Quote data from MyChoice.ca, October 2024
What Risks Affect Homeowners in Gravenhurst?
Many things can cause home damage. Here are common risks to watch out for as a homeowner in Gravenhurst:
How Much Does Home Insurance in Gravenhurst Usually Cost?
Home insurance in Gravenhurst costs around $1,408 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 Gravenhurst
As a tourist destination, Gravenhurst is well-known for its host of recreational activities. Whether it’s going to a theater show or going hiking on one of its many trails, there’s no shortage of things to do in Gravenhurst.
Gravenhurst boasts a strong tourism industry, which means you can find plenty of work in town. Plus, the town is just a 45-minute drive from nearby Barrie where you’ll find even more work opportunities.
But is Gravenhurst a good place to live? Well, the cost of living in Gravenhurst is 18% under the provincial average and the average home price is about $150,000 cheaper than the Toronto average. So, if you’re eyeing a single-detached home or a low-rise apartment unit, you can find one in Gravenhurst.
You can learn a lot about a city’s housing landscape by examining its statistics. Here’s a look at essential housing information in Gravenhurst from the 2021 Census of Population:
Homeownership Rate by Age in Gravenhurst
Below are homeownership rates in Gravenhurst, categorized by different age groups:
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 25.0% |
| 25 to 39 | 63.2% |
| 40 to 54 | 75.4% |
| 55 to 74 | 83.6% |
| 75 and over | 85.6% |
Gravenhurst Population Growth
The Gravenhurst population experienced a 6.87% growth 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:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Gravenhurst. 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 Gravenhurst?
There are many risks to your Gravenhurst 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 Gravenhurst to make the right decisions.
Home insurance isn’t legally required in Gravenhurst. 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 Gravenhurst:
How You Can Get Cheap Home Insurance in Gravenhurst
Visit our Ontario page for a list of practical tips that will help you save money on home insurance.