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What you need to know about insurance for your home in Brampton

Brampton is one of the fastest growing cities in Ontario.

The most recently available data from Statistics Canada reflects that between 2011 and 2016, the number of private households in Brampton increased by 12.6% – up 18,739 units to a total of 168,010.

More than 50% of those were single-family detached houses, more than 20% apartments, about 14% semi-detached houses, and 12% were row houses.

While home insurance isn’t required by law in Canada, chances are you’ll want to make sure your home is protected, regardless of what type of dwelling you live in. 

Understanding what insurance is available for your Brampton home is one of the crucial first steps to getting a great rate. 

The policy type you select, additional coverage you add to it, coverage amount for your contents as well as liability protection are some of the key factors that will affect your rate. 

Here, we break down some of the most important details you’ll want to consider when making decisions about insurance for your Brampton home. 

How do home insurance rates in Brampton compare to the rest of Ontario?

RATESDOTCA data reflects that in 2020, the average premium for insuring a home in Brampton was $1,267, $17 cheaper than the average premium in Ontario: $1,284. 

Some reasons that home insurance rates in Brampton are slightly lower than the provincial average include: 

  • Brampton homes are not as vulnerable to damage from flooding because the city isn’t located near a large body of water such as Lake Ontario and the tributaries that flow into it.
  • The value of the Brampton homes themselves is lower than in nearby cities such as Toronto or those in parts of nearby Oakville. According to 2021 data from the Canadian Real Estate Association, the average value of a detached home in Brampton was about $1.1 million whereas in Oakville it was about $1.4 million.

Nevertheless, many factors affect home insurance rates. Comparison shopping is the essential first step to securing the best insurance for your home in Brampton at the lowest rate.

Frequently asked questions about home insurance in Brampton 

How much does home insurance cost in Brampton?

Because of how many variables go into calculating home insurance rates, it’s difficult to suggest a specific cost.

When determining your rate, the details that insurance providers most closely consider include: the property being insured, the coverage being sought and the policyholder’s claims history.

They’re trying to gauge how likely it is that they’ll receive a claim. 

Depending on how the details line up, identical homes on the same street owned by owners with similar insurance applications might receive a different rate.

How expensive is insurance for a home in Brampton compared to the rest of Ontario

RATESDOTCA data reflects that in 2020, the average premium for insuring a home in Brampton was $1,267, $17 cheaper than the average premium in Ontario: $1,284. 

Why is home insurance in Brampton cheaper?

Some reasons that home insurance rates in Brampton are slightly lower than the provincial average include: 

  • Brampton homes are not as vulnerable to damage from flood because the city is located at a distance for any large body of water such as Lake Ontario and the tributaries that flow into it. 
  • The value of the homes themselves are lower than in nearby cities such as Toronto.

Nevertheless, there are many factors affect home insurance rates. Comparison shopping is the essential first step to securing the best coverage for your home in Brampton at the lowest rate.

Which company offers the cheapest Brampton home insurance?

There’s no single company that offers the cheapest insurance rates for homes in Brampton, or anywhere.

The essential first step to finding a great home insurance rate is to compare what’s available from the largest range of providers. Our online quote tool will provide free quotes in less than one minute.

Your rate will depend on the variables you input, including details about the property, the type of coverage you’re seeking and the amount of coverage you want. 

Once you receive a quote, adjusting other details will help bring down your rate. For example, you may be able to save by bundling your policies, so both are held by a single insurance provider, by increasing your deductible or by allowing your credit score to be considered – this practice is legal in most provinces except Newfoundland.

What risks are local to Brampton?

Most home insurance policies include water damage protection, but name flood protection as an exclusion. 

This means that while you’re likely to be covered if a water pipe bursts and damages the home and your contents, you will not be protected if your home is damaged when water enters your home during a severe weather event or if a nearby waterway overflows.

While incidents of flooding are not common in Brampton, severe weather is becoming more and more common across Canada.

As a result, we recommend you consider adding additional flood protection to your insurance policy, as well as sewer back-up protection.

Similarly, earthquakes are not common in Brampton, but are not unheard of in Ontario. In June 2010, a magnitude 5.0 earthquake hit central Ontario and parts of Quebec.

Since earthquakes are often listed as an exclusion, you’ll have to add it to a policy if you want to be protected against it.

What does insurance for a Brampton house cover?

Most home insurance policies will cover you for a range of perils, offer liability protection and cover additional living expenses if you’re forced to leave your home following an insured loss.

While different perils are covered under different policy types, if you opt for a comprehensive policy (also known as an all-perils policy) you’ll be protected against most common perils such as:

  • Broken windows
  • Electrical current
  • Explosion
  • Falling objects (depending on cause)
  • Fire 
  • Hail 
  • Lightning 
  • Smoke damage (except from your fireplace) 
  • Theft
  • Vandalism
  • Water damage
  • Wind damage

What does insurance for a Brampton home not cover?

Many policies have exclusions, meaning your home and its contents won’t be covered in the event of damage caused by the following perils:

  • Avalanche
  • Damage from renters
  • Earthquake
  • Flooding
  • Landslide
  • Previous damage
  • Water damage due to freezing inside the house
  • While away from home

Take the time to closely review your home insurance policy to make sure you understand any exclusions it contains.

Some insurance providers will consider your home vacant if you’re not there for 30 consecutive days. Make sure you’re aware of the requirements.

If you’re considering renting out your property on a consistent basis using a platform such as Airbnb, you’ll likely need a separate and specific type of home insurance policy.

In addition, the city of Brampton recently passed a bylaw requiring anyone renting out rooms, condos or homes through online sharing platforms like Airbnb, VRB and FlipKey to have a city-issued licence.

According to local news reports in November 2021, property owners must also have proof of commercial general liability insurance to be renewed annually along with the licence.

This sort of coverage would not be available through a home insurance policy.

How can I reduce the cost of insurance for my home in Brampton? 

The easiest way to bring down the cost of insurance for your house in Brampton is to bundle your policies so both are held by the same company. For example, you may save money if you use one provider for your home and car insurance policies.

Other ways to bring down the cost of insurance for your Brampton home include: 

  • Allowing your credit score to be considered. While insurance providers cannot penalize you for a bad credit score, they can offer discounts for a good credit score
  • Association memberships including any discounts that may be available via your alma mater 
  • Agreeing to pay your annual premium at once rather than month-over-month may result in savings
  • Increasing your deductible
  • Installing burglar, carbon monoxide and smoke alarms to protect your house in Brampton
  • Installing a sump pump or backflow valve to better prevent water coming into the home during an extreme weather event
  • Keeping your home in good repair
  • Limiting the volume of insurance claims you make

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