Rates can change drastically over small geographic areas. Markham includes many expensive, detached homes which can be costly to rebuild, as well as areas of more densely-packed condos. The type of home can affect rates. Some areas are located within the Don and Rouge watersheds, which can impact coverage for water damage in the home.
Markham is below the Ontario median.
Note that Markham premiums are based on MyChoice’s proprietary data which has been collected since January 2026.
Key Details About Home Insurance in Markham
Replacement-cost coverage, if available, is important to check along with rebuilding costs, particularly if you have a larger or more custom home. Rates in Markham vary across a $420 range. Markham has a median of $1,904 well below the Ontario median, but a low rate should not automatically be assumed to be good value.
| Median Annual Home Insurance Premium | $1,904 |
| Median Monthly Home Insurance Premium | $159 |
| Markham Premium vs. Ontario Median | 15.4% less expensive |
| Lowest-Premium Postal Code Area | L6E ($1,670) |
| Highest-Premium Postal Code Area | L6C ($2,090) |
Markham Home Insurance Premiums by Postal Code
The range runs from $1,670 in L6E to $2,090 in L6C. The exact quote can vary with the watershed, drainage, finished basement and property size; the postal area is only one input.
| Postal Code Area | Median Annual Home Insurance Premium |
|---|---|
| L6E | $1,670 |
| L3R | $1,808 |
| L3S | $1,867 |
| L6B | $1,877 |
| L6G | $1,883 |
| L3P | $2,006 |
| L3T | $2,047 |
| L6C | $2,090 |
How Does House Size Affect Home Insurance Premiums in Markham?
The largest increase occurs in the 2,000-2,499 sq. ft. range, with another step up above 3,000 sq. ft. Markham homeowners with finished basements or custom finishes should ensure their rebuild estimates are detailed enough to reflect the added costs.
| Home Size | Median Annual Home Insurance Premium |
|---|---|
| Under 1,000 sq. ft. | $1,493 |
| 1,000-1,499 sq. ft. | $1,493 |
| 1,500-1,999 sq. ft. | $1,577 |
| 2,000-2,499 sq. ft. | $1,904 |
| 2,500-2,999 sq. ft. | $1,992 |
| 3,000+ sq. ft. | $2,304 |
Home Insurance Rates by the Age of Your House in Markham
Provide the dates when the electrical system was rewired, the plumbing was replaced, and the heating system and roof were updated. The difference between the oldest and newest profiles is $312. A detailed upgrade history is often more informative than the construction year alone.
| Year Constructed | Median Annual Home Insurance Premium |
|---|---|
| Before 1940 | $2,026 |
| 1940–1959 | $1,990 |
| 1960–1979 | $1,940 |
| 1980–1999 | $1,904 |
| 2000–2009 | $1,816 |
| 2010–2019 | $1,765 |
| 2020 or newer | $1,714 |
Markham Home Insurance vs. Nearby Locations
How does your rate compare to the benchmark? Using equivalent dwelling and water terms, compare your rate with the GTA benchmark to see if you may be overpaying. Markham rates are similar to Richmond Hill, Thornhill and Vaughan and less than Scarborough and Toronto.
| City | Median Annual Home Insurance Premium |
|---|---|
| Markham | $1,904 |
| Richmond Hill | $1,832 |
| Thornhill | $1,950 |
| Scarborough | $2,294 |
| Toronto | $2,247 |
| Vaughan | $1,945 |
Read More: When Properties in Markham May Need High-Value Home Insurance
What’s Included in Home Insurance Coverage in Markham?
In the case of the typical house shown above from our Markham dataset, about 90% of the premium goes toward standard coverage and 10% is allocated for additional water coverage.
Markham has expensive homes and continual infill construction which can raise rebuilding costs above normal estimates. Look at guaranteed replacement cost conditions, Bylaw coverage and finished basement limits in built-up areas.
| Coverage Type | What’s Included? | Median Annual Home Insurance Premium |
|---|---|---|
| Base Residence / Dwelling (Core Policy) | Insured risks under a comprehensive policy include the dwelling, detached structures, contents, additional living expenses and personal liability. | $1,710 |
| Enhanced Water Protection (Separately Priced) | – Sewer-backup coverage – overland-water coverage – groundwater coverage – carrier-specific enhanced-water coverage | $194 |
| Coverage Total | MyChoice standard home profile | $1,904 |
*A comprehensive insurance policy generally covers damage to your home and your belongings from covered perils, unless excluded. Perils may include fire, smoke, wind, hail, lightning, certain types of water damage, weight of fallen objects, theft, vandalism, and more. All insurance is subject to policy conditions, exclusions, deductibles and limits.
What Markham Homeowners Should Check
Review the following questions when comparing water coverage in Markham home insurance quotes:
- whether the policy includes sewer backup plus both surface-water and groundwater protection.
- how the total water limit is allocated when several endorsements are bundled.
- the dollar amount the homeowner must pay before water coverage responds.
- which exclusions apply to groundwater, repeated leakage or unrepaired damage.
- whether the property’s location, construction or loss history restricts eligibility.
Clear water endorsements may be particularly crucial for Markham homes susceptible to flooding from surface water.
Do Older Roofs Cost More to Insure in Markham?
Ask about material matching, wind settlement and depreciation on higher-value homes. The oldest roof profile is $265 above the newest.
| Roof Age | Median Annual Home Insurance Premium |
|---|---|
| 0–5 yrs | $1,763 |
| 6–10 yrs | $1,834 |
| 11–20 yrs | $1,904 |
| 21+ yrs | $2,028 |
How Electrical and Plumbing Systems Affect Home Insurance in Markham
For older homes it is helpful to identify any updated systems and obtain documentation. Homes with older or mixed systems should be identified early. Also determine whether an inspection or licensed-trade report is required. Note that the majority of homes in our Markham quote database have copper electrical wiring, breaker panels and copper-based plumbing systems.
| System | What We Saw in Markham Quotes | Why Insurers Ask |
|---|---|---|
| Electrical wiring | The wiring is approximately 99% copper, 1% aluminum, and 0% mixed material. | Homes with aluminum wiring, mixed wiring, or some other older type of wiring may be inspected or insurers may request information about the wiring. |
| Electrical panel | There are about 100% breaker panels. The fuse-panel category has 0% units. | Fuse boxes and other old electrical components can limit insurance options; insurers may require electrical inspections of some older systems. |
| Electrical service | Only 27% possessed 200-amp service, and about 73% had 100-amp service. | The insurer may consider whether or not a utility service is adequate to handle a home and its appliances. |
| Plumbing | Approximately 92% was copper and about 5% was a copper/PVC combination, while PEX, copper/ABS, and PVC represented smaller shares. | The type, condition, and age of the plumbing must be taken into consideration; older systems and systems with a combination of plumbing materials can present an increased risk of leaks. |
Read More: A Practical Insurance-Focused Maintenance Checklist for Markham Homes
What Unique Risks Can Affect Home Insurance in Markham?
If you live in Markham, you may be at risk from the following.
Read More: When Monitored Security May Benefit Homes in Markham
Relative Home Insurance Risk Indicators in Markham
Markham’s flood and snowstorm risk indicators are Medium-High, while its tornado risk indicator is Medium. Its mix of high-value detached homes and expanding condo neighbourhoods means claim responsibilities and rebuilding limits can differ by property type.
Detached home – make sure that you’re looking at basement water coverage, the estimated cost of rebuilding. Condominium – figure out what improvements and assessments are the responsibility of the unit owner; what’s the corporation’s deductible, who’s responsible for insuring your things.
It is important to note that these labels do NOT reflect expected, probable, or predicted claims for a specific property. These labels are a qualitative representation of risk based upon the historical hazard context for each property.
- Flood risk indicator: Medium-High
- Crime risk indicator: Low
- Wildfire risk indicator: Low
- Tornado risk indicator: Medium
- Hurricane risk indicator: Low
- Snowstorm risk indicator: Medium-High
What Additional Home Protection Should I Consider in Markham?
Markham protection-selection percentages are not available. Automatic water shut-off systems may be warranted to limit losses from water damage within a building. Sump and backwater protection may be warranted to limit losses from poor drainage. Choose protection that is appropriate for the specific exposure. Follow the requirements of the insurer.
| Protection | Share of Quotes | Why It May Matter |
|---|---|---|
| Backwater valve | 2% | Helps prevent sewage and wastewater from backing up into the home. |
| Smoke detectors | 73.5% | Provides early notification of smoke or fire, which could allow occupants to have additional reaction time. |
| Deadbolt locks | 48.4% | It can strengthen the weak points of a structure, and may decrease the chance of break-in. |
| Monitored burglar alarm | 8.4% | Provides monitored detection for break-ins and unauthorized entry. |
Read More: Before Adding or Insuring a Basement Suite in Markham
