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Affordable Home Insurance in Sudbury

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Recent Quotes From Our Users

Monthly PremiumsDate & TimeQuote TypeAgeGenderCity
$70.24Dec 23, 2024, 07:22 AMAuto57MaleWaterloo
$40.39Dec 23, 2024, 10:24 PMHome61FemaleSudbury
$29.25Dec 23, 2024, 09:23 AMTenant42FemaleToronto
$48.87Dec 23, 2024, 04:09 PMLife29FemaleToronto

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

Updated on November 12, 2024

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

Updated November 12, 2024

Visit author page

3 minute read

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

Quick Facts About Home Insurance in Sudbury

  • Sudbury home insurance is MORE expensive than the Ontario average.
  • The average annual cost of home insurance in Sudbury is around $1,455.

Quote data from MyChoice.ca, November 2024

What Risks Affect Homeowners in Sudbury?

If you live in Sudbury, you should be aware of the following risks:

Flooding

Spring flooding is common in Sudbury and can cause damage to your home foundation. Flooding also occurs during the winter when melting snow combines with rainfall. Your home is particularly susceptible to flooding if you live near Lake Huron.

Sewer backup

Clogged pipes and sewers are a direct result of flooding and can cause significant damage to your home.

Severe weather

During the winter, Sudbury sometimes experiences hail, which can damage your home structure.

How Much Does Home Insurance in Sudbury Usually Cost?

Home insurance is a personalized product, so expect rates to fluctuate according to your needs and preferences. According to our recent quote data the average cost of home insurance in Sudbury can be anywhere between $1,046 and $1,883, the average home insurance cost for the city is $1,455 per year.

Quote data from MyChoice.ca, November 2024

Does Where You Live in Sudbury Affect Your Home Insurance?

Yes, where you live in Sudbury can affect your home insurance. Here are a few considerations:

Neighbourhood

Your choice of a neighbourhood can significantly impact your premiums. If you live in a more expensive neighbourhood, like Bell Grove or Moonglow, home insurance rates tend to be higher.

Proximity to emergency services

If your home is prone to flooding and other related issues, how close you live to emergency services like fire and police stations can influence your home insurance rates. The farther you are from these resources, the more expensive your premiums will be.

Crime rates

While Sudbury is generally a safe place to live, crime rates in Greater Sudbury have experienced a recent surge. Properties in riskier neighbourhoods may become subject to higher insurance rates.

Postal Codes With the Most Expensive Home Insurance in Sudbury

P3C and P3G postal codes have above-average home insurance rates in Sudbury.

Postal CodeAverage Annual Home Insurance Premium
P3C$1,638
P3G$1,606

Quote data from MyChoice.ca, November 2024

Postal Codes With the Least Expensive Home Insurance in Sudbury

The P3B postal code area tends to have some of the cheapest home insurance rates in Sudbury.

Postal CodeAverage Annual Home Insurance Premium
P3B$1,422
P3E$1,436

Quote data from MyChoice.ca, November 2024

Housing Data in Sudbury

Learn more about the housing landscape in Sudbury with more information from the 2021 Census of Population.

Type of Occupied Dwelling

Most properties in Sudbury are single-detached homes (60.6%), followed by apartments in buildings with fewer than five stories (16.9%). 4.1% of properties are row houses.

Owner vs Renter Stats/Condo vs Non-Condo Owners

64.5% of Sudbury residents own their properties, while 35.5% rent their homes.

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

Most Sudbury homes were built between 1961 and 1980 (37.1%), followed by homes built before the 1960s (29.9%). By comparison, only 2.3% of homes were built between 2016 and 2021.

Major Repairs or Just Maintenance Needed?

Most Sudbury homes only require regular maintenance and minimal repairs (93.1%), while about 6.9% of homes require major renovations and repairs.

Homeownership Rate by Age in Sudbury

Homeownership in Sudbury is quite high for all individuals but especially for residents aged 25 and older, with particularly strong rates in those aged 40 and up. The impressive 73.5% ownership rate among the 25 to 39 age group suggests a strong engagement with the housing market among younger adults.

Age GroupHomeownership Rate
15 to 2445.7%
25 to 3973.5%
40 to 5484%
55 to 7486.6%
75 and over83.8%

Sudbury Population Growth

Sudbury’s population increased steadily from 21,546 to 22,368 people between 2016 and 2021. This indicates a growth rate of roughly 3.8% across the five years.

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 Sudbury. 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 Sudbury?

Sudbury home insurance isn’t necessary, but purchasing a policy can provide ample financial protection in emergencies. Here are a few other reasons you should get home insurance in Sudbury:

  • To provide financial support in case perils like natural disasters, falling objects, and explosions damage your home
  • To replace belongings and personal property lost to vandalism, theft, and other perils
  • To provide financial assistance in case your home becomes uninhabitable
  • To meet mortgage requirements
  • To provide peace of mind

How You Can Get Cheap Home Insurance in Sudbury

If you’re trying to save money on your preferred home insurance coverage in Sudbury, 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, Sudbury, Home Insurance Quotes Collected, 2024.

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

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

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

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

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