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Affordable Home Insurance in Dundas

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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

Quick Facts About Home Insurance in Dundas

  • Dundas home insurance is LESS expensive than the Ontario average.
  • The average annual cost of home insurance in Dundas is around $635.

Quote data from MyChoice.ca, October 2024

What Risks Affect Homeowners in Dundas?

Many things can cause home damage. Here are common risks to watch out for as a homeowner in Dundas:

Crime

While crime levels differ from city to city, there’s always a risk of your home being damaged in criminal acts like vandalism and theft. In fact, Ontario has the highest crime rate in Canada, with a Crime Severity Index of 88.3. 

Flooding

Flooding in Ontario is extremely common because so many things can cause it. Some common flood causes include snow melts, heavy rains, and ice jams. Worse still, flash floods can happen with little to no warning. These frequent, sudden floods make flooding the costliest cause of property damage in the province. A major flood in Dundas happened in April 2017, where a month’s worth of rainfall dropped in one day. It resulted in flooded basements, mud slides, and blocked storm drains.

Fire

On average, Ontario experiences around 1,000 major forest burns each year. These fires can damage homes and force people to evacuate in extreme cases. Fire departments across the province often issue fire bans that restrict the use of fire pits and other similar items to avoid house fires. Sometimes it takes the smallest things to cause house fires, like the fire at the 19 Hunter Crt. building that happened in March 2023 because things were left unattended on a stove.

On-property accidents

Accidents can happen anytime and anywhere, regardless of how safe your home is. People may hold you liable for slips and falls that happened on your property, which is where home insurance comes in. Home insurance policies can cover numerous costs related to a slip and fall lawsuit.

How Much Does Home Insurance in Dundas Usually Cost?

Home insurance in Dundas costs around $635 annually. Home insurance premiums are affected by factors like your home’s age, roofing type, proximity to fire hydrants, and more.

Using your home as a place of business may also influence your home insurance rates. Using your home for business means more people coming in and out of your property, increasing your liability and risk of losing belongings.

Quote data from MyChoice.ca, October 2024

Housing Data in Dundas

Dundas is a town known for its abundance of green spaces and charm. It boasts a variety of natural attractions and historic buildings, meaning there’s so much to discover for visitors and residents alike. The town also offers quiet living without sacrificing modern comforts thanks to its proximity to the big city.

Dundas is part of the Greater Toronto and Hamilton Area, which means even if it feels like a small town, you still have quick access to Toronto. In fact,  Toronto’s city centre is just a 50-minute drive from Dundas. That means you can still live in Dundas and reliably commute to other parts of the GTHA for work.

Most homes in Dundas are single-detached homes and townhouses, meaning Dundas could be a great choice if you prefer to buy homes with a little more space.

Buying a home is a large commitment, so you need to do some research before deciding to live in Dundas. One way to do so is by checking the town’s housing statistics. There’s no dedicated census profile for Dundas itself, so we’ll use the Hamilton West-Ancaster-Dundas federal electoral district profile from the 2021 Census of Population:

Type of Occupied Dwelling

Of the 44,140 households in the district, 61.9% live in single-detached homes, making them the most popular dwelling type. Meanwhile, row houses take second place with a 14.3% share. Apartments also have a prominent presence in the area, with a cumulative 21.1% share between duplexes, low-rises, and high-rises.

Owner vs Renter Stats/Condo vs Non-Condo Owners

From the 25% sample data provided by the census, nearly three-quarters (72.6%) of households in Dundas own their homes, while the remaining quarter (27.4%) rent their homes.

Condominiums are somewhat prominent in Dundas, with 14.2% of households residing in condos. However, non-condo residents still comprise 85.8% of the area’s households.

Private Dwellings by Period of Construction: New or Older Homes?

True to its historic status, many households in Dundas live in old homes. 23.3% of households live in homes built in 1960 or before, while 30.7% live in homes built between 1961 and 1980. Homes in the new millennium are comparatively rare, with single-digit shares every five years between 2001 and 2021.

Major Repairs or Just Maintenance Needed?

Fortunately, homes in Dundas are incredibly well-maintained despite their age. 95.6% of households only needed regular maintenance and minor repairs for their homes. Contrast this with the 4.4% of households requiring major home repairs.

Average Home Price in Dundas by Dwelling Type

Type of DwellingAverage Value
Detached$1,087,507
Freehold Townhouse$740,000

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 Dundas. 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 Dundas?

There are many risks to your Dundas home. From flooding due to heavy rain to fires, unforeseen incidents can damage your home or its attached structures severely, which can take a lot of money to repair. Somebody can even get into an accident on your property, which might result in hefty legal and medical fees.

Unexpected expenses due to these incidents can stretch your finances thin. The good news is that home insurance can help. A home insurance policy can foot your home repair bills if a covered peril damages it. Additionally, it pays for the many costs associated with personal injury lawsuits.

With the many options for home insurance, which one is right for you? There’s no one “best” home insurance policy for everybody, so you need to learn more about home insurance in Dundas to make the right decisions.

Home insurance isn’t legally required in Dundas. That said, having a policy is still a good idea. Home insurance protects you from unforeseen events that cause costly damages. Instead of paying to fix it out of pocket, your policy can lighten the financial load. Here’s a quick look at the reasons why you should get home insurance in Dundas:

Liability protection

Accidents happen; when you do, you want to be protected. Unforeseen events can damage your property or get somebody injured on your property. Home insurance policies foot the liability costs of these incidents, meaning you don’t have to shell out as much for legal fees, medical expenses, and other costs you must pay.

Coverage for loss or damage

Your home is at risk of suffering expensive damage or loss due to natural disasters or other perils like theft and vandalism. A home insurance policy can keep you from becoming house-poor if you need to rebuild your home or find a new one. It can even cover the cost of temporary housing as your home is repaired.

Mortgage terms

Lenders and financial institutions like banks may require you to get a home insurance policy as a condition for getting a mortgage loan.

How You Can Get Cheap Home Insurance in Dundas

If you’re trying to save money on your home insurance coverage, visit our Ontario page for a few 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. Statistics Canada, 2021, Census of Population, Ontario, Dundas, Housing Statistics. Data Published March 29, 2023.

3. CREA, Ontario, Dundas, Median Price of Homes by Dwelling Type, 2024.

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