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Home Insurance In Hamilton, Ontario

We know you love your home, and we’ll help you protect it. Our experienced and professional Hamilton insurance brokers have been helping local residents get home insurance in Hamilton for over 100 years. We work with dozens of Canadian insurance providers and will provide you with multiple competitive home insurance quotes tailored to your Hamilton home.

Do I Need Home Insurance In Hamilton?

Ontario law doesn’t require homeowners to purchase home insurance, however, your home is likely among your most valuable assets so home insurance is a worthwhile protection to have. Our insurance brokers strongly advise that you get home insurance in Hamilton.

Here is an example of how important it can be to have home insurance in Hamilton: If you have a fire at your home, without insurance you will have to pay 100 percent of the repair costs. When you purchase home insurance, the insurance company agrees to compensate you in case of specified unforeseen circumstances, such as fire. It’s easy to see that the amount spent on a homeowners insurance policy is reasonable when compared to potentially financially ruinous costs of paying personally for a substantial loss.

How Much Home Insurance Do I Need For My Home in Hamilton?

You need enough home insurance to replace your Hamilton home and its contents in the event you experience a loss. An insurance broker will be able to assist you to determine your home's replacement cost. We also recommend that you take an inventory of your personal belongings room by room so that you have accurate ideas of the value of your valuable items. Personal property can include clothing, appliances, electronics, furniture, and much more.

Speak with an insurance broker who will help determine how much home insurance you will need for your Hamilton home.

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Is Home Insurance In Hamilton Mandatory?

Home insurance in Hamilton is not mandatory, however, it is highly recommended that you have insurance for your home. Your home is your biggest investment. If you have a mortgage on your home, your mortgage lender will likely require you to have home insurance in place. Even if you are mortgage-free, it is recommended to have insurance on your Hamilton home.

Why Should I Use A Broker For Hamilton Home Insurance?

An insurance broker is an accredited and trained professional who is licensed to sell home insurance in Hamilton, and many other types of insurance. Insurance brokers don't work for an insurance company. They are independent and are dedicated to getting the best insurance coverage at a competitive price for their customers.

Not only do Morison Insurance brokers have access to dozens of leading insurance companies and will get multiple competitive home insurance quotes that are tailored to your specific needs, they also are readily available to answer questions, explain coverages, and provide advice to ensure your Hamilton home is properly protected.

Did you know? According to the Statistics Canada 2016 census, there were 211,590 households in Hamilton, 67.6% owned their dwelling. Single-detached houses represented 57.3% of all occupied private dwellings.

What Types Of Home Insurance Can You Get In Hamilton?

There are different types of home insurance policies available that provide different levels of coverage. These policy types include comprehensive coverage, basic and named perils coverage, broad coverage, and no frills coverage.

Comprehensive Hamilton Home Insurance Policy: This type of policy covers both the building and its contents for all risks, except for those that are specifically excluded on your policy. Insured perils that are included in a comprehensive policy include coverage for aircraft or vehicle impact, fire, lightning, theft, and broken windows.

Basic or Named Perils Hamilton Home Insurance Policy: This type of insurance only provides coverage for perils that are specifically outlined on your Hamilton home insurance policy.

Broad Hamilton Home Insurance Policy: This type of policy provides comprehensive coverage on the big-ticket items, such as the building, as well as named perils coverage on the contents.

No Frills Hamilton Home Insurance Policy: This type of insurance policy provides coverage for properties that don’t meet normal insurance standards.

Not sure which type of insurance policy is best for you? Contact a Morison Insurance agent who will explain the different home insurance types, coverages, additional protection options, exclusions and policy limitations, as well as how you can report a claim quickly should one occur.

What Does Hamilton Home Insurance Cover?

Hamilton home insurance will provide coverage for your dwelling, other structures on your property such as garages and sheds, personal property such as clothing, furniture, and electronics, and liability coverage for injuries or damage to someone else's property.

Want extra protection for your Hamilton home? Additional coverage options are available. Speak to our Morison Insurance agents where we will walk you through the additional coverages available to ensure your home is properly protected.

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What Risks Are Not Covered By Home Insurance In Hamilton?

A standard Hamilton home insurance policy will not cover earthquakes, frozen pipes, vacant properties, damage from poor upkeep of the property, and certain valuables up to a specified limit. Additional coverage can be added for some of these risks for extra protection and to ensure your home is covered. Speak to a licensed insurance advisor who will help ensure your home is protected.

How Much Does Home Insurance In Hamilton Cost?

The average cost of home insurance in Hamilton can range between $717 and $3,570 annually for homes with a replacement cost of $300,000 to $550,000. The cost of home insurance is dependent on many factors including where your home is located, the square footage of the home, the physical structure of the home, the age of your roof, the type of electrical, plumbing, and heating in the home, your claims history, and much more.

Shown below are some examples of annual premiums for Hamilton homes from quotes provided for general information. Please note that the prices below will vary depending on your personal circumstances. Speak with an insurance broker who will get you a competitive insurance quote that is best tailored to your individual insurance requirements, and will make sure you get all the discounts that you qualify for.

HOME REBUILDING COST APPROX. PRICE (per year)
< $350,000 $717 - $908
$350,000 - $550,000 $908 - $1,898
$550,000 - $750,000 $1,336 - $2,696
> $750,000 $1,719 - $3,570

*Each quote above was provided with the assumption that there is no more than one mortgage registered to the property.

How Can I Reduce the Premium For My Hamilton Home Insurance?

You can reduce the premium of your Hamilton home insurance by increasing your deductible, keeping your claims number low, bundling your home and auto insurance with the same company, and having house insurance discounts applied to your policy.

Tip #1: Increase Your Deductible

The deductible is the amount of money when you file a claim that you will have to pay personally before the insurance company covers the remainder of the costs of a claim. You can choose the amount of your deductible when you purchase your insurance. A higher deductible can lower your insurance premium because it indicates that you are willing to take on a larger part of the risk and it will lower your insurance premium.

Tip #2: Keep Your Claims Number Low

A good claims history, having none or few claims, can also help to lower your insurance premium. It’s the number of claims that is most important. Sometimes it’s better to not make a claim on a relatively small loss because fewer claims can, in the long run, save you money with lower premiums.

Tip #3: Bundle Your Home And Auto Insurance With The Same Company

By buying your home and auto insurance with the same insurance company, you can receive substantial savings. This is called a multi-policy discount and it is a good option to help lower your insurance premium.

Tip # 4: Hamilton Home Insurance Discounts

There are many home insurance discounts available that can be added to your Hamilton homeowners insurance policy. It is important to note that discounts will vary based on the insurance company, but if you work with a Morison Insurance broker who has access to a wide range of insurance providers, you can have peace of mind knowing you will receive all discounts you qualify for.

Some of the most popular Hamilton home insurance discounts include:

  • Having a monitored burglar alarm
  • Having a monitored fire alarm
  • Making improvements to your home such as upgrading the wiring or plumbing, installing a new roof
  • Being mortgage free
  • Being claims free
  • Having water mitigation such as a sump pump or back flow valve
  • Being a non-smoker
  • Retiree discount
  • Loyalty discount

Why Is Home Insurance In Hamilton So Expensive?

Home insurance in Hamilton is not really any more expensive than in other communities in Ontario.  The variables that are applied to determine the costs of home insurance in Hamilton are similar to those in other communities.

Luckily the Hamilton area has not suffered devastating floods or wildfires that many communities in Canada have endured and which negatively impact insurance premiums.

The important thing to be sure you are getting a good price for homeowners insurance is to shop at several insurance providers for a variety of coverages and prices. With one call, we will do this insurance shopping for you.

Where Can I Find Reviews Of Hamilton Home Insurance?

There are several places to find reviews on brokers that provide home insurance in Hamilton. Be sure to check out Google, Facebook, and Yellow Pages where you will read feedback from actual insurance customers.

hamilton home insurance google review

5-star Google review posted by Hamilton resident, Beth A.

In Hamilton, Do You Need A Home Inspection For Insurance?

In Hamilton, you generally do not require a home inspection to receive insurance, however, certain exposures (like wood fireplaces and aluminum wiring) may require you to have an inspection. Speak with a Morison Insurance broker who will help determine if you require a home inspection.

​​​​​​​What Are The Benefits Of Having an Insurance History in Hamilton?

Having a continuous history of home insurance in Hamilton shows the insurance company that you are willing to manage the risks you take on by owning a Hamilton home. Continuous insurance for several years without any claims may result in a lower insurance premium as it shows the insurer that you are properly managing your risk to prevent losses.

When Should I Get A Home Insurance Quote in Hamilton, Ontario?

The best time to get a Hamilton home insurance quote is before your insurance policy renewal date or before your new home’s closing date. Beyond that the choice of timing is yours. Some people like to shop for home insurance several weeks before their insurance renews or their new home’s closing date. Other people want insurance quickly.

If you want to take your time, discuss quotes, details, and options, we are at your service.  If, on the other hand, you are looking for insurance quickly, we happily provide this too. We will provide you with excellent insurance and customer service the way you want it.

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Is There a Fee For Getting an Insurance Quote in Hamilton?

No, there is no fee to get an insurance quote in Hamilton. A Morison Insurance broker will provide you with multiple free no-obligation quotes from different insurance providers to ensure you have the best insurance coverage at a competitive premium.

How Do I Get a Hamilton Home Insurance Quote?

You can get a home insurance quote for your Hamilton home by contacting Morison Insurance. We will ensure you receive the best insurance coverage at a competitive rate. Get started today by calling us at 1-800-463-8074 or by filling out the form on this page. You'll be so glad you did!

 

This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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