Home Insurance in Vaughan

Home insurance solutions made for Vaughan homeowners

Tailor-made property insurance is our specialty here at BrokerLink. That means that when you get in touch, one of our insurance advisors will work to find a policy that meets your specific needs. For instance, if you own a seasonal property and are looking for help finding vacation property & cottage insurance, we can help. Similarly, whether you rent your home, own your own place solo, or want help finding options for married couples, BrokerLink Vaughan is here. We can find personalized coverage for all Vaughan residents.

Are there any home insurance requirements I should be aware of in Vaughan?

There might be. Home insurance requirements are not provincially mandated like car insurance, which makes answering this question a bit trickier. Requirements for home insurance ultimately vary from person to person, as it depends on factors like whether you own or rent your home and whether you have a mortgage on your home or not. Generally speaking, if you bought a Vaughan home with a mortgage and are still paying off that mortgage, you probably need to have home insurance. Your mortgage lender likely made this a condition of the lease agreement. Meanwhile, if you rent a home in Vaughan, the odds are pretty good that you need to purchase tenant insurance, though it’s not a guarantee. Some landlords require it while others do not. If you aren’t sure whether you need tenant insurance or what tenant insurance is, check out BrokerLink’s complimentary tenant insurance guide and call BrokerLink to have a broker review the terms of your lease agreement.

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Three important types of home insurance coverage in Vaughan

Did you know that there are three main components to home insurance in Canada? That’s right, you will quickly learn that most Vaughan home insurance policies contain three coverage types: dwelling coverage, content(s) coverage, and personal liability coverage. Even the most basic policies usually have this coverage. Further, even if you purchase a different type of home insurance, like high-value home insurance or vacation property & cottage insurance, you will still likely need this coverage. Keep reading to learn more about these three important types of home insurance coverage, including what makes them so vital:

Dwelling coverage

Why is dwelling coverage so important? Mainly because it protects your home from property damage, which is one of the biggest risks your home faces. More specifically, this type of insurance can cover you if your entire home or a portion of it is damaged by a named peril. Named perils, also known as covered perils or insured perils, are specific causes of damage that your home can be protected against. Some of the most common are:

• Fire
• Lightning
• Smoke
• Theft
• Wind
• Car / aircraft impact
• Explosion
• Falling objects

Content(s) coverage

Content(s) coverage is another type of home insurance coverage that is important for Vaughan customers to have. This type of coverage protects you if the personal belongings in your home, such as furniture, electronics, sporting equipment, and more, are lost or damaged due to an insured peril. Insured perils for contents coverage are often similar to dwelling coverage, meaning that in the event your belongings were stolen or damaged due to fire, wind, smoke, etc., you could receive compensation from your insurance provider. Please note that standard contents coverage may not be enough to cover personal items of extremely high value, like artwork, vintage wine, and fine jewellery, so if you have any such items in your home, make sure to inform an insurance broker and they can give you advice on the best coverage for you.

Third party liability coverage

Personal liability coverage, also referred to as third party liability coverage, is important for a wide range of insurance policies, not just home insurance. However, for home insurance, it is especially important as it can protect homeowners from third party claims of bodily injury or property damage. Since claims such as this can easily turn into lawsuits, which are often expensive, having this type of coverage in your Vaughan home insurance plan is vital. With this type of coverage, your insurance provider may step in to cover the costs of legal fees, medical fees, and repair bills up to the policy limit.

Extra Vaughan home insurance coverage for added peace of mind

Dwelling, contents, and personal liability coverage are not the only types of home insurance coverage available to Vaughan policyholders. In fact, the following is a list of extra coverages that you will frequently see on Vaughan home insurance plans:

• Business coverage: This is ideal for policyholders who operate businesses out of their homes, as well as some policyholders who work from home regularly. Business coverage can be purchased as an entirely separate policy or added to an existing home insurance policy as a rider or endorsement, each insurance company is different when it comes to business coverage.
• Equipment breakdown coverage: Is your worst nightmare the thought of your refrigerator breaking down overnight? Then equipment breakdown coverage might be for you. When you add this type of insurance to your home insurance plan, you can be reimbursed in the event that a piece of equipment in your home, like your washer, dryer, oven, furnace, etc., breaks down due to a mechanical or electrical failure and needs to be repaired or replaced.
• Sewer backup coverage: There is nothing worse for a homeowner than experiencing a sewer backup - especially without insurance. Thankfully, sewer backup coverage exists to help Vaughan policyholders pay for the cost of water damage in the event that this worst-case scenario occurs.
• Overland water coverage: Ontario is known for its heavy snowfall come winter, which is what makes overland water coverage so important. This type of flooding coverage offers protection against flooding in your home that is caused by a nearby lake/river, overflow, heavy rain, or rapid snow melt.

Ultimately, if you need help deciding whether to add extra home insurance coverage to your policy, BrokerLink can help. Give us a call and one of our friendly brokers will be pleased to assess your situation and offer their professional opinion on the best home insurance coverage for your needs.

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Don’t expect your Vaughan home insurance plan to cover the following

Just as Vaughan policyholders must be aware of what their home insurance policies cover, they must also be aware of what their home insurance policies do not cover. The following is a list of circumstances in which you may not be covered by your property insurance plan. In other words, if you were to file a claim related to any of the following, your insurance provider may reject it:

• Renting your home to guests: If you rent out your home to guests, a process known as home sharing, your insurance policy may not cover you for damage caused to your property due to these guests.
• Leaving your home empty for an extended period: If you are going away for an extended period of time, during which your home will be left vacant, your insurer may not cover you if your home is damaged or the victim of burglary. You must inform them of your plans to vacate the home to ensure you have the necessary coverage.
• Neglecting your home: If you do not take care of your home properly, and this lack of care results in damage to your home, your insurance company may be within its rights to deny your claim.
• Renovating your home: Home renovations can increase the risk of damage, which is why Vaughan policyholders should not assume that their property insurance policies cover them for losses related to home renovations. We strongly urge you to notify your insurance broker or agent before beginning renovations.

How can I save money on Vaughan home insurance?

If you’re looking to save money on Vaughan home insurance, then you’re in luck. The BrokerLink team has put together a list of tips to help you avoid overspending on home insurance. With the tips below, you can qualify for a wide range of insurance discounts, lower your premium, and more:

• Whenever your home insurance policy is up for renewal, review it carefully to see if there are any coverages you can afford to remove or reduce
• Bundling home and auto policies and get up to 15% off on each policy
• Select a higher home insurance deductible or raise your existing deductible by $500 or $1,000
• Pay for your Vaughan property insurance policy upfront in one instalment
• Avoid buying a Vaughan home that has a swimming pool
• Install a monitored security system and fire alarm in your Vaughan home
• Prioritize fire safety by purchasing a Vaughan home near a fire hydrant or fire station
• Install a sewer backup prevention device in your home
• Contact an insurance broker and ask for more information on home insurance discounts in Vaughan (e.g. non-smoker discounts or discounts through your employer, volunteering,, or educational institution)

We’re in your community

BrokerLink Vaughan is here for you. We consider ourselves to be a part of the Vaughan community, and we don’t take that responsibility lightly. We will do everything we can to meet your insurance needs, whether that involves finding you a new policy, helping you renew an existing policy, or simply providing you with a complimentary quote.

Contact us

At Vaughan BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible.

You can reach us by phone, email, or in person at our Vaughan location, conveniently located on Director Court. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Vaughan home insurance FAQs

If you have any questions, contact one of our local branches.