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With humble roots reaching back to the original 1788 settlement, Welland Ontario has a history of industrial manufacturing and rapid growth thanks to its ideal location between Toronto and Buffalo.
After decades of uncertainty, these days Welland is back in growth mode with both industrial and residential lands expanding. While its population jumped to 55,750 in 2021 (a 6.6% increase from 2016), the city is also predicted to reach 80,000 residents over the next 20 years.
What does this mean for existing and incoming residents of the City of Welland?
WELLAND HOME INSURANCE COSTS
All insurance brokers will tell you, what level of insurance premiums someone pays each month to insure their home depends on variables like replacement costs, size of the home, age of home, unique risks and location.
The average cost of home insurance in Ontario according to RATESDOTCA data is estimated to be around $1342 per year and that Welland is NOT in the top 10 most expensive Ontario cities when it comes to home insurance.
According to all available data, Welland seems to be fairly average when it comes to what residents pay for home insurance. Contact your insurance agent to get an online quote and assessment to make sure all your insurance needs are being met.
Will this change over the next couple of decades as the city continues to evolve and grow? Only time will tell and we’ll be here to keep an eye on it.
Do you live in Welland and want to see what a home insurance policy would look like from Erie Mutual? Click here to get a quote.
ARE THERE UNIQUE RISKS TO HOMES IN WELLAND?
Welland is home to nearly 25,000 private dwellings thanks in part to an all-time record of new housing development in 2019, but do all homes face the same level of risk?
There are certainly some events that impact all residents the same, like how the Blizzard of 77’ pretty much blanketed everywhere in Niagara, but risks are often specific to each home based on its unique characteristics and immediate surroundings.
For example, large overhanging trees may be something those living in the neighbourhoods near Chippawa park may have to contend with more so than those living in newer homes built recently near Highway 406.
The average rainfall in Welland is significant (44 inches per year) but is still within the typical range for southern Ontario municipalities.
Being located further away from Lake Erie and Lake Ontario in central Niagara means Welland is less impacted by the high winds and lake effect snow that neighbouring towns like Port Colborne are forced to contend with.
WHAT MAKES WELLAND SO ATTRACTIVE TO NEW RESIDENTS?
When most people think of Welland they often imagine the picturesque bridge and the famous Welland Canal.
While this is certainly still part of what helps make Welland an attraction, especially as that reputation is leaned into by the South Niagara Rowing Club and the city’s canoe rental program, Welland is quickly becoming well known for other reasons.
Nowadays, thanks to the world-class Welland International Flatwater Centre, Welland plays host to many provincial, national and international competitions such as the Niagara 2022 Canada Summer Games and the annual Dragon Boat Festival.
Welland has also been the home of the popular Jackfish Baseball Club since November 2018.
Welland boasts 3 public library branches and a growing number of businesses and restaurants, many of which are located on Niagara Street or right in the city’s downtown core.
Originally known as the place where “rails and water meet”, Welland has evolved to forge a new path with a bright future ahead.
Erie Mutual Insurance is a company proudly serving the business insurance, farm insurance, home insurance and auto insurance needs of members throughout Southern Ontario including Haldimand, Niagara and Hamilton.
Please don’t hesitate to contact our office with any questions you may have about this or any other topic related to your insurance.
