Ontario homeowners insurance coverage – at a glance

At a glance: Home insurance primarily covers your dwelling, its contents, and your personal liability. The vast majority of Canadian homeowners opt for a comprehensive insurance policy—which offers all risk protection on your home and personal property.

  1. What’s protected by homeowners insurance?
  2. Which perils does home insurance protect me against?
  3. What’s not covered by home insurance?
  4. Endorsements: crucial coverage for better protection

What’s protected by homeowners insurance?

Canadian insurers offer seven standard sections (A – G) of home insurance coverage. The table below lists coverage ranges from the majority of insurance companies in Canada for each of these sections. The major differences in coverage between types of home insurance policies comes down to the perils you are protected from. But before we get to what you’re covered against, here’s what’s covered:

Example coverage on $900,000 Ontario home

  • $900,000 real estate value
  • 3000 sqft subdivision
  • Built in 2015
  • Pool in backyard with pool house
CoverageCoverage amountaExample home
1. Property coverages
A) Dwelling buildingb: The foundation, walls, flooring, windows, doors, and roof of your home.
More about dwelling coverage
Replacement Cost: A dollar amount equal to the cost to rebuild your homeInsured for $750 000 which is equal to $250 per square foot rebuild cost
B) Other buildingsb: Structures on your property that aren’t part of the main home, such as the tools shed, detached garage, or pool house.
More about additional buildings
10% – 20% of Coverage A Replacement Cost$75,000-$150,000
C) Contents: Your personal belongings inside your home, such as jewelry, artwork, electronics, furniture, etc.
More about home contents coverage
70% – 80% of Coverage A Replacement Cost$525,000 – $600,000
D) Additional living expenses: To handle the costs of additional living expenses for time away from your home due to an insured loss.
More about additional living expenses
20% – 30% of Coverage A Replacement Cost$150,000 – $225,000
2. Liability coverages
E) Personal liability: Covers injuries or property damage to any third party while they’re on your property.
More about personal liability coverage
$1,000,000 – $5,000,000
F) Voluntary medical payments: Covers the costs should you hurt someone and want to volunteer this medical payment.
More about voluntary medical payments
$1,000 – $10,000
G) Voluntary property damage: Can be used to cover the physical damage you cause anywhere in the world.
More about voluntary property damage
$500 – $6,000
Additional coverage
Fire department service charges: Reimburses fees charged by the fire dept. after visiting your home for an insured peril. Usually no deductible.$1,000 – No limit
Counterfeit cheques forgery: or alteration of a cheque or other document guaranteeing payment.$5,000 – $10,000
Counterfeit money: If you accidentally accept counterfeit paper money. Typically no deductible.$1,000 – $10,000
Credit cards losses: Caused by theft or unauthorized use of credit/automated teller/cash cards or numbers issued to you. Typically no deductible.$1,000 – $25,000
Freezer foods spoilage: …of frozen foods caused by accidental interruption or mechanical breakdown of your freezer.$2,000 – No limit
Lock repair & replacement: Replacement or re-keying of the locks on your dwelling if your keys are stolen. Usually no deductible.$500 – $1,000
Mass evacuation: Increased living expenses due to ordered evacuation from your premises.14 – 30 days,
$2,500 – $10,000
Reward for information: Payment for information that leads to a conviction for arson/theft in connection with insured property loss/damage.$500 – $5,000

a The range of coverage amounts offered amongst our 40+ insurance partners
b Homeowners only

In the unlikely event that you don’t qualify for comprehensive home insurance, e.g., 200+ year old home; 80+ year old electrical wiring; or numerous claims, you’ll still be eligible for broad form coverage, limiting you to named perils on your personal belongings.

Call today to see how our brokers can help.

Which perils does home insurance protect me against?

The perils that home insurance protects you from will depend on the type of policy you have. Most Canadian homeowners opt for a comprehensive insurance policy, because it protects you from all risks on contents (your personal property) as well as the building.

 Fire and extended coveragesBroad form coverageComprehensive coverage
Dwelling buildingNamed perils onlyAll perilsAll perils
Additional buildingsNamed perils onlyAll perilsAll perils
ContentsNamed perils onlyNamed perils onlyAll perils
Additional living expensesAll perilsAll perilsAll perils
Personal liabilityAll perilsAll perilsAll perils
Voluntary medical paymentsAll perilsAll perilsAll perils
Voluntary property damage paymentsAll perilsAll perilsAll perils

What’s not covered by home insurance?

Some risks are considered uninsurable, and they often involve damage considered to be preventable with proper home maintenance. These uninsurable risks, or exclusions are generally not covered by any policy. Examples include:

  • Wear-and-tear
  • Intentional application of heat
  • Animal or insect damage
  • Pollution

Learn more about home insurance exclusions

Endorsements: crucial coverage for better protection

Endorsements are available to extend your home insurance coverage to include certain exclusions or situations not covered by a standard home insurance policy. The most frequently chosen endorsements include:

For more details or a quick, personalized quote on your home insurance, contact one of our brokers. Mitch Insurance Brokers have been helping homeowners find – and understand – the best home insurance policies since 1948. We’ll be happy to find you the coverage you need at the best rate in Ontario.

Call us today at 1.800.731.2228 to speak with one of our brokers!

You are unique, so are your insurance options.

As a brokerage for over 70 of Canada’s top insurance companies, we have access to a wide range of insurance solutions at some of the best rates in Ontario. Want to learn more about the coverage options available to you? Here’s a few of them: