Family holding a cardboard roof over their head signifying home insurance

You’ve now just bought a home in Ontario but you’re confused on how to go about purchasing home insurance - well we’re here to help. 

There are several aspects to consider when thinking about buying home insurance - while the policies differ by province, we’re here to help you figure out the best tips for buying home insurance in Ontario. 

Think About What You Need Covered

Consider the process of figuring out how much insurance you need from most drastic and extreme to things you may deem fully irrelevant. 

For example, just how much money would you roughly need to cover the entire loss of your home in case of an unfortunate incident - this is an insurer’s foundation. 

It may not be enough to simply purchase just what you need to cover the load of the home - you should always plan ahead for the absolute worst case scenario so you’re fully covered. 

What Exactly Does Your Insurance Cover? 

Remember that every home insurance provider is different. Some may offer better coverage on damage caused by natural disasters like lightning, hurricane flooding, and more. 

While others may insure better policies for newer constructions or more modern condos and townhomes or even on the opposite end - much older homes or mobile homes. 

Check out the condition of your new home first before making a big decision on which coverage would be best for you. 

Some of Canada’s best home insurance providers based on a number of aspects including price and policy offerings are:

How To Prepare For Finding The Right Fit For You 

So you think you’ve found the right home insurance provider but you’re still having doubts, why? Because you’re not the expert. 

Your next step would be to hire the people that are the experts. 

A financial advisor - if you don’t already have one - is a great example of a perfect resource to solidify your big decision making with all the numbers laid out. Or even to ease the stresses you are inevitably having about buying a home as it’s a big investment, and directing you to all the right connections if they don’t already have the information on what you need. 

Glenn Kho Durham Region Realtor

Contact us today to help you with your next home

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Posted by Dan Plowman on
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