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Markham's best home insurance rates and coverage

Protect your family and property with proper home insurance in Markham. Having the right insurance plan in place can help you sleep better at night, knowing you’re covered.

Even though it's not legally required, it’s protection that will come in handy in many situations. Many threats exist. What happens if your home is broken into, and your stuff is stolen? Or what would you do if your home were damaged by fire, flood, or a large storm? Having a good home insurance policy protects your financial well-being in these and many other situations.

ThinkInsure will help you find the best policy at cheaper rates. Compare quotes from the top insurers in Canada and find the lowest premiums for home insurance in Markham. Get started online or speak to our home insurance advisors over the phone to find additional savings.

About home insurance in Markham

Whether you live in Markham or anywhere else in the province, you follow the same rules for home insurance. Ontario home insurance regulations are set by the FSRAO for the entire province.

Coverage is not legally required, but it's highly recommended. And, if you have a mortgage, you’ll need to show proof of insurance as a condition for your loan.

Homeowners can choose from basic to comprehensive plans with the opportunity to add customized coverage in many ways. The same rules and coverage options also apply to condo insurance and renters insurance.

How to get home insurance quotes in Markham

Markham residents can compare home insurance quotes from Canada's top providers in just a couple of minutes. Saving is as simple as following these steps:

1) Start your quote

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2) Enter your home details

Tell us about your home.

3) Compare best rates

See prices from the leading insurers.

Choose your policy

Select the lowest home insurance rate and get insured.

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How much does home insurance cost in Markham?

Home insurance premiums are set on a home-by-home basis so you could pay anywhere from $700 to $2,000 or more depending on your home type, size, and your plan choice. The average cost of home insurance in Markham is $1,539 per year. This is $128 per month. This is comparable to Toronto home insurance and other cities in the GTA.

Review insurance options to find the best plan for your specific situation. Comparing quotes with our brokers is the most effective way to shop and save.

What affects Markham home insurance premiums?

Square brick houses and other homes in neighborhood

There is an extensive list of things that could impact the average home insurance cost in Markham. Some of the most common factors include:

Your location (neighbourhood and postal code)
Home size and age
Local threats (crime rate, cost of claims, weather)
Home replacement cost
Proximity to a fire hydrant or fire station
Insurance deductible
Type of policy (basic, broad, comprehensive)
Additional coverage added to your plan (Insurance endorsements)
Home systems (roof, electrical, plumbing, heating)
Liabilities (pool, pets, trampoline, etc.)

5-star home insurance in Markham

Rated 4.7 out of 5 stars in 1463 Google reviews

We’ve helped thousands of Markham homeowners find the right home insurance for their needs.

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Kevin St Clair

2024-11-28

Betsy was a genuine pleasure to deal with considering the circumstances. Thanks again for all your help

Anthony Gomez

2024-11-27

Today, I want to take a moment to recognize Monica Chan, an exceptional insurance broker who has consistently gone above and beyond in her service to me. Monica's dedication to punctuality and consideration has been truly remarkable. She has always been prompt in responding to my inquiries and has never hesitated to offer her expertise and guidance. With Monica as my broker, I have never once felt worried about anything going wrong. Her proactive approach and attention to detail have provided me with peace of mind, knowing that my insurance needs are well-taken care of. Throughout our interactions, Monica has been incredibly helpful, patiently explaining complex insurance concepts and ensuring that I fully understand my coverage options. I wholeheartedly recommend Monica Chan to anyone seeking an insurance broker who genuinely cares about their clients' best interests. Her commitment to excellence and her willingness to go the extra mile make her an invaluable asset in the insurance industry.

Phyllis Baker

2024-11-20

Absolutely amazing service the broker Todd worked on my quote fast I recommend this company to anyone very professional I’m so glad I called them .. Thank you for your great work

Charles Cameron

2024-11-15

Betsy Bannon has been nothing short of amazing at helping us through the complex process of acquiring business insurance. She quickly understood our needs and expertly guided us to the right solution. From start to finish, she made us feel like her most important client which gave us the confidence that we were in great hands. We highly recommend Betsy!

Jermaine M

2024-11-05

I had a great experience with Patrick Vuong. He went above and beyond to help me update last minute changes to my policy in order to qualify for a government grant. Staying back late and coming in early the next day to help finishes the changes. Very kind and professional!

Mark Gaffney

2024-11-05

Betsy Bannon is a professional extremely friendly and knowledgeable and made my experience wonderful! Highly recommend her for any insurance needs. Mark Gaffney

fabian ward

2024-11-04

Great service! Prompt and very helpful! Thanks to Todd allan for really helping me out!

Stephen Mcfadden

2024-11-01

Great experience working with Sohel Rahman, appreciate his honest and can-do attitude. Highly recommend!

Ways to get cheap home insurance in Markham

Insurance is one of the many expenses to operate your dwelling. Reducing how much you pay can help you keep a little more money in your pocket. Here are some steps Markham residents can take to get cheaper home insurance:

Comparison shop to find the best rates before renewing your policy
Combine your home and Markham car insurance
Buy in a neighbourhood with fewer threats (lower crime rate, etc.)
Install a monitored home security system
Upgrade and renovate
Avoid over-insuring
Increase your deductible if you can do so
Pay annually instead of monthly
Inquire about discounts
Stop smoking

Markham home insurance FAQs

What are the types of house insurance in Markham?

There are four main types of home insurance plans to consider in Markham. Each one affects how much you will pay, and the type of coverage included. They are:

Comprehensive home insurance: You have coverage for most perils. Only those specifically excluded are not covered. This is the most expensive coverage option. Learn more about comprehensive home insurance.
Broad: You are covered for most perils, but there are more exclusions than in the comprehensive plan. Get more information about Broad form home insurance.
Basic (named perils) home insurance: You receive basic protection. You are only covered for what is listed in your plan. This is the most affordable plan, but it offers the least protection. Learn more about basic home insurance.
No frills: This is for nonstandard homes. It is intended for homes not typically covered under other policies.

You also have the option to add endorsements to your plan to customize your level of protection. Some of the common endorsements you can add include:

Extra water protection: You can get Overland flooding and sewer backup to ensure you’re covered for all situations.
Increased plan limits: If you want to add more protection
Home business: Operating a business in your house
Home sharing: If you operate an Airbnb
Identity theft insurance: Fraud is on the rise. Get extra protection and assistance if you’re targeted.
Jewellery insurance: Extra protection for your valuables.

What does home insurance in Markham cover?

Home insurance provides you with a variety of types of protection for Markham properties. If you experience damage to your property, you will be financially compensated based on your plan type. You also have liability protection if you are accused of negligence, or property damage, or are liable for someone getting injured on your property. Here are some of the things covered:

Personal contents (clothing, furniture, electronics, etc.)
Dwelling structures (house, garage, shed, pergola, fence, etc.)
Fire and smoke damage
Weather events (storms, lightning, hail, wind)
Fall objects
Theft and vandalism

Are all Markham home insurance policies the same?

No. Each policy is unique for a couple of reasons. First, insurers offer unique plans. They offer different types of coverage, limits, inclusions, and exclusions. Also, each Markham resident has unique home insurance requirements. You can customize your plan by adding endorsements. This is a reason it is not advisable to buy policies based on price alone. Always consider the protection and overall value of a policy when choosing between options.

Who is the best insurance company in Markham?

There is not one home insurance company that is the best in Markham. There are many excellent home insurance providers who provide good coverage and prices. They may offer different products, services, and insurance packages. Some are specialists and others are generalists. Focus on looking for a provider who can best meet your specific plan needs.

ThinkInsure works with the top home insurance companies like CAA, Aviva, Intact, Wawanesa, Economical, Travelers, Gore Mutual, Pembridge, SGI Canada and many more. Call us to get a quote. Or compare your options online.

Living in Markham and home insurance

Markham is a popular location for commuters. People choose to live here and commute. With more than 330,000 residents, it’s the fourth-largest city in the GTA. It has become a technology hub and the home to several head offices of large companies including Oracle, Huawei, and IBM.

The city is an amalgamation of many smaller communities and new modern neighbourhoods. It’s become an eclectic blend of neighbourhoods and housing options. Whether you are looking for a new build, condo, or something with character, you can find it.

Here is a breakdown of the number and types of dwellings in the region:

Type of dwelling	Percentage
Number of private dwellings	106,131
Single-detached houses	59.30%
Apartment buildings 5+ stories	13.40%
Apartment buildings with less than 5 stories	1.60%
Duplex	5.72%
Other dwellings	27.30%

Source: Statistics Canada

Save more on your Markham home insurance today!

Getting the most affordable home insurance is only a quote away for Markham homeowners. Compare quotes online anytime with us. A few minutes of your time can add up to big savings. Speak with our broker on the phone to find even more ways to lower your home insurance premiums in Markham.

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2024-12-03

Home Insurance in Markham

Compare Markham home insurance quotes from Canada's top providers and protect your property for a lower rate.

Compare Markham home insurance quotes from top insurers

Markham's best home insurance rates and coverage

About home insurance in Markham