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We have you covered with PC home insurance in Toronto

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The benefits of PC Home Insurance

If you own a house or condo in Toronto, it's more than a home; it's a significant financial asset that likely makes up a huge portion of your net worth. Whether you live in the suburbs or in the heart of downtown, there's no denying that you need a home insurance policy with the coverage that you need.

That's where we come in. Our team sources quotes from multiple insurance providers for the best rates and plans we can get that work for you. And our team is available 24/7 for all your needs and concerns.

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And that's not all - we reward you for every dollar you spend with a PC Financial Mastercard®.

When you pay your PC insurance premium with your PC Financial Mastercard®, you earn 2X the regular PC Optimum points – redeemable for free groceries, fashion and more at participating stores. Minimum redemption is 10,000 PC Optimum points (worth $10 in free rewards).

Visit for details and full store list.

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Which home insurance companies does PC insurance work with in Toronto?

Aviva insurancePafco insurancePembridge insuranceEconomical insuranceTravellers insuranceZenith insuranceIntact insurance

What is homeowners insurance and is it different than home insurance?

Homeowners insurance not only covers your home, but also your personal property, living expenses while you're dealing with an insured loss, liability claims and more. However, the depth of coverage varies depending on the type of policy you choose. Home insurance typically refers to homeowners insurance, but the term can also be applied to condo insurance or tenant insurance.

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How to Get Home Insurance Quote in Toronto

You can get a home insurance quote online in only minutes from PC insurance. Simply use our free, no-obligation tool and we'll compare quotes from multiple insurance companies in Toronto to get you the best options we can find for your situation.

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Is home insurance required in Toronto?

You are not required by law to purchase home insurance in Toronto, but that doesn’t mean you should go without it. Most banks and mortgage holders will insist you purchase home insurance before they consider lending you money to buy a residence.

Why do I need home insurance?

Unfortunately, bad things happen. Home insurance can help you recover from disaster by covering the cost of rebuilding your home and replacing your belongings in the event of fire, theft, vandalism and other perils.

How much home insurance coverage do I need in Toronto?

You are not required by law to purchase home insurance in Toronto, but that doesn’t mean you should go without it. Most banks and mortgage holders will insist you purchase home insurance before they consider lending you money to buy a residence.

What does home insurance cover?


First and foremost, home insurance covers your home, including its roof, foundation, flooring, windows, doors, and more. While the perils covered depend on the type of coverage you choose, home insurance typically covers theft, fire, vandalism, some water damage, lightning, wind, vehicle impact, explosions, falling objects, and smoke.

Detached Structures

Home insurance also covers detached structures on your property, such as guest houses, sheds, and gazebos.

Personal Liability

Major damages to your home could affect so much more than the house itself. That’s why most home insurance will help cover for any bodily injuries or property damage that happen within your property.

Personal Property

Most home insurance policies, will cover your personal belongings, such as appliances, clothing, furniture and electronics. However, there are limits on the amount and the type of items that are covered. For example, computers, jewelry, cash, bicycles, fine art, musical instruments, and coin, stamp or card collections may require additional coverage.

Additional Living Expenses

Most home insurance policies will also cover living costs such as hotel fees, food expenses, storage costs, and other expenses during your time away from your home due to an insured loss.

What doesn't home insurance cover?

Overland flooding

While water damage caused by appliance or plumbing malfunctions is usually covered, most standard home insurance policies won’t cover damage caused by overland flooding.

Landslides & earthquakes

While this isn’t a serious concern for Torontonians, it’s still worth noting that most home insurers won’t cover damage caused by landslides or earthquakes. However, federal and provincial authorities may provide disaster financial assistance, if said disasters are the direct cause of damage to your home.


Mold rarely causes irreversible damage to homes (there are common types of mold that are found in every home, such as mildew on bathroom tiles), but when it does, home insurance policies generally do not cover mold damage.

Frozen water pipes

Home insurance policies do not typically provide coverage for water damage from frozen pipes. The general rule of thumb is that if you’re going to be away from your home for four consecutive days or more during winter, you need to either shut off your water supply and drain the pipes, or have someone regularly inspect the pipes to make sure heat is being maintained. If you fail to meet those requirements and your home is damaged, this damage will not be covered.

Wear & tear

While home insurance covers the cost of rebuilding your home in the event of a disaster, it is not a maintenance fund — the cost of regular maintenance is not covered.

Pest damage

Unfortunately, home damage from ants, termites, moths and other pests is usually not be covered by home insurance policies. Insurers consider infestations a home maintenance issue, which you, as the owner, are responsible for taking care of.

What factors affect the cost of home insurance?

Where you live

Home insurance companies factor in the frequency, type, and cost of claims in your area when calculating your premium. Homes in areas that are known to see more frequent and/or costly claims will typically be more expensive to insure.

Replacement cost of your home

One of the major factors that determine your home insurance premiums is the replacement cost of your home. Contrary to popular belief, it has nothing to do with your mortgage or your home’s current market value. It’s based instead on how much it would cost for the insurance company to restore your home to its latest state.

Condition of your heating, plumbing, electrical systems

Home insurance companies want to know that your home systems are well maintained. After all, older plumbing, wiring and heating systems can greatly increase the likelihood of disasters, such as leaks and fires, which would increase the cost of your insurance premium.

Distance from a fire hydrant/fire station

While this isn’t as much of a concern for Toronto residents, due to the number of fire hydrants around the city, having one near your property could result in a lower insurance premium. The sooner a fire can be put out, the less it will cost to repair your home.

Age and condition of your roof

The roofs of Toronto homes can take a real beating from snow and ice. If your roof exceeds its typical service life of 15 to 20 years, you may see that reflected in higher insurance premiums.

Your claims history

Insurance companies factor in your personal claims history when calculating your home insurance premiums as past claims is a strong predictor of future claims behaviour.

Type of policy you choose (comprehensive, broad, named perils, no frills)

Homeowners insurance comes in many levels of coverage. The more comprehensive your policy, the more expensive the policy is likely to be.

Additional coverage

If you own any unique valuables that are not covered under your standard home insurance policy, you can add additional coverage for those items. However, doing so will typically result in a higher home insurance premium.

How can I get cheaper home insurance?

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Bundle insurance policies

Did you know that most insurers will offer some sort of discount for those who opt to bundle home and auto insurance? PC insurance is no exception. By bundling our insurance policies with the same provider, you can earn up to a 15% discount.

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Install an alarm system

The more that you can do to help protect your home from loss, the more you will save on home insurance. And don’t worry – modern home security systems are more affordable and easier to install than ever.

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Compare quotes

There are many ways to save on your home insurance rates, but none are more effective than shopping around. Thankfully, you don’t need to go through that hassle with PC insurance. As an insurance broker, we shop around to bring you the best available rates we can find in Toronto, based on your situation.

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Pay a higher deductible

If you opt to pay a higher deductible, which is the amount you pay in the event of a home insurance claim, you will save some money on your annual premiums. However, that means you’ll have to pay more in the event of an insurance claim.

Are home insurance premiums tax deductible in Toronto?

Home insurance premiums are not generally tax deductible unless you are self-employed or run a business out of your home. If that is the case, talk with your accountant about your options.

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How do home insurance claims work?

In the event of property damage or theft, speak to a PC insurance claims advisor, available 24/7 at 1-877-251-8656. Your claims advisor will help you sort through the incident and help with your immediate needs such as temporary accommodations, facilitating repairs and replacing damaged property – just make sure to have basic information such as name, phone number, home address and postal code, date and details of the loss on hand. A claims professional will provide you with information about your coverage, details on damage, vendor recommendations, repair status, accommodation details, liability, deductible status and claim payments and will keep you up to date on the status of your claim.

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Can home insurance companies deny coverage in Ontario?

If an insurance company deems that your home is in the high-risk category, they can and will deny you coverage. Some of the most common reasons for denial of coverage are poor claims history, missed payments and insurance gaps.