Quote data from MyChoice.ca, February 2025
What Risks Affect Homeowners in Sudbury?
If you live in Sudbury, you should be aware of the following risks:
Severe Event Probability in Sudbury
On August 20, 1970, an F3 tornado left six people dead in the Greater Sudbury area and caused widespread structural destruction.
Below are the MyChoice severe event probability scores for Sudbury, 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 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 $1,057 and $1,903, the average home insurance cost for the city is $1,470 per year.
Quote data from MyChoice.ca, February 2025
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:
Postal Codes With the Most Expensive Home Insurance in Sudbury
P3C and P3G postal codes have above-average home insurance rates in Sudbury.
| Postal Code | Average Annual Home Insurance Premium |
|---|---|
| P3C | $1,655 |
| P3G | $1,623 |
Quote data from MyChoice.ca, February 2025
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 Code | Average Annual Home Insurance Premium |
|---|---|
| P3B | $1,437 |
| P3E | $1,451 |
Quote data from MyChoice.ca, February 2025
Housing Data in Sudbury
Learn more about the housing landscape in Sudbury with more information from the 2021 Census of Population.
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 Group | Homeownership Rate |
|---|---|
| 15 to 24 | 45.7% |
| 25 to 39 | 73.5% |
| 40 to 54 | 84% |
| 55 to 74 | 86.6% |
| 75 and over | 83.8% |
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:
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.