Home Insurance Cambridge: Rates, Quotes, Consumer Tips

Home Insurance Cambridge: Intro

Welcome to your Home Insurance Guide for Cambridge. This page will give you an idea of Home Insurance Premiums in Ontario, will inform about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Cambridge.

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What Are Typical Home Insurance Premiums In Ontario?


This chart illustrates the average Renters and Homeowners Insurance premiums in Ontario and other provinces including Home Insurance in Cambridge. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.

Overall consumers spend in Ontario less on Home Insurance than in Alberta and British Columbia. That is the case due to more stable natural conditions e.g. lack of strong seismic activity like British Columbia or flooding similar to Calgary. Nevertheless the recent years demonstrated that nature can be also unfriendly in Ontario including flooding and ice storm that strongly impacted among others the whole Greater Toronto Area and nearby cites and towns. These were very significant natural occurrences that impacted people’s homes and, as consequence, home insurance.

Important note about flooding risk – typically overland flooding (e.g. due to strong rains or raised water level in rivers) is not covered by home insurance. Thus emergency government program(s) would be the only way to somewhat compensate financial impact of the flooding. flooding can be caused not only through a strong rain and storm but also through melting snow.

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How Can You Save on Home Insurance in Cambridge?

  • Claims-free discount: You can get rewarded for being claim free. Terms and conditions vary and not all insurers offer this discount, so ask around if you have been claim free for a long time.
  • Pool: Add a pool and you add value to your home as well as increased liability. Naturally, this comes with an increase in your insurance rates.
  • Monitoring: Is there other security like a doorman or security guard on the premises? This may mean an additional discount.
  • Repair instead claims: Consider your deductible and your potential raise in premiums before placing small claims. Is it worth it, can you repair it yourself?
  • Water damages: Water damage can cause ongoing maintenance issues. Have an inspector check for water damage and learn if there has been a history of water damage before you buy a house.
  • New Home: Some insurers offer a new home discount. Check with your insurer to see if they offer this discount too (e.g. BCAA and Wawanesa)
  • Anti-theft protection: Home alarm systems are recognized by some insurers in premiums (e.g. The Personal)
  • Change your content coverage: Do you rent an apartment or condo? You can often lower your content coverage. No need to insure your belongings to up to $250,000 if you only have a laptop and some IKEA furniture!
  • Students: Some carriers provide discounts for students. (e.g.State Farm)
  • Interested in more saving tips for Home Insurance in Cambridge? Get an insurance quote below and connect with an experienced insurance professional to get more tips

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