Home Insurance Newmarket: Rates, Quotes, Consumer Tips

Home Insurance Newmarket: Intro

Welcome to your Home Insurance Guide for Newmarket. 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 Newmarket.

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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 Newmarket. 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 Newmarket?

  • Neighbourhood: For your personal safety and possible lower premiums, live in a low-crime, safe neighbourhood.
  • Stop smoking: Some insurers increase their premiums for the homes with smokers since this means an increased risk of fire
  • Benchmark your costs: Use price comparison tools to know how much other companies are charging for similar policies, and check with your peer group to see if these comparisons are similar within your demographic.
  • Home Insurance deductibles: Raise your deductible to lower your premium.
  • Plumbing insulation: Insulate your pipes to prevent them from freezing in the winter. This may reduce or even avoid insurance claims.
  • Pipes: Insurers prefer copper or plastic plumbing. Consider upgrading your galvanized/lead pipes during your next renovation cycle.
  • Heating: Insurers like forced-air gas furnaces or electric heat installations. If you have an oil-heated home, you could be paying more for insurance. Keep this in mind when you are house hunting.
  • Seniors: Many seniors can benefit from senior pricing.
  • Employee / Union members: IBM Canada and Research in Motion offer discounts to union members. Check to see what your employer or union offers.
  • Interested in more saving tips for Home Insurance in Newmarket? Get an insurance quote below and connect with an experienced insurance professional to get more tips

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