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Affordable Home Insurance in Brantford

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Article Contents
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated on November 11, 2024

Visit author page
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated November 11, 2024

Visit author page

5 minute read

✓ Expert Reviewed By Michelle Bragg, Licensed Insurance Broker
Article Contents

If you want to own a home in Brantford, you may want to look into taking out a home insurance policy. Keeping your home safe and protected goes a long way toward peace of mind. Anyone planning to buy a home in this city should consider the benefits that Brantford home insurance provides.

Getting home insurance can help protect your home from natural disasters, theft, and other unfortunate circumstances. Whether it’s a small house in Greenbrier or a mansion in Holmedale, a home insurance policy can prevent you from being caught off-guard when disaster strikes.

Here, learn about the different types of home insurance in Brantford and how to get the best insurance premiums.

Quick Facts About Home Insurance in Brantford

  • Brantford home insurance is MORE expensive than the Ontario average.
  • The average annual cost of home insurance in Brantford is around $1,392.

Quote data from MyChoice.ca, October 2024

What Risks Affect Homeowners in Brantford?

Brantford homeowners should be aware that there are many risks that come with owning a home in the area. Some of these common risks include:

Flooding

Situated in the Grand River watershed, Brantford remains susceptible to flooding, despite ongoing efforts to mitigate the risks. Heavy rainfall or rapid snowmelt can trigger flooding in the Grand River, resulting in significant harm to residences. This includes structural damage, water damage in basements, and the loss of personal belongings.

Theft and burglary

Property crimes are not uncommon in urban areas like Brantford. Having comprehensive home insurance coverage becomes crucial in mitigating losses, particularly if the home lacks robust security systems.

Fire

Homeowners in Brantford, like anywhere else, face the risk of fire. Electrical malfunctions, cooking mishaps, heating system issues, and various other factors can lead to fires. Such incidents can cause substantial damage or even total destruction of a property, making adequate fire insurance coverage imperative.

Sewer backup

During intense rainstorms in Brantford, there is a potential hazard of sewer backup. When the sewer system becomes overwhelmed, it can lead to the leakage of sewage into residential properties through drains and toilets. This can result in extensive property damage, necessitating costly repairs.

How Much Does Home Insurance in Brantford Usually Cost?

Home insurance premiums in Brantford can vary greatly depending on a number of factors related to your home. However, the average insurance rate for most homeowners in Brantford is around $1,392, which is over the average home insurance rate for Ontario.

There are some neighbourhoods in Brantford that are more expensive to live in, so homeowners in areas like Ava Heights-Golfdale, Shellard Lane, Greenbrier, and Braneida Industrial Park can expect to pay more to keep their homes insured.

Quote data from MyChoice.ca, October 2024

Does Where You Live in Brantford Affect Your Home Insurance?

Where you live in Brantford can definitely affect your home insurance. When calculating your home insurance premiums, most insurers will consider factors related to where your house is located. There are a few ways in which your home’s neighbourhood can affect your insurance rates:

Location-specific risks

In Brantford, certain areas may be more susceptible to specific dangers such as earthquakes, flooding, vandalism, and theft. Insurance providers evaluate the likelihood of these perils and may adjust premiums accordingly. If your home is located in a flood-prone zone, you might need additional coverage or face higher insurance costs.

Proximity to emergency services

The distance between your residence and fire stations, police stations, and fire hydrants can impact your insurance rates. Living in close proximity to these services reduces response times during emergencies and may lead to lower premiums as a result.

Crime rates

The crime rate in your Brantford neighbourhood can also play a role in the cost of your home insurance. Areas with higher crime rates, such as Brier Park or Shellard Lane are more prone to theft and vandalism, which makes these areas high-risk zones for insurance companies. Consequently, homeowners in these regions may face higher home insurance premiums. Fortunately, Brantford has a lower-than-average crime rate and is a safer place to live than other urban centers.

Property value

The value of your property is one of the key determining factors in determining your insurance premiums. Certain neighbourhoods in Brantford may have higher property values on average, resulting in increased premiums due to the higher cost of repairing or rebuilding more valuable homes. Areas like Ava Heights-Golfdale and Greenbrier may have elevated rates as homes can often exceed $1 million in value.

Postal Codes With the Most Expensive Home Insurance in Brantford

N3R is the most expensive postal code in Brantford for home insurance.

Postal CodeAverage Annual
Home Insurance Premium
N3R$1,434

Quote data from MyChoice.ca, October 2024

Postal Codes With the Least Expensive Home Insurance in Brantford

People living in the N3V postal code area tend to have the cheapest home insurance rates in the city.

Postal CodeAverage Annual
Home Insurance Premium
N3V$1,253

Quote data from MyChoice.ca, October 2024

Housing Data in Brantford

Below, take a look at housing data in Brantford according to the 2021 Census of Population.

Type of Occupied Dwelling

In Brantford, about 60.2% of homes are single-detached houses, with apartment buildings making up another 21.2%. Row houses are about 9.5% of all dwellings, while semi-detached houses are around 4.7%.

Owner vs Renter Stats/Condo vs Non-Condo Owners

As of 2021, most Brantford residents owned their homes rather than rented them. Homeowners make up 66% of Brantford, while renters were the other 34%.

Private Dwellings by Period of Construction

Brantford has a lot of old homes, with 33.4% of them being built before the year 1960. Homes built in the period between 1961 and 1980 make up 29.5% of the total homes, and homes built between 1981 and 1990 being another 10.4%. Modern homes are fairly rare, with only 4.7% of Brantford homes being built between 2016 and 2021, and 3.9% of homes built between 2011 and 2015.

Major Repairs Or Minor Repairs Needed

Homes in Brantford are generally in good condition, with only a small minority (5.2%) being deemed unsuitable for residence and an even smaller portion (4.2%) needing major repairs. The rest of the homes in Brantford (90.6%) only require regular maintenance or minor repairs.

Homeownership Rate by Age in Brantford

People aged 75 and over have the highest homeownership rate in Brantford while it seems that younger people aren’t as attracted to owning a house in the city.

Age GroupHomeownership Rate
15 to 2424.0%
25 to 3956.8%
40 to 5468.6%
55 to 7470.5%
75 and over72.3%

Average Home Price in Brantford by Dwelling Type

The average price for a single detached house in Brantford is $635,000, way below the provincial average of $800,000.

Type of DwellingAverage Value
Detached$635,000
Semi-Detached$522,500
Freehold Townhouse$625,000

Brantford Population Growth

Brantford’s population increased by 6.21% between the years of 2016 and 2021.

What Is Not Included in a Typical Home Insurance Policy?

Even if you’ve opted for a highly comprehensive home insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by home insurers.

Here are the most common home insurance exclusions:

Criminal activities:

If your home was damaged due to criminal activity, it won’t be covered by your insurance policy.

Damage from tenants

Generally, home insurance companies require specific coverage for homeowners/landlords who plan to rent out their properties. A standard home insurance policy won’t include coverage if you rent your home out and the tenant causes damage.

Earthquakes

Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Failure to maintain your home

Damage or losses caused by poor home upkeep (e.g., clogged storm drains, broken bannisters) won’t be covered, as your insurer deems it your responsibility to manage wear and tear.

Flood damage

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home business activities

Home businesses will need separate home-based business insurance to cover home or equipment damage.

Insect damage

Because this is considered a preventable risk, most insurers don’t cover insect damage.

Mortgage or property taxes

These are separate expenses handled by policy owners as they’re unrelated to your home insurance policy.

Mould

Mould caused by poor home maintenance is typically excluded by home insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Vacant dwelling risks

Many insurers may void your insurance if you leave your home vacant for a prolonged period.

This is by no means an exclusive list of risks typically excluded from a home insurance policy in Brantford. Talk to your home insurance provider to see what’s covered by your policy in case of loss or damage.

Why Do I Need Home Insurance in Brantford?

Unlike mandatory auto insurance, you aren’t required to take out a home insurance policy in Brantford. However, it’s generally a good idea to purchase an insurance policy to protect your home against the following circumstances:

  • In case of damage from natural disasters such as floods, hail, earthquakes, fires, and other environmental forces
  • In case of theft, vandalism, or other malicious acts done to your property
  • In case of an accident or unfortunate event happening on your property where you’re liable
  • Some mortgage companies require home insurance before you can apply for a mortgage

How You Can Get Cheap Home Insurance in Brantford

If you’re looking to save money on home insurance in Brantford, visit our Ontario page for practical tips.

Methodology

Profiles

Average rates were calculated using a standard profile and incident profiles. All personal details pertaining to the quotes and policies have been kept confidential.

Standard Profile

Quoted rates are based on either a 35-year-old male and/or female homeowners with a clean claim history and good credit. They are also non-smokers and live in a home with monitored fire alarms and burglar alarms. The homeowners also have a $1,000 deductible, a $1,000,000 liability and water damage included.

Incident Profiles

We examined how rates change by evaluating profiles. We looked at the most common home insurance claims in Canada: water damage claims, sewer backup claims, breaking/theft claims and property damage claims like wind/hail damage while comparing to a rate with a clean record (standard).

Home Details

Quoted rates are based on either a semi-detached or detached 3 or 4 bedroom home with a valuation around or close to $1,000,000.

Team

MyChoice data science, MyChoice research.

Sources

1. Mychoice.ca Internal Data, Home Insurance Quotes Collected, 2024.

2. Mychoice.ca Internal Data, Most Expensive Postal Codes, Ontario, Brantford, Home Insurance Quotes Collected, 2024.

3. Mychoice.ca Internal Data, Least Expensive Postal Codes, Ontario, Brantford, Home Insurance Quotes Collected, 2024.

4. Statistics Canada, 2021, Census of Population, Ontario, Brantford, Housing Statistics. Data Published March 29, 2023.

5. Statistics Canada, 2021, Census of Population, Ontario, Brantford, Homeownership Rate by Age. Data Published December 16, 2022.

6. CREA, Ontario, Brantford, Median Price of Homes by Dwelling Type, 2024.

7. Statistics Canada, 2001-2021, Census of Population Statistics, Ontario, Brantford, Population Statistics. Data Published December 16, 2022.

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