Northern communities in high 10 most costly home insurance – CTV Toronto

Timmins –

Five communities in northern Ontario make up half of the top 10 most expensive home insurance areas in the province, according to insurance comparison website RatesDotCA.

Based on data collected by their comparison software, the website lists the following areas with the highest estimated annual insurance premiums:

1. Lasalle – $ 2,098

2. Windsor – $ 2,072

3. Kingsville – $ 1,889

4. Amherstburg – $ 1,864

5. Thunder Bay – $ 1,857

6. Timmins – $ 1,821

7. Lively (Walden) – $ 1,761

8. Essex – $ 1,760

9. Garson – $ 1,747

10. Elliot Lake – $ 1,747

With some of the cheapest areas in the province closer to $ 1,000, like a city like Oakville, the site's editor-in-chief John Shmeul said the main cause is higher claims in smaller and rural communities.

There are a variety of reasons for this, including risks of weather hazards, flooding, canal jams and burglaries.

"In some areas of northern Ontario and in some smaller communities, higher home contents insurance rates correlate with higher rates of crime, and especially property crime," Shmeul said.

Water damage claims

The president of PAIB insurance in Timmins, Dan Ayotte, said claims related to water damage had been a major cause of rising premiums in recent years.

He said that more claims will inevitably lead to higher premiums. For people looking to save money, it is best to apply carefully only when absolutely necessary.

"The less damage we have, the premiums will lower," said Ayotte. "Now we're here to pay for claims. So if a disaster strikes, your insurance is there – a fire, a theft, a full sewer system."

Many insurers are offering discounts to homeowners who upgrade to prevent sewer congestion and break-ins, he said.

Paying a higher deductible and using an emergency fund instead of making a claim will help people save money in the long run, Ayotte said.

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