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Your Butlington home insurance questions, answered.
How much is home insurance in Burlington?
A number of factors affect home insurance prices in Burlington.
An insurance company’s job is to assess risk by determining how likely you are to make a claim on the house you’re insuring. If you live in a low-lying area prone to flooding, for example, you may pay more for home insurance.
But that’s just one part of the equation. Your residence type — whether you live in a single-family home, a condo or a townhouse — may also have an impact.
Other factors include the replacement value of your home if it were destroyed or severely damaged, your proximity to a fire station, your claims history, your deductible, and the amount and type of home insurance coverage you buy for your Burlington home.
The average cost of home insurance in Burlington won't be the most accurate indicator of exactly what you’ll pay. That's why we recommend applying for quotes. It's the most reliable way to gauge your costs.
What risks are specific to Burlington?
Different regions face different weather perils. Knowing what risks you're likely to encounter in Burlington can help you determine your home insurance needs. Here are some weather events that Burlington homeowners are likely to face.
- Floods. This is a growing risk throughout Canada. Climate change is causing extreme weather events to become more commonplace and storms that may have struck every hundred years now hit every few years. Burlington is no stranger to floods: in 2014, the city received nearly two months of rain in just eight hours. More than 3,000 homes ended up flooded and millions of dollars in damage was done to the city’s infrastructure.
- Wind storms. Burlington is surrounded by flat terrain, so major wind storms and even tornados are not uncommon in the area. In April 2018, a major wind storm knocked down trees, damaged roofs and led to 10% of Burlington residents losing power.
- Fire. Luckily, Burlington is not situated in an area known for wildfires. However, fire is a major risk to any homeowner and it’s important to protect yourself against it.
What risks does home insurance cover in Burlington?
Most property insurance policies in Burlington will cover a standard list of so-called perils — insurable risks to your home. It’s important to know what perils are covered under your insurance. Some commonly covered perils as part of a standard plan include:
- Damage from electrical currents
- Damage from vehicle impact or airplanes
- Falling objects (this does not include those from landslides or avalanches)
- Smoke (this often doesn’t cover smoke damage from fireplaces, however)
- Your personal liability (legal costs incurred if someone is hurt on your property or you cause damage to someone else’s)
What risks won’t home insurance cover in Burlington?
A common assumption is that buying house insurance in Burlington covers you for any type of damage. Standard home insurance policies contain many exclusions.
These exclusions include perils that are predictable, such as a wood fence rotting or roof shingles falling off. It’s your responsibility to maintain your home and prevent these things from happening, therefore they aren't covered by your home insurance policy.
Certain events require an insurance endorsement to be covered. These add-ons can be purchased for most policies.
Examples of common endorsements include:
Sewer backup. If there's a major rainstorm that causes your sewer line to back up and flood your home, you won’t be covered under a standard policy unless you have an endorsement for sewer backup. As storms become larger due to climate change, old sewer systems may struggle to keep up, making this a growing risk.
Earthquakes. Though not standard in most policies, you can buy this to protect your home in the event of an earthquake. Keep in mind that while direct damage from the ground shaking may be covered, byproducts of an earthquake may not be. Damaged caused by tidal waves, floods or surface water or waterborne objects are also not usually covered by earthquake insurance, even if the earthquake caused these things.
Overland flooding. If you live near a river, you may be at risk of flooding. However, most standard policies won’t cover overland flooding, which is when a river or body of water spills its banks and finds its way into your home. You need to purchase an endorsement for this.
What kind of home insurance do you need in Burlington?
There’s nothing special about the major types of homeowners insurance you can buy in Burlington; you’ll find these four different products in markets across Canada. However, you should know the differences between them before you make a decision.
Comprehensive. Comprehensive insurance will cover both your property and the contents inside. As the name implies, this is the most extensive base policy you can purchase and it provides coverage against all insurable perils.
Basic or Named Perils. A more basic policy that often will just cover your home against perils that you specifically name. This type of policy will help you to secure cheap home insurance in Burlington, but you won’t have as much coverage.
Broad. You’ll have your building and your contents insured, but the content insurance will just be for named perils. Often cheaper than comprehensive, but more expensive than basic, with more items covered.
No-Frills. Not all insurance companies offer a no-frills policy. It’s meant to insure houses that otherwise might not be insured by other companies, such as those with structural damage. This is a very basic level of coverage.
In addition to the four major policies above, you can purchase endorsements to your insurance policy that can gain you additional coverages (at an additional cost.)
Some endorsements include:
- Sewer backup
- Watercraft endorsement
- Home-based business endorsement
Remember to shop around and compare Burlington home insurance quotes to make sure you’re getting current home insurance rates in Burlington.
One of the most efficient ways to get a home insurance estimate as a Burlington resident is to fill out a form on a rate comparison site like LowestRates.ca.
What can you do to save on home insurance in Burlington?
The cost of home insurance in Burlington depends on a number of factors, including where you live, the size and the quality of the home insurance company’s insurance pool, as well as external factors such as extreme weather risks.
There are still lots of ways that you can lower your home insurance rate in Burlington. Some of these include:
- Raising your deductible.
- Bundling your home and auto insurance together.
- Paying your home insurance premium in Burlington annually instead of monthly.
- Senior discounts.
- Alumni or professional discounts.
- And of course, comparing home insurance quotes online in Burlington.
What are the best home insurance companies in Burlington?
There’s no such thing as the “best” home insurance company in Burlington because the best company is the one that offers you the right amount of protection at a price that's manageable for you.
That being said, LowestRates.ca compares the top home insurance brokers in Burlington. We’ve created an easy to understand form to help you quickly see which one has the best price for your needs.
Here are some of the home insurance providers that Burlington residents can trust to secure the best home insurance rates in Burlington:
- CAA Home Insurance
- Economical Insurance
What if I own a condo or rent? Can I still buy property insurance online?
LowestRates.ca can help renters and condo owners find property insurance. Just select which type of insurance you’re looking for and enter your postal code.
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