How your home insurance premium is calculated
Several variables come into play when calculating your home insurance premium. The most important ones include your postal code, the age of your home, building type, and structural details like the number of storeys, kitchens, and bathrooms in your home. We’ll use these details to help predict the likelihood of damage caused by things like water, fire, wind/hail, and crime.
And of course, the level of protection you opt for will affect your price.
Onlia offers a number of discounts on your home insurance premium, like:
Daily premium structure
Our daily premium structure is the first of its kind in Canada. With Onlia, you'll pay only for the exact number of days you have insurance in a month (rather than paying a monthly average, or an entire year up front).
For example, let's say your premium works out to be $5 a day:
- $5 a day x 31 days = $ 155 a month
- $5 a day x 30 days = $ 150 a month
Most months are 31 days, so we quote you for that number. You'll pay a little less in shorter months. Every dollar counts, right?!
Bundle your car and home insurance for more discounts – you could save 15% on car and 20% on home when you bring both policies over to Onlia.
You’ll also save time when you bundle; manage both your home and auto policy online with ease. Sign in to My Account to make changes like updating your information, adding new vehicles, and even adjusting your coverage, all on your own. Learn more about the benefits of bundling with Onlia.