Home Insurance

in Ontario, with Excalibur’s
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We believe ‘thinking two steps ahead’ helps people sleep at night. Our promise? We think beyond the obvious to reduce rates. We do the push-ups on your behalf behind the scenes.  We  provide the guidance required to eliminate blind spots. You experience all of that from the moment we meet.

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Why Do You Need Ontario Home Insurance?

To Rebuild

If there’s a fire or natural disaster, your policy needs enough coverage to rebuild your home.

To Replace

If the items in your home are stolen, destroyed, or vandalised your policy will pay to replace them.

For Lawsuits

If someone is injured on your property and decides to sue, your policy will handle everything from legal fees to the settlement.

Your Lender

If you have a mortgage your lender will require that you carry the proper insurance on the property.

The easiest way to simplify the ‘home insurance’ quote process, and protect your family?

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Protection Options for Your Home

Interactive Coverage Map

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Your Broker Should Know

What is the cost of a total rebuild for your home?

Is any of your property not covered as general contents?

What discounts are available on top of multiple policy?

Which insurance companies have the best reputation when dealing with a claim?

To discuss these or any other questions with a broker give us a call or

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Watch our Video “Frequently asked Questions”

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Home Insurance Blogs

It depends. Everyone’s circumstances look different. You and your family may live in a duplex, a two-story, a mansion, etc… Your insurance should reflect your needs. Home insurance is a safety net that can offer financial compensation if your home is damaged or destroyed. It can also help you if a guest or third-party should file a claim against you for unintentional bodily injury or property damage.

Depending on the crime rates where you live, the features of your home, the size of your home, replacement value, weather, etc., your home insurance needs and premium will look very different than those of your neighbour’s. Thankfully, an Excalibur broker can work closely with you to determine your exact coverage needs so that you can choose a policy that works best for you.

Home insurance premiums are calculated based on your circumstances and coverage amounts.  The following factors may play into how much you will pay for your home insurance:

  • If you live close to a fire station or hydrant,
  • Your area – how high the incidence of break-ins or vandalism is where you live,
  • Your home systems: electrical, plumbing, heating, ventilation,
  • Age of your home,
  • Past claims,
  • Luxury additions: pools, trampolines, etc.,
  • If you are near a large body of water,
  • …and more.

There is no one number that can summarize the cost of home insurance in Ontario. To get an accurate sample of how much home insurance would cost for you, apply for a quote – it’s free!

There are several variables that impact the cost of home insurance, and every provider will underwrite risk very differently, making for a lot of variation.

Applying for a quote with Excalibur is the best way to see how much home insurance will cost for you. Doing so only takes a few minutes of your time and can start you on your way to great coverage at the lowest rates available.

Because home insurance depends on so many different things, the cost of home insurance can vary. If budget is a concern of yours, you may be looking for ways to lower your home insurance premiums. Here are a few ideas:

  • Raise your deductible
  • Install home security systems
  • Bundle your home and auto from the same insurer
  • Shop around
  • Be “claims – free”
  • Ask about discounts

If you have a mortgage, your lender will require you to purchase home insurance before you can “close” on your new home. You will want to take the time to shop around for the best policy for your needs (or work with an expert broker like Excalibur, who can do that for you.)

Otherwise, it’s a good idea to start looking for home insurance as soon as you’ve signed a contract to purchase a new home. This gives you time to get insured before you close.

No, home insurance is not mandatory in the province of Ontario. However, if you do not own your home or have a mortgage, you may be required to purchase coverage. If you live in a rental home, you may want to consider tenant’s insurance, as your landlord’s insurance will not cover your liability or possessions. If you do own your home, home insurance is not a requirement,  but is highly recommended to protect you and your family’s biggest investment.

If you need to do repairs or rebuild following an insured loss, you can get the financial compensation you need without having to pay solely out of pocket. Your home insurance can also offer financial protection if a claim from a third party leads into a lawsuit.

Your landlord may put a clause in your lease which requires you to purchase tenant’s insurance, which covers your liability and your possessions. If not, it is still a wise idea to purchase tenant’s insurance for a small cost per month to protect everything that your landlord’s insurance will not. Your landlord may already have a policy that covers the physical structure of your unit (excluding modifications or additions) and their liability, but not your contents or liability.

Maybe. Depending on the valuables you own, your home insurance may include coverage for these items up to a stated limit. If your home insurance is not enough to cover your valuables, you may purchase an additional jewelry or collectibles rider.

A deductible is the amount you pay out before your home insurance provider steps in to cover the rest. For instance, say you suffered a loss or damages that was covered under your home insurance policy that cost you around $4,000. If your deductible was $1,000, you would need pay that amount for any repairs or replacements before your company paid out the remaining $3,000. You can adjust your deductible amount, but the rule of thumb is that the higher your deductible, the lower your rates.

Policies will vary from provider to provider but there is a number of items that will likely not be included in your policy. If you have an all-risk policy, you have coverage for all damage apart from those that your insurer mentions explicitly. Frozen pipes, wear and tear, vacant properties, and certain valuables may not have coverage.

Certain disasters will also not be included in your home insurance coverage, such as flooding, and earthquakes. You may be eligible to purchase these as an add-on, depending on where you live. For some valuables, you can buy higher limits of coverage.

Yes, your policy could be cancelled (or dropped.) If you are dropped, you will not receive a renewal at the expiration date of your existing policy and you will need to look for a new provider. If this is the case, your previous provider will inform you that you will be dropped so you can look for new coverage in the meantime.

Your insurance company can cancel you at any point (you will receive notification) due to circumstances such as misrepresentation, non-payment, or increase in risk exposure. You may be made aware of your cancellation between 10 to 30 days.