Many people living within the City of Cambridge own their own homes. If you fall victim to a break-in or a sewer backup damages your home, are you properly protected? If you’re not certain you have adequate risk mitigation measures in place, call your trusted Cambridge insurance broker at Morison Insurance to get the comprehensive protection you need with the best home insurance Cambridge has to offer.
Your home is one of the biggest purchases you will make in your life, so why leave things to chance and suffer because you didn’t have the right home insurance in Cambridge? When you choose Morison Insurance as your insurance brokerage, you can have peace of mind knowing that you have the best possible insurance coverage for your home. Our team of insurance brokers in Cambridge offers only the best insurance products, and take the time to learn about your residential property insurance needs, so whether you run afoul of a flood event or a winter storm damages your home, you’ll have custom coverage specifically built for you. Learn more about your Cambridge home insurance policy options when you contact us today!
Cambridge home insurance policies provide the financial protection you need to keep a roof over your head in the event an unexpected event or disaster damages your home.
For example, suppose you have a house fire. Without the proper home insurance in Cambridge, you would be on the hook for tens of thousands of dollars—or even hundreds of thousands, depending on the extent of the damage—in home repair costs, and may have to spend more on medical costs or secondary housing. Or, should someone slip and injure themselves on your property, you may be liable for any medical costs or legal expenses arising from the incident. That’s where it pays to have some type of house insurance. Cambridge residents can have peace of mind knowing that should an insured event damage their home or an accident occur on their property that they are held liable for, they have the comprehensive insurance protection they need. The Cambridge home insurance brokers at Morison Insurance will be happy to discuss your coverage needs with you.
Cambridge residents technically do not need to have insurance coverage, but it still is a very good thing to have. As of January 2025, the average price of a home in Cambridge is $741,890. Although it is much lower than the average cost of a home in Toronto, which goes for over a million, your Cambridge residence still is one of the largest financial purchases you will make in your lifetime. That’s why it is important to protect it with the right home insurance in Cambridge. You may not think that the worst-case scenario will happen to you, but if it does and you don’t have insurance, not only do you face the cost of rebuilding out of pocket, but you will also have to continue paying the mortgage on your destroyed home. It could be financially devastating if you don’t have home insurance.
Cambridge is located right by the Grand River and Speed River, which means the city is susceptible to flooding. Although the last major flood event was in 1974, and the region has made huge advancements in flood-mitigation techniques and technology, smaller-scale events have occurred. Without flood protection as part of your home insurance in Cambridge, you would have to rebuild on your own. Additionally, heavy rainfall in the region can lead to overland flooding, and damage caused by other extreme weather events, such as high winds and ice storms, can necessitate proper house insurance.
Cambridge home buyers will also find that many mortgage lenders require proof of insurance before they approve your house loan. Unless you have hundreds of thousands of dollars lying around in cash, it is best that you get home insurance in Cambridge so you can be approved for a mortgage.
Cambridge home insurance policies can be widely different, as no two homeowners have the exact same type of home or lifestyle. That said, there are several common coverages that can be found in a Cambridge home insurance package, which include:
Of course, even with these coverages in their house insurance, Cambridge homeowners aren’t protected for everything. That’s why these are additional coverages that can be purchased for home insurance.
Cambridge policy seekers may be interested in additional coverage options such as:
The many coverage options available are why it’s important to clearly communicate your insurance needs to your Cambridge home insurance broker.
For the most comprehensive home insurance, Cambridge residents can rely on the team at Morison Insurance. We’ll find you quotes that cover everything you need for your home and personal insurance needs.
Generally speaking, the more your property is worth, the more you should invest in home insurance. Cambridge insurance seekers often believe that they can get away with the bare minimum, but should the worst-case scenario happen, you may not have enough financial protection to help you recover.
Our insurance professionals don’t want you to spend more than you need to on home insurance. Cambridge home insurance brokers will discuss your insurance requirements with you and find your insurance policies that meet those needs at an affordable price.
Cambridge residents who own their own home should get home insurance, regardless of the type of home they live in. Luckily, our Cambridge home insurance professionals can provide you with specialized policy options for all kinds of homes within the City of Cambridge and nearby communities, including for:
Remember, insurance is necessary for any residential property. If you rent out your home, you need landlord insurance, and if you rent, you need tenant insurance. Our Cambridge home insurance team will be more than happy to discuss the type of insurance coverage you need when you contact us.
Because Cambridge home insurance rates can vary widely depending on the types of coverage you have, it’s hard to provide an average cost. Even if you own the same type of home as your neighbour, you likely have different risks associated with you, so you would have different rates for your house insurance. Cambridge home insurance costs can be impacted by factors such as:
All these variables go into calculating premiums for your home insurance in Cambridge. The team at Morison Insurance may be able to find home insurance discounts that you are eligible to receive.
If you’re looking for the best possible home insurance in Cambridge and the surrounding area, know that you can rely on the professional insurance brokers at Morison Insurance. Whether you are a first-time homeowner or your auto insurance is renewing, we’ll ensure that your insurance needs are being met in Ontario.
Contact us at 1-800-463-8074 to get started on home insurance. Cambridge area residents can also fill out our online form for a free quote today.
