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Written by Taras Trofimov

Content Manager

Updated October 13, 2026

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How much does London home insurance cost in 2026?

Home insurance in London costs around $1,740 – $2,410 per year as of 2026, according to LowestRates.ca’s latest quoter data. By contrast, Ontario home insurance premiums are around $1,875 – $2,170 per year, roughly $53 lower than London's (if you base the comparison on their midrange values).

How LowestRates.ca determines lowest and highest premiums

Estimated premiums are based on the average of the lowest two quoted premiums in 2026, with maximum available coverage for water protection using a profile of a 40-year-old homeowner, continuously insured for at least 10 years, who lives in a 2,500 sq ft detached house built 40 years ago, with brick veneer, wood frame construction, natural gas heat, a 10-year-old roof, and home replacement costs of $500,000.

Premiums are ordered according to Forward Sortation Areas (FSAs), which are the first three digits of a postal code, rounded to the nearest tenth. Premium ranges for each city are based on the lowest and highest premiums for each FSA. Ontario premium range is based on the median of all the lowest and highest premiums for each FSA.

About the comparison values

The comparison values are based on the midrange values for each city.

The formula to calculate the difference between each city is as follows:

((lowest premium + highest premium) ÷ 2) - ((lowest premium + highest premium) ÷ 2)

Example calculations:

Ontario midrange: ($1,875 + $2,170) ÷ 2 = $2,022.50
Toronto midrange: ($1,670 + $2,710) ÷ 2 = $2,190
Difference between Ontario and Toronto: $2,022.50 - $2,190 = -$167.50, rounded to -$168

London vs. Ontario's major cities: Who gets the lowest home insurance premiums in 2026?

Out of the five major cities in Ontario, Ottawa has the highest premiums in 2026, at $1,510 – $3,080 per year. They are roughly $220 higher than London's, which are around $1,740 – $2,410 per year.

If you’re wondering where your specific London neighbourhood falls in all of this, scroll on to find your postal code.

Rank	City	Annual premium (lowest – highest)	vs. London
1	St. Catharines	$1,590 – $2,040	~$260 lower
2	Hamilton	$1,450 – $2,290	~$205 lower
3	London	$1,740 – $2,410	$0
4	Toronto	$1,670 – $2,710	~$115 higher
5	Ottawa	$1,510 – $3,080	~$220 higher

Ontario annual premium (lowest – highest):
$1,875 – $2,170 (~$53 lower than London)

Major cities were selected based on their population size, sourced from Canada Statistics, 2025 Population Estimates.

London home insurance premiums by postal code

Postal codes with the highest home insurance premiums in London start with N6G, paying around $1,860 – $2,410 per year.

Postal code	Annual premium (lowest – highest)
N6A	$1,740 – $2,160
N6B	$1,740 – $2,410
N6C	$1,740 – $2,370
N6N	$1,830 – $1,860
N5V	$1,860 – $2,270
N5W	$1,860 – $2,370
N5X	$1,860 – $2,340
N5Y	$1,860 – $2,230
N5Z	$1,860 – $2,200
N6E	$1,860 – $2,360
N6G	$1,860 – $2,410
N6H	$1,860 – $2,340
N6J	$1,860 – $1,950
N6K	$1,860 – $2,330
N6L	$1,860 – $2,270
N6M	$1,860 – $1,870
N6P	$1,860 – $2,010

London annual premium (lowest – highest): $1,740 – $2,410

The outlook on London's home insurance premiums in 2026

Home insurance premiums in Ontario, and by extension, London, are up in 2026 and are likely to continue to increase as we head into 2027.

Home premiums rose 5.8% year over year in Q2 2026 nationwide, according to the Applied Rate Index. Ontario saw an average premium increase of 4.2% year over year.

The silver lining for Ontario is that compared to Q1 2026, home insurance premiums are actually down — by 0.1%. The only other province to see a decrease from Q1 to Q2 in 2026 was Quebec, at 1.9%. The rest of the provinces saw an increase.

That said, year over year, the trend is unlikely to remain downward for Ontario.

Quarter	Alberta	Atlantic Provinces	Ontario	Quebec	B.C.	Sask. & Man.
Q2 2026	11.9%	8.9%	4.2%	0.7%	1.9%	10.8%
Q1 2026	16.2%	10.8%	6.6%	4.0%	1.6%	11.2%
Q4 2025	13.5%	9.4%	4.3%	6.4%	1.7%	9.0%
Q3 2025	13.1%	7.3%	4.7%	11.2%	4.6%	8.9%
Q2 2025	9.5%	7.0%	5.0%	10.1%	1.0%	9.4%
Q1 2025	3.4%	4.2%	5.7%	9.6%	-5.9%	4.0%
Q4 2024	7.0%	4.5%	8.9%	8.5%	4.7%	7.9%
Q3 2024	5.5%	5.4%	10.4%	5.0%	7.6%	7.7%
Q2 2024	5.9%	7.9%	12.5%	4.7%	10.7%	8.3%
Q1 2024	10.4%	9.2%	12.7%	3.7%	18.3%	12.0%

Note: The percentages listed above are derived from comparing rates from one quarter to the same quarter in the prior year (e.g., Q2 2026 is compared to Q2 2025).

Source: The Applied Rate Index (Q2 2026)

What's driving London home insurance premium increases in 2026?

A recent study by Statistics Canada shows that intensification in extreme weather events in the last six years, combined with an increase in rebuilding costs, have led to significant challenges for insurers across Canada. Here are some highlights:

Factor #1: Extreme weather intensification

London has felt the effects of extreme weather firsthand. During the May 21, 2022 derecho, high winds knocked down trees that damaged hydro poles and power lines, and London Hydro’s Major Event Report says 57,034 customers were interrupted.

As of now, there are no indications that this upward trend will reverse any time soon. Extreme weather is bound to only get worse in the future, with temperatures and precipitation continuing to increase at a rapid rate. The City of London itself expects climate change to bring flooding, high winds, freezing rain and extreme temperatures, and lists higher property insurance costs among the impacts on Londoners.

Factor #2: Surging rebuilding costs

As seen in the recent report by Verisk, residential rebuild costs in Ontario went up 23.8% from January 2021 to January 2026. As of 2026 Q1, YoY component costs are 3.8% higher across all of Canada, with Ontario sitting in the second place among the provinces at 4.4% YoY. The first spot belongs to British Columbia at 4.7% YoY.

Furthermore, due to a growing skilled trades shortage — as job vacancies are expected to climb at a rate of 13% between 2026 and 2045 — there’s a high chance that home rebuilding costs will remain elevated as well.

Factor #3: Profitability concerns

All these issues have resulted in profitability concerns and pushed insurers to increase their premiums. According to the study, homeowners’ home and mortgage insurance increased 45% from December 2019 to December 2025, outpacing even the all-items Consumer Price Index (inflation), which went up 21% over that time span.

The outlook is grim, yes, but that doesn't mean that consumers have no options. Comparison shopping is still the best way, by far, to secure a cheap premium. And like all things financial, price shopping should be a habit rather than a once-in-a-blue-moon activity.

Get the cheapest home insurance quotes by comparing the market

Your home might be the biggest purchase you’ll ever make. Protect it with a great home insurance policy. LowestRates.ca will bring you the cheapest house insurance quotes from all the top providers in your area.

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See how our customers in London save big on home insurance.

Type of home	Location	Previous claims	Lowest rate	Average rate	Saved
Quote from October 30, 2026 Type of home Detached 2,190 sq ft	Location London	Previous claims None	Lowest Rate $109/mth $1,307/yr	Average rate $164/mth $1,965/yr	Saved $55/mth $660/yr (33.00%)
Quote from October 29, 2026 Type of home Detached 1,338 sq ft	Location London	Previous claims None	Lowest Rate $213/mth $2,555/yr	Average rate $322/mth $3,867/yr	Saved $109/mth $1,308/yr (34.00%)
Quote from October 29, 2026 Type of home Detached 1,590 sq ft	Location LONDON	Previous claims None	Lowest Rate $171/mth $2,052/yr	Average rate $246/mth $2,948/yr	Saved $75/mth $900/yr (30.00%)

Home insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, and Wawanesa Insurance.

Tips on how to lower the cost of your home insurance policy in London

Getting insurance for your home is easier than you think. To get the lowest rate possible, the Financial Consumer Agency of Canada recommends following these steps when shopping for home insurance.

Compare home insurance quotes from various providers.

Ask your broker or agent about bundling your home and car insurance policies.

Ask your broker or agent about which discounts you qualify for.

You might be able to further reduce your by increasing your deductible (the amount you pay toward a claim before your insurance kicks in) and by offering to pay your insurance bill annually instead of monthly.

Increasing your deductible is a great way to save on home insurance in the short term, just make sure you have money reserved for this purpose. Focusing on finding cheap quotes isn’t always a good idea. Having the right amount of coverage — now that should always be the goal.

Factors that determine your home insurance quote in London

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-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 your premium.

The square footage of your home.
Contents and quality of construction.
The location of your home.
Distance to a fire hydrant.
Your insurance claims history.
The age of your roof.
Your home’s plumbing.
Your home’s electrical system.

Your London home insurance questions, answered

What kind of risks are specific to London?

Cold temperatures. London winters can bring about frigid temperatures, which can cause pipes to freeze and later rupture. Burst pipes are a common cause of flooding.
Flooding. London may be on the perimeter of southwestern Ontario’s snow belt, but it still gets hit with heavy snowfall. The ensuing spring thaw has the potential to trigger flooding as well. The city is also no stranger to powerful thunderstorms. These are sometimes accompanied by downpours, which in turn can cause flooding.
Earthquakes. Powerful, destructive earthquakes are rare in southwestern Ontario, but London does indeed experience seismic activity. However, any activity often scores low on the Richter scale.

What risks does home insurance cover in London?

Generally speaking, home insurance guarantees the following things: financial assistance to repair or replace the structure of your home and your personal belongings; any additional living expenses you may incur if you're forced out of your home (for example, home insurance covers hotel stays should you ever need to evacuate your home); and protection of your personal liability. The latter covers some of your legal expenses should someone decide to sue you after injuring themselves on your property.

Home insurance typically covers the following risks:

Fire.
Theft.
Explosions.
Vandalism.
Water damage.
Smoke damage (excluding damage caused by fireplaces).
Electrical current.
Broken windows.
Lightning.
Wind and hail.
Falling objects (objects that land on your home as a result of an avalanche, earthquake or landslide are excluded).

What risks won’t home insurance cover in London?

Unfortunately, home insurance doesn’t cover everything. Here’s what’s usually not included in a standard home insurance policy:

Sewer backup.
Flooding caused by overland water.
Damage from insects and rodents.
Water damage that happens as a result of your home’s pipes freezing or bursting during the winter months.
Earthquakes.
Landslides.
Damage to property acquired illegally.
Damage from freezing outside the home.
Pollution.

To protect your home against these kinds of risks, you’ll need to top up your policy by purchasing extra coverage. These are called “endorsements".

What kind of home insurance do you need in London?

The answer to this question depends on the details of your situation as well as your personal risk tolerance. But to help you get you started, here are the four basic types of home insurance:

Comprehensive - This is the most extensive of all the policy types. Comprehensive insurance covers the structure of your home and its contents against all risks. It doesn’t, however, cover uninsurable perils like overland flooding and earthquakes.

Basic or Named Perils - This type of coverage only protects against perils that are specifically named in your policy.

Broad - A mid-priced policy that combines some of the benefits of a comprehensive and a basic policy. Your home’s structure is covered against all perils. Your contents, however, are only protected against named perils.

No-Frills - This type of coverage is intended for properties that don’t meet normal insurance standards. Homes with major structural issues, for instance.

Beyond the policies listed above, you may want to look at purchasing insurance endorsements for things like overland flooding and sewer backup.

What can you do to save on home insurance in London?

Select a higher deductible.
Buy auto insurance from the same insurer (bundling can often result in discounts).
Shop around online for the best rate.
Provide your insurer with a lump sum payment for the entire year instead of monthly premiums.
Equip your home with smoke detectors and monitored intruder alarms.
Purchase a brand new home (sometimes this can result in receiving a discount on your premiums).
Tell your insurer that you belong to a union, or are an alumnus of a particular university or college.
Be “claims free” (i.e., you’ve never made an insurance claim before).
Senior citizens can usually qualify for discounts.

What are the best insurance companies in London?

There’s no one insurance company that’s the best for everyone. The important thing is finding the right amount of coverage for your home at an affordable price. That’s why shopping around before locking into a policy is a good idea.

Beyond that, ask your broker or agent lots of questions and make sure they get answered to your satisfaction.

Some of the major home insurance companies operating serving London include:

Allstate Insurance
Desjardins Insurance
The Co-operators
Intact Insurance

Taras Trofimov

About the Author

Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.