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:
Get multiple home insurance quotes in the time it takes to get just one
Answer a few quick questions about yourself and your home.
Compare home insurance coverage and quotes from 30+ insurance companies.
Pick the home insurance policy and company that's right for you.
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:
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.
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.
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.
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.
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:
Got more questions about our Ontario home insurance calculator? See them answered here.
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.
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.
If you want to lower your home insurance premium, here are some of the steps you can take:
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.