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When you find the best quote, secure your Cambridge home insurance rate by talking to a licensed broker or agent.
Cambridge is a Southern Ontario city popular with people who enjoy access to urban amenities and elements of rural life.
Many residents come to Cambridge for a more reasonable cost of living compared to nearby cities such as Guelph or Kitchener-Waterloo.
Keeping living expenses low is possible for homeowners who are willing to look for cheap home insurance in Cambridge.
Start with LowestRates.ca, where you can compare 50+ quotes for home insurance in Cambridge with our free online tool.
See how our customers in Cambridge save big on home insurance.
| Type of home | Location | Previous claims | Lowest rate | Average rate | Saved |
|---|---|---|---|---|---|
Quote from December 03, 2024 Type of home Detached 2,000 sq ft | Location Cambridge | Previous claims None | Lowest Rate $120/mth $1,442/yr | Average rate $301/mth $3,614/yr | Saved $181/mth $2,172/yr (60.00%) |
Quote from November 30, 2024 Type of home Semi-detached 996 sq ft | Location Cambridge | Previous claims None | Lowest Rate $81/mth $973/yr | Average rate $112/mth $1,340/yr | Saved $31/mth $372/yr (27.00%) |
Quote from November 30, 2024 Type of home Detached 700 sq ft | Location Cambridge | Previous claims None | Lowest Rate $57/mth $681/yr | Average rate $79/mth $946/yr | Saved $22/mth $264/yr (28.00%) |
Your home insurance policy will be customized to suit your needs and the property you’re insuring.
Home insurance premiums are determined by dwelling type (is it a single-family detached home, a house with a basement tenant suite, or a condo?). Insurance companies also try to predict the kind and size of claim you might make in the future.
Here are some of the criteria insurance companies look at when calculating the price of insurance for a home in Cambridge, or anywhere in Canada:
Determining an average cost for home insurance in Cambridge is hard to do because of how many variables go into determining a rate.
Home insurance providers look at many factors, but some of the most important ones include: coverage type, property location, property type and details about the homeowner.
The impact of each unique detail affects the overall rate.
As a result, no two homeowners are likely to end up with the same rate – even if they live in similar homes, in the same neighbourhood and have reflect many of the same personal details on their application.
Cambridge homeowners should carefully consider additional coverages to protect their homes against the effects of extreme weather.
Severe wind and thunderstorms are common in the area.
As a result, when you’re figuring out what insurance coverage to get for a home in Cambridge, we recommend that you closely consider flood coverage.
You’ll want to make sure that your home and its contents are protected in the event of an overland flood as well as against the effects of a sewer back-up – when water rises from the water table and interferes with your plumbing.
The perils you’re covered for depends on what sort of policy you purchase.
Comprehensive policies, which are also known as all perils policies, are popular because of the range of perils they protect against.
Typically, a comprehensive or all perils policy will protect against a wide range of perils, including:
Even a comprehensive policy can have exclusions for perils such as earthquake, flooding or damage from renters.
To make sure you have the protection you need, ask a broker about home insurance in Cambridge.
One will call you after you’ve used LowestRates.ca’s free online tool for quotes from 50+ of the best insurance home insurance providers in Cambridge.
One of the most significant decisions you have to make around affordable home insurance in Cambridge is what coverage type to get. If you’re looking for the most amount of protection for your home and contents, a comprehensive policy is likely a good match for you.
You can add additional coverage for even more protection.
Due to the effects of climate change, we recommend that all homeowners closely consider getting flood protection.
If you’re unsure of what coverage type makes the best sense for you and your home, speak with a broker about how the three main types of home insurance are different: comprehensive, broad and basic.
At LowestRates.ca, we’ll answer all your questions for free and make recommendations so you can be confident you’ve got the best coverage at the lowest rate.
Start with our free online tool. In three minutes, it’ll reflect to you the current insurance rates for homes in Cambridge.
Part of having the best insurance for your home in Cambridge means you’re comfortable with the extent to which your home and its contents are protected.
To save on your overall rate, you can tailor your policy. You’ll pay less for less coverage.
You can also opt to increase your deductible, or change your payment schedule. When you pay up front, rather than monthly, you may be eligible for savings.
The details of a home insurance policy are more important than the brand name of the company that underwrites it.
The best home insurance rates for one Cambridge resident may not be so for another.
The key to getting the best coverage – including rate and carrier – is in making sure the policy you select aligns with your needs.
For example, if you don’t feel strongly that your contents need to be protected, you may not be comfortable paying more for a comprehensive policy when a basic policy will do.
Equally, if you only have a basic policy and your home is damaged by a peril that’s not covered, you’re not going to consider it a good policy.
Yes, home insurance is available for condos.
If you’re a renter, you’ll want to get tenant insurance.
The process of securing a policy is the same for each kind of coverage. Start by using LowestRates.ca to get an insurance quote online for your home in Cambridge.
A broker will contact you to help you customize the policy. You’ll be able to get answers for any question you have about home, condo or tenant insurance.
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*Shoppers in Ontario who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 30%. The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes tenant and condo insurance.