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Written By Joel Kranc

Contributing writer

Updated

Home insurance in Brantford  

A home in the birthplace of Wayne Gretzky will likely be your most expensive asset, and it deserves to be protected. Unlike auto insurance, home insurance is not mandatory in Canada. However, most lending institutions will only provide a mortgage if you have it. As a result, insurance is basically compulsory for most people looking to enter the housing market.  

Beyond helping you get financing, Brantford home insurance protects your liability, your home, and its contents. You will receive liability protection in case of injuries or lawsuits, your home will be protected from weather-related or other damage, and the contents will also be protected from damage, theft or vandalism.  

Home insurance is more important than ever due to climate change. Severe storms result in significant financial losses for the uninsured. Flooding is increasing, making water damage Canada's most common home insurance claim. A flooded basement will cost about $30,000 to repair. On a national scale, the economic devastation is staggering: the Insurance Bureau of Canada says insured damage for extreme weather events reached $3.1 billion nationally in 2022. That ranks as the third-worst year for insured losses in Canadian history. 

Let's dive into the different kinds of home insurance you can get in Brantford and why they are essential for your protection.  


Types of home insurance in Brantford  

These are the typical types of home insurance you will find for Brantford.  

Home insurance coverage  

  • Property and building: This coverage protects your property and the structure of your home from various perils. Protected incidents include things like fire, theft and water damage. Please talk to your Brantford insurance provider if you require further protection or have other structures on your property.  
  • Contents and personal property: Most of your home's contents, such as clothing, housewares and furniture, are protected by Brantford home insurance providers. Expensive items, such as fine art and jewelry, can be added to your policy at extra cost if you need additional coverage.  
  • Additional living expenses: Sometimes, damage to your home can be extensive, and you may be displaced for some time while things are getting repaired. This coverage will provide you with expenses such as hotel or temporary rent and sometimes food and commuting costs while you are displaced. Talk to your provider about how much is allowable and if any caps are in place. 

Liability coverage  

  • Personal liability: This will protect you from expenses incurred by someone injured on your property.  
  • Voluntary medical payments: If someone is injured accidentally by you or any other way on your property, this will cover medical expenses for up to one year from the accident.  
  • Voluntary property damage: This will protect you against unintentional losses or damage you incurred to someone else's property. It also covers accidental loss or damage to someone else's property by a minor (12 years or under) in your care.  


Add-ons to home insurance coverage in Brantford 

Standard Brantford home insurance policies will only go so far. But changing weather events, a growing population creating more density, and other issues may increase your need for add-on home insurance.  

These are some of the most common home insurance add-ons, also known as riders, that you can add to your home insurance policy:  

  • Overland water: Protects you from overland flooding, which includes melting snow or flooding from rivers or lakes.  
  • Sewer back-up: This protects you from main sewer back-ups that can cause severe damage to your home.  
  • Earthquake: People living in areas prone to earthquakes may want to consider extra coverage for potential damages.  
  • Mass evacuation: Things like earthquakes, wildfires, and flooding, for example, can force mass evacuations from your home. This would help with expenses related to those events.  
  • Identity theft: This protects you from stolen documents such as passports.  
  • Lock replacement: Break-ins may leave your home vulnerable to broken locks. Lock replacement insurance covers the costs of hiring a locksmith.  

Recent Brantford home insurance quotes

Recent Home Insurance Quote from Brantford, ON
Townhouse 1,311 sq ft
June 14, 2024
Cheapest Quote
$ 83 / month
$996 / year
Average Quote
$ 119 / month
$1,428 / year
Savings
$ 35 / month
$420 / year
or
30.00 %
Recent Home Insurance Quote from Brantford, ON
Detached 1,360 sq ft
June 14, 2024
Cheapest Quote
$ 197 / month
$2,364 / year
Average Quote
$ 272 / month
$3,264 / year
Savings
$ 76 / month
$912 / year
or
28.00 %
Recent Home Insurance Quote from Brantford, ON
Duplex 2,002 sq ft
June 14, 2024
Cheapest Quote
$ 175 / month
$2,100 / year
Average Quote
$ 238 / month
$2,856 / year
Savings
$ 62 / month
$744 / year
or
26.00 %
Home insurance quotes are compared from Apollo Insurance, CAA, Economical Insurance, Pembridge, Square One Insurance, and SGI

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What types of risks do homeowners face in Brantford?  

Home insurance contracts are largely the same across Canada, but parts of the country have differing risk factors that affect regional insurance costs. In Brantford, these factors include:

  • Freezing temperatures. Canada is a northern country with low winter temperatures. This causes havoc on plumbing and can damage pipes.
  • Snow and water damage. Heavy winter snowfalls can cause structural damage from the sheer weight of it on your roof or garage, for example. Spring thawing can also cause flooding or leaking in vulnerable areas such as basements or roofs.
  • Sewage pipe back-up. Main sewer or drain clogging can cause severe water damage to your home.
  • Window condensation. Fluctuating hot and cold temperatures can cause condensation in windows and create moisture within your home's structure. This can lead to water seeping into the wood, the foundation and possibly around electrical systems.
  • Flooding. Brantford is near the Grand River, which is prone to flooding.

A standard home insurance policy in Brantford will cover your personal belongings (appliances, furniture and some electronics) and protect you from personal liability if you're sued by someone injured on your property.

Perils covered by basic Brantford insurance include:

  • Fire
  • Lightning
  • Water damage
  • Wind
  • Aircraft or vehicle impact
  • Explosion
  • Smoke (caused by cooking devices or heaters, but not fireplaces)
  • Theft and vandalism (such as broken windows)
  • Falling objects (except if caused by an earthquake, landslide or snowslide)

There are other perils that standard Brantford home insurance policies won't cover. In these cases, add-on protection may be available for an extra charge. Whether getting additional coverage is worthwhile depends on how relevant any uncovered perils are for your home. Examples of circumstances that most homeowners insurance policies exclude include:

  • Renting all or part of your property to long- or short-term guests (specialized coverage is available).
  • Injuries or damage caused either intentionally or by illegal activity.
  • Damage due to basic measures of protection and maintenance not being taken.
  • Liability for clients or customers visiting a home-based business.
  • Natural disasters, such as earthquakes and landslides.
  • Certain kinds of water damage, such as sewer back-up and flooding from overland water.
  • Certain weather issues in winter, such as damage to the outside of your home caused by freezing and water damage (due to frozen or burst pipes).
  • Damage from insects and rodents.

Factors that determine your Brantford home insurance rates   

Insurance and claim history 

Insurance companies will look at your record as a customer. If you pay your bills on time, have few to no claims and have been consistently insured, you would be considered low risk and likely have a lower Brantford home insurance rate.

On the other hand, homeowners with many past claims are considered a higher risk and likely to pay more for Brantford home insurance premiums.

Your credit rating

A higher score of someone who pays bills and pays back borrowed funds is seen favourably by Brantford home insurance providers. A lower score likely means you are at increased risk.

Your home’s address

Homes in neighbourhoods with few claims are considered a lower risk to insure than in ones where theft, vandalism, or natural disasters are more common.

Proximity to a fire hydrant

Living close to a fire hydrant may reduce the damage caused by a fire, which is why Brantford home insurance providers look at the proximity to a station or hydrant.

The age of your home

Older homes will have more problems due to out-of-date wiring, plumbing, and outdated construction. Newer homes typically have better construction materials, modern wiring and plumbing. They are considered a lower risk by Brantford home insurance providers.

How to get cheap home insurance in Brantford  

Home insurance in Brantford aligns with Ontario's average home insurance rate. Current average rates for Brantford are $1,435, whereas the Ontario average is $1,487 per year. But homeowners always have options to find even more savings from their providers.

Here are a few examples of where you can save on Brantford home insurance:

  • Compare Brantford home insurance quotes. You can comparison shop other Brantford home insurance rates on sites like RATESDOTCA. Just enter some information regarding your Brantford home, and we'll do the rest.
  • Bundle multiple home insurance policies. Bundling multiple policies earns you a discount in the neighbourhood of 15%. Brantford home insurance providers pass the savings to you as thanks for your business.
  • Go with a higher deductible. Agreeing to pay for more out-of-pocket expenses by having a higher deductible decreases your risk factor by Brantford home insurance providers. That reduces your risk and allows for a cheaper home insurance premium.
  • Leverage discounts. Some Brantford home insurance providers will give discounts to people who belong to certain associations or alumni groups. Ask your provider if they have such discounts for you to take advantage of.
  • Reduce security risks. Reducing risks associated with insurance claims will result in savings for you. That's why installing a good security system can help reduce your Brantford home insurance premiums.
  • Look for claims forgiveness. Brantford home insurance providers look at your claims history as a risk factor. The more claims you make, the higher your premiums will be. But some insurance companies will forgive your first claim, which can earn you substantial savings. Claims forgiveness costs extra.
  • Pay for premiums annually. When you pay for Branford home insurance in one lump sum, you reduce administrative burdens and costs for your insurance provider. Those savings are passed down to you.
  • Agree to a credit check. A good credit score generally means a lower risk and can lead to lower Brantford home insurance premiums. Allow a credit check to see if you qualify.
  • Understand your neighbourhood. Look at your neighbourhood's crime rates. If fewer break-ins happen in your area, premiums will likely be lower. You can see how your postal code compares with others using the RATESDOTCA Home Insuramap.
  • Assess your insurance needs. Before you take out insurance, understand how much you will need. Over-insuring your home is possible. Talk to your provider about your needs and where savings can occur.
  • Do you need add-ons? While standard insurance covers much of what you need, it may leave important gaps in your coverage. At the same time, buying additional coverage will raise your premium. Get a second opinion from an insurance professional about what type of additional coverage you need.

How much does home insurance cost in Brantford on average? 

The average cost of home insurance in Brantford is $1,434.86 per year or nearly $120 per month, according to the RATESDOTCA Home Insuramap. That’s 3.6% below the provincial average of $1,487 per year.

In nearby Hamilton, rates average $1,551 annually, which is 8% higher than in Brantford. Heading east, Oakville sees average rates in the range of $1,133, which is 21% below Brantford.

Frequently asked questions about Brantford home insurance

Have more questions about Brantford home insurance? We've got you covered.

Why is home insurance in Brantford so expensive?

Brantford home insurance is in line with the provincial average cost. The average price for home insurance in Brantford is $1,434.86 compared with the Ontario average rate of $1,487. That’s only a 3.6% difference.

The lowest home insurance rates in Ontario are found in Ajax, with an average yearly rate of $1,086, 24% cheaper than Brantford. In contrast, Lasalle, the most expensive city for home insurance at $2,411, is 68% higher than Brantford.

Brantford is near the Grand River, which is known to flood. It may pose a risk to some homeowners in the area. While not the most expensive place to live in terms of home insurance rates, Brantford premiums are somewhat elevated.

Do high Brantford real estate prices affect the cost of home insurance?

Real estate prices are one factor that may affect the cost of insurance but are only a small part of the larger equation. Higher-cost homes may cost more to insure or to replace, thus raising their price.

However, Brantford home insurance policies are assessed based on other things, such as your credit score, your home’s value and the value of its contents, your proximity to a fire station, your claims history and so on.

It’s best to comparison shop and talk to your agent or broker about your needs and how they will affect the cost of your home insurance.

Which company offers the cheapest Brantford home insurance?

No one insurance company offers the cheapest Brantford home insurance. Finding cheap insurance depends on your home insurance needs. It’s best to comparison shop to see which provider can meet your needs while offering a fair price.

How do I save on Brantford home insurance?

There are many ways to save on Brantford home insurance:

  • Comparison shop. Use sites like RATESDOTCA to find the cheapest home insurance in seconds.
  • Bundle policies. By combining home and auto insurance under one provider, you can save money and take advantage of discounts.
  • Install a home alarm system. Securing your home and reducing the risk of threats will result in cheaper Brantford home insurance.
  • Make fewer claims. The fewer claims you make, the less risky you are to insure.
  • Raise your deductible. This will benefit your risk profile as you are willing to take on more of the financial burden upfront before making any insurance claims.
  • Pay premiums annually. This saves your insurance provider on administrative costs, which can be passed down to you.
  • Leverage other discounts. Many Brantford home insurance providers offer discounts to seniors or members of some professional associations or alumni groups.

*Shoppers in Ontario who obtained a home insurance quote on RATESDOTCA from January to December 2023 saved an average amount of $360. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA. Excludes tenant and condo insurance.

Joel Kranc ,
Writer

Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.

He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.

He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."

Education
  • Master's of Political Science, University of Toronto
Featured in
  • Benefits Canada
  • Institutional Investor
  • Plan Sponsor Magazine
  • Global Finance Magazine
  • Infrastructure Investor
  • Private Equity Investor
  • The Globe and Mail
  • Fund Directions Newsletter
  • BenefitsPRO
  • HR Professional
  • Advisor's Edge
  • Institutional Investor
  • Employee Benefit Advisor
  • Investing in Infrastructure Magazine (i3)

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