The Best Home Insurance in Burlington

Home insurance in Burlington 

Burlington is a growing metropolis and part of the Greater Toronto Area. It encompasses both residential, commercial, and industrial real estate. Living there is not cheap. According to the Realtors Association of Hamilton and Burlington, the median sale price for single detached homes was up 4.1% year-over-year to $880,000 in the third quarter of 2023, beating the provincial average of $851,756 — a difference of 3.3%.

Given the cost of homes in the Burlington area, it is crucial to find the right home insurance that suits your needs and protects your valuables.

While home insurance is not mandatory in Ontario, most financial institutions will not provide a mortgage without it. That is why you'll want to purchase home insurance for your property.

Below are the types of home insurance you can get in Burlington, including the most common and additional coverage.

Types of home insurance in Burlington 

These are the most common types of home insurance coverage in Burlington.

• Basic – Burlington homeowners can get this coverage for named perils. It is the most basic, as the name suggests, and is usually the least expensive.
• Broad – This is mid-level home insurance. It provides comprehensive coverage for the structure of your home and basic coverage for your contents (but you must specify which items you want protected in your policy).
• Comprehensive – This is the most expensive home insurance policy you can get in Sudbury. It covers the structure and your contents against all insured perils.
  

Home insurance coverage 

• Property and building – This protects the structure of your home and other structures on your property. In most cases, you are protected from theft, fire, vandalism, storm damage, and some types of water damage. It is best to talk to your insurer about secondary structures like a garage or guest house to ensure your entire property is covered.
  • Coverage amount: Replacement cost of your home (as decided by your insurance company)
    
• Contents and personal property – This type of coverage protects you against theft, vandalism or other losses to items you store in your house. You may require additional coverage to protect valuable items such as family heirlooms, jewelry or fine art.
  • Coverage amount: 70% - 80% of replacement cost, depending on depreciation.  
    
• Additional living expenses – In the event of natural disasters that force you to evacuate your home, additional living expenses insurance will come in handy. This protection covers your temporary housing costs and can help pay for hotel stays until you return to your home, commuting costs, or even food up to certain limits.
  • Coverage amount: 20% - 30% of the replacement cost.
    

Liability coverage

• Personal liability – If someone injures themselves on your property, personal liability insurance can help with legal expenses. This is important because the costs of a lawsuit can total thousands of dollars if you are not protected.
  • Coverage amount: $100,000 included in basic coverage
  • Recommended coverage amount: $1,000,000 (but can go as high as $5,000,000) 
    
• Voluntary medical payments – What if someone injures themselves on your property and requires medical attention? Suppose you're not legally liable for the injury. This insurance will cover medical expenses for one year from the accident date.
  • Coverage amount: $5,000-$10,000 with no deductible
    
• Voluntary property damage – In cases where you cause unintentional damage to someone else's property, this will help you pay for any unintentional direct loss or damage. It also covers accidental loss or damage to someone else's property by a minor (12 years or under) in your care.
  • Coverage amount: $1,000 (but can vary between insurance providers and go as high as $6,000) 
    

Add-ons to home insurance coverage in Burlington  

Even with the previously mentioned insurance coverage, there are additional protections you can purchase in Burlington both for your home and its contents.

You can buy the following add-ons (known as 'riders') for greater protection.

• Overland water – Ontario is no stranger to flooding and overland water issues. There is also the threat of melting snow in the springtime. This add-on helps protect against damage from this type of overflowing water.
  
• Sewer back-up – In cases where the main sewer backs up, or water from downspouts, septic tanks, drains, and eaves troughs cause damage, this add-on will protect you.
  
• Earthquake – Covers losses or damage caused by an earthquake. This coverage makes more sense for people living on the West Coast, where there is a potential for earthquakes to cause structural damage to your home.
  
• Mass evacuation – Weather, forest fires or other major events can create so much damage that it causes the need for a mass evacuation. This comes with expenses for temporary housing, commuting and even everyday necessities like food. It is best to talk to your provider about how much coverage you can get during your temporary displacement.
  
• Identity theft – Covers the cost of replacing important documents, such as your passport.
  
• Lock replacement – If you need to replace the locks on your house, this add-on provides coverage.

How much insurance coverage do I need for my home in Burlington? 

The home insurance buying experience differs slightly for everyone. Your insurance needs are tied to your unique circumstances. A larger, upgraded home usually costs more to rebuild than a smaller starter home; if you own one of these, you might pay more than the average for your city or province.

Here's another example: newer homes with state-of-the-art security systems aren't surcharged, but properties in higher-risk neighbourhoods with no alarm system usually are, which makes a difference in price and the type of coverage available. It's best to talk to an insurance professional to determine the right policy for you. 

What risks do homeowners face in Burlington? 

Home insurance can look the same from city to city in Canada. Still, differences in climate, geography, public utilities, and housing stock, to name just a few, contribute to the overall risk level of a region. This contributes to the cost of a policy and means that rates vary a lot by region. 

Some risk factors that Burlington homeowners should look out for include:

• Freezing temperatures. Canadian winters can cause extensive damage to pipes, causing them to freeze and burst. 
  
• Flooding and water damage. Burlington has seen its fair share of rain. In the summer of 2014, the city received two months' worth of rain in three hours, causing extensive damage. Also, heavy snowfall can do damage to roofs and other structures. Snow thawing can be equally threatening, especially to homes with basements. 
  
• Sewage pipe backup. A home's pipes can get clogged or backed up if the main sewer lines become clogged. This can do significant damage to a home. 
  
• Attic rain. Hot and cold weather can cause freezing in the winter and melting in the spring. The resulting water then trickles down into the rest of your home, causing stains, structural damage, leakage around electrical fixtures and black mould. 

Typical home insurance in Burlington will cover your personal belongings (appliances, home furnishings and some electronics) and protect you from personal liability if you're sued by someone injured on your property. 

Certain perils are also covered by standard insurance policies, including: 

• 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 certain perils that standard Burlington home insurance policies won't cover. In these cases, add-on protection may be available at an extra charge. Non-standard coverage you can purchase include: 

• Insurance for renting all or part of your property to long or short-term tenants or guests. 
• Liability for clients or customers visiting a home-based business. 
• Natural disasters, such as earthquakes and landslides. 
• Certain water damage, such as sewer backup 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). 

Insurance companies don't cover the following scenarios under any circumstance: 

• Injuries or damage caused either intentionally or by illegal activity. 
• Damage caused because basic measures of protection and maintenance weren't taken. 
• Damage from insects and rodents.