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The cost of home insurance varies by property type and location. In Toronto, an average house is about $100 per month, condo insurance is about $30 per month, and a tenant's insurance will be about $15 per month. However, condo insurance is on the rise with more buildings being built and rising claim volumes in older buildings leading the charge.  

Yes, but it will generally cost you three times as much to account for the inherent risks of robbery, burglary, and smashed windows and doors. The general rule is that if you're away from your home for more than 30 days, call your insurance provider to explore options such as having a friend or neighbour check on the property. If you have an unrented rental, you'll need to apply for a vacancy permit within the first 30 days. 

Also, vacant doesn't mean unoccupied. They sound the same, but with insurance, they're two separate terms. Unoccupied means it ready for immediate occupancy. There's furniture, the utilities remain on, and the fridge is running. A vacant home is a home that you don't intend on returning, utilities are shut off, and it's empty. You may need a new home insurance policy or an endorsement added to your existing policy. 

Finding a broker is a personal choice, so it's hard to say which one is best. However, you can view our preferred brokers on our insurance brokers page. Alternatively, use our home insurance calculator in Toronto to find which company will give you the best rate. We'll connect you with a broker to help finalize the deal and answer any questions you may have about insurance. 

CAA, TD, and Aviva are often mentioned and they are some of the best. However, the best home insurance company for you will depend on your unique situation and which company is best or will give you the lowest rate, depends on many factors. The easiest way to find which company is best for you is to get a Toronto home insurance quote with us and let the machines and algorithms do the work for you. Based on your profile, each insurance company will provide a quote. You can choose from there who your favourite is. 

In all of the different coverages, there are some things that are excluded from policies. They are mostly due to wear and tear that gets worse due to negligence.

For instance, Mold is seen as a lack of maintenance from a homeowner. If a home insurance claim could have been avoided with regular maintenance, you can expect it to not be covered.

Other common exclusions include infestations from termites or rats, home businesses, dangerous dogs, and sewer backups.

Water is a tricky peril and for some instances, it is included in your coverage, while for other scenarios it is not. Be sure to check with your insurer about what is and isn’t covered. You may need to add coverage endorsements to your policy to customize your policy to meet your needs!

Yes, if you’re unhappy with your rate or customer service, feel free to move on. However, before you do, it’s important to shop around for home insurance quotes, select your new provider, inform your old provider and ensure there are no coverage gaps while you transfer.

Unlike auto insurance, where age and gender can play a role in determining your rate, home insurance only cares about the home itself. You can get married, share the home with your new spouse, and even add children if you want to and it won’t affect the rate you pay.

A home insurance peril is an unknown or accidental event. For instance, if your home is struck and damaged by lightning, creating a hole in your roof, there is no way you could have prevented it. But a home insurance policy is not a maintenance plan so if your roof has slowly degraded over time and now needs replacing, it is not a peril since its eventual replacement is expected.

Make a complete list of damaged or stolen items. Call your insurance provider as soon as you can and ask about what you’re entitled to, especially if you can’t currently live in your home as you may be entitled to hotel and food expenses. A claims adjuster will be in contact with you to fill out a proof of loss form. Ask about using your own contractor or if you’re required to use one they supply to repair the property.

A deductible is the portion of the claim you’re responsible for paying before the insurance company will pay the rest. The higher your deductible, the cheaper your insurance premiums.