Home Insurance 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.

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 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.

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.

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.

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

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.

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