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Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$106.58May 21, 2024, 07:11 AMAuto69FemaleL2R6P9
$46.95May 21, 2024, 10:07 AMHome44FemaleL6Y0E8
$24.71May 21, 2024, 12:42 AMTenant25FemaleK8N3P9

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Article Contents
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated on May 22, 2024

Visit author page
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated May 22, 2024

Visit author page

6 minute read

Article Contents

While home insurance isn’t a legal requirement in Brampton, it’s highly recommended for your peace of mind. Home insurance can protect your home, belongings, and attached buildings like a shed or pool house from unexpected perils. It can even cover your liability in cases of accidents, so it’s a must for Brampton homeowners.

There are three different levels of coverage, as well as standard inclusions, add-ons, and exclusions for home insurance policies. Learn more about how Brampton home insurance works, why you should get it, and what coverage may be best for your needs and budget.

What Risks Affect Homeowners in Brampton?

Brampton homeowners face several risks that may cause damage to their property or even destroy it. Here are some common risks that Brampton homeowners should consider when choosing home insurance coverage:

Exceptionally cold winters

Winter is always something to contend with Brampton, but some years may bring unusually low temperatures that increase the risk of ice damage. Homeowners should be prepared for water damage, as many insurers do not cover damage caused by burst pipes.

Fires

Fire is a risk that every homeowner needs to prepare for. Malfunctioning appliances, faulty wiring, and kitchen mishaps are common causes of fires that can cause devastating damage and loss to Brampton homeowners.

Seismic tremors and earthquakes

Brampton last experienced a major earthquake in 2013 along with other parts of Ontario. While a major quake hasn’t happened since then, Brampton has continued to occasionally experience seismic tremors in the past decade which may cause property damage.

How Much Does Home Insurance in Brampton Usually Cost?

The average cost of home insurance in Brampton is around $978 annually, depending on factors like your proximity to fire hydrants and the neighbourhood crime rate. Home insurance quotes tend to be lower in neighbourhoods like Mount Pleasant and Bramalea, while neighbourhoods like Madoc and Tullamore have higher rates.

Comparing rates between providers is the most effective way to get a quote that’s either within or below the average rate. Get quotes from different trustworthy Brampton insurers through MyChoice to find the most affordable coverage for your budget.

Does Where You Live in Brampton Affect Your Home Insurance?

Yes, where you live in Brampton can affect your home insurance. Home insurance companies take many different factors into consideration when computing your quotes, and one of these major factors is your location in Brampton. Here are some ways that where you live in Brampton may affect your home insurance premiums:

Local claims history

If your neighbourhood has a higher frequency of home insurance claims, this may increase your premiums. This is because home insurance companies consider applicants in these areas to be more likely to file claims as well, increasing the cost of providing coverage.

Flooding

Because of storms or heavy rains during the summer months, Brampton areas near bodies of water or that have been affected by severe weather incidents tend to have higher premiums. The Bramalea City Centre is especially flood-prone because it’s located near the Spring Creek cluster.

Local infrastructure

The quality of nearby roads, access to emergency services, and proximity to fire hydrants all affect your home insurance premiums. Simply put, the more conveniently you can access emergency assistance and the better the road conditions, the lower your quotes will be.

Postal Codes With the Most Expensive Home Insurance in Brampton

L7A and L6X are among of some of the most expensive postal codes in Brampton for home insurance with the average annual premiums near the Ontario average price.

Postal CodeAverage Annual
Home Insurance Premium
L7A$1220
L6X$1132

Postal Codes With the Least Expensive Home Insurance in Brampton

L6R and L6W are one of the most affordable postal codes in the city for home insurance.

Postal CodeAverage Annual
Home Insurance Premium
L6R$983
L6W$920

Housing Data in Brampton

Wondering about housing options in Brampton and the average condition of Brampton homes? Here’s a brief overview of Brampton housing according to the 2021 Census of Population:

Type of Occupied Dwelling

Over half of Brampton’s occupied dwellings are single-detached houses (52.6%). 13.6% of occupied dwellings are semi-detached houses, with row houses placing third at 12.6%.

Owner vs Renter Stats/Condo vs Non-Condo Owners

The majority of Brampton residents own their private residences, with 78.1% of a 25% sample data set listing themselves as homeowners. 21.9% of Bramptonites rent their homes. 89.4% of those surveyed live in occupied dwellings that are not condominiums, compared to a mere 10.6% that live in condominiums in Brampton.

Private Dwellings by Period of Construction: New or Older Homes?

19.3% of Brampton dwellings were constructed between 1961 to 1980. However, over a third of Brampton homes were built in the past two decades, with 11.7% constructed from 2006 to 2010, 11.5% constructed from 2011 to 2015, and 9.5% constructed from 2016 to 2021.

Major Repairs or Just Maintenance Needed?

The majority of Brampton homes are well-maintained with 96.7% of homes requiring only regular maintenance and minor repairs. Major repairs are needed for just 3.37% of occupied Brampton private dwellings.

Homeownership Rate by Age in Brampton

Below are the homeownership rates in Brampton, categorised by different age groups. Brampton seems to attract a lot of young adults (25-39) with the homeownership rate of 65.8% for that age category.

Age GroupHomeownership Rate
15 to 2418.3%
25 to 3965.8%
40 to 5482.6%
55 to 7485.1%
75 and over78.1%

Average Home Price in Brampton by Dwelling Type

The price for a single detached house in Brampton is around $1,160,000, well above of provincial average of $800,000.

Type of DwellingAverage Value
Detached$1,160,000
Semi-Detached$955,000
Freehold Townhouse$900,000

Brampton Population Growth

Brampton has experienced one of the fastest population growth in Ontario of 10.58% from 2016 till 2021.

What Is Not Included in a Typical Home Insurance Policy?

Even if you’ve opted for a highly comprehensive home insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by home insurers.

Here are the most common home insurance exclusions:

Criminal activities:

If your home was damaged due to criminal activity, it won’t be covered by your insurance policy.

Damage from tenants

Generally, home insurance companies require specific coverage for homeowners/landlords who plan to rent out their properties. A standard home insurance policy won’t include coverage if you rent your home out and the tenant causes damage.

Earthquakes

Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Failure to maintain your home

Damage or losses caused by poor home upkeep (e.g., clogged storm drains, broken bannisters) won’t be covered, as your insurer deems it your responsibility to manage wear and tear.

Flood damage

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home business activities

Home businesses will need separate home-based business insurance to cover home or equipment damage.

Insect damage

Because this is considered a preventable risk, most insurers don’t cover insect damage.

Mortgage or property taxes

These are separate expenses handled by policy owners as they’re unrelated to your home insurance policy.

Mould

Mould caused by poor home maintenance is typically excluded by home insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Vacant dwelling risks

Many insurers may void your insurance if you leave your home vacant for a prolonged period.

This is by no means an exclusive list of risks typically excluded from a home insurance policy in Brampton. Talk to your home insurance provider to see what’s covered by your policy in case of loss or damage.

Why Do I Need Home Insurance in Brampton?

Home insurance isn’t mandatory in Brampton, but you may still need it to protect your home, belongings, and liability in situations that would otherwise put you out of pocket. Here are some compelling reasons why you should get Brampton home insurance:

Protection from liability

Accidents happen all the time, and an unfortunate incident may result in damage to your home or an injury to someone on your property. A standard Brampton home insurance policy will help you cover costs related to your liability, such as medical bills, repairs, and even legal expenses if you get sued.

Protection for your home and belongings

Natural disasters and other risks such as fire, flooding, and theft can all damage or destroy your home and possessions. A home insurance policy will help you cover the cost of repairs and restoration in case of unexpected events, giving you peace of mind.

Mortgage conditions

If you’ve taken out a mortgage, your bank or lending institution may have required you to get home insurance. Getting a policy will reassure your lender that your home is protected.

 Why Are Brampton Home Insurance Rates so Expensive?

There are three factors that may be driving up Brampton home insurance rates. Here’s a quick explanation of why these things make premiums higher in Brampton:

  • Greater number of older properties: Most homes in Brampton are quite old, so it’s more likely that they have older systems for heating, plumbing, and electricity. This increases your likelihood of filing a claim for a fire or flood.
  • Higher real estate values: Real estate prices indirectly affect home insurance premiums. As home values go up, so do the cost of rebuilding and the amount of coverage you’ll need from a policy.
  • Housing density: Brampton is densely populated, and most of its homes are connected houses or apartments with very little space between units. This increases the risk of spreading fires between homes.

How You Can Get Cheap Home Insurance in Brampton

If you’re looking for tips on how to save money on home insurance in Brampton, visit our provincial page for concrete advice.

Sources

1. Mychoice.ca Internal Data, Home Insurance Quotes Collected, 2024.

2. Mychoice.ca Internal Data, Most Expensive Postal Codes, Ontario, Brampton, Home Insurance Quotes Collected, 2024.

3. Mychoice.ca Internal Data, Least Expensive Postal Codes, Ontario, Brampton, Home Insurance Quotes Collected, 2024.

4. Statistics Canada, 2021, Census of Population, Ontario, Brampton, Housing Statistics. Data Published March 29, 2023.

5. Statistics Canada, 2021, Census of Population, Ontario, Brampton, Homeownership Rate by Age. Data Published December 16, 2022.

6. CREA, Ontario, Brampton, Median Price of Homes by Dwelling Type, 2024.

7. Statistics Canada, 2001-2021, Census of Population Statistics, Ontario, Brampton, Population Statistics. Data Published December 16, 2022.

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