Home insurance in Sault Ste. Marie varies, depending on the coverage you’re required or choose to have, as well as the area you live in and past home insurance history. The average home insurance costs can range from thousands of dollars annually and are based on location in the city and the neighborhood. It also includes other factors such as home size, replacement value, coverage type, etc..... all these factors can affect the rate, so contact the best insurance broker today to get your home insurance quote today.

No, there’s no fee. Comparing quotes from different insurance providers will help ensure you aren’t overpaying for your home, car, business, travel or other insurance. Compare your online insurance quotes with Surex for FREE.

It will strongly depend on your home’s physical structure, the value of personal property (including clothing, appliances, TV’s). It’s a good idea to take an inventory of your possessions to confirm you have an accurate idea of the value. There are limits that you’ll need to work with so it’s important to check with the top Canadian home insurance companies in Sault Ste. Marie to see what the best insurance coverage is for you. 

Here are the main types of home insurance policies you need to consider for your Sault Ste. Marie dwelling:

Comprehensive: This covers the structure of your home and its contents from all risks, except ones that are considered uninsurable, or where you would need extra (optional) coverage for things such as earthquakes and overland flooding etc…

Basic or Named Perils: This coverage is the opposite of comprehensive and only covers your home and its contents against perils specifically listed in your policy. For example, if the policy doesn't mention fire damage, then a claim filed as a result of fire damage will not be accepted. Check with your advisor for a full list.

Broad: This coverage is a hybrid of comprehensive coverage and basic and is also known as a “broad-form” policy. For your home itself, it is similar to a comprehensive plan, where it covers all perils except those that are uninsurable. For your belongings, it's similar to basic coverage and only covers named risks while unnamed risks are not covered.

No-Frills: This is limited coverage for properties that don’t meet the normal standards of insurance providers. It usually is for homes that have structural defects or other extensive issues.

Of course, you can always add optional coverage (or endorsements) to your policy to cover more risks not normally covered in your home insurance. Some endorsements homeowners in Barrie might consider:

• Overland flooding - this occurs when you have overflowing rivers or lakes as a result of heavy rainfall or melting ice and snow
• Flooding from heavy rainfall
• Sewer backup from extreme weather events, construction accidents, or poor municipal maintenance

Home insurance is a tricky thing to predict, as many factors come to play when calculating the rates. Things such as the age of the structure and the construction of your home, wiring etc...all these items that can be found in and around your home all affect the rate. Plus, the top Canadian home insurance companies underwrite risk differently, so that is why getting to compare quotes is important.

Here are a few things you can do to help reduce the cost of your home insurance:

• Increase your deductible: This is the amount you pay towards an insurance claim, so by offering to pay a higher percentage of a future claim, your insurance company will decrease the cost of your premium. But, keep in mind you will be paying more out-of-pocket when, and if, you ever file a claim.
• Bundle your insurance: Bundling always helps you save, whether it's your phone, tv, and internet! So, if you have a car, or any other insurable item, think about going with one of the top Canadian home insurance companies, who will most likely reward you with a discount!
• Shop around: Always compare insurance companies and home insurance quotes to see what all your options are on similar policies. No two policies are the same, so comparing will let you choose what's right for you.
• Lump-sum payment: providing payment for the entire year instead of monthly payments
• Ramp up your home’s security: Getting a home security system can help, specifically ones that are monitored 24/7 by a security company. (you can inquire if your insurance company is partnered with a specific one for more of a discount). Also, equipping your house with smoke detectors is a good move too (for everyone's sake).
• Purchase new: Sometimes buying a brand new build can result in receiving discounts on your premium. Doesn't hurt to ask!
• Professional membership: Do you belong to a union, an alumnus at a particular university or college, or a CAA member? Some of the top Canadian home insurance companies will offer a discount or group policies to professional members, associations and organizations.
• Claim Free: Obviously being 'claim free' has an advantage.
• Seniors: Beng a senior will qualify you for a certain discount

Home insurance coverage in Sault Ste. Marie depends on the type of insurance you need. Here are a few examples of different types of coverage:

Tenant insurance:  Also known as rental insurance, it typically covers the contents of a unit and liability.

Homeowners insurance (condo): Covers the condo unit and upgrades but not the condo building, as that is covered by the condo corporation, hence condo fees. Your home insurance policy would also cover contents (e.g. theft, damage, etc.) and liability.

Homeowners insurance (house): This is the most comprehensive coverage and includes the entire rebuilding costs for your property, liability, and contents inside the home. You can get additional coverage to protect against a wide range of natural impacts such as earthquakes, flooding, snow damages, etc... and tree and gardens as well as for some additional structures on your property like your shed for extra storage.