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April 22
Your agent Nathan was amazing and so…
Your agent Nathan was amazing and so helpful.
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April 20
They took some basic information and…
They took some basic information and had me connected to a broker within minutes...
Jennifer Maybue
April 19
Prompt response
Prompt response. Good info to make a decision. Helpfull that info was sent to ...
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April 19
Sean was easy to talk too and very…
Sean was easy to talk too and very informative.
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April 19
Good job
The staff was helpful and knew what were doing.
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April 18
Francesco he is a very helpful…
Francesco he is a very helpful gentleman, and I’m happy with the discounts tha...
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April 18
I was connected with Ryan
I was connected with Ryan, who was patient in listening to my car insurance frus...
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April 17
Good pricing
Pleasant broker and helpful
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April 17
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filled out form online less than 5mins called right away and setup call with bro...
ct
April 16
The Agent was very kind and helpful!
The Agent was very kind and helpful!
Istvan Kiraly
April 16
Great customer care she is good 👍
Great customer care she is good 👍
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April 15
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Fast response ! Friendly knowledgeable staff!
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April 15
great rep provided all the information…
great rep provided all the information I needed to make an informed choice
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April 12
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After I got the quotes somebody followed up with me and put me trough with an ag...
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April 12
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April 9
Very helpful advice and great overall…
Very helpful advice and great overall service.
mark
April 6
Easy to deal with and very helpful
Very easy, good use of technology and customer follow up was awesome
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April 6
Easy and friendly process.
Easy and friendly process.
shr
April 5
So good service ,,
So good service ,,, Tammy service me so so good
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Oakville home insurance

Whether you’re planning to buy a home in Oakville, or you’ve already bought one, you’ll need home insurance.

Located in Halton Region, it’s one of the largest towns in Ontario, with a population of 213,759, according to the 2021 census. It’s also one of the safest places to own a home. Crime rates, including break-ins and theft, are low in Oakville, and there are generally no big disasters here either – though floods and windstorms do tend to happen from time to time. They are also becoming more prominent throughout southern Ontario due to climate change.

That’s why you should consider protecting your property with some insurance. It’s unavoidable if you intend to take out a mortgage on it, since most lenders require it despite it not being mandated by the provincial government.

Speaking of regulations, the Financial Services Regulatory Authority of Ontario (FSRA) is the governing body responsible for regulating home insurance in the province. It ensures that anyone selling insurance is licensed and follows the legislation for both property and casualty insurance. The organization also protects consumer rights and reviews complaints whenever an insurer neglects certain rules.

Different types of home insurance coverage in Oakville

Though their exact names vary from one insurer to the next, the four major insurance types in Oakville all boil down to the following:

What Windsor home insurance covers

Regardless of your coverage, home insurance should always cover the following:

Optional home insurance coverage in Oakville

If can beef up your coverage by purchasing ‘add-ons’ or ‘endorsements.’ The most common ones include:

How we find you the best home insurance in Oakville.

We’re partnered with over 50 insurance providers across Canada, many of whom offer home insurance in Oakville. As a result, whenever you use our website, you get quotes from nearly all of them – if not all of them – at the same time, which motivates them to give you the lowest rate they can afford.

Don’t believe us? Head over to LowestRates.ca right now, enter a few details about yourself and you’ll see those cheap quotes for yourself.

Factors that determine your home insurance quote in Oakville

The home insurance quotes you get from providers in Oakville will largely depend on your personal factors. Here’s what some of them are:

  • Property type: Your insurance will be higher or lower, depending on your home’s size and overall construction. For instance, a semi-detached home poses a greater risk due to its attachment to other homes (e.g. if one home catches fire, the others may as well).
  • Rebuilding cost: How much would your home cost to rebuild from scratch? Insurers account for factors such as the home’s square footage, number of floors, overall construction and material and labour costs. If you’ve done any renovations, they would also play a role in determining your premium. Generally, the more expensive the home is to rebuild, the higher the premiums.
  • Internal construction: If the internal construction of your home poses a higher risk, then your premiums will be more expensive. For instance, homes with older pipes or wiring have a higher risk of floods and fires. The only way to reduce these risks is to make your internal construction more up to date.
  • Roof age: Old roofs – specifically ones that have not been renovated in over 20 years – are likely to suffer from issues like leaks and poor insulation, which can cause long-term damage to your home. As a result, your premiums may be higher too. In some cases, insurers may also cover only 25% of the roof’s replacement cost should something happen to it.
  • Location: Areas with higher crime rates and more disasters like floods, rainfalls, snowstorms, wildfires and earthquakes will have higher premiums than those that are on the safer side. While Oakville does, on occasion, endure severe weather and floods, they are not a huge issue here, which means that the premiums shouldn’t be too expensive.
  • Closeness to fire halls and hydrants: The closer a home is to fire halls or hydrants, the lower the risk of severe fire damage. Rural homes are the ones that are more affected by this due to their remoteness. Given that Oakville is mostly an urban area, its homes are unlikely to have this issue.
  • Your claims history: The more claims you’ve filed in the past, the higher your premiums will be, and the other way around. We recommend filing home insurance claims only if your home suffers a catastrophic event, such as fire or flood. Minor leaks and other maintenance concerns are something you should fix yourself.

Risk factors for homeowners in Oakville

Oakville is a relatively safe place to own a home. That said, like anywhere on the planet, it’s not completely immune to every peril out there. With that in mind, here are some of the biggest risks to your home in Oakville:

Outline of a house. Illustration.

See how our customers in Oakville save big on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from April 23, 2024
Type of home
Detached 3,175 sq ft
Location
Oakville
Previous claims
None
Lowest Rate
$238/mth
$2,856/yr
Average rate
$287/mth
$3,444/yr
Saved
$49/mth
$588/yr (17.00%)
Quote from April 21, 2024
Type of home
Detached 1,558 sq ft
Location
Oakville
Previous claims
1
Lowest Rate
$94/mth
$1,128/yr
Average rate
$165/mth
$1,980/yr
Saved
$71/mth
$852/yr (43.00%)
Quote from April 21, 2024
Type of home
Detached 1,174 sq ft
Location
Oakville
Previous claims
None
Lowest Rate
$100/mth
$1,200/yr
Average rate
$150/mth
$1,800/yr
Saved
$50/mth
$600/yr (33.00%)
Home insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, Square One Insurance, and Wawanesa Insurance.
 

Tips on how to lower the cost of your home insurance policy in Oakville

If you're looking for a way to lower your home insurance premiums, here are some of the steps that you can take:

Bundle multiple policies: Bundle your home insurance with your car insurance under one provider. This will not only get you a good discount but streamline your payments.

Increase your deductible: Though increasing your deductible means you’ll have to pay more out of pocket should your home get damaged, you can save a lot more – enough to repair your home in case of a disaster.

Install a burglar alarm system: A burglar alarm system will deter potential break-ins and vandalism, reducing the risk to your home and lowering your premiums. This is especially valuable in high-crime neighbourhoods, though luckily, Oakville is relatively safe in this regard.

Update your plumbing and electrical systems: If your home is a bit older, then it may have outdated plumbing and electrical systems. To reduce the risk of flooding and fire and to lower your premiums, consider upgrading them if you have the means.

Protect your home from floods: As climate change makes weather-related floods more frequent, it’s not a bad idea to protect your home from them. We recommend adding sump dumps, reinforcing your basement walls and renovating your roof to reduce water damage. This will lower your premiums in the long term.

Ger a loyalty discount: If you’ve stuck with the same insurance provider for a while, ask them for a loyalty discount when renewing your policy.

Avoid monthly payments: Paying your insurance monthly increases your premiums, as they usually translate into higher administrative costs for the insurer. By paying annually, you can save on those costs, and in turn, lower your premiums.

Don’t over-insure your home: Be careful not to purchase more coverage than you need. It will cost you more than necessary and may not even protect your home from the next peril to befall it. Your best bet is to analyze the risks and buy only the coverage that will actually benefit you.

Agree to a credit score check: By going through a soft credit score check, you can lower your home insurance premiums – as long as your credit score is high. That’s because people with good credit scores are statistically less likely to file a claim than those with poor scores. What's great about this is that in Ontario, insurance companies can’t use your credit score to increase your premium, so agreeing to this has no adverse effects.

Comparison shop: Don’t settle for one insurer when there are so many options you can choose from. Use websites like LowestRates.ca to compare quotes from over 50 providers in Oakville and secure the cheapest home insurance quote available. It’s fast and it’s free.

Frequently asked questions about car insurance in Oakville

How much is home insurance in Oakville?

Since home insurance premiums in Oakville are determined by multiple factors, including several that are unique to you and your property, there is no set price available. Your claims history, neighbourhood and the property itself will dictate how much you ultimately end up paying. In addition, your premium will depend on the coverage you choose. More coverage means higher premiums.

What perils are specific to Oakville?

Though there aren’t many perils that will endanger your home in Oakville, there are some that might. Here are the most common ones:

  • Windstorms: Oakville doesn’t get too many of these thanks to its proximity to Lake Ontario, but they still happen from time to time. They may also increase in regularity due to climate change in the near future.
  • Freezing temperatures: Winter temperatures in Oakville can sometimes go below -20°C. This increases the potential for burst and frozen pipes, among other issues.
  • Flooding: Melting snow in spring can cause floods due to Oakville’s drain system not always being able to keep up with the resulting water. Generally, this isn’t a problem in most parts of the city, but it is a problem in some, having even led to a class action suit.

What perils does home insurance cover in Oakville?

Some of the most commonly covered perils by home insurers in Oakville include:

  • Fire: Fire occurs for various reasons, and your home insurance should cover you regardless of them. The coverage includes the costs of replacing, rebuilding and repairing the property or items that end up damaged or lost. If you need more help in this regard, find out how to find good home insurance if you live in a wildfire zone.
  • Water damage: Water damage, unfortunately, is a little less clear cut than fire. Most coverages will protect you from water damage if caused by indoor plumbing, air conditioning, sprinkler or a similar indoor or outdoor appliance. If the damage occurred due to sewer back-up or overland flooding, then you may not be covered. Definitely ask your insurer about this one. Also, check out our tips on how to avoid water damage altogether.
  • Lightning: By striking your home, lightning can damage your appliances or electronics. This coverage will pay for their replacement or repairs. Note that this doesn’t mention ‘fire.’ That’s because fire is its own category.
  • Theft and vandalism: Should you fall victim to theft or vandalism, your insurer will pay for replacing, repairing or rebuilding whatever ends up stolen or damaged.
  • Hail and wind: Wind or hail can shower your property in debris as well as fling trees and branches at it, causing massive damage. Should any of this occur, your insurer will cover the necessary replacement and repair costs.
  • Falling objects: Should a falling object, such as spacecraft or space debris, damage your home or its contents, this will pay for their replacement or repairs. This does not usually include objects moved by wind, landslides or snowslides, as those types of ‘falling objects’ belong in a different category.

What perils won’t property insurance cover in Oakville?

There are certain perils Oakville home insurance won’t cover – mainly because most of them are general maintenance concerns that the homeowner can resolve themselves. Here are some of them:

  • Mold: Given that mold occurs slowly, usually due to existing conditions such as high humidity, there is plenty of time to prevent it. Humidity happens because of poor ventilation, leaky windows and HVAC ductwork issues, all of which can be fixed.
  • Pest infestations: Like mold, pest infestations such as mice, bedbugs, cockroaches and termites are all your responsibility as part of general maintenance. This mean that if they cause any damage, it’s unlikely your home insurance will cover it. So, do your best to deal with any infestation as soon as it occurs.
  • Deliberate damage or injuries: Should you decide to deliberately damage your own or someone else’s property or its contents and then file a claim for the damages, your insurance company may not only refuse to pay for them but accuse you of insurance fraud. The same applies to deliberately harming someone on your property.

What can you do to save on home insurance premiums in Oakville?

To save on home insurance in Oakville, start by shopping around online. With LowestRates.ca, for example, you can pull up quotes from over 50 providers in your area and get the cheapest home insurance quote in just a few seconds.

You can also get in touch with an insurance broker, who would basically do the same thing for you, but slightly slower.

If you’re still not satisfied with your home insurance premium, there are a few other things you can do:

  • Increase your deductible. If you do this, you’ll have to pay more out of pocket should something happen to your home. That said, you’ll also save plenty of money.
  • Bundle up. Bundle your car insurance with your home insurance under one company to simplify your payments and get a premium discount.
  • Agree to a credit score check. Doing this can reduce your premiums if the score is high enough. This won’t impact the score itself, and since Ontario prohibits premium increases based on credit scores, this won’t have any adverse effects.
  • Reduce risks to your home. Maintain your home properly, install burglar alarms, keep your roof in good shape and make sure your pipes and electrical wiring are all up to date. This will not only help lower your premiums but make your home safer.

What are the best home insurance companies in Oakville?

The best home insurance company in Oakville will be the one that offers you the best coverage for the lowest price available. To find such a company, head over to LowestRates.ca, input a few details about yourself and pull up quotes from over 50 insurance providers in your area. This will show you where you stand as well as give you an incentive to either renegotiate your rate with your current provider or choose a new one.

What if I own a condo or rent? Can I still buy property insurance online?

Of course. At LowestRates.ca, for example, you can find insurance quotes from top providers in Canada not only for a house but for condos and rental property – all free of charge. You can also discuss this with a broker, who will present you with the best and cheapest condo or tenant insurance coverages available. However, this might take a little longer than simply visiting a website.

Taras Trofimov

Taras Trofimov

About the Author

Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.

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*Shoppers in Ontario who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 30%. The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes tenant and condo insurance.