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Find the Best Home Insurance Policy in Hamilton

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How to get your Hamilton home insurance quotes on RATESDOTCA

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Written By Taras Trofimov

Updated

How RATESDOTCA finds the best insurance in Hamilton

RATESDOTCA provides you with a broad selection of quotes by working with Hamilton home insurance companies and brokers. We quickly collect your information to generate the best offers from each of our partners. Our service is easy and free to use.

By comparing Hamilton home insurance quotes from several insurance providers in a single place, you can instantly assess the market and find the best policy to protect your property.

Hamilton home insurance premiums vs. Ontario home insurance premiums
Annual premium Monthly average premium
Ontario’s average home insurance premium $1,284 $107
Hamilton's average home insurance premium $1,273 $106

According to data from the RATESDOTCA database, the cost of home insurance in Hamilton is nearly in line with the provincial average.

The figures shown above include homeowner’s insurance for houses – detached, semi-detached, townhouses and row houses – only. Condo insurance, which is typically less expensive than house insurance, has been excluded.

Frequently asked questions about Hamilton home insurance.

How much does home insurance cost in Hamilton?

The average cost of Hamilton home insurance for a RATESDOTCA users in 2020 was $1,273 per year, compared to the provincial average of $1,284.

Because each home insurance policy is unique to the property and its owner, the average price for a location should be considered more of a point of interest than a reliable indicator to set expectations by. Different factors, such as your home’s insured value and the neighbourhood in which it’s located, will determine the cost of your insurance.

Shopping around is the best way to save on Hamilton home insurance, and it allows you find a policy that fits your needs. Insurance companies use their own formula to assess risk, so each company will provide a different insurance quote.

Why does Hamilton home insurance cost less than the provincial average?

The average cost of home insurance in Hamilton is just under 1% cheaper than the provincial average. This is because Hamilton homes face risks common among many Ontario cities, such as freezing temperatures, flooding, sewage pipe backup and windstorm damage.

Which company offers the cheapest Hamilton home insurance?

There’s no one company that offers the best home insurance rate in Hamilton. Each quote you receive is determined by your property and claims history.

The best way to find the cheapest home insurance in Hamilton is to comparison shop. Getting quotes from as many insurance providers as possible will help you understand what constitutes an average rate, as well as find the most affordable policy.

What risks do homeowners face in Hamilton?

Homeowners in Hamilton face similar risks to homeowners in many other Ontario cities. This includes:

Freezing temperatures: Cold winters with temperatures reaching -30C means the potential for burst and frozen pipes.

Flooding: Excessive melting snow from the winter months can cause floods, which are especially threatening to homes with a basement.

Sewage pipe backup: Your home’s drain pipes or main sewer line can become clogged, which can cause water damage.

Windstorms: An Ontario windstorm in November, 2020, hit Hamilton and other surrounding areas, causing $87 million in insured damage.

What is covered by most Hamilton home insurance policies?

Typical home insurance in Hamilton will cover your personal belongings (appliances, furniture and some electronics), and personal liability if you’re sued by someone injured on your property.

Certain perils are also covered by standard insurance policies, should damage occur to your dwelling and contents, including:

  • Fire
  • Lightning
  • Some 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 earthquake, land slide or snow slide)

What is not covered by most Hamilton home insurance policies?

A standard home insurance policy in Hamilton doesn’t cover everything. Here are some things that policies typically do not cover without an add-on:

  • Home-sharing activities, such as an Airbnb. Guests might be covered, but using your home as a rental will likely require additional coverage.
  • Criminal activity and purposeful damage to property, or intentionally injuring someone on your property. Filing a claim for purposeful damage or injury is fraud, and you could be charged under the law.
  • Moral risk, such as not taking care of, or disregarding measures to protect your home.
  • Home-based business assets.
  • 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 caused by frozen or burst pipes.
  • Damage from insects and rodents.

Coverages that protect against these perils can be added to your insurance policy for an extra fee.

How do I save on Hamilton home insurance?

There are a few things you can do to help reduce your home insurance premium in Hamilton.

  • Bundle your home insurance policy with your auto insurance policy.
  • Increase your deductible.
  • See if your union or alumni is eligible for a discount.
  • Equip your home with safety features, such as smoke detectors and intruder alarms.
  • Don’t file a claim if the cost of repairs is close to the amount of your deductible, as past claims can cause premiums to increase.

Save on Hamilton insurance

Your home is a big investment and you should protect it with the right coverage. No matter what type of house you live in, RATESDOTCA can help find Hamilton home insurance to fit your budget.

Let us do the work for you!

*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.

Taras Trofimov ,
Content Manager

Taras has over nine years of content marketing experience across multiple industries in B2B and B2C spaces. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like Huffington Post and MSN Canada.

He graduated from York University with a Bachelor of Arts degree and studied Technical Communication at Seneca College.

Experience
  • Home Insurance
Education
  • Bachelor of Arts at York University

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