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Orillia Home Insurance

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Recent Quotes From Our Users

Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$84.22Jul 24, 2024, 04:44 PMAuto63FemaleM1J2C8
$43.53Jul 24, 2024, 06:04 PMHome47MaleL7P1Y9
$29.37Jul 24, 2024, 09:54 AMTenant41MaleN8W5N7

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

Updated on May 30, 2024

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

Updated May 30, 2024

Visit author page

5 minute read

Article Contents

Quick Facts About Home Insurance in Orillia

  • Orillia home insurance is LESS expensive than the Ontario average.
  • The average annual cost of home insurance in Orillia is around $962.

What Risks Affect Homeowners in Orillia?

Many things can cause home damage. Here are common risks to watch out for as a homeowner in Orillia:

Crime

While crime levels differ from city to city, there’s always a risk of your home being damaged in criminal acts like vandalism and theft. In fact, Ontario has the highest crime rate in Canada, with a Crime Severity Index of 88.3. 

Flooding

Flooding in Ontario is extremely common because so many things can cause it. Some common flood causes include snow melts, heavy rains, and ice jams. Worse still, flash floods can happen with little to no warning. These frequent, sudden floods make flooding the costliest cause of property damage in the province. As recently as July 2023, heavy rains and subsequent floods have had Orillia’s municipal staff hard at work clearing the way for residents.

Fire

On average, Ontario experiences around 1,000 major forest burns each year. These fires can damage homes and force people to evacuate in extreme cases. Fire departments across the province often issue fire bans that restrict the use of fire pits and other similar items to avoid house fires. With recent fire station closures, Orillia residents may need to be even more vigilant about fire risks.

On-property accidents

Accidents can happen anytime and anywhere, regardless of how safe your home is. People may hold you liable for slips and falls that happened on your property, which is where home insurance comes in. Home insurance policies can cover numerous costs related to a slip and fall lawsuit.

How Much Does Home Insurance in Orillia Usually Cost?

Home insurance in Orillia costs around $962 annually. Home insurance premiums are affected by factors like your home’s age, roofing type, proximity to fire hydrants, and more.

Using your home as a place of business may also influence your home insurance rates. Using your home for business means more people coming in and out of your property, increasing your liability and risk of losing belongings.

Housing Data in Orillia

Orillia isn’t just a great place to visit; it’s also a great place to live in. This lakefront city boasts beautiful views and various recreational activities, so you’ll always have something to do in your free time. Orillia’s cultural diversity means there are folk festivals and events to enjoy.

Naturally, Orillia is well-known for its tourism industry. However, the city also has a strong service industry with various law firms, banks and other service providers, which means career opportunities are plentiful. You can also look for work in nearby cities like Barrie.

Orillia is roughly a 90-minute drive from the Greater Toronto Area, meaning you still have good access to the big city while still enjoying its small-town charm. Home prices in Orillia are also more affordable, on average costing $140,000 under Toronto’s median price.

You can learn a lot about a city’s housing landscape through statistics. Here’s a look at key residential information in Orillia from the 2021 Census of Population:

Type of Occupied Dwelling

A little over half of Orillia’s residents live in single-detached houses, with a 55.7% share of the 14,420 total households surveyed. Meanwhile, low-rise apartments are the second-most popular dwelling type, with a 19.1% share, followed by high-rise apartments at 6.4%.

Owner vs Renter Stats/Condo vs Non-Condo Owners

From the 25% sample data gathered by the census, we can see that 61.2% of Orillia’s households are homeowners, while the remaining 38.8% rent their homes. 1,610 households, or 11.2% of the city’s total residents, live in condominiums, while the remaining 88.8% live in non-condo properties.

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

Most Orillia residents live in old buildings, based on the 25% sample data taken by the census. 31.3% of them live in homes constructed before 1960, while another 26.7% live in homes constructed between 1961 and 1980. Households living in newer homes are relatively rare, with only 19.1% of respondents living in homes built between 2001 and 2021.

Major Repairs or Just Maintenance Needed?

Despite most of the city living in older homes, Orillia’s residential buildings are incredibly well-kept, with only 6.6% of them requiring major repairs. The remaining 93.4% are in good condition and only need minor repairs.

Homeownership Rate by Age in Orillia

The homeownership rates in Orillia are fairly normal for residents aged 25 and older, with the strongest age group being 55 to 74 at 69.3%. On the other side of the coin we have the youngest age group, 15 to 24 coming it a homeownership rate of 21.5%.

Age GroupHomeownership Rate
15 to 2421.5%
25 to 3946%
40 to 5460.6%
55 to 7469.3%
75 and over67.1%

Average Home Price in Orillia by Dwelling Type

Below are the average values of homes in Orillia, categorized by dwelling type:

Type of DwellingAverage Value
Detached$672,000
Semi-Detachedn/a
Freehold Townhouse$613,750

Orillia Population Growth

Orillia’s population increased steadily from 31,166 to 33,411 people between 2016 and 2021. This indicates a growth rate of roughly 7.2% over the course of the five years.

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 Orillia. 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 Orillia?

Home insurance isn’t legally required in Orillia. That said, having a policy is still a good idea. Home insurance protects you from unforeseen events that cause costly damages. Instead of paying to fix it out of pocket, your policy can lighten the financial load. Here’s a quick look at the reasons why you should get home insurance in Orillia:

Liability protection

Accidents happen; when you do, you want to be protected. Unforeseen events can damage your property or get somebody injured on your property. Home insurance policies foot the liability costs of these incidents, meaning you don’t have to shell out as much for legal fees, medical expenses, and other costs you must pay.

Coverage for loss or damage

Your home is at risk of suffering expensive damage or loss due to natural disasters or other perils like theft and vandalism. A home insurance policy can keep you from becoming house-poor if you need to rebuild your home or find a new one. It can even cover the cost of temporary housing as your home is repaired.

Mortgage terms

Lenders and financial institutions like banks may require you to get a home insurance policy as a condition for getting a mortgage loan.

How You Can Get Cheap Home Insurance in Orillia

If you’re trying to save money on your preferred home insurance coverage in Orillia, visit our Ontario page for practical tips.

Methodology

Profiles

Average rates were calculated using a standard profile and incident profiles. All personal details pertaining to the quotes and policies have been kept confidential.

Standard Profile

Quoted rates are based on either a 35-year-old male and/or female homeowners with a clean claim history and good credit. They are also non-smokers and live in a home with monitored fire alarms and burglar alarms. The homeowners also have a $1,000 deductible, a $1,000,000 liability and water damage included.

Incident Profiles

We examined how rates change by evaluating profiles. We looked at the most common home insurance claims in Canada: water damage claims, sewer backup claims, breaking/theft claims and property damage claims like wind/hail damage while comparing to a rate with a clean record (standard).

Home Details

Quoted rates are based on either a semi-detached or detached 3 or 4 bedroom home with a valuation around or close to $1,000,000.

Team

MyChoice data science, MyChoice research.

Sources

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

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

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

4. CREA, Ontario, Orillia, Median Price of Homes by Dwelling Type, 2024.

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

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