Getting Cheap Toronto Home Insurance Quotes Is Easy!

Use A Toronto Home Insurance Calculator

Home insurance calculators are a valuable tool to use when comparing homeowners insurance options.

Using a Home Insurance Calculator can help you understand Toronto house insurance costs and save money. It will also save you time and give you a better idea of your insurance options. You can use it for all types of insurance, it’s easy to use and best of all, it’s free!

What Is The Average Toronto Home Insurance Cost?

The average cost for home insurance in Toronto varies greatly. You can expect to pay anywhere from $700 to $2000 annually for homeowners insurance.

There are many factors that will impact the cost of Toronto home insurance :

• Property value
• Type of dwelling
• Location
• Coverage type and limits
• Added policy endorsements
• Personal contents
• And many other factors

Does Where You Live In The Toronto Impact Your Home Insurance Rates?

Just like with your Toronto auto insurance coverage, where you live has an impact on your home insurance rates. But we have some good news. We can help you compare home insurance options for the Toronto neighborhood where you live, including:

• Old Toronto : Notable neighborhoods include the downtown core, Harbourfront, The Beaches, Midtown, East Danforth, Yorkville, Casa Loma, Bloor West Village, Liberty Village
• North York : Don Mills, Downsview, Hillcrest Village, North York Centre, Parkwoods, Uptown Toronto, York Mills
• Scarborough : Cliffside, Eglinton East, Golden Mile, Morningside, Port Union, Scarborough City Centre, Steeles, Wexford
• Etobicoke : Centennial Park, The Kingsway, Mimico, Rexdale, Islington City Centre West
• York : Eglinton West, Oakwood-Vaughan, Old Mill, Weston
• East York : Broadview, Pape Village, Danforth, Leaside, Woodbine Heights

Before you move or purchase a home, it’s always a good idea to get a home insurance quote in Toronto to compare rates. Home insurance is just one of the many factors to consider when moving or investing in real estate in the GTA.

Other factors that can also impact the overall cost of your insurance policy include the cost of your home, your home’s primary use, your home’s age, type of heating and electricity, size, and your home’s contents. For example, having items like a pool or trampoline, or running a business out of your home will increase your rates.

Want to see if you can lower your Toronto home insurance rates? Contact us today, and one of our experts will be happy to help you get the cheapest rates for home insurance.

The Cost Of Living In For Toronto Homeowners Is Expensive

Canada’s largest, most populated and diverse city covers 641 square kilometres. It stretches 43 km from east to west and 21 km from north to south at its longest points, providing residents with no shortage of areas to look for housing in its many unique and diverse neighborhoods.

Toronto is also one of the most expensive cities in which to live. On average, to own a home in Toronto, annually you will pay :

• More than $4000 in property taxes
• $100 - $200 per month for hydro
• $125-$150 for gas
• Up to $750 per year combined for water, sewage and garbage removal
• Average monthly mortgage payment of $2500

This still doesn’t account for the 1-3% of your home’s value in maintenance costs each year. Needless to say, it’s expensive to own a home in Toronto.

What about renters? The average monthly cost of renting a one-bedroom apartment in Toronto is $1,456.33, or $2,677 for a three-bedroom apartment, according to numbeo.com.

For this reason alone, it’s important to shop around and look for ways to save on your cost of living, with home insurance being one of the best ways to save. Cutting costs on things like home insurance and energy bills will help you save more money overall.

If you have a mortgage, then you are required to have home insurance in Toronto. Even if your home is completely paid off, home insurance provides you with that added level of protection to give you peace of mind in knowing your property and personal belongings are covered.

Get The Best Home Insurance In Toronto

Getting the best home insurance in Toronto is subjective. Coverage that is ideal for one household may not be the best for another. This is why we take the time to ensure you get the personalized home insurance coverage to meet your unique needs.

Whether you need a standard policy, want to add extra water damage coverage, want to increase your liability coverage or have valuables that require a policy endorsement, our team will make sure you get the coverage you need to have peace of mind. The best home insurance coverage is only a call away.

Compare Quotes From Top Home Insurance Companies In Toronto

At ThinkInsure, can compare quotes from all the top insurance companies in Toronto. This means you have more home insurance coverage options, and a better chance to lower your home insurance rates. Here is just a sample of the insurers we can get quotes from :

• Aviva Insurance
• Economical Insurance
• Intact Insurance
• Travelers Insurance
• Pembridge Insurance
• Wawanesa Insurance

Toronto Home Insurance FAQ

We know your home is important to you. You want to do what it takes to protect it. Naturally, this will lead to questions about getting quotes, coverage, claims, and other home insurance topics. Here are some of the most frequently asked questions about Toronto home insurance coverage:

How Much Is Home Insurance In Toronto?

Home insurance costs vary based on many factors. Your home size, replacement value, location, and more are all factored into Toronto home insurance costs. Get a home insurance quote to determine how much home insurance will cost for your specific home.

How Do I Get Cheap Toronto Home Insurance Rates?

The most effective way to get the best home insurance rates in Toronto is to compare quotes annually. Review your policy when it is up for renewal and compare quotes to find additional cost savings.

Is Toronto Home Insurance Mandatory?

Home insurance protects your home, your belongings and the people you love. But it is not required by law. Banks, financial institutions and mortgage lenders commonly require you to have home insurance in order to qualify for a mortgage. In this sense, it is mandatory.

Is Home Insurance In Toronto Required?

If your home is fully paid off, you are not required to have coverage. However, without coverage, you are exposed to greater financial risk if damage is caused to your home.

Why Do I Need Home Insurance in Toronto?

You need home insurance to protect yourself against common risks and liabilities. Storm damage, theft, vandalism, and even a slip and fall accident could have a major financial impact on you if you didn’t have home insurance coverage.

How Much Home Insurance In Toronto Do I Need?

Home insurance needs vary. Some homeowners require basic coverage, while others require higher coverage limits and specialized policy endorsements to cover high value items. Get a quote and speak with an insurance professional about your Toronto home insurance needs.

What Main Factors Determine Home Insurance Cost In Toronto?

There are many factors that impact the cost of home insurance in Toronto. Some of the main factors that impact rates are your homes replacement cost, your neighborhood, renovations and upgrades, roof condition, plumbing and electrical system, and your claims history.

Are There Different Types Of Home Insurance Policies in Toronto?

Home insurance policies are often customized to meet your specific coverage needs. In general, there are four types of home insurance policies to choose from – comprehensive, basic/named perils, broad coverage, and no frills coverage. You can also add endorsements to your policy for additional coverage.

How Do You Get Quotes From The Best Home Insurance Companies In Toronto?

The best way to get home insurance quotes from top home insurance companies in Toronto is to work with a broker. They allow you to compare quotes and coverage options from multiple insurers to find the best rates.

What Protection Does Toronto Home Insurance Provide?

Home insurance covers you in four main areas - personal property, building and detached structures on your property, legal liability, and additional living expenses. Additional coverage for high ticket personal items can be added to your policy.

What’s The Cheapest Home Insurance In Toronto?

The cheapest home insurance is getting basic coverage for your home. However, even though it’s cheaper, you will have less coverage, lower coverage limits, and you will be exposed to more risk. Make sure you have enough coverage and don’t always shop for home insurance based on price alone.

How Do I Get The Cheapest Home Insurance Rates In Toronto?

Getting a home insurance quote is the most effective way to get cheap home insurance in Toronto. Comparing quotes allow you to see your options from multiple insurance companies.

Does ThinkInsure Assist With Toronto Home Insurance Claims?

Absolutely! Our team will happily assist you with Toronto home insurance claims. If you suspect you need to file a claim, give us a call and we will help you determine your best course of action.

Get A Toronto Home Insurance Quote Today

Are you ready to shop for Toronto home insurance? Work with ThinkInsure to find the cheapest home insurance rates and the best coverage. Getting a quote can save you hundreds on your home insurance policy.

Ready to get the cheapest Toronto home insurance quotes? Compare online or call toll-free  1-855-550-5515 and start saving on your home insurance!