How to find the right home insurance in Ontario

What Is Home Insurance In Ontario?

Home insurance is protection for losses to your home, property and possessions. It includes liability protection if someone is accidentally injured while on your premises.

Is Home Insurance Mandatory In Ontario?

Home insurance is not mandatory in Ontario, however, it provides protection for your single largest investment, your home, so that if in the event of a loss, you are not required to pay out of pocket.

Why It's Good To Have Home Insurance

Example 1:

You’re cooking dinner and a fire starts on the stove. Your kitchen is badly damaged and so is the entire main floor of your home. The repair costs will be many tens of thousands of dollars. Without home insurance you will have to cover the entire cost of repairs yourself.  Wow! It quickly becomes clear why Ontario home insurance – which often costs about $800 to $3,200 annually for most homes – is good to have.

Example 2:

You have a diamond ring that’s worth $50,000 and someone breaks into your home and steals it. With the right home insurance, you can be covered for this loss. If, however, you have not obtained expert advice about jewellery coverage limits on most home insurance policies, you may find your ring is only insured to a limited amount. You could be left without enough coverage for your ring.  You may only get $6,000, which is the usual limit on homeowner’s insurance if you haven’t purchased extra coverage.

Both of these examples demonstrate the importance of not only having homeowner’s insurance but also the importance of having the right home insurance to fit your lifestyle. An insurance broker is trained to explain the details of home insurance, coverages and costs, and will help you get insurance to meet your needs.

Buying A New Home?

Another important note on Ontario home insurance is that most financial institutions require proof that you have house insurance before they will lend you money to purchase your home. The home insurance is security for the mortgage or loan on your home.

Why Is Home Insurance Important?

Home insurance is important because it protects your financial interest in your home in case of a loss. It protects your residence, out-buildings, contents and your personal liability. It can also provide you with additional coverage if you need to reside elsewhere while your home is being repaired following a loss.

What Does Home Insurance In Ontario Cover?

Home insurance in Ontario protects your residence, detached buildings, your belongings, and your personal liability exposure. Home insurance is for homes, condos and rental units and properties.

Be aware that coverage can vary depending on the type of policy and the insurance company. House insurance can include coverage for additional items and features of your home and property. These can include items such as fences, and collections such as jewellery and art collections. Home insurance can also cover identity theft, fire department charges, credit cards losses by theft for unauthorized use, freezer breakdown, lock repair and replacement, mass evacuation, lightning damage, coverage for a student away from home, sewer backup, earthquake floods – even damage by aircraft vehicle impact.

House Insurance - Morison Insurance - Ontario

What Type Of Home Insurance Is Purchased Most Often?

There are several types of homeowner’s insurance in Ontario, however, most people purchase comprehensive home insurance. Comprehensive home insurance protects you against more perils than other kinds of home insurance policies. Essentially, you are covered for perils except those listed as excluded on the house insurance policy. Among the perils that are excluded are water damage, floods, earthquakes, damage caused by neglect or regular wear-and-tear and damage caused by pests such as birds or rodents.

A comprehensive homeowner’s insurance policy will cover your home, your detached structures such as sheds and garages, your possessions and your liability exposure if someone is accidentally injured while on your property.

It’s super important to know what is covered and what is not covered by your home insurance policy before you purchase it.  This is why you should speak with an insurance broker who is trained to guide you through the process of purchasing home insurance. An insurance broker will ask you about your home and your insurance needs. Home insurance is not one-size-fits-all. Everyone’s situation and insurance needs are different. Be sure to get home insurance that suits you and meet your protection needs.

How Much Home Insurance Do I Need?

You need enough home insurance to cover the cost of rebuilding your house should it be damaged beyond repair by fire, coverage for your personal belongings and liability coverage. You may need to purchase additional riders and endorsements depending on the amount of coverage – insurance protection – you want. For example, you may want to purchase water damage coverage. Water damage to homes is on the rise. It is, in fact, the number one threat to your home. Many insurance companies offer enhanced water damage coverage for homes in case water enters your home.

Details On Water Damage And Your Home

Why is water a threat to homes?  Climate change is causing more extreme weather events and increased water damage. For this reason, you can purchase extra home insurance coverage to protect you in case of damage by water to your residence.

With quick and heavy spring thaws, major rain storms and other damaging water situations occurring with greater regularity, many Ontario homeowners should have extra water damage insurance protection, notes Aviva Canada, one of Canada’s largest insurance companies. About 40 per cent of all home insurance claims are the result of water damage, notes data from Aviva Canada.

“With so many Canadians making a significant investment in their basements as more of a comfortable living space than a grungy storage room, a greater value in belongings in an exposed area of the home has led to an increase in number of water damage claims,” Aviva’s vice president of Property Claims said several years ago.

Insurance industry magazine Canadian Underwriter wrote that the average cost of water damage claims rose 117% over 10 years to more than $15,500 in 2012, citing statistics from Aviva.

The company paid out more than $111 million in property water damage claims in 2012 alone, notes the magazine article.

A basic home insurance policy usually covers accidental water damage, such as when a bathtub or sink overflows, a pipe springs a leak, or a washer or dishwasher leak causes water damage. Water coverage can be enhanced by purchasing coverages for ground water and sewer backup, pools, hot tubs and above-ground water.

Water damage is among the topics an insurance broker will discuss with you when you look for homeowners’ insurance in Ontario.

When To Shop For Home Insurance?

You should shop for home insurance when you are purchasing a new home or when your insurance policy is coming up for renewal. An insurance broker can help you to get the right coverage for your individual needs. We will get you several free home insurance quotes from different insurance companies across Canada to ensure you receive competitive prices. We will talk to you about your home, explain important details, and review costs and coverages. We will also get you all of the home insurance discounts you qualify for.

How To Choose Home Insurance In Ontario?

When buying home insurance, look for an insurance broker with a great reputation and one that sells a variety of personal insurance products in addition to home insurance.

The reason for choosing an insurance broker with a great reputation is obvious. You want to deal with Canada’s best insurance companies who have a reputation for outstanding customer service. Online customer reviews are a quick and solid way to find a brokerage with a solid reputation. Google, Yellow Pages and Facebook are good sources for online reviews from customers. According to a digital services expert, when a company has more than 30 reviews you can be sure that the reviews are authentically representative of the company’s performance.

Also choose a broker that has won awards. Award-winning brokers have recognized and established reputations for being great at what they do.

The reason for choosing an insurance broker that provides a variety of insurance products to serve all of your needs is because this broker can insure your home AND your cars, trucks, recreational vehicles, second or summer residences, travel trailer, business and other items you may have. There are benefits for you when you deal with one broker. When you have several items with the same insurance company a broker can often apply more money-saving insurance discounts. Insurance discounts can add up to a sizable amount of savings.  Also, having all of your insurance with one broker can be simpler – convenient, easier and faster. You get to know your broker, renewal dates can be streamlined, you only need to contact one broker to ask questions and make changes when needed.

Ontario Home Insurance

Where To Buy Home Insurance In Ontario?

You can buy home insurance from an insurance broker. An insurance broker provides expertise, independence, and price and coverage options that are focused on getting the best insurance for you.

There are thousands of insurance salespeople in Ontario. It’s important to select the right broker to look after your insurance.

Insurance agents and sales people from banks will provide you with one insurance option and price. They shop for insurance at one company only – the one they work for.

Insurance brokers are different. We work for you. We are independent. We do not work for one insurance company. We represent several insurance companies and we will shop at these companies to get you several prices with several home insurance quotes Ontario. We will review the home insurance quotes with you and discuss the details. You can choose which policy meets your price requirements and coverage needs.

This is only one of the advantages of working with a broker.  For more about the advantages of working with a broker, read our details below or check out the Insurance Brokers Association of Canada.

Consider An Insurance Broker

You may have heard the saying that Your Best Insurance is an Insurance Broker. This is absolutely true.

Your best opportunity to get the best insurance is when you speak with a trained and licenced insurance professional – these are brokers. Every insurance broker in Ontario is trained and licenced, and must complete on-going insurance education every year in order to sell insurance in the province. Further, and equally important, insurance brokers do not represent any one insurance company. They will shop at several insurance companies on behalf of their customers to get them the right coverage based on their lifestyle AND at competitive prices. This is worth repeating: An insurance broker works for you – the customer. We do not work for a company and only sell their products. We shop the market. We shop to help you get the insurance you need at a good price.

Advantages Of Working With An Insurance Broker:

  • TRUST: Insurance brokers have your best interests in mind. We are not working for an insurance company. We work for you.
  • ADVICE: We have the expertise to provide you with valuable advice when making decisions about your insurance. We know insurance can be difficult to decipher sometimes. There are lots of insurance terms, exclusions and other features that can make insurance complicated. We are here to explain, discuss and help.
  • CHOICE: You get to choose which insurance company you buy your insurance from. Insurance brokers represent several different insurance companies. We will ask you about your insurance needs and provide you with options and choices of which insurance company meets your needs in terms of protection and price. You get to choose. With agents and banks, you will get one price only from the company the agent or bank salesperson represents. With insurance brokers you choose the insurance and price that’s best for you.
  • SERVICE PROVIDED YOUR WAY: Would you prefer face-to-face conversations with your broker, discussions by phone, text messaging, or service by email? Maybe all of the above. You tell us how you would like to be served and we will provide service your way.
  • EXPERTISE: Insurance brokers have the expertise and know-how to make sure you are protected. We are trained in risk assessment and protection. It’s good to know that your insurance broker is required to continue learning each year in order to keep their Ontario insurance broker licence. This ensures that brokers are well trained to serve their customers.
  • INDEPENDENCE: We are independent. We don’t work for an insurance company. We work for you. We shop at insurance companies to get you competitive prices for insurance products.
  • OUR SERVICES ARE FREE TO CUSTOMERS: The services of an insurance broker are available to you at no cost. We do not charge fees. We are paid by the insurance companies we work with but there is no financial reason for us to choose one company over another.
  • ADVOCACY FOR YOU: Brokers represent their customers only and this is particularly important is you have a loss and make a claim. We will advocate for you with the insurance company to help you during the process of making and resolving a claim. This can be very helpful to ensure you have a speedy and satisfactory resolution should a claim become difficult. We are your guides through the settlement of a claim. We are here to help at any time, and especially when you have a claim.

Do Research – Who Has The Best Online Reviews?

The best way to determine which insurance broker to use is to look into the broker’s products, services, reputation, and online reviews.

Online customer reviews can provide good insight into a company – its services and its products. The reviews – particularly when there are a lot of them – can cover a variety of topics and provide a breadth of information to potential customers. We encourage you to look at a variety of sources when determining the strength of a company’s reputation. Look at Google, Yellow Pages and Facebook. We also encourage you to look at several of the reviews. These are good indicators of overall customer satisfaction.

Another good way to determine which insurance brokerage to use is to check if it has received any awards from the insurance industry and in the community. These are good indicators of a broker’s reputation. We are an award-winning insurance broker that has been recognized numerous times.

How Much Is Home Insurance In Ontario?

Generally home insurance in Ontario will cost between $800 to $3,200 annually. Your home insurance premium will vary depending on a number of factors.

Some of the factors that will determine the cost of your home insurance policy in Ontario are:

  • The replacement cost of your home which includes size, construction details, contents.
  • Proximity to a fire hydrant.
  • Your claims history.
  • The age of your electrical services (wiring).
  • The age of your pipes.
  • If you have a wood stove.
  • The age of your roof.
  • Where you live. Are you in a rural area, an urban area, near a fire station and other details.
  • If you use your home for an at-home business.
  • If you have a security system.
  • If you have a pool.

How Is Home Insurance Calculated?

Home insurance in Ontario is calculated after the insurance company gathers information about your to determine the risk factors. These factors could push up your home insurance premium. The determination of risk includes factors such as the replacement cost of your home, where you live and details such as the age of your wiring and plumbing.

Note that some features – such as having smoke alarms and a security system – will help to lower your Ontario home insurance premium.  An insurance broker will ask about the features of your home and provide these to several insurance companies to get you several homeowner insurance quotes in Ontario.

Frequently Asked Questions About Home Insurance

We are including several FAQs to provide additional information about homeowner’s insurance Ontario. Please note that the answers provided are very general and are meant to provide you with basic and general information only.

Insurance can be complicated. There are coverages, limits, exclusions, additional coverages you can purchase and other details to consider when you are buying home insurance.

Your individual situation and details about your home are unique to you.  Your home insurance policy should be tailored to you and your lifestyle. Your home insurance policy will, in the end, determine if you are covered or not covered for certain losses.

We strongly advise that you obtain the professional help of an insurance broker, discuss details of your home and ask any questions you may have. Getting answers to your questions is key. Understanding your home insurance coverages, limits, exclusions and any additional coverages you may need is also key.

The experience and expertise of an insurance broker when getting home insurance in Ontario can be very helpful.

When you contact us, we will be pleased to answer any questions you may have. We will guide you through getting insurance for your Ontario home.

Is Every Home Insurance Claim Covered By My Policy?

Every claim needs to be investigated to determine the initial cause of the loss before an insurance company will confirm coverage. It will not cover losses caused by faulty workmanship.  It will cover losses that are covered by your home insurance policy to the limits stipulated in the policy.

Will Home Insurance Cover Water Damage?

There are numerous types of water damage that can occur in a home and these may or may not be covered by your home insurance policy in Ontario. You can purchase additional coverages for some types of water damage. A broker can explain the details of water damage coverage, limits and options. Some information about water damage is provided earlier in this article.

Will Home Insurance Cover A Fallen Tree?

Home insurance will cover losses due to a fallen tree that result in damage to property. If a tree falls and there is no damage to building, contents, or person, then the homeowner has to pay to take away the tree.

Can Home Insurance Be Paid Monthly?

Yes, you can pay for your home insurance monthly. You can pay in one payment – for the full year. You can also sometimes choose a 3- or 4-pay plan depending on the insurance company.

Will Homeowners Insurance Cover A Roof Leak?

Yes, your homeowner’s insurance policy will cover a leak if it was wind damage created an opening. The policy will not cover leaks caused by wear and tear or poor maintenance.

Will Home Insurance Cover Foundation Issues?

Home insurance will not provide coverage for issues due to bulging or settling of your house. There are specific exclusions that you should discuss with a broker to ensure you have all of the details before you purchase home insurance in Ontario.

Will House Insurance Cover Plumbing?

Plumbing damage from a burst pipe is usually covered by insurance, however, there would not likely be coverage from continuous leaking.

Contact Our Home Insurance Experts

Contact our Ontario home insurance experts at Morison Insurance for several free and no-obligation home insurance quotes. We make getting home insurance in Ontario convenient, simple and speedy.

We shop for you. We will explain important details, review coverages and costs, and contact several insurance companies for competitively priced home insurance quotes. We will assist you every step of the way.

We are a multi-award-winning insurance broker with a reputation for providing outstanding insurance and customer service. We encourage you to learn more about our company, our values and our team. As always, we are only a phone call or an email away.  Would you like to visit us, instead? Perfect. We would love to see you and help with your insurance. Visit any of our nine locations in Simcoe, Hamilton, Haldimand, Waterford, Delhi, Oakville, Tillsonburg, Port Dover or St. Catharines.

We are also a full-service insurance brokerage that provides a full suite of insurance products. Home, auto, business, recreational, life and more.

Every Morison Insurance customer has a dedicated broker – yes, one person – who will look after your insurance. Your Morison Insurance broker is available to you to answer your questions, make changes to your insurance and provide advice when needed. Our customers are the focus of everything we do. Your protection is important. You deserve to have the best insurance brokers in Ontario looking after your insurance.


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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