Home Insurance in Brantford, Ontario

Coverage of home insurance in Brantford, ON

There are different types of home insurance depending on your needs. Here are a few of the coverage options you can choose from when looking for a Brantford home insurance policy.

Comprehensive

This is the most inclusive type of policy. It covers the house itself and the stuff inside of it. The specific items that are covered or not depend on the policy. Things like earthquakes and a sewer backup might not be covered, so be sure to talk to your broker to determine what’s covered and what isn’t.

Broad

Broad coverage isn’t as extensive as comprehensive, which means it’s less expensive. It covers the big things like the building itself.

Basic or named perils

This type of policy only covers things that are specifically named in the policy. It’s a less expensive option, but it means you have to carry some of the financial risk yourself.

Personal liability

As a home owner, you can be held liable if someone is injured on your property, or if there is unintentional property damage. This can sometimes result in a lawsuit against you, and legal fees add up quickly. Liability coverage can protect you from this type of risk.

If you want to learn more about the different types of home insurance coverage, the Insurance Bureau of Canada has lots of resources for you to check out.

How to save on home insurance in Brantford

Now that you know about the different types of home insurance available in Brantford, Ontario, we can already guess your next question: how can I save money on home insurance? Here are a few of our top tips for saving on your Brantford home insurance policy:

Buy a newly built home

You may be able to get a discount for a home that’s less than ten years old

Install safety features on your house

Installing an alarm system can get you a discount on your home insurance rate. Not all alarm systems will result in a discount. Make sure you talk to an insurance broker before installing anything to make sure that system makes you eligible for a discount.

Change your payment schedule

Some insurance companies offer discounts for paying yearly instead of monthly. Talk to your insurance broker to see if this is an option that makes sense for you.

Bundle bundle bundle!

Bundling is a great way to save money on insurance. This simply means your home and auto insurance are with the same insurance company. You can save up to 15 percent on each policy by bundling.

Factors affecting home insurance in Brantford, ON

When determining your home insurance rate in Brantford, insurance companies consider many different factors. Here are a few things considered when calculating rates:

• Where your house is
• The replacement cost of your home
  • A large home is more expensive to replace, which might mean a higher premium
• Your personal claims history
• Electrical wiring in your home
  • Certain types of wiring may have a higher risk of catching fire, resulting in a higher premium
• Plumbing and pipes
  • If your plumbing is old and more prone to leaking, you may have to pay a higher rate
• Fire places and wood stoves
  • If your home has a fire place or wood stove, it may affect your insurance rate

Consult with BrokerLink when buying home insurance in Brantford

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FAQs on home insurance in Brantford, ON

How does my claims history affect how much I pay for home insurance?

This is one factor that insurance companies consider when determining your rate. However, there are many other factors considered. If you have a history of claims on your home insurance, a broker can help find other ways to save.

What other types of insurance can be bundled with home insurance?

Car insurance is most commonly bundled with home. You can also talk to a broker about bundling with your cottage, motorcycle, second vehicle or boat.

Can renovations to my house affect my home insurance rate?

Yes, home renovations can impact your home insurance rate. Depending on the renovations you’re doing, it can cause your rate to increase or decrease. Be sure to talk to your insurance broker before you start any renovations to make sure you have the coverage you need to keep your assets protected.