Ontario Home Insurance Premium Calculator
Calculate your Ontario home insurance estimates from 50+ insurance companies in one go.
What is a home insurance calculator?
A home insurance calculator – accessed from just about anywhere on InsuranceHotline.com – is an online tool that lets you view home insurance rates from more than 50 top providers in Ontario.
To access our Ontario home insurance calculator, just pick your insurance type at the top of the page – either homeowner, condo or tenant – and enter your postal code. After that, you’ll be directed to the calculator. All you need to do from there is type in or select a few details about yourself and your property and then access your very own customized quotes.
If you’re wondering why you’d want to use InsuranceHotline.com’s Ontario home insurance calculator, here are a few reasons to consider:
- It takes very little time. You can access free quotes through our Ontario home insurance calculator in less than three minutes. If you don't believe us,try our home insurance calculator for yourself.
- The rate you get are real. When using our Ontario home insurance calculator, you gain access to quotes from over 50 leading insurers in the province. These are not just estimates either – these are actual quotes, from real insurers, whom you can contact right away, if you so choose.
- Get the cheapest rates available. Our Ontario home insurance calculator lets you compare rates instantly, in one place, making it easy to pinpoint a good deal. What’s even better is that our insurance partners all compete to offer you the cheapest rate available.
- Do it anywhere, anytime. You can use our Ontario home insurance calculator from any computing device – from your desktop to your smartphone or tablet – and you can do so at any time, even in the middle of the night.
- It’s free. It costs nothing to use the calculator. We also don’t ask you for any payment information. So, if you don’t like the quotes on offer, you’re free to close the browser and walk away – no strings attached.
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How to get the cheapest Ontario home insurance quote
Get multiple home insurance quotes in the time it takes to get just one
1. Enter Postal Code
Start with your postal code!
2. Enter Your Information
Answer a few quick questions about yourself and your home.
3. Compare Your Quotes
Compare home insurance coverage and quotes from 30+ insurance companies.
The Ontario home insurance calculator is literally a click away from this very page. If you can read this sentence, then you can access the calculator.
With that in mind, here are the exact steps you need to take:
1. Provide your address
Select whether you’re looking to insure a home, condo or a rental property and enter its address. Our system will offer to autocomplete the field once you type in the first few characters.
2. Tell us about yourself and your property
Tell us your first name, date of birth of the eldest applicant, who occupies the residence, when you moved into it and when you would like your policy to start.
3. Tell us about your past and current insurance policies
If you have a home insurance policy right now, you can specify how long you’ve had insurance, how long you’ve been with your current provider, the number of claims in the last five years and the number of cancellations due to non-payment.
For past home insurance policies, you only need to specify the number of claims in the last five years and the number of cancellations due to non-payment.
4. Choose your discounts
If you’d like to get discounts on your home insurance policy, take the time to answer a few questions about your property, occupants and insurance preferences. This includes letting us know if you’re open to bundling your home insurance with other policies, such as your car insurance.
5. Get your rates
Give us your email address and get your free home insurance quotes from more that 50 insurers in our partner network.
Your home insurance premiums are based largely on your individual factors and circumstances. This means that even though we aim to provide the cheapest rates available, certain things are beyond our control. Here are some of them:
Home-related factors:
- Overall condition: The older the home, the more likely it is to be in a subpar condition, especially by insurance standards. Homes built prior to the 1950s, for instance, have outdated plumbing and electrical wiring, which have a high likelihood of causing flooding or fire. Old roofs and fuel oil tanks can also be a huge risk, especially if they are over 20 years old.
- Rebuilding costs: How much your home costs to rebuild from gound up will influence your insurance premiums. Square footage, number of floors, overall structure as well as material and labour costs all play a role in determining this cost.
- Renovations: Certain home renovations can raise the value of your home. This applies only if your insurer already knows about the renovations. That said, it’s worth notifying them if you want your payout to be higher in the event of damage or loss.
- Location: The location of your home can play a significant role in your premiums being high or low. If an area has huge amounts of crime, flooding, earthquakes and/or other perils, then your rates will also be high. While Ontario doesn’t have the most expensive home insurance premiums in Canada, they have gone up due to increases in risk factors like crime, extreme weather and wildfires.
- Security: Putting security measures, such as burglar alarms and other anti-theft systems, can help lower your insurance, especially if you live in a high-crime neighbourhood. That’s because good security systems can prevent break-ins and thefts from occurring in the first place.
- Proximity to fire halls and hydrants: Having a home that’s close to fire halls and hydrants means lower likelihood of total loss in the event of fire. This is mostly a problem for rural homes, as they tend to be more secluded than urban homes.
Homeowner-related factors:
- Claims history: Filing more claims leads to higher insurance premiums. Consider reducing the number of risk factors threatening your home (some of which we already mentioned above) and avoid filing a claim when you can address the issue yourself. For instance, a minor pipe leak is probably not a big enough issue to warrant contacting your insurer. Insurance is for major events only. Not for maintenance.
- Credit score: If your credit score is in good order, you can get your insurer to perform a check, without impacting the score itself. People with high credit scores are statistically less likely to file claims, which means they get cheaper premiums. Note that doing a credit score check won’t result in a premium increase, since insurers are not allowed to do that in Ontario.
- Mortgage: Paying off a solid portion of your mortgage can get you an insurance premium discount of 10% to 20%.
Frequently asked questions about calculating your Ontario home insurance
Got more questions about our Ontario home insurance calculator? See them answered here.
How much is the average home insurance in Ontario?
According to the 2022 RATESDOTCA Home Insuramap data, the average annual home insurance premium in Ontario is $1,487. Given that Ontario as a whole is relatively safe from major natural disasters, its homes aren’t as endangered here as in some other provinces, such Alberta or British Columbia.
That said, the climate is changing, and this means more extreme weather events for Ontario. In 2023 alone, Ontario has seen multiple floods, tornadoes, wildfires and storms. Crime and theft have also been on the rise due to a multitude of factors. In combination, all these factors had led to higher premiums in 2023 and will continue to do so for the foreseeable future.
Where can I calculate my home insurance?
You can calculate your home insurance here on InsuranceHotline.com via our Ontario home insurance calculator. All you need to do is enter a few details about yourself and your property – whether it’s a home, condo and a rental unit – and you’ll see results immediately.
Do note that since each home insurance provider has their own way of calculating rates, there is no definitive method for determining your specific insurance premium without going through an insurance agency, brokerage or quote comparison site like ours. Any numbers outside of that, including those from sources such as the RATESDOTCA Insuramap are estimates, not actual prices.
How can I lower my home insurance premium?
If you want to lower your home insurance premium, here are some of the steps you can take:
- Increase your deductible. A higher deductible will result in lower premiums. On the flipside, it would also force you to pay more out of pocket in the event of damage or total loss. So, have some money saved up just for such an occasion.
- Improve your home. If your home has outdated plumbing, electrical system or structural issues consider updating them to both improve your home’s safety and lower your premiums. The fewer risks there are, the less you have to pay.
- Secure your home. Burglar alarms and other anti-theft measures can prevent break-ins and theft, while smoke detectors and similar alarms can protect your home from fire. In both cases, you can get an insurance discount.
- Reinforce your home. To reduce the damage to your home from rainwater, snow and other weather-related factors, add safeguards like sump pumps, strengthen your basement walls and repair your roof – especially if it’s over 20 years old.
- Bundle multiple policies. If you have a vehicle, bundle your auto insurance with your home insurance under one insurer. In most cases, this will get you a discount.
- Ask about discounts. Talk to your insurer about other discounts you might’ve not thought of. For instance, as a long-time customer, you may secure a loyalty discount.
- Pay annually. Due to the administrative costs associated with processing monthly payments, insurers charge more for them. If you choose to pay annually, you’ll pay less. It’s worth saving up for one annual payment (if you can) versus spending more each month.
- Don’t over-insure your home. Don’t purchase more coverage than you actually need. While purchasing extra protection for your jewellery may seem like a good idea, it’s entirely possible that what own is already covered by your basic policy.
- Compare quotes. Whether you go with a quote comparison website like InsuranceHotline.com or your regular brokerage, do yourself a favour and compare quotes from as many insurers as you can. With InsuranceHotline.com, you can compare quotes from more than 50 top insurers in Ontario – in three minutes or less (and for free).
What is a home insurance deductible and how can I choose one?
A home insurance deductible is the amount money you’re willing to pay upfront when filing a claim, allowing you to share the risk with your provider. For example, if your home suffers $6,000 worth of damages, and your deductible is $1,000, then your insurer will cover you for $5,000. The rest will come out of your pocket.
Thus, the higher the deductible, the lower the premiums. And on the flipside, the higher the deductible, the more you have to pay when filing a claim.
The amount you set for your deductible will depend on how much risk you’re willing to take on and how much you’d like to pay in premiums. If you’re short on savings and don’t foresee an improvement in the near future, then a high deductible could prove disastrous. If you do have savings, then it’s an opportunity to save even more.
Since insurance premiums are based on your specific circumstances, you should consult with your insurance agent or broker to determine what deductible amount is right for you.
