Affordable Home Insurance in Simcoe

Out of the 202,820 households in Simcoe County, nearly three-quarters (73%) live in single-detached houses, which makes them the most popular dwelling type in Simcoe. Low-rise apartments come in second place with 16,860 households or an 8.3% share, while row houses take third place with 14,360 households or a 7.1% share.

Based on the 25% sample data taken for this census, over three-quarters (77.9%) of households in Simcoe are homeowners, likely owing to its below-average home prices. Renters make up 22% of the county’s households. The remaining 0.1% comprises households living in government, First Nation, or Indian band-issued housing.

Only a small percentage (8.3%) of Simcoe households live in condominiums. The largest portion (91.7%) of Simcoe residents live in non-condos.

Most Simcoe homes were built before 2000. The largest share of households (22%) live in homes built between 1961 and 1980, while the second-largest share (16%) live in homes built between 1991 and 2000. Residents of newer homes are comparatively rare, with only about one-third (32.4%) of households living in homes built from 2001 to 2021.

Most Simcoe residents live in homes built before the new millennium, but their homes are generally well-kept since 94.8% of them only needed minor repairs and regular maintenance. The remaining 5.2% needed major repairs.

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

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.

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

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.

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

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

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

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

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.

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

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.

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.

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