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Find the best home insurance in Mississauga

Even though it's not legally required, home insurance in Mississauga is highly recommended. You’ve put a lot into your home. So, protecting it with home insurance is extremely important.

Many threats could cause significant damage. Storms and water damage, break-ins, fire, and other claimable events could hurt you financially if you’re not covered.

Don't leave things to chance. Your coverage will protect you financially if damage or an unforeseen event were to occur. Our brokers will help you find the home insurance you need to be confident that your home in Mississauga is protected. We’ll help you quickly search for the best quotes so you save more. Give us a call to get started or compare quotes online.

How Mississauga home insurance works

Ontario home insurance rules and regulations apply to everyone in the province. The FSRAO regulates insurance providers. Most insurers are a member of the Insurance Bureau of Canada (IBC).

Even though it is not mandatory, getting a home insurance policy is recommended if you live in Mississauga. If you have a mortgage, your lender will require proof of coverage as part of the loan application. Even if your home is paid off, it’s vital that you have good coverage to protect your dwelling and personal belongings against common threats.

There are four main home insurance plans Mississauga residents can purchase:

Comprehensive home insurance: You have protection for anything unless it's excluded from your plan. This offers the most protection but also has the highest price tag.
Basic (named perils) home insurance: This is the most affordable option. But, you have less coverage. You have insurance for the perils that are listed in your plan. If something is not listed, it's not covered.
Broad form home insurance: This is the mid-level plan. You have comprehensive coverage for your building and named perils on your content.
No frills: Minimal protection for homes that don’t meet normal standards. This plan doesn’t apply to most homeowners.

Each plan has specific coverages and limitations. You can also add endorsements and specialized products to customize your plan to meet your unique requirements.

For example, if you have expensive jewellery, you can add jewellery insurance to your policy for more coverage.

The rules for homeowners insurance are the same for condo insurance and renters insurance. You can adjust your policy based on your living situation and personal preferences.

How to get home insurance in Mississauga

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Standard home insurance coverage in Mississauga

All home insurance policies provide Mississauga homeowners with coverage in four key areas:

Structure: Your home structure, shed, garage, fence, and other buildings on your property.
Personal belongings: All your possessions that are in your house and on your property. This includes clothing, furniture, electronics, decor, and more.
Liability: Protection if you are sued or someone is injured on your property.
Additional living expenses: Receive compensation for living expenses if you are forced to leave your home during repairs.

Coverage limits will vary based on your plan selection (Comprehensive, Basic or Broad).

Optional Mississauga home insurance

Looking to further personalize your plan? You can also add optional coverage and endorsements (sometimes referred to as riders) to your policy for additional protection. The most popular is:

Sewer backup: There is a lot of old plumbing infrastructure in Mississauga. Make sure you’re covered.
Overland water damage: Flooding is known to happen in the area, especially near Little Etobicoke Creek.
Earthquake and landslide: Earthquakes are a possibility, so be prepared.
Identity theft: Protect your identity. Fraud is on the rise.
Watercraft: Add coverage to your homeowners plan and save with a bundle.
Service line coverage: Construction is the norm. Protect your property just in case a service line is damaged.
Home equipment breakdown: Get additional protection for your house systems and equipment.

5 star home insurance in Mississauga

Rated 4.7 out of 5 stars in 1463 Google reviews

We’ve helped thousands of homeowners find the right home insurance in Mississauga.

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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!

How much does home insurance in Mississauga cost?

Home insurance rates differ based on each Mississauga homeowner's needs. Each property has unique characteristics and factors that affect premiums. The city is known for having higher average home insurance compared to other cities in the province.

Home insurance premiums can range from $900 to $2,300 or more. Based on our customer premium data, the average home insurance cost for Mississauga is $1,571 per year or $131 monthly. This is slightly higher than Toronto home insurance.

What factors affect Mississauga home insurance premiums?

Looking down on a brick house with a boat in the driveway and other homes in neighborhood

There are a lot of things that can affect how much you pay for insurance. These are the top factors that will affect your rate:

Location: This is one of the most important factors affecting your costs. Localized threats affect how your premiums are determined.
Home replacement cost: The more your dwelling costs to replace, the more it will cost to insure.
Plan limits: Higher limits equal a higher price. Lower limits equal a lower price.
Deductible amount: Increasing your deductible can save you a little on premiums.
Renovations and improvements: Home renovation work and upgrades can help you save or increase costs depending on the work being done.
Roof, plumbing, and the electrical type and age: The condition of your home systems will influence rates.
Policy endorsements: Adding insurance endorsements allow you to personalize your policy, but they can also increase costs.
Property use: Using your property for business, renting out a basement apartment, or offering short-term rentals on home sharing sites increases liability. This will increase your premiums.
The crime rate in the area: A higher crime rate increases risk.
The insurance company issuing the policy: Providers have different methods for calculating premiums.

Mississauga home insurance FAQs

Why do Mississauga homeowners need insurance?

A home insurance policy is one of the most important types of coverage you can have if you own a house in Mississauga. For most people, your home is the biggest financial investment you’ll make in your lifetime. An effective policy protects this investment. You never know when an unforeseen event or catastrophic loss could occur.

What is covered by homeowners insurance in Mississauga?

Home insurance provides homeowners in Mississauga with a variety of types of protection. Your plan includes:

Personal belongings such as clothing, furniture, and electronics.
The cost of rebuilding your house if it is damaged.
Living expenses if you must leave your home during a loss.
Personal liability if someone is hurt on your property and files a lawsuit.

There are also things you are not covered for. Using your property for home-sharing, running a business, or leaving your home vacant requires more coverage.

You can add contents insurance and protection from flooding, water damage insurance, and other perils. There are many ways to customize your insurance.

What company has the lowest home insurance in Mississauga?

There is not a single Mississauga home insurance company that has the lowest insurance premiums. Insurers use distinct factors and have unique formulas to set their premiums. So premiums can vary significantly. The most affordable option depends on your needs and the insurer you use to get a quote.

We’ll help you compare quotes from the top providers and ensure you get the right amount of coverage for your home at the cheapest rate. Give us a call to shop around.

What can you do to get cheap home insurance in Mississauga?

Amid rising premiums, there are still many ways to keep your costs in check. Here are simple yet effective ways to get cheaper home insurance in Mississauga :

Shop around for quotes
Review your needs and adjust your policy accordingly
Combine home and car insurance quotes
Improve safety around the house
Pay your fees annually
Raise your deductible
Buy and live in a safe neighbourhood
Be claims-free
Ask about home insurance discounts
Work with our insurance brokers

Speak with our experts today to take advantage of these price reductions.

What threats do Mississauga homeowners need to protect against?

When you own a property, you are inherently exposed to different risks. Here are some of the home insurance items you will have protection against in Mississauga:

Fire and smoke damage - Make sure you have adequate fire insurance
Storm damage – lightning, wind and hail
Theft and vandalism
Water damage
Falling objects
Liability - add umbrella insurance to maximize your protection
And more

About home insurance in Mississauga

Mississauga is in the GTA on Lake Ontario within the Peel Region. The city has more than 800,000 residents and counting, making it the third-largest city in the province.

It’s known for multicultural communities and an expanding business sector. It’s home to Pearson International Airport and the corporate headquarters of top Canadian and international businesses. There is no shortage of places to work and things to do and see. The city has a huge entertainment hub, Square One Mall, and a beautiful waterfront community in Port Credit.

Like other cities in the GTA, it’s made up of a collection of over 20 diverse neighbourhoods. Each one has a unique profile that can affect your premiums. These areas have many different types of housing including detached and semi-detached homes, townhomes, apartments, duplexes, and condos. Whether you live along the lake, close to Highway 401, or near Square One Shopping Centre in Mississauga, we can help you with your home insurance needs.

Your home type changes how much you will pay for insurance. Here is a look at the number and types of private residences in the region:

Type of dwelling	Amount
Number of private dwellings	248,469
Single-detached houses	90,780
Apartment buildings 5+ stories	63,130
Apartment buildings with less than 5 stories	17,630
Duplex	8,120
Other dwellings	26,730

Source: Statistics Canada

Location impacts Mississauga home insurance rates

Your city, neighbourhood, postal code, and proximity to fire halls, rivers, and landmarks can all affect your payments.

At ThinkInsure, we can help you find lower rates in all Mississauga neighbourhoods:

Applewood
Central Erin Mills
Churchill Meadows
Credit Valley
Clarkson/Lorne Park
Cooksville
East Credit
Erin Mills
Erindale
Fairview
Hurontario
Lakeview
Lisgar
Malton
Meadowvale
Meadowvale Village
Mineola
Mississauga Valleys
Port Credit
Rathwood
Sheridan
Streetsville

Save on Mississauga home insurance

Saving on home insurance in Mississauga doesn’t have to be complicated. At ThinkInsure, you can quickly compare quotes online or over the phone from the top insurance companies in Canada. We'll find you the protection you need for the rates. Get a free quote today!

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Insurance Blog And News

Read our insurance blog to get helpful tips, information and news.

2024-12-03

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