Scarborough Home Insurance

While the crime rate in Scarborough is 3% lower than in the rest of Toronto, properties are still not immune to petty crimes. Homeowners should install robust security systems to protect against vandalism, break-ins, and theft. Neighbourhoods with higher crime rates can result in more expensive insurance premiums.

If you live in a more expensive neighbourhood or suburb in Scarborough, expect insurance rates to be higher. East Scarborough, which comprises Rouge Hill, Highland Creek, and West Rouge, typically have the highest insurance rates.

Do you live near emergency services like fire and police stations? If so, expect your insurance rates to be lower, as your property will be within a lower-risk area.

Most Scarborough homes are apartments in building with more than five stories (41.5%). The next most popular dwellings are single-detached houses (34.2%), followed by apartments in flats or duplexes (9.8%). Approximately 7.1% of properties are row houses.

There is an almost even split between owners and renters in Scarborough. 56.8% of people own their homes, while 43.2% rent them.

Most Scarborough homes were built before 1960 (35.7%), followed by homes built between 1961 and 1980 (32.8%). Only 2.9% of homes were built between 2016 and 2021.

93.2% of homes only require minimal maintenance and minor repairs. By comparison, a small 6.8% of homes require major repairs and replacements.

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

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.

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

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.

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

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

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

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

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.

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