How Does Home Insurance Work In Pickering?
When you get a home insurance quote in Pickering with MyChoice, you’re receiving a comprehensive policy that goes beyond just the basics — including Guaranteed Replacement Cost, which ensures your home will be rebuilt to its original condition even if the cost exceeds your dwelling coverage limit.
Your quote is made up of two main pillars: Base Residence / Dwelling (covering your home, contents, liability, and standard perils) and Enhanced Water Protection (covering floods, sewer backup, and groundwater seepage). Together, they form a complete protection package for your property and belongings.
| Coverage Type | What’s Included? | Average Annual Home Insurance Premium |
|---|---|---|
| Base Residence / Dwelling | – Dwelling Coverage – Outbuildings (detached structures) – Contents – Personal Liability – Voluntary Medical Payments – Voluntary Property Damage – Basic Water Damage | $964 |
| Enhanced Water Protection | – Sewer Backup Endorsement – Ground Water Endorsement – Overland Water Endorsement – Broad Water Damage Endorsement | $192 |
| Coverage Total: | $1,156 |
*A comprehensive home insurance policy protects your property and belongings against all perils except those specifically excluded by the policy. This typically includes: fire and smoke damage, wind and hail damage, lightning strikes, burst pipes (depending on the situation), falling objects (like trees or branches), theft and burglaries, and vandalism.
Base Residence / Dwelling Coverages:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Dwelling Coverage | Covers the cost to rebuild your home after insured damage. | $1,000,000 |
| Outbuildings (detached structures) | Covers the cost to rebuild the detached structures (i.e. garages, sheds, fences). | $150,000 |
| Contents | Protects your belongings from damage or loss due to covered perils. | $750,000 |
| Personal Liability | Legal & medical costs if someone sues you for injury/property damage. | $1,000,000 |
| Voluntary Medical Payments | Pays limited medical expenses if someone is accidentally injured on your property, regardless of fault | $4,500 |
| Voluntary Property Damage | Covers small amounts for accidental damage you cause to someone else’s property (or damage caused by a minor in your care | $1,500 |
| Basic Water Damage | Protects against sudden and accidental internal water damage (e.g., burst pipes or overflowing appliances | $1,000,000 |
*Please note that the average coverage limits in the tables above and below are based on the dwelling coverage of $1 million and can vary by house and carrier.
Enhanced Water Protection:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Sewer Backup Endorsement | Pays for damage caused by sewage or septic systems backing up into the home. | $100,000 |
| Ground Water Endorsement | Adds protection against damage from ground‑water seepage, which is not covered by standard policies. | $250,000 |
| Overland Water Endorsement | Covers damage from freshwater entering your home from rivers, lakes or heavy rainfall. This is typically optional and recommended for homes in flood‑prone areas. | $250,000 |
| Broad Water Damage Endorsement | A catch‑all rider that may combine overland water, sewer‑backup and ground‑water coverage and may also include protection for seepage or ice‑damming (depending on the insurer) | $250,000 |
*MyChoice recommends getting the enhanced water protection package if you live in flood-prone areas in Ontario, as mentioned in our latest study.
Home Insurance Price in Pickering by Dwelling Type
Below is the average home insurance price in Pickering, categorized by dwelling type:
| Type of Dwelling | Average Annual Home Insurance Premium |
|---|---|
| Detached | $1,156 |
| Semi-Detached | $1,064 |
| Freehold Townhouse | $994 |
Postal Codes With the Most Expensive Home Insurance in Pickering
The postal code region L1V tends to have above-average home insurance rates in Pickering.
| Postal Code | Average Annual Home Insurance Premium |
|---|---|
| L1V | $1,187 |
Postal Codes With the Least Expensive Home Insurance in Pickering
The L1W postal code region has some of the cheapest home insurance rates in Pickering.
| Postal Code | Average Annual Home Insurance Premium |
|---|---|
| L1W | $1,132 |
How Pickering Home Insurance Rates Compare to Nearby Cities
Pickering’s home insurance rates are on the lower side in the eastern GTA, close to Scarborough and Oshawa, but well below Toronto and Markham.
| City | Average Annual Home Insurance Premium |
|---|---|
| Pickering | $1,156 |
| Ajax | $1,248 |
| Scarborough | $1,142 |
| Toronto | $1,814 |
| Oshawa | $1,156 |
| Markham | $1,456 |
How Pickering Home Insurance Rates Compare to Provincial Average
Home insurance in Pickering costs around $1,156 annually, lower than the provincial average. 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.
Common Home Insurance Discounts in Pickering
Certain insurers offer home insurance discounts that can significantly reduce your premium — sometimes by up to 20% when combined. Please note that these discounts depend on your property type, condition, the insurer and even external conditions like natural disasters or crime rates in your specific area. Talk to your broker or insurer to learn more about what discounts they offer in your area.
Here’s a look at the most common discounts you can get on home insurance in Pickering:
| Discount Type | Average Percentage Savings | Average Discount Value |
|---|---|---|
| Multi-Line (Home + Auto) | 11.4% | $132 |
| Claims-Free Discount | 16.5% | $191 |
| Alarm System (Burglar) | 7.5% | $87 |
| Alarm System (Fire) | 5.0% | $58 |
| Membership Discount (CAA) | 10.0% | $116 |
| Non-Smoker Discount | 7.5% | $87 |
What Risks Affect Homeowners in Pickering?
Many things can cause home damage. Here are common risks to watch out for as a homeowner in Pickering:
Probability of Significant Disasters in Pickering
On July 8, 2013, storm-related flooding affected Pickering and other Durham communities, leading to flooded basements and traffic shutdowns.
The following MyChoice probability scores for Pickering are based on historical data from the Canadian Disaster Database (CDD), which has tracked major disasters in Canada since 1950. These scores represent the relative likelihood that each type of significant event could occur at least once in Pickering over the next decade. The comparison is made against both other regions in Canada and other types of events, helping illustrate where the greatest risks to homeowners may lie.
According to the CDD, an event is classified as significant if it results in 10 or more deaths, 100 or more people affected (injured, evacuated, or left homeless), an appeal for national or international assistance, historical importance, or severe damage that prevents a community from recovering on its own.
Housing Data in Pickering
In addition to being a short commute away from the Greater Toronto Area, Pickering is known for its excellent small business development support. The city offers resources and networking opportunities for entrepreneurs looking to make their businesses thrive
But, great support for small businesses isn’t the only reason why residents love Pickering – the city offers excellent public education and many family-friendly amenities. Pickering can be an ideal spot to live if you’re looking for a place with the soul of a small town with the benefits of a big city.
Is Pickering a good place to live? Researching the city’s housing data can help you find the answer. Here’s a rundown of key residential information in Pickering from the 2021 Census of Population:
Homeownership Rate by Age in Pickering
Homeownership in Pickering is quite high among individuals aged 25 and older, with particularly strong rates in those aged 40 and up, with roughly 88% of all adults in that age group owning their home in Pickering.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 24.4% |
| 25 to 39 | 74.5% |
| 40 to 54 | 85.5% |
| 55 to 74 | 90.5% |
| 75 and over | 86.5% |
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:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Pickering. 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 Pickering?
Home insurance isn’t legally required in Pickering. 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 Pickering:
How You Can Get Cheap Home Insurance in Pickering
If you’re trying to save money on your preferred home insurance coverage in Pickering, visit our Ontario page for practical tips.