Best Home Insurance Brokerage in Ontario
Home insurance brokers in Ontario play a vital role in helping homeowners find the right insurance coverage to protect their valuable investments. The experienced professionals at Roughley’s understand that your home is your most valuable asset and have the expertise to ensure you get the best coverage at the right price.
As an insurance brokerage, it is our job to get the best coverage in place for you and your family. Our highly trained staff will work closely with you to develop an easy-to-understand, personalized insurance package that protects everything that means most to you.
Protecting your property and your peace of mind… that’s the Roughley Advantage.
Need a Quote?
We’ll find you the right coverage at the right price. In order to get the most accurate quote, one of our team members will be in touch with you directly.
One of the key benefits of partnering with a Roughley home insurance broker in Ontario is the personalized service we provide. Roughley brokers are dedicated to understanding each homeowner’s unique needs and circumstances. This allows us to recommend tailored insurance solutions that offer optimal protection.
We have access to all the major insurance carriers and then some, enabling us to compare policies and find the one that best fits the homeowner’s requirements.
When considering home insurance, Ontario residents can rely on our experienced brokers to guide them through the sometimes complex process of acquiring coverage. Our professionals will assess a homeowner’s needs, consider potential risks, and ensure that they are well-informed about the options available to them.
Engaging the expertise of a Roughley insurance broker can lead to the peace of mind that comes from knowing your home is properly protected against potential damages and liabilities.
Home Insurance Products
Homeowners Insurance
For many of us, buying a home is the biggest investment we will ever make. It is important to protect that investment. Having the proper coverage ensures that you and your family will be protected from losses such as;
- Fire, smoke
- Lightning
- Windstorm, hail
- Burglary or theft
- Water damage
- … and much more
Condo Insurance
Condo insurance is a little different from homeowners insurance. The Unit owner does not need to cover the entire dwelling, only the interior and contents such as furniture, clothing and electronics.
Condominium unit owners share in the responsibility of protecting the common elements. Common elements are areas that are shared by all unit owners, such as hallways, lobbies, pools, parking garages, elevators, etc. Loss assessment coverage is included in many condominium insurance packages, and provides protection if you were to be assessed responsibility for a portion of a loss that may involve a common element.
In cases where condominium unit owners have chosen to renovate or upgrade certain fixed portions of their unit, such as flooring and cabinetry, these upgrades need to be insured. Coverage for betterments and improvements are included in most condominium insurance packages.
Cottage Insurance
(Seasonal/ Secondary Dwelling)
Insurance coverages and rates for seasonal and secondary homes are slightly different than principal dwellings, for many reasons.
Occupancy is a heavily weighted factor in determining insurance rates on homes. Typically, rates of insurance for seasonal and/or secondary homes are higher due to the fact that there are usually brief periods of unoccupancy. In most cases, your insurance company may require that you visit or have your secondary/seasonal dwelling inspected at least once every 30-60 days.
Whether it is a home that you already own or one that you are considering buying, call Roughley today to discuss the details of your secondary or seasonal home. We would love to offer you a complimentary, no-obligation quote so that you can be sure that your investment is safe even when you are not around.
Tenant Insurance
As a tenant, you may not own the building you live in, but you are responsible for all of the things you brought into it. What would you do if your apartment building suffered a major fire? Are you prepared to start over? Could you start over? Even the most modest collection of clothes and furnishings are costly if you had to replace them with new ones.
Tenant Insurance Policies can provide coverage for losses such as:
- Fire and smoke damage
- Theft or vandalism
- Damage caused by a windstorm or hail
- Legal liability insurance to protect you and your family should you cause bodily injury or property damage to someone else, including damage to the dwelling you reside in.
- And much more…
Tenant insurance is highly affordable and strongly recommended for every renter. It is also recommended that Landlords insist that their tenants invest in tenant insurance. It is important that you have a well-documented list of exactly what you own, and that you protect those belongings with an appropriate level of tenant insurance (click here to download a contents inventory insurance template). When, or if, you ever have to make a claim, having a detailed list of your possessions will make it significantly easier to have your claim handled quickly and fairly.
How Home Insurance in Ontario Works
Home insurance brokers in Ontario play a crucial role in helping homeowners find the right coverage for their specific needs. With a wealth of knowledge and experience, our brokers work diligently to ensure that our clients receive exceptional customer service and the proper insurance policy that suits their unique requirements.
In Ontario, home insurance policies generally cover the following:
- Dwelling coverage: Protects the structure of the home (e.g., walls, roof, floors, foundation)
- Personal property: Covers personal belongings (e.g., furniture, electronics, clothing)
- Additional living expenses: Provides financial support if the home becomes temporarily uninhabitable
- Liability insurance: Protects the homeowner if someone gets injured on their property or if they cause damage to another person’s property
It’s essential to keep in mind that not all home insurance policies are created equal, and certain perils or risks might be excluded. Roughley Insurance Brokers help their clients navigate this by presenting a variety of options, ensuring that their policy includes the necessary coverage.
Our Home insurance brokers in Ontario provide the following services:
- Assessing clients’ individual needs and recommending suitable coverage
- Comparing quotes from multiple insurance providers
- Explaining the details and exclusions of each policy
- Assisting with the claims process and providing ongoing support
Benefits of Using Roughley as Your Home Insurance Broker
- Accessibility: Brokers have access to a wide variety of insurance providers and can present multiple options to their clients.
- Personalized service: Brokers take the time to understand their client’s specific needs, ensuring they receive the right coverage.
- Expertise: Home insurance brokers have extensive knowledge of the insurance market and can help navigate complex policies.
- Savings: Brokers can often find competitive rates and discounts.
How Brokers Enhance Customer Service
In addition to helping clients find the best insurance products, home insurance brokers are also committed to providing exceptional customer service. They offer:
- Ongoing support: Brokers remain available after policies are issued, assisting clients with policy changes, claims, or general inquiries.
- Advocacy: In the event of a dispute or claim, brokers act as the client’s advocate, ensuring their interests are protected.
- Tailored advice: Home insurance brokers offer personalized guidance, helping clients make informed decisions about their coverage.
Types of Coverage and Benefits
Standard vs Comprehensive Home Insurance
When exploring home insurance options in Ontario, it is important to understand the difference between standard and comprehensive policies.
Standard home insurance primarily covers the dwelling, its contents, and personal liability. It provides protection against common perils such as fire, theft, and vandalism. However, standard policies may have certain exclusions, such as damage caused by natural disasters.
On the other hand, comprehensive home insurance offers a higher level of protection. This type of policy covers all risks, except for any specifically listed exclusions.
In addition to the coverage provided by standard policies, comprehensive coverage may include protection from natural disasters, equipment breakdown, and sewer back-up. It is recommended for homeowners who seek the most complete protection for their property and belongings.
Broad Policy
Broad policy home insurance in Ontario provides a comprehensive level of coverage for homeowners. This type of policy typically combines the features of both basic and comprehensive policies, offering a middle ground in terms of protection. Broad policies often cover the physical structure of the home against a wide range of perils, such as fire, theft, vandalism, and certain natural disasters.
Additionally, they provide coverage for personal belongings and may include liability protection. Homeowners opting for a broad policy appreciate the balance it strikes between affordability and comprehensive coverage, making it a popular choice for those seeking robust protection for their homes in Ontario.
No-frill Home Insurance
No-Frills home insurance in Ontario is a basic coverage option designed for budget-conscious homeowners. This type of policy offers essential protection for the structure of the home and may include limited coverage for personal belongings.
No-Frills policies often exclude certain optional coverages, such as additional living expenses or high-value items, to keep premiums more affordable. While providing fundamental protection against common perils, homeowners may need to accept higher deductibles and lower coverage limits with this type of policy. It’s a straightforward option for those seeking cost-effective home insurance without additional bells and whistles.
Coverage Options Available
Liability Coverage
Liability coverage is an essential aspect of home insurance policies. It protects homeowners against legal liabilities if someone is injured on their property or if they accidentally cause damage to others’ property.
For instance, if a visitor slips on your icy driveway and suffers an injury, your liability coverage would cover the legal and medical expenses incurred.
Most home insurance policies in Ontario offer a minimum of $1 million in liability coverage, but some homeowners may choose to increase this limit for added protection.
It is important to ensure that your liability coverage is sufficient to protect your assets and financial well-being in case of any potential claims.
Property Insurance
Property insurance is a broad term encompassing various policies designed to protect real estate and its contents. This coverage typically includes protection for the physical structure of a property against perils such as fire, theft, vandalism, and certain natural disasters. Property insurance may also extend to personal belongings within the premises.
It is a crucial financial safeguard for homeowners, landlords, and tenants, offering financial reimbursement in the event of covered losses. The scope of property insurance can vary, and individuals may choose specific policies like home insurance, renters insurance, or landlord insurance based on their needs and circumstances.
Contents and Personal Property Insurance
Another key component of home insurance policies is contents and personal property insurance. This coverage protects your personal belongings, such as furniture, electronics, clothing, and other items.
In the event of damage or theft, contents insurance helps cover the cost of repairing or replacing these items up to a specified limit.
Here are the most common coverage types for contents and personal property:
- Actual Cash Value: This coverage considers the item’s current market value, taking depreciation into account.
- Replacement Cost: This coverage reimburses the policyholder for the cost of replacing the damaged or stolen items with new ones, without considering depreciation.
Homeowners should carefully review and update their contents insurance to reflect the value of their belongings accurately. Additionally, they should keep an inventory of their possessions to help simplify the claims process in case of an incident.
Financial Considerations and Discounts
Insurance Premiums
Insurance premiums are the amount you pay to your insurer to secure coverage for your home. Several factors can influence the cost of your premiums, such as the location, age, and construction of your property, as well as your claims history.
Mortgage lenders usually require home insurance coverage to protect their investment in the event of unforeseen incidents, such as fire or natural disasters.
It’s essential to understand that a higher premium doesn’t always guarantee better coverage. It’s vital to review your policy thoroughly, ensuring you have adequate coverage for your property and belongings.
Discounts and Savings Opportunities
There exists a variety of discounts and savings opportunities that can help you reduce your home insurance premiums. Some of these opportunities include:
- Claims-Free Discounts: Being claims-free for a certain period can make you eligible for discounts from your insurer.
- Multi-policy Discounts: By bundling your home and auto insurance with the same company, you become eligible for a discount.
- Higher Deductibles: Choosing a higher deductible can lead to lower premiums, as you assume more of the financial risk.
Additionally, you can potentially save on your premiums by working with a Roughley insurance broker who can help you navigate available discounts.
They can assess your current policy coverage and advise you on potential savings, ensuring you obtain suitable coverage without overpaying.
By asking the right questions and doing thorough research, you can identify opportunities for discounts and savings on your home insurance and make better financial decisions regarding your coverage.
Additional Coverage Options and Endorsements
Specialized Options for Unique Needs
In addition to the standard home insurance coverage, various additional coverage options cater to unique requirements. Some of these specific coverages include:
- Sewer Backup Insurance: This covers any damage caused by sewer backup or water entering the home through drains or sump pumps.
- Equipment Breakdown: This offers protection from sudden and accidental breakdown of equipment in your home, such as HVAC systems, electrical appliances, and other essential devices.
- Home Sharing: If you rent out your property via services like Airbnb, you should consider this coverage to protect against possible damages caused by tenants.
- Vacant Home: This option provides coverage for your home if it is left unoccupied for an extended period, such as during renovations or while you’re away on vacation.
Endorsements for Enhanced Protection
In addition to specialized coverage options, there are also endorsements available to enhance your home insurance policy. These can be tailored to your specific needs, ensuring that your policy covers all the essential aspects of your property and personal belongings. Some common endorsements include
- Increased coverage for high-value items: If you own valuable items such as jewelry, artwork, or collectibles, you can add an endorsement to increase coverage for these items.
- Identity theft coverage: An endorsement that financially protects you in case of identity theft, helping to cover the costs of repairing your credit and recovering your good name.
- Personal liability coverage: This endorsement can provide extra protection against legal expenses and financial losses if someone is injured on your property or you unintentionally damage someone else’s property.
Frequently Asked Questions
How can I save on my home insurance premiums?
To save on home insurance premiums, you can consider increasing your deductible, bundling your home and auto insurance, installing safety devices, and maintaining a good credit score. Also, regularly review your policy and make necessary updates to ensure it reflects your changing needs.
What is the difference between replacement cost and actual cash value coverage?
Replacement cost coverage reimburses you for the full cost of repairing or replacing your home and personal property without depreciation. On the other hand, actual cash value coverage factors in depreciation, paying you the current market value for your belongings at the time of the loss.
What strategies can help me find the cheapest home insurance rates in Ontario?
To find the cheapest home insurance rates in Ontario, consider comparing quotes from multiple insurance providers by working with one of our brokers who can identify the best options for your needs, and opt for coverage that suits your specific situation. Also, take advantage of any discounts or incentives available.
What are the benefits of using an insurance broker over going directly to an insurance company for home insurance?
Using an insurance broker for home insurance offers several benefits, including access to a wide range of options, personalized service, and expert advice. Insurance brokers can help you navigate the complexities of home insurance policies and find the coverage that best suits your needs.
What is the average cost of home insurance in Ontario?
The average cost of home insurance in Ontario varies depending on factors such as location, type of home, and optional coverages. Homeowners insurance premiums can range between $800 and $2,500 a year. Consult with one of our team members for a more accurate estimate based on your specific circumstances.
How do insurance brokers in Ontario determine the best home insurance policy for my needs?
Insurance brokers in Ontario determine the best home insurance policy for your needs by evaluating various factors. These include the location and value of your home, your personal belongings, your desired coverage, and your budget.
They work with multiple insurers to provide you with a selection of options that fit your requirements.
Other Insurances
Travel Insurance
Working with Option One Travel, Roughley Insurance Brokers Ltd. is proud to offer our clients access to some of the best travel insurance products offered in Canada.
Auto Insurance
Whether you are insuring the family car, the ‘team’ minivan, your ‘hauling on the weekends’ truck, Trailer or R/V, or your ‘gift-to-myself antique car or motorcycle, we can offer insurance coverage that fits.
Business Insurance
Businesses come in all shapes and sizes, and so does business insurance. No matter what industry you are in, and no matter the size of your employee pool (even if the only employee is YOU), our Business Insurance Advisors can put together coverage that protects your business operations, your property and assets, and your peace of mind.
Our Customers
I have been with Roughley Insurance since I got my driver’s license. I am 67 and my wife is 65 years old – that is a long time to be with an insurance brokerage! We worked with Mr. Harold Roughley for years and now we work with Grant Musselman. He has always been very good to us and very approachable when we need him. Thank you to the whole Roughley team. – Jim & Christine
I’ve been dealing with Shane Terry for just over 10 years now. I always receive prompt and friendly service. I would recommend him to anyone who has insurance needs. Thanks, Shane! – Don
I have always appreciated the hard-working, personable demeanour of all the Advisors at Roughley. My Advisor, Shane Terry, has always been professional, dedicated and knowledgeable when I have reached out to him as one of his long-time clients. – Krista
Get In Touch
Roughley’s team of insurance professionals is standing by to answer your call. If you have questions about your insurance, we invite you to call us and speak to one of our team members.