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How we find you the best home insurance in Brampton

Your home is sacred, whether it’s a condo in a high-rise, a studio apartment, or a five-bedroom house. It makes sense, then, that you’d want to protect it and all that’s inside from unforeseen and uncontrollable events, such as theft, fire, or extreme weather. That’s why having home insurance is so important.

But, we get it. Buying insurance can be confusing and expensive. Where do you even start?

LowestRates.ca lets you compare home insurance rates in Brampton and then connects you with the company offering — you guessed it — the lowest rate.

Now, we know that as the future holder of a home insurance policy, you probably have one or two (let's be real, probably more) questions about buying insurance.

Below, we’ve answered some of the main questions homeowners have about buying home insurance in Brampton. Read on to learn more.

How much does home insurance cost in Brampton?

The truth is, it really depends on the particulars of your situation. That’s a frustrating answer, we know. Basically, companies underwrite risk differently, so you can expect to see some price variation. But here’s the good news: there’s an easy way to get an accurate estimate of what home insurance will cost you. Compare quotes on LowestRates.ca and you can see quotes from dozens of home insurance companies.

The Financial Services Commission of Ontario itself recommends comparing insurance quotes before locking into a policy. When you compare rates, you’re equipping yourself to make an informed decision. Plus, you’re increasing your chance of scoring a better rate. 

What kind of risks are specific to Brampton?

  • Cold temperatures. No exception to Canada’s harsh winters, Brampton can see temperatures plunge in the colder months, resulting in freezing or bursting of water pipes.
  • Flooding. In the summers, Brampton can see powerful thunderstorms, which can bring a high volume of rainfall, possibly resulting in flooding.
  • Earthquakes. Though they’re not common, moderate earthquakes are possible in Brampton.

What risks does home insurance cover in Brampton?

Generally speaking, home insurance is meant to look after your personal belongings (e.g., appliances, furniture, some electronics); additional living expenses (should you need to temporarily evacuate your home); and personal liability, should you be sued for an injury sustained on your property.

Home insurance typically covers the following risks:

  • Fire.
  • Lightning.
  • Smoke damage (excluding fireplaces).
  • Theft.
  • Wind and hail.
  • Electrical current.
  • Explosions.
  • Vandalism.
  • Water damage.
  • Broken windows.
  • Falling objects (unless propelled by a landslide, avalanche, or earthquake).

What risks won’t home insurance cover in Brampton?

The following perils aren’t covered in a standard home insurance policy:

  • Sewer backup.
  • Flooding caused by overland water.
  • Earthquakes.
  • Landslides.
  • Damage from freezing outside the home.
  • Pollution.
  • Damage from insects and rodents.
  • Water damage caused by frozen or burst pipes in the winter.
  • Damage to property acquired illegally.

To protect your homes against risks such as these, you’ll need to purchase extra coverages, called endorsements.

What kind of home insurance do you need in Brampton?

Again, that depends on your circumstances and your personal tolerance for risk. There are four basic types of home insurance:

Comprehensive - Of all the policy types, this one is the most extensive. It covers both your home’s structure and its contents for all risks. The exception would be any perils that are specifically excluded, for example, non-insurable perils like overland flooding and earthquakes.

Basic or Named Perils - This policy only covers your home against perils that are named in the policy.

Broad - A mid-priced policy that’s somewhat of a mix between comprehensive and basic. This policy covers your home’s structure against all insurable perils. Contents, however, are only protected against named perils.

No-Frills - Intended for properties that don’t meet normal insurance standards (i.e., homes that have major structural issues).

You might also want to purchase insurance endorsements, which are additional forms of coverage that homeowners can add to beef up their policy. Brampton residents, in particular, may want to consider purchasing endorsements for things like overland flooding and sewer backup. It’s also possible to purchase additional coverage for things like fine jewelry and equipment used for a home business.

What can you do to save on home insurance in Brampton?

  • Bundle home and auto insurance with the same provider.
  • Offer to pay a higher deductible (e.g., the amount you pay out of pocket for a claim).
  • Use a comparison site like LowestRates.ca to find the best rate.
  • Pay an annual lump sum up front as opposed to monthly premiums, which include administrative costs.
  • Mention that you’re part of a union, certain organization(s), or an alumnus of a qualifying university or college.
  • Equip your home with smoke detectors and monitored intruder alarms.
  • Be “claims free” (e.g., never have made an insurance claim before).
  • Be a senior citizen.
  • Buy a newly-built home, which can sometimes qualify you for a discount.

What are the best insurance companies in Brampton?

There’s no such thing as the best insurance company for everyone. It’s going to depend on your situation. In the end, what matters is that you get the appropriate coverage at a price you can afford.

To make that happen, you’re going to want to do your due diligence on insurers and evaluate whether or not giving them your business is a good idea. That includes checking the insurer’s rating on websites like insurer rating agency A.M. Best; doing a bit of Googling and seeing if the words “scam,” and “rip-off” turn up when you search the insurer; or, contacting the Better Business Bureau to see if any complaints have been lodged against the company or brokerage.

Finally, you should never feel pressured into buying a policy. Take your time and don’t worry about asking too many questions. Your agent should be happy to answer them for you.

Here are some of the major home insurance companies operating in Ontario and serving Brampton:

  • Aviva
  • Intact Insurance
  • Wawanesa
  • TD Insurance
  • The Co-operators

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