds needed to repair and replace the damaged and lost belongings.
Your home insurance policy covers damage by perils such as fire, theft, vandalism, storm damage and more. Your home insurance policy provides coverage in four areas :
Homeowners also need to be aware of things that are NOT covered under their Ontario home insurance policy, including :
Your home is your castle. It’s also most people’s biggest investment they will make in life. It’s important to make you sure you protect your property. Without a home insurance policy, you’d be on the hook to cover the cost of damage.
Getting a quote for home insurance coverage is important for a number of reasons :
You’ve probably heard it before. Your home is the biggest financial investment you’ll make. For most people, it’s true. It’s important to think of how you’re protecting your home and property. Protecting your investment starts by getting a house insurance quote.
What if your home is suddenly ravaged by fire? Or perhaps it is destroyed? What if there’s a burglary and the thieves made off with your valuables? Or some other extensive damage was to occur – such as a tree falling on your home?
Now, we don’t want to appear negative – the worst is unlikely to happen. But this doesn’t mean you shouldn’t be doing the most you can to prepare yourself for all events. This includes getting the proper insurance coverage for your home, property and contents. Home insurance provides you with the protection you need when the unthinkable happens. Make sure you have the right coverage by comparing home insurance quotes.
As a homeowner, you are inherently exposed to certain financial risk. There are many threats that could cause damage. Home insurance protects against these common perils:
Its recommended homeowners insure their houses with enough coverage to rebuild if it is destroyed. There are three ways of defining adequate home insurance coverage.
A home insurance premium is the amount of money you pay for insurance coverage. It is also commonly referred to as a property insurance premium or house insurance premium. Home insurance premiums can be paid in a variety of terms and methods depending on the insurer.
There are many good times to compare home insurance quotes :
We know that saving on insurance is important to Ontario homeowners. There are plenty of ways you can save through discounts. We work with the top home insurance providers so we can find you many discounts. Here are some the top discounts available :
Combining home and auto insurance in one policy just makes sense, and it will save you dollars! Simplify the process when getting insurance quotes, filing a claim, or managing your insurance coverage.
Save by installing a home monitoring or security system.
Pay off your mortgage? Notify your insurer to get a discount.
Also own a cottage, condo, or seasonal home? Bundle all properties in the same policy and save.
Bundle your car and home coverage in the same policy to save on both.
Qualify for a discount if you owner a new build or newer home.
Get rewarded for your loyalty. Renew your policy with your current insurer to get a discount.
Save money for remaining claims free. Your discount could increase over time.
Taking steps to prevent water damage will qualify you for a discount. Add a water prevention backup system, alarm, and shut off system to save.
If you are over 50 you may qualify for a discount. Speak with your provider to see if you qualify.
Pay your policy in full and qualify for a small discount. Save on administration fees.
Your home is unique. So are your coverage needs. We’re homeowners just like you. We understand you want choice and the best rates. We have over 45 years of experience helping homeowners save on insurance in Ontario. Our experts will compare quotes for coverage from the top providers in Canada.
Homeowners choose us because we offer :
Expert Savings Advice
We have expert home insurance coverage and product training. We’ll help you create a personalized policy to meet your specific coverage needs.
Compare The Cheapest Quotes
We partner with the top home insurance providers. Quickly compare the best quotes and get the cheapest price for the coverage you need.
One Stop For Home Insurance
We provide one stop shopping for home insurance. Compare quotes from all the top insurance providers in minutes. Then we'll quickly get your home insured.
Customer service is a top priority us. Each customer gets a dedicated insurance advisor. They will take care of all your home insurance matters, including helping you with claims, making policy changes and answers your questions.
A basic home insurance policy just won’t do when it comes to protecting your home. Our team takes a personal approach to helping you with your home insurance needs.
We know your home is unique. No two properties are the same. Your home type and contents are specific to your situation. We take the time to find affordable rates and the policy and coverage you need.
There are a number of types of homeowners coverage. They are comprehensive, basic (named perils), broad, and no frills coverage. Policies include personal liability coverage. Policy specifics vary based on your coverage type and insurer.
These are general terms that may not coincide with the specific wording your insurer uses. They do highlight the fact there are different types of insurance policies you can buy. Here are the main types of home insurance coverage :
This is the most inclusive home insurance policy. A comprehensive policy covers both the building and its contents for all risks. Except for those specifically excluded. Two types of insurance risks not included are:
You carry the financial risk of some losses yourself. You can choose a home insurance policy that covers the perils specifically stated in your policy. This type of policy costs less than a comprehensive policy.
A named perils policy seems too risky. A comprehensive policy costs more than you want to pay. The broad insurance policy is a mid-priced alternative. It provides comprehensive coverage on the building and named perils coverage on contents.
Some insurance will offer very basic "no frills" coverage for properties that don't meet their normal standards. You might save money long term by correcting the problems that keep your property from meeting insurers' standards. This will then qualify you for better coverage.
You can add enhancements or riders to your policy. This is extra coverage for specific cases. You can purchase optional home insurance coverage for :
Whether you are getting home insurance in Ontario for the first time, renewing your policy, need to add a policy endorsement, want to add extra water damage coverage, or simply have questions about your coverage options, we’ll make sure you get the best home insurance for you.
Knowing if you have enough home insurance coverage can be tough to determine. You could have too little. But, you could also have too much.
Getting your home insurance needs assessed by an insurance expert is a worthwhile exercise. Get the right level of coverage, learn about your options and adjust your policy. Knowing your coverage needs will help you more effectively compare quotes and save more. Give us a call!
Here’s a list of the most commonly asked home insurance questions :
Home insurance is not legally required in Ontario. However, you will need to show proof of insurance to secure a mortgage. Plus, you will have peace of mind knowing you have coverage.
There isn’t a sole home insurance provider with the cheapest rates.
Home insurance rates depend on many factors. Insurers do not use the same formula to determine rates. Therefore, the cheapest home insurance policy could come from any insurer. Comparing quotes from multiple providers is the best way to get the cheapest home insurance rate.
The short answer is no! A credit check is a common part of the mortgage application. It is optional for home insurance in Ontario. However, if you know you have a decent credit score its worthwhile. Perform a soft credit check and you could save money on your rates by having a good credit rating. It’s just another possible way for you to save on your home insurance coverage.
While some water damage is covered, flood damage is typically not covered in standard home insurance policies. You can take out additional coverage for flood protection.
High value home insurance refers to policies and coverage that is catered to property with higher than average values. Century and heritage homes and properties with unique and custom features would fall under this category.
Yes. There is tax on your home insurance premium in Ontario. You pay HST at a rate of 8%.
No. Whether you rent out a room or your basement, you will need to add extra rental property coverage. Don’t live in the home you are renting? You will need to get a landlord insurance policy.
Yes. You can arrange home insurance coverage for your new home. Mortgage lenders require proof of home insurance before closing is final. Speak with your lender about specific policy requirements.
Home insurance premiums are generally not tax deductible, unless you are self-employed or operate a home business. If this is the case, you may be able to deduct a portion of your home insurance premiums. Talk with your accountant about your options.
Climate change and weather risks are the leading reasons why home insurance premiums are on the rise. Water and storm damage has pushed up the cost of claims. Fraud, the greater home values and building features also contribute.
No. These are two separate types of insurance coverage. Mortgage insurance covers the value of your mortgage if you were to default on your mortgage loan. You need to purchase this coverage if you put less than 25% down on your mortgage.
The Insurance Act outlines the Ontario insurance rules and regulations. All insurance policies must operate in accordance to this act.
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You never know when you could experience a loss or need to file an insurance claim. Do you have a home inventory list? Not sure where to start? Use our tips to help you build a thorough and trackable home inventory record.