Home Insurance in Niagara Falls

Home Insurance In Niagara Falls, Ontario

Owning your own home is something that many people dream about. Your own place, your own yard, your own space. What could make it even better? Having one of the most prominent Canadian tourist destinations in your own proverbial backyard. This is what owners in Niagara Falls get to experience. But like anywhere else in Ontario, owning a home has many responsibilities and opens you up to many risks, which can cause a lot of anxiety. The best way to help with this is to be protected with Niagara Falls home insurance. 

Is Niagara Falls Home Insurance Mandatory? 

No, Niagara Falls home insurance is not mandatory, but it may be required if you have a mortgage. Most lenders will require you to have a home insurance policy before implementing a mortgage. Owning a home in Ontario, especially Niagara Falls, is not a small purchase, but having the right Niagara Falls home insurance will allow you to stay protected and not worry about paying out of pocket for an insured peril. The expert brokers at Morison Insurance will be happy to speak to you about a Niagara Falls home insurance quote and why it’s so important to be appropriately protected. 

How Much Niagara Falls Home Insurance Do I Need? 

Niagara Falls home insurance protects you against a wide range of perils you could face, including risks such as fire, water, wind and theft. The easy answer is to have enough coverage to cover your home fully in the event of a loss. While a standard Niagara Falls home insurance plan will often include attached and detached structures such as garages, additional coverage can be purchased to ensure special items to your property, including pools, can be included in that protection. While each property is different, it’s best to contact a Morison Insurance expert broker, as they can review your property and ensure all your structures and other items are covered correctly. 

What Types Of Niagara Falls Home Insurance Can I Get? 

There are three main types of insurance for Niagara Falls homeowners, each providing different levels of coverage. Those types include comprehensive, basic and named perils, and broad coverage. 

Basic or Named Perils Insurance

This coverage will protect only the perils specifically outlined on your Niagara Falls home insurance policy. 

Comprehensive Home Insurance

This policy ensures that the home and its contents are protected from risks, except for any items that are specially excluded from the policy. That means those items are protected from various insured perils such as fire, lightning, theft, broken windows and aircraft or vehicle impact. 

Broad Insurance

This Niagara Falls home insurance policy covers any larger items on the property, including the home, and offers comprehensive coverage of its contents. 

These three coverages may seem confusing, and you may not be sure which best fits your needs. That’s where our expert Morison Insurance brokers come in. They can sit down with you when you begin a Niagara Falls home insurance quote and make sure your home is adequately protected. 

What Does Niagara Falls Home Insurance Cover? 

Your Niagara Falls home insurance covers many items on the property. This includes your dwelling, any other additional structures on the property, including sheds or garages, your personal property such as clothing, computers, and furniture, and liability coverage. Liability coverage protects you if someone else suffers injuries or damage while on your property. 

Regarding your personal property, so many items can live in a home. Maybe you have a rare baseball card or a collection. It’s hard to know if you will have enough coverage if the worst happens and you lose everything. That’s why completing a home inventory list is best when getting a Niagara Falls home insurance quote. This will allow our expert brokers to see what exactly you have and to make sure your policy is correct so you don’t have to replace those items out of pocket. 

What Risks Are Not Covered By Home Insurance In Niagara Falls? 

Niagara Falls home insurance will not cover certain things, such as: 

• Earthquakes 
• Vacant Properties 
• Frozen Pipes 
• Damage From Poor Upkeep 
• Certain Valuables Up To A Specified Limit 

While these will not be covered in a standard policy, additional coverage can be added to help mitigate risks and give you extra protection. This will ensure that your home is completely covered. To add any of these additional coverages, speak to an expert Morison Insurance broker today. 

Do You Need A Home Inspection For Niagara Falls Home Insurance? 

You are not required to get a home inspection when you purchase Niagara Falls home insurance. However, there are benefits to having a home inspection. Certain specific items in your home may require an inspection, such as wood fireplaces. An inspection is required for items such as this because they add risk to the property. This is why it’s important to let our expert Morison Insurance brokers know about items such as this when preparing a Niagara Falls home inspection quote so we can ensure you have the right protection and that any inspections can be completed. 

How Much Does Home Insurance In Niagara Falls Cost? 

That question is hard to answer as many factors will affect the cost of your Niagara Falls home insurance. That question is hard to answer as many factors will affect the cost of your Niagara Falls home insurance. However, the average cost for home insurance in Niagara Falls, Ontario, could range from $900.00 – $1335.00 annually for a home with a replacement cost of $250,000 to $500,000, while some areas in Niagara Falls could see replacement cost’s reach over $700,000.00 based on the assumption that there is no more than one mortgage registered to the property itself. 

Again, each specific insurance policy will be different as many different factors could impact the cost, including: 

• Where the home is located 
• The square footage of the home 
• The age of the roof 
• The structure of the home 
• The type of electrical 
• The type of plumbing 
• The type heating 
• Much more 

When you start a Niagara Falls home insurance quote, your dedicated insurance broker will need this information to ensure the accuracy of the quote, so make sure you have it readily available. 

How Can I Reduce The Premium For My Niagara Falls Home Insurance? 

There are several different ways to reduce your Niagara Falls home insurance premium. You can increase your deductible, avoid unnecessary claims, bundle your home and auto insurance and apply any relevant insurance discounts to your policy. 

Increase Your Deductible

First, your deductible is the amount of money you will have to pay personally when a claim is filed. This will have to be paid before an insurance company covers the remaining balance. You can choose a higher deductible amount, which would lower your insurance premium. That’s because the insurance company will see that you are willing to take a larger part of the risk. 

Avoid Unnecessary Claims

Every insurance company loves a customer with a low claims history. While sometimes it’s in your best interest to make a claim on some small losses, it may be best to avoid putting multiple small claims through, as this could affect your premium in the long run. A lower number of insurance claims shows that the customer they’re providing insurance to is a low risk, and you will be rewarded for that with a lower premium. 

Bundle Your Home and Auto Insurance

The insurance company will usually offer a discount by bundling your home and auto insurance with the same insurance company. This continues beyond just a home and insurance bundle. You can bundle various insurance policies together, and a discount will usually be given. You could bundle condo insurance with car insurance, cottage insurance with boat insurance and many other combinations that fit your specific lifestyle. 

Niagara Falls Home Insurance Discounts

There are many home insurance discounts available. However, only some insurance companies carry the same discounts, so make sure to speak with a Morison Insurance broker to ensure that you receive all the discounts that you qualify for. Some of those discounts include: 

• Having a monitored fire alarm 
• Having a monitored burglar alarm 
• Improvements to your home, such as wiring, plumbing or installing a new roof 
• Being claims free 
• Being mortgage free 
• Installing a sump pump 
• Being a non-smoker 
• Being a loyal customer 
• Being a retiree 

This is not a complete list, so make sure to talk with one of our insurance brokers to confirm which discounts apply to you. 

Why Is Home Insurance In Niagara Falls So Expensive? 

Compared to the rest of Ontario, Niagara Falls home insurance isn’t more expensive than any other major city in the province. Major risks such as floods, wildfires and other occurrences would traditionally increase the cost of home insurance in the area. 

Another factor that could impact your insurance is the insurance company itself. Different companies have internal factors that could affect customers’ overall policy prices. This is why it’s best to work with an insurance broker like the ones at Morison Insurance. 

Why Should I Use A Broker For Niagara Falls Home Insurance? 

Finding the right Niagara Falls home insurance can be a lot of work, and that’s where an insurance broker comes in. We take your policy, shop it around to several insurance providers on your behalf, and find what’s the best coverage for you. This will save you time emailing, calling, and discussing policy details. We are independent from the insurance companies, so we have no bias to any one specific company, and best of all, it’s free. 

We find the best policy for you, and once it’s in place, you will have a dedicated broker available to discuss any updates, changes, or insurance questions you may have. They will help you and ensure your satisfaction and peace of mind. 

Where Can I Find Reviews Of Niagara Falls Home Insurance? 

There are several places to find reviews for insurance brokers who can provide Niagara Falls Home Insurance. The best places to start are Google reviews, Facebook or the Yellow Pages. These three places are great places to look for reviews from customers who have worked with the company. 

How Do I Get A Niagara Falls Home Insurance Quote? 

You can get a Niagara Falls home insurance quote by contacting the brokers at Morison Insurance. We can begin shopping your policy to insurance providers and finding the best level of protection that fits you. Get started by calling 1-800-463-8074 or filling out the online quote form on this page.