Mississauga home insurance
In Ontario, there is no law requiring that homeowners insure their properties. However, if you’re a homeowner in Mississauga and you hold a mortgage, chances are you have home insurance, as it’s typically required by banks and mortgage lenders. Even if you’ve paid off your mortgage, Surex strongly recommends all homeowners purchase a home insurance policy to ensure their property and their belongings are protected against costly damages.
At Surex.com, Mississauga homeowners can find affordable and quality home insurance options in only minutes.
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Homeowners in Mississauga can expect a significant amount of protection with even a basic home insurance policy. Here are some of the coverages that homeowners will enjoy:
Damages caused by weather (including strong winds, severe rain, thunderstorms, hail, earthquakes, and hurricanes)
Vandalism, theft, and break-and-enters
Damages caused by explosions
Damages caused by airplane or vehicle impact
Damages caused by fire and smoke
Damages caused by burst pipes
Damages caused to the structures on your land (e.g. garages, sheds)
Liability coverage against a person getting injured in your house or on your land
Liability coverage against damages you inadvertently cause to another person’s property
Costs associated with temporary housing (i.e. hotel, rental apartment) while your insured property is repaired or replaced
Mississauga homeowners can face steep premiums for home insurance. The good news is there are many ways they can lower their costs. Here are some common ways to find a lower rate:
Bundle your policies. If you have multiple insurance policies (i.e. auto and home), one of the easiest ways to lower your premium is by bundling them with the same provider. Bundling not only helps stream your finances, it can save you up to 15% on auto insurance and up to 10% on home insurance.
Shop around. Never accept the first rate you’re offered. By comparing options on Surex.com, you can view offers from up to 10 leading insurers in just minutes. After finding a low rate, speak with a Dedicated Insurance Assistant about what premium discounts you qualify for.
Think safety. By installing safety features like fire alarms, carbon monoxide detectors, deadbolt locks, and a home security system, you may qualify for a discount to your home insurance premium.
Deductible. By raising the amount you have to pay if you file a claim — i.e. your deductible — you can lower your home insurance premium. But make sure you’re in a position to afford the larger payout should you ever need to make a claim.
At Surex.com, we help you compare offers from up to 10 of Canada’s top home insurance companies. Once you find a free home insurance quote that you’re happy with, we connect you with a Dedicated Insurance Assistant who will answer any questions you may have, collect additional property details, walk you through coverage and payment options, explains the claims process, help you find applicable discounts, and ensure you secure a policy that fits your property needs and budget considerations.
- Kariya Park
- Lake Aquitaine
- Erindale Park
- Square One Shopping Centre
- Erin Mills Town Centre
- Dixie Outlet Mall
- Marilyn Monroe buildings
- Celebration Square & City Hall
- Port Credit Lighthouse
Have questions? We've got answers.
Technically Mississauga homeowners aren’t required to have home insurance. However, if they still owe money on their mortgage, it’s very likely that their lender requires them to protect their home and its contents. Therefore, home insurance is usually a requirement, and even when it’s not, we strongly encourage all Mississauga homeowners to purchase protection for their biggest investment.
In Ontario, if you don’t hold a mortgage, there’s no requirement to hold a home insurance policy. However, when you consider the value of you home and your belongings, plus the peace of mind of liability protection, purchasing home insurance starts to make a lot of sense. At Surex, we strongly encourage all homeowners to invest in an insurance policy to protect their homes, their belongings, and themselves.
Most home insurance providers will give policyholders the option to pay their premium all at once (annually) or in twelve installments (monthly). If you pay once annually, there’s a chance you’ll save money by avoiding the service fees that most providers charge for processing monthly payments.
Because some many of the factors that influence home insurance vary from person to person (and property to property), it’s hard to pinpoint a good price for home insurance. However, most Ontario homeowners can expect to pay somewhere between $800 and $1,200 for an annual policy.
The insurance company that offers you the best rate may not offer your neighbour the best rate. This is because so many of the determining factors differ for each homeowner (and for each home). Some of the leading home insurance providers in Ontario include Aviva, Economical, Gore Mutual Intact, Pembridge, SGI Canada, Wawanesa, and Travelers.