By taking out a home insurance policy in Burlington, you can protect your home from unforeseen circumstances like natural disasters, theft, and liability from accidents.
While it’s not a requirement for owning a house, many mortgage companies require you to have an active home insurance policy before you’re eligible for a mortgage. If you’re planning on buying a house in Burlington, consider the benefits that home insurance can provide you.
Here, learn about the different types of home insurance in Burlington and how to get the best insurance premiums.
Quote data from MyChoice.ca, January 2025
What Risks Affect Homeowners in Burlington?
According to the Burlington government’s hazards and risk assessment, there are some natural and technological risks to owning a home in Burlington, Ontario:
Severe Event Probability in Barrie
On July 8, 2013, the massive rainstorm that drenched Toronto also flooded parts of Burlington, leading to submerged roads and overwhelmed creeks.
Below are the MyChoice severe event probability scores for Burlington, based on the historical data from the Canadian Disaster Database collected since 1950. The percentages reflect the likelihood of a major event in question occurring at least once in the region in the next decade – relative to other regions and events.
How Much Does Home Insurance in Burlington Usually Cost?
Home insurance in Burlington usually costs around $964 per year on average. This rate is lower than the average for the province of Ontario. However, depending on some factors related to your home, you may expect to pay lower or higher than the average rate for the city of Burlington.
One of the most significant factors for determining your yearly home insurance premium is the location of your home. If you live in certain parts of Burlington, such as Appleby, Brant Hills, and Elizabeth Gardens, you can expect to get lower insurance premium rates. However, if you live in more expensive neighborhoods, such as Aldershot or Kilbride, you will most likely be paying higher insurance rates.
Quote data from MyChoice.ca, January 2025
Does Where You Live in Burlington Affect Your Home Insurance?
Where you live in Burlington can affect your home insurance significantly. The Burlington neighborhood where you decide to live will be heavily considered by insurance companies when they calculate your insurance premiums. Here are some ways in which your home’s neighborhood can affect your insurance rates:
Postal Codes With the Most Expensive Home Insurance in Burlington
L7R is the most expensive postal code for home insurance in the Burlington area.
| Postal Code | Average Annual Home Insurance Premium |
|---|---|
| L7R | $1,075 |
Quote data from MyChoice.ca, January 2025
Postal Codes With the Least Expensive Home Insurance in Burlington
People living within the L7T postal code in Burlington can join some of the lowest home insurance prices in the region.
| Postal Code | Average Annual Home Insurance Premium |
|---|---|
| L7T | $942 |
Quote data from MyChoice.ca, January 2025
Housing Data in Burlington
Below is a look at housing data in Burlington according to the 2021 Census of Population.
Homeownership Rate by Age in Burlington
Burlington seems to attract a lot of young homeowners, with a 64.8% homeownership rate for the age group of 25 to 39.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 19.1% |
| 25 to 39 | 64.8% |
| 40 to 54 | 79.0% |
| 55 to 74 | 79.6% |
| 75 and over | 71.5% |
Average Home Price in Burlington by Dwelling Type
The price for a single detached house in Burlington is around $1,351,207 which is well above the provincial average of $800,000.
| Type of Dwelling | Average Value |
|---|---|
| Detached | $1,351,207 |
| Semi-Detached | $929,500 |
| Freehold Townhouse | $903,500 |
Burlington Population Growth
Burlington’s population grew by only 1.98% between 2016 and 2021, which is quite low compared to other cities in Ontario.
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:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Burlington. 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 Burlington?
You need home insurance in Burlington if you want to keep your home and property protected from a myriad of unfortunate circumstances. Purchasing a home insurance policy can benefit you in the following ways:
- Protects you against damage from natural disasters such as floods, hail, earthquakes, fires, and other environmental forces
- Insures your home and personal belongings in case of theft, vandalism, or other malicious acts done to your property
- Protects you from having to pay when you’re liable for an accident or unfortunate event that happens on your property
- Provides you with living expenses in the event that your house is uninhabitable due to damage or ongoing repairs
- Allows you to meet mortgage companies’ requirements for home insurance before you can apply for a mortgage
How You Can Get Cheap Home Insurance in Burlington
If you’re trying to save money on home insurance in Burlington, visit our province page for practical tips.