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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

4 minute read

Article Contents

Home insurance provides financial compensation if certain perils damage your home. This means you don’t need to pay for the repair and replacement costs yourself. In addition to the financial benefit, home insurance provides peace of mind knowing that your home and belongings are protected.

As a homeowner in Huntsville, you want an insurance policy that protects you from common risks like fire, theft, and storms. However, choosing the right policy can be hard because so many insurance companies, coverage options, and other factors complicate decision-making. Learn more about home insurance in Huntsville, from what influences your premiums to the common risks you should be aware of. 

What Risks Affect Huntsville Homeowners?

As a homeowner, you need to be aware of common risks that may damage your home and its belongings. Here are common risks you should prepare for as a Huntsville resident:

Fire

April to October is generally wildland fire season in Ontario, meaning you should be extra vigilant of fires during this period. The Ontario wildfires in mid-2023 greatly affected Huntsville, with the local government declaring a total fire ban in late May.

Flooding

Floods are relatively common in Huntsville, especially in low-lying areas of the town. Flooding in Huntsville often results from various bodies of water in the area overflowing.

How Much Does Home Insurance in Huntsville Usually Cost?

Home insurance cost in Huntsville is around $1,238 annually. Your home insurance rates may vary depending on your insurance company and a host of other factors. Some factors that influence your premiums include your home’s condition, location, and size.

New, well-maintained homes may get more affordable rates because they’re less likely to be damaged in accidental fires or similar perils. Conversely, old, sparsely-maintained homes may get higher rates because there’s a higher risk of damage due to various causes.

Housing Data in Huntsville

Curious about the housing landscape in Huntsville? Here’s a quick overview of the town’s housing landscape from the 2021 Census of Population:

Type of Occupied Dwelling

The vast majority of dwellings in Huntsville are single-detached houses, taking a 79.9% share. Low-rise apartments in buildings under five storeys come in second at 11.5%, with duplexes taking third place with 3.7%.

Owner vs Renter Stats/Condo vs Non-Condo Owners

Out of the 25% sample data taken for this census, 80.4% of Huntsville residents own their homes, with renters making up the remaining 19.5%. 94% of the town’s dwellings are non-condos, with the remaining being condos.

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

Homes in Huntsville are typically older, based on the 25% sample data from the census. Nearly half (45.3%) of the town’s total homes were built in 1980 or earlier, while 29.8% were built between 1981 and 2000. Homes built after 2000 were in the minority, with a 24.8% share.

Major Repairs or Just Maintenance Needed?

Most homes in Huntsville are well-maintained, as shown by the 25% census data. 93.2% of homes only need regular maintenance, while 6.7% need major repairs.

Homeownership Rate by Age in Huntsville

Almost three in four young adults (25-39) own houses in Huntsville which is quite high relative to other cities in Ontario. The highest homeownership rate in the city is among the people aged 55 to 74 at 87.4%.

Age GroupHomeownership Rate
15 to 2419.2%
25 to 3968.8%
40 to 5479.2%
55 to 7487.4%
75 and over81.7%

Huntsville Population Growth

Population in Huntsville grew by 6.66% in 5 years since 2016.

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 Huntsville. 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 Huntsville?

You don’t “need” home insurance in Huntsville because no law requires it. But a home insurance policy is still highly recommended because it protects your home from various hazards. Here are three great reasons to buy a home insurance policy in Huntsville:

Liability protection

Accidents that damage property or injure people on your property can lead to lawsuits or requests for medical compensation. Home insurance has you covered with liability protection, meaning it can pay for legal fees, medical costs, and other expenses that you must pay due to accidents that happen at your house.

Home and belongings protection

Most people get home insurance to protect their home and belongings from various hazards. Home insurance compensates you for any damage to your home or its contents caused by perils covered by your policy.

Mortgage requirements

Mortgage lenders usually require borrowers to purchase home insurance. They do so because they have a stake in your home, and insurance can protect their investments.

How You Can Get Cheap Home Insurance in Huntsville

Visit our provincial page to view the list of recommendations on how to get cheaper home insurance.

Sources

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

2. Statistics Canada, 2021, Census of Population, Ontario, Huntsville, Housing Statistics. Data Published March 29, 2023.

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

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

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