Home Insurance in Ontario

What You Need to Know

Since your home is one of your biggest investments in Ontario, it makes sense that you want to learn as much as you can about how to insure it. Your home protects not only you, but the people and belongings that matter most to you in Ontario. Make sure you have the right home and property insurance that suits your needs in Ontario.

While homeowners insurance coverage can vary between providers in Ontario, most home insurance policies in Ontario can be split into two main categories: property and liability.

While home insurance covers any damages to the physical property that you own, the liability portion of your policy is meant to protect you if actions you take, or actions which take place on your property, or anywhere in the world result in a lawsuit or claim. You are able to choose the level of home insurance you need, which can range from basic to comprehensive coverage.

Choosing a home insurance plan that is the right fit for you will depend on many different factors – and it can be a challenge to figure out on your own. Speaking to an agent or broker can help you learn more about what types of coverage are available and will help you zero in on which policies are the most relevant for your property.

What does home insurance cover?

A typical home insurance policy covers losses and damages to your residence and other assets in the home, including in Ontario This coverage depends on your individual policy and coverage level, so perils you are protected against will vary. The perils and risks you choose to add to your policy will largely depend on your specific situation and region.

The main advantage of working with an insurance broker is that they can help you navigate the terms of your potential policy, including those applicable in Ontario, so you won’t need to figure it out on your own. James Campbell Insurance brokers can help you go through the ins and outs of your home insurance policy so you know exactly how you’re covered.

While this list isn’t exhaustive, here are some examples of the perils or risks that can be included on home insurance policies:

Falling objects
Wind
Hail
Floods, earthquakes, hurricanes and other major storm episodes
Fires or wildfires
Vandalism or theft

What doesn’t home insurance cover?

In addition to knowing what is covered by insurance, you should also have a good understanding of what will not be covered. For example, maintenance costs of your home or any general wear and tear are not covered by home insurance.

Insurance policies will vary in complexity and the coverage options can be split into three main categories. The way these perils are included or excluded will inform what category it belongs to.

Basic/Standard Policies

While options do vary between providers and regions, all basic insurance policies will typically cover your home if it suffers from damage due to events like fire, lightning, storms or hail. The events that are included in a basic coverage will vary based on your specific home, but keep in mind that only the perils listed in the policy will be covered.

Broad Policies

Broad coverage refers to general home protection where you will receive a wide range of coverage in addition to specific risk protection. Included with basic elemental protection, broad coverage will protect your home against damage from theft or vandalism. Broad coverage can also include coverage for unanticipated damages such as burst pipes. Be sure to speak with your broker about what is or isn’t included in a broad home insurance policy as it must be specified in order to be covered.

Comprehensive Policies

Comprehensive home insurance policies will help cover your home from the widest varieties of causes, but will still have some perils that will be specifically excluded. Most homeowners prefer to go with a comprehensive insurance policy to give themselves peace of mind and the knowledge that damages to their home will be protected in almost any situation.

Why Choose James Campbell Insurance for Your Home Insurance in Ontario?

At James Campbell, we put you first. Our clients are our top priority and the backbone behind everything we do.

We can help provide you with protection from insuring your first car, your first home or business, or even giving you protection during your retirement travels. Whatever you need coverage for, we’ve got your back. We will make sure that you are ready to live a life free of stress or worry so you can focus on life’s important moments each and every day.

James Campbell Insurance Brokers have been taking care of our members for over 40 years. This is why we are able to make insurance easy by offering you the right solutions at the right times. Our solutions are tailored to fit your individual needs, no matter what they may be.

FAQs

If I Am Renovating My House, Do I Need To Let My Broker Know?

This depends on the size of the renovation. Cosmetic renovations such as new flooring, painting or updates to kitchens and bathrooms are not a material change in risk and therefore, do not need to be noted. However,if you are adding value to the house, such as finishing the basement, it is important to let your broker know, so we can ensure the limit on the house is sufficient.

Any renovations that include additions to the house are important to let your broker know, so they can ensure proper coverage is in place, as this is a material change in risk.

Are My Recreational Vehicles Insured Under My Homepolicy?

No, they are not. A recreational vehicle requires a separate insurance policy or in some cases, it can be added onto your auto policy.

Is My Jewelry Covered Under My Contents On My Homepolicy?

There is a section in your home policy called special limits. This will include some coverage for Jewellery. Limits vary by insurance company, but there is usually around $5,000 for Jewellery coverage. Any big items,such as watches, wedding bands, etc., should be scheduled on your home policy. If you have questions on your specific coverage, it is important to contact your broker.

What are the distinctions between condo insurance and home insurance?

The primary contrast between home insurance and condo insurance lies in their coverage scope. Although both types of insurance offer personal liability and contents coverage, they diverge in various aspects. Notably, home insurance is specifically tailored to protect the entire structure of a house, while condo insurance mainly focuses on covering the improvements and betterments made within the unit. It is important to mention that the Condo Corporation typically insures the remaining portions of the unit.

What are the distinctions between tenant insurance and home insurance?

The key distinction between tenant insurance and home insurance is based on property ownership. Tenant insurance is specifically designed for individuals who rent a property and require coverage for their personal belongings and liability. On the other hand, home insurance is intended for homeowners who need comprehensive coverage for their property, belongings, and liability. Tenant insurance focuses on protecting tenants’ possessions and liability within a rented space, while home insurance provides broader coverage for property owners, encompassing their residence, personal items, and liability. It is essential to choose the appropriate insurance policy based on your specific circumstances to ensure adequate protection.

What are the differences between home and cottage insurance?

The primary distinction between home insurance and cottage insurance is the purpose and occupancy of the property. Home insurance is specifically designed to provide coverage for primary residences, where individuals live on a year-round basis. On the other hand, cottage insurance is tailored to protect secondary properties, such as vacation homes or seasonal cottages, that are primarily used for recreational purposes and may be unoccupied for certain periods. Cottage insurance takes into account the unique risks associated with vacation properties, such as vandalism, water damage from freezing pipes, and coverage for detached structures like boathouses or sheds. It is important to obtain the appropriate insurance policy based on the specific usage and occupancy of your property to ensure comprehensive protection

Katrina Best

2023-02-12

I wanted to highlight the exceptional service provided by Brian Morton. He offered exceptional advice, limitless support, and endless patience while answering all my questions about travel insurance. He is thorough in his works and shows dedication to giving the best advice and service to all his customers. My family has trusted James Campbell with our car insurance for around 5 years, and we appreciate the continuous support in all types of insurance. Thank you Brian for explaining the logistics of different policies and breaking it down into an easy-to-understand way. I will be sure to use their services again in the future.

Ian Newton

2022-08-08

Excellent service from experienced people, Terri Lynn excellent knowledge and very responsive. Highly recommended.

Amanda Southern

2022-03-25

Terri-Lynn was amazing and super knowledgeable about our families needs for insurance. She made changing our insurance companies absolutely seamless. I definitely recommend her and James Campbell for anyone looking!!

Basil Fernandes

2022-03-07

I have been with James Campbell Insurance with home and auto insurance most of my adult life and Terri-Lynn Thompson has been there for me. Terri has always found the best insurance for my needs at any given time or circumstances. She is professional, gives great advice and guidance. I would highly recommend their services to anyone.

Michael Evans

2022-02-25

I have been with James Campbell Insurance for over 10 years now. I have nothing but good things to say, customer service is excellent. Terri-Lynn has been a great help over the years. Always finds what policies best work for us. Highly recommend for anyone looking for an insurance broker to work with!

H S

2022-02-24

Cannot say enough about James Campbell! Our family has used them for years and I only wish I had switched sooner. Having a dedicated broker to help walk through insurance questions has been invaluable (our past insurance company was a different call centre rep each time). Lesley is fabulous and we have also had great experiences with Terri-Lynn and Karen.