Home Insurance Hamilton

Get a home insurance quote for your Hamilton property in minutes! Weather you are renting it out, purchasing a second home or are simply looking for a tenant policy, we can help! 

Home Insurance in Hamilton, Ontario

Living in Hamilton can be a dream come true for many. With so many beautiful waterfalls to see and endless trails to explore, Hamilton is the perfect place to call home. 

For many families, their home is often their most valuable and expensive asset. With real estate prices rising so rapidly in Hamilton, the last thing anyone would want is to loose their home. Your chances of having your home destroyed are not very high, however the risk does exist and is very real. With storms becoming more frequent and flooding being the most common cause of loss, insuring your home should be a top priority. 

How much will my Hamilton Homeowners Insurance Cost? 

The way home insurance rates are created are slightly different than how auto insurance rates are determined. The biggest similarity is that your premium is based on number of losses in your neighbourhood. If your neighbourhood is considered a “high-risk zone” for flooding, you may pay a lot more for sewer-backup and overland water coverage or companies may decline to offer it completely. 

A few factors that may change your home insurance rate  also include the age of your home, the build of your home, the size, when it last had updates done and the number of families living in it. 

Due to many recent home insurance claims, insurers are becoming extremely strict with their underwriting and who they accept. This is why it’s very important to be completely transparent with your insurance broker/company to ensure if something ever does happen, your claim won’t be denied for misrepresentation. 

One of the most common cases of misrepresentation occurs with rental properties. If you own a second house which you are renting out to one or more tenants, you need to tell the insurance company the exact details. Some companies do not accept rental properties with more than two separate families living in them. 

How Can I Cover My Home Properly But Keep My Insurance Down?

When it comes to shopping for home insurance, price should never be your priority. First you need to select the correct coverages to ensure you are fully covered. Once you have your selection, only then should you compare those exact coverages among all of Ontario’s home insurance providers. 

This is where an experienced Hamilton home insurance broker can help. Hamilton has many different flood zones with certain companies offering optional coverages and other companies offering nothing. 

Tip: A very important piece of information for house insurance is that flood coverage is optional. If you are shopping for yourself, you must specifically ask for sewer-backup and overland water as an extended coverage as most companies do not include it as part of their basic policies. 

In order to keep your house insurance low, you must look for all possible discount you qualify for and more importantly, check what each insurance company offers. The most common discount is the bundle discount. Most people insure their house insurance with the same company insuring their vehicles to get a discount on both their home and auto insurance as well.

Getting The Best Home Insurance Rate in Hamilton

Would you like to speak to an insurance broker? We would be happy to review your current Hamilton home insurance and offer our advice! You can get a quick home insurance quote simply by calling (416) 803-2113 or emailing filipa@pbnet.ca. We look forward to speaking with you! 


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