Home Insurance In Toronto – Compare Cheap Quotes And Save

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 brokers 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.

Saving On Home Insurance In Toronto Starts With A Quote

We help Toronto residents get the cheapest home insurance quotes. It is what we do best, and it’s in your best interest to explore your options before you choose to rent an apartment, buy a home or condo, or invest in real estate.

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!

Toronto Home Insurance News And Blog

ThinkInsure takes pride in helping Toronto homeowners save on their home insurance and making sure they have proper coverage on their biggest asset. We update our site regularly with information and tips on insurance savings, safety, news and much more.

See more articles