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Home Insurance
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Best Home Insurance Rates in Ontario
Your personal isure insurance broker understands your home insurance needs, and can help improve your coverage and discover new discounts.
We understand that your home is your castle, and has deep personal importance to you and your family. You have probably sunk more investment and sweat into it more than anything else in your life. When your home experiences issues, that stress translates to you as well. That’s why we work hard to make sure your home, your family, your lifestyle, and your mind and soul are at peace with the proper home insurance coverage.
Our Ontario home insurance brokers provide you fast, friendly and better insurance on your home, ensuring that you aren’t surprised by the fine print in policies or a short-term discount, only to see your rates climb in future. If your insurer tries that, we will find another insurer for you!
Let us do the shopping to find you the best Ontario home insurance rates and coverage in the marketplace! From basic coverage to high-risk options, we’ll contact over 25 of the largest certified insurers and have them compete for your policy.
What Does Home Insurance Cover?
Homeowners have a lot on their plate, and finding the right home insurance policy must be prioritized. Coverage is a must, and here at isure, we will ensure that you have the protection that you and your home require.
We care about our clients and want them to have a thorough understanding of their home insurance policies, so we will take the time to discuss exactly what is covered and will address any concerns you may have. We’ll answer all of your questions and double-check that your policy reflects your needs.
Home insurance is mandatory because it will provide you with financial protection in the event of damage to your home and belongings. Your coverage would help pay for repairs or replacements in your home, and it’s important to understand what your insurance will cover so that you don’t run into any surprises. Liability coverage, dwelling, property damage, and other additional coverages are available, discussed in more detail below. Additionally, you can purchase additional coverages if you require more protection.
Damage caused by fires, lightning strikes, windstorms, and hail is covered by your liability coverage, although not all-natural disasters are included in your policy. Dwelling protection would help cover the structure of your home, and liability coverage can be used in the event that someone not living in your home gets injured on your property. You should also note that home insurance is not just there to help cover damages to your home and may also provide coverage for your personal belongings inside your house. This means that if items were to be stolen or if a fire damages the furniture inside your home, you would be protected and/or your insurance policy may be able to help you pay for replacements.
According to the Insurance Bureau of Canada, the most common perils include:
Lightning
Explosion
Fire
Falling objects
Theft
Aircraft or vehicle impact
Smoke
Electrical current
Don’t worry, if you are not sure which perils are relevant to your area, your isure broker can help! We have helped residents all over Ontario secure high-quality home insurance policies that cover everything they need.
What isn’t covered by your Home Insurance Policy?
Home insurance is a must, and while it’s important to understand what your policy covers, it’s equally as important to be aware of the perils that your home insurance policy will not cover. Knowing this information will prevent any unwanted surprises, and the experts at isure can provide you with clarification.
It’s important that our clients feel comfortable with the information they’re being presented with, so we will take the time to discuss the areas that are not covered and answer as many questions as you have. We will provide you with every detail to have a thorough understanding of your policy and make changes based on your needs and requests.
Vacant properties, for example, are not covered by home insurance, and your policy would not be able to help if damage occurs on a property that has been vacant for a certain number of days. You need to understand that vacant is not the same as unoccupied, and applies whenever there’s no furniture on the property. For example, if your family is going on a long holiday and something were to happen to your home while you were absent, your policy would still apply in this case. Failure to maintain your home is another area that is not covered because poor upkeep is at the fault of the homeowner. For example, if you fail to fix broken appliances and make a claim for water damage, your policy will not cover damages.
Certain valuables will not be covered, and there may be a limit for any one item in terms of what you can claim. This means you would not be able to claim any amount you want for stolen cash or art, as most insurance policies have a maximum amount that homeowners are allowed to claim. If you have a precious art or extensive jewelry collection, you can purchase higher coverage limits.
Home sharing and wear-and-tear are also not covered. Our brokers at isure would be happy to provide you with more information regarding what your policy does and does not cover. Give us a call today!
What are the categories of home insurance?
When you shop for home insurance, you may come across three different types of home insurance policies, although they can be updated with custom perils and options.
Standard or Basic
This type of home insurance policy will be different, depending on where you live and the insurer you buy it from. But it will generally cover damage that occurs from the weather (hail, wind, lightning) or fire. The perils that are covered in a standard or basic policy will be listed clearly and will only cover those specific perils.
Broad
As the name suggests, this type of home insurance provides broad coverage for your home. This coverage will include everything in the standard insurance policy, as well as other perils such as vandalism and theft. It can also cover unpredictable events like a burst or frozen pipes. Be sure to check with your isure broker to see what perils are (and aren’t) covered in your policy.
Comprehensive
This is the most robust type of home insurance coverage because it covers most perils. However, there may be some that it won’t cover. A comprehensive home insurance policy is recommended for those who want almost any damage to their home to be covered.
How Is Home Insurance Calculated?
Much like with your auto insurance, there is a lot that goes into the amount you pay for your home insurance. As an example, a person living in Nepean will most likely pay less than somebody living in Mississauga.
Here is a quick breakdown of what generally goes into determining the cost of your home insurance:
Your home’s characteristics
The size, age and condition of your home will play a big role in determining your home insurance rate. Big houses will generally be more expensive than smaller homes, and newly-renovated homes will have a better rate than a home that is outdated.
Where your home is located
As mentioned above, the city where you live will play a big role in determining your home insurance rate, but the area surrounding your home will also affect the price. If you live near a fire hydrant or if you live in a safe neighbourhood, your insurance rate may be lower.
How your home was constructed
If your home was built using high-quality and expensive materials, then the insurance will be more expensive as those materials will need to be replaced in the case of irreparable damage.
FAQS ABOUT HOME INSURANCE IN ONTARIO
Do I need to purchase home insurance?
In Ontario, it is not required to get home insurance, but it is essential if you want to secure a mortgage (and to protect your investment!)
Are there other ways to save money on my home insurance policy?
Of course! If you bundle your home and auto insurance, you can save up to 15% on both policies! Give isure a call today to start the process of bundling your insurance!
How do I save on Home Insurance?
Every homeowner needs insurance, and the experts at isure can provide you with the best rates out there. We are happy to discuss your needs and the different policies that would be suitable for your home because we care about our clients and genuinely want what’s best for them.
We’ll explore the different steps you can take to save on home insurance in Ontario. Once we start shopping the market, you will notice that our company takes pride in providing the best rates out there. Our knowledgeable brokers will work to offer you the lowest quotes, and our policies will provide you with the coverage that you need.
Another option you can consider is to increase your deductible, which is essentially the amount you agree to pay towards the total amount of your insurance claim. Most home insurance policies carry a deductible, and it may be possible for you to reduce your premium by increasing it. The installation of a smoke detector, alarm system, carbon monoxide detector and deadbolt locks can further reduce your insurance premium, so let’s discuss improved security in more detail. We also recommend that customers pay their premiums annually rather than monthly, as this can help you save even more!
isure recommends that you combine home and auto insurance coverage with the same company to further your saving potential. There are discounts available for bundling insurance policies, and we’re happy to provide you with more information to check if you’re eligible to bundle.
isure Home Insurance Means
Control Over Your Policy
You’re on the insurance throne. Register your policy and manage, change, and update it quickly.
Personalized Attention
Your personal, dedicated and online isure broker is there when you need us. We’re a phone call, live chat or email away from helping you. We’ll even call pre-emptively to check in when disaster strikes your neighborhoods.
Insight and Attention
isure is your online insurance expert, providing trustworthy, transparent and knowledgeable expertise, both online and offline. We’ll give you objective advice on how much coverage you really need, and what your insurance policy covers.
iSavings
Between all of our isure-approved insurers, we boast one of the longest lists of home insurance discounts compared to any other broker online. Our competitive bidding saves you money with no sacrifice on coverage. We’ll also tell you how to reduce your premiums by taking safeguards.
Responsive Claims
A tree falls through your roof in the middle of the night? House broken into on a long weekend? No problem! Our claims response line is open 24 hours a day, seven days a week. We’ll get your claim moving immediately while guiding you through the process.
Get the leading insurance policies with the best personalized options you deserve.
isure Optional Add-Ons
Customize your Home Insurance to suit your unique needs and preferences with additional add-ons.
Claims Free
Bad things happen, even to good homeowners. That’s why isure will give you advice on how to best protect your claims free discounts.
Your Possessions Saved
Your personal property is covered anywhere in the world, and with Contents Replacement Cost, subject to loss settlement, pays for the cost of repair or replacement without deduction for depreciation.
Water Damage Protection
Changing weather trends, bigger storms and more rain are all having an impact on homeowners. Protect your home with sewer backup coverage and new overland water protection.
Household Liability
Pays when you’re legally liable for someone else’s bodily injury or property damage resulting from an accident or negligent act(s) by you or household members, at home or away from home. This also includes the misbehaving acts of your pets.
Medical Coverage
Pays medical costs for people injured at your residence (other than residents of your household), regardless of liability.
Ongoing Living Expenses
Covers additional living expenses up to 24 months depending on your policy type, this covers additional living expenses up to 24 months if a covered loss makes your home unfit to live in.
Identify Theft Protection
State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of important documents.
Additional Valuables Coverage
Scheduled and unscheduled coverage of important valuables are available for items like
art, jewelry, collectibles and more.
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