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Home Insurance in Newmarket, Ontario

Who wouldn’t want to live in Newmarket? It’s the best of both worlds. We have that small town charm that makes our town a great place to raise a family. On the other hand, we’re close enough to Toronto that you’re always just a short train ride away from city life.

If you do choose to make Newmarket your home, you will need to protect it with the right home insurance. Home insurance protects you from the unexpected. It allows you to have peace of mind, knowing your loved ones are protected.

It’s hard to know what to look for in a home insurance policy. There is so much information out there that it can be overwhelming. That’s where we come in. A BrokerLink broker can explain everything you need to know about home insurance. We will walk you through the whole process and make sure you walk away with peace of mind. Keep reading to discover everything you need to know about home insurance in Newmarket.

Why is Newmarket home insurance important?

If you’re like most people, a home is the biggest investment you’ll ever make. Home insurance helps keep that investment safe. When the unexpected happens, your home insurance policy will protect you, your loved ones and your belongings.

Unlike car insurance, home insurance is not mandatory in Ontario. However, if you have a mortgage, most lenders require you to have home insurance.

What is covered under Newmarket home insurance?

What is covered under your home insurance depends on the plan you have. There are different types of coverages that protect different things. According to the Insurance Bureau of Canada, there are four main types of coverage you can purchase:

Comprehensive

A comprehensive policy is the most inclusive home insurance policy available. It covers the home itself and its contents, excluding uninsurable perils. Uninsurable perils can include things like flooding, damage from rodents or losses due to the policy holder’s criminal acts.

Basic or Named Perils

This type of policy means you are only covered for specific things. Choosing this type of policy means you might pay less, but you take on some of the financial risks yourself. Some common named perils are fire, smoke and falling objects.

Broad

You can think of broad coverage as a compromise between comprehensive and basic coverage. A broad home insurance policy will cover the building itself, as well as any named contents in the home you want covered.

Personal Liability

The most common example our brokers use to explain personal liability insurance is one you’ve probably heard before: the classic slipping on ice scenario. If someone slips on ice and falls on your property, they could seek damages for any injuries they incur. Personal liability insurance will cover any legal costs that result from an event like this. Note that personal liability insurance does not cover people who live in the home in question.

How can I save money on home insurance in Newmarket?

For most people, home insurance is not an option. However, there are a few tips and tricks that will allow you to pay less for insurance.

  1. Bundle and save: If you have a car, you can bundle your home and car insurance policies to save on both.
  2. Install a home security system: A home security system can help keep you and your family safe. It can also mean savings on home insurance. Talk to a broker before you buy, as not all systems will result in savings.
  3. Quit smoking: Smoking isn’t just bad for your health. It can also cause your insurance premium to go up! This is because households with smokers have a higher risk of a fire occurring. Consider quitting this habit if you want to save money on insurance.

Simple steps that will help you get home insurance in Newmarket

Getting home insurance in Newmarket doesn’t have to be complicated. At BrokerLink, there are three easy steps to getting home insurance in Newmarket:

  1. Tell us about yourself: Give us a call, fill out a quote online, or come visit us at one of our community branches. Once we know a little more about you, we can tell you what insurance plan makes the most sense for you.
  2. We shop around for you: Once we know what kind of coverage you need, we check the rates at different insurance companies we work with. We find the best rate for your situation.
  3. Get the best coverage: Once we’ve done the shopping for you, we present you with your best option. You have the coverage you need at a fair price.

That’s all there is to it! Great coverage at a fair price.

Benefits of home insurance

Imagine the cost of all the contents of your home. Imagine you had to replace them all at once. Could you do it? Most people definitely could not. In the event that you have to replace everything in your home, the right home insurance will cover those costs.

No one ever thinks this is going to happen to them. But the reality is if someone is injured on your property and you are found negligent, they could seek damages. A simple fall on ice could result in years of legal costs. Liability insurance can protect you from an event like this.

If you have a mortgage, home insurance is not an option for you. Most lenders require proof of home insurance. This is because the bank owns part of your home, and they want to make sure that investment is protected.

How do I file a home insurance claim in Newmarket?

If you find yourself having to make a claim, we understand how stressful it can be. That’s why we will do everything in our power to make sure you, your loved ones and your belongings are safe.

If a claim situation arises, you can call your insurance company directly. They will walk you through the claims process. Alternatively, you can call your insurance broker. As a broker, we can give you independent and unbiased advice before you start the claims process. Either way, we are there to make sure the process is smooth and as pain-free as possible.

The best home insurance in Newmarket

If you’re looking for home insurance in Newmarket, look no further. We are here for you every step of the way. Whether you’re buying for the first time, renewing or filing a claim. Simply give us a call, stop by one of our more than 140 community branches across Canada, or visit us online. We are always ready to help with all your insurance needs.

FAQs

Do you really need Newmarket home insurance?

Home insurance is not mandatory in Ontario. However, if you have a mortgage, most lenders require you to have home insurance.

How can I get affordable home insurance in Newmarket?

A great way to get affordable home insurance in Newmarket is by going with a broker. Insurance brokers are independent. That means we work for customers, not insurance companies. You can trust you’re getting unbiased advice.

How much should I be paying for Newmarket insurance?

The cost of home insurance varies a great deal. There are a lot of factors that determine how much you will pay, including where you live and the value of your home. The best way to get an idea of how much you will be paying for insurance is by calling an insurance broker and getting a quote. Why not call today? A quote is free!