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Written by Taras Trofimov
Content Manager
Updated October 27, 2026
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Is home insurance becoming costlier in Moncton in 2026?
Yes. Home insurance in 2026 is becoming costlier in Moncton, as part of a broader trend across New Brunswick and the Atlantic provinces. The average premium in the Atlantic Provinces went up 8.9% YoY in Q2 and 1.1% versus Q1, as indicated by the Applied Rating Index. On the other hand, the national average went up only 5.8% YoY in Q2 and 0.8% versus Q1.
The outlook on Moncton's home insurance premiums in 2026
Home insurance premiums in Moncton are up YoY in 2026, as part of a grander trend for the Atlantic Provinces, and are likely to continue to climb as we head into 2027.
| 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 Moncton 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
New Brunswick has felt the effects of extreme weather firsthand recently. In 2025, the province saw multiple bouts of heavy snow storms during winter and severe droughts during summer, which increased the risk of wildfires. In 2022, Hurricane Fiona resulted in widespread power outages in Saint John, Fredericton, Moncton and the Acadian Peninsula as well as fallen trees and structural damage along the Northumberland Strait and close to the Nova Scotia border, costing $30 million in insured damages.
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.
Factor #2: Surging rebuilding costs
As seen in the recent report by Verisk, residential rebuild costs in New Brunswick went up 23.0% from January 2021 to January 2026. As of 2026 Q1, YoY component costs are 3.8% higher across all of Canada, with B.C. in the lead at 4.7.% YoY and Ontario sitting in the second place at 4.4% 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.
Factors that determine your home insurance quote in Moncton
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 questions about home insurance in Moncton, answered
What perils are specific to Moncton?
The likelihood of different risks to your home varies based on your area. Homeowners in Moncton like those throughout New Brunswick should be aware of the risk of flooding in the spring, when snowmelt combined with rain can pose a higher risk of water damage to your home.
Standard home insurance policies typically exclude flood damage coverage. However, most insurance providers offer this as an optional add-on or as a separate insurance offering.
Sewage backup often occurs during a flood, and this peril is also a common exclusion in standard home insurance policies. Like flood damage insurance, coverage for this peril may also be available from your insurance provider as an add-on or special individual product.
What perils does home insurance cover in Moncton?
In the insurance industry, a “peril” is a hazard that may pose a risk of damage, resulting in an insurance claim.
Typical perils covered by home insurance in Moncton and elsewhere include:
- Fire
- Electrical current
- Lightning
- Explosions
- Smoke damage (as long as it’s not from your fireplace)
- Broken windows
- Falling objects (like tree limbs)
- Vandalism
- Theft
- Hail, wind and other severe weather
- Vehicle collisions
- Certain types of water damage (flooding and sewer backup are usually not covered unless you purchase special insurance for these perils)
What perils won’t property insurance cover in Moncton?
No home insurance policy covers damage from every possible peril. It’s essential to know what your insurance policy includes and what it doesn’t.
Often it’s possible to opt for add-on or special coverage for additional risks not included with standard home insurance.
Typical home insurance policies exclude damage from these perils:
- Flooding
- Sewer backup
- Freezing outdoors on your property
- Freezing inside your property during the cold season (when homes are usually heated)
- Earthquakes, avalanches, landslides and other earth movements
- Business-related activities
- Criminal behavior
- Vacancy
- Renters
Many insurance providers offer coverage for flooding and sewer backup as special add-ons to a standard home insurance policy, or as standalone products you can purchase separately.
If you plan to rent out your home or use it for business long-term, talk to your insurance company about other options for insurance coverage.
Special insurance products are available for seasonal homes such as cottages. Your home insurance company will have guidelines you’ll need to follow to protect your home from damage, such as draining the pipes and turning off the water before leaving a property vacant for the season, or having someone regularly check it for any maintenance needs.
If you plan to be away from your primary residence for an extended time, ask your home insurance provider what you should do to prepare your property and protect it. They will be able to guide you about what is required so that your home insurance coverage will still apply while you are away.
What kind of home insurance do you need in Moncton?
The kind of home insurance coverage you need in Moncton depends on your risk tolerance and coverage preferences as well as your budget.
Many Canadian homeowners opt for comprehensive home insurance, which offers the greatest protection against the most forms of risk.
Since a home is most people’s largest purchase, many homeowners feel that greater protection is a worthwhile investment.
Your home insurance price in Moncton will go up with a higher level of coverage, so it’s also important to consider your budget when shopping for home insurance. A basic policy can be a more budget-friendly option that still protects you from financial risk from many common causes of damage.
By comparing insurance offerings on LowestRates.ca, you can ensure you get the lowest price on the market for whatever level of home insurance coverage you choose. We’ll help you maximize your investment to get the best protection for your home at the cheapest rates around. Just use our online quote tool above to get started.
What can you do to save on home insurance premiums in Moncton?
The best method for securing cheap home insurance in Moncton is to shop the market. (Hint: Using LowestRates.ca’s free, online quote tool makes this easy).
Insurance rates and policies vary by company, so it’s important to compare customized quotes to lock in the best deal.
In addition to shopping around, there are a few other good ways you may be able to lower your home insurance cost in Moncton. These include:
- Bundling insurance products - Most insurance providers offer discounts for buying multiple products, such as home and auto coverage.
- Increasing your home’s safety and security - Find out whether your home insurance provider offers incentives for special equipment, such as monitored fire and burglar alarm systems.
- Raising your deductible - Your insurance deductible is the amount of a loss you’re responsible for covering before your insurance provider pays out. A higher deductible will usually come with a lower premium. Just be sure you have enough money set aside to cover the deductible in case of a claim.
- Paying your insurance premium annually - Paying your premium on an annual basis rather than in monthly installments may earn you a discount from some insurance companies.
- Checking for discounts - Many insurance providers offer discounts to membership groups like certain employers (including retirees) and alumni associations. Some providers offer non-smoker discounts and lower rates for long-time customers.
- Reviewing your coverage regularly - Sometimes your coverage needs change. Reviewing your policy at renewal time is a healthy financial habit to ensure you’re not paying for excess coverage. Getting a few quotes from competing providers is also a good idea. Just because your insurance company offered a great deal a decade ago doesn’t mean their rates are the most competitive today. Shop around when you renew to keep up with the market’s lowest available home insurance rates in Moncton.
What are the best home insurance companies in Moncton?
Home insurance is ultimately a customized product, so the best home insurance in Moncton really depends on your property, coverage preferences and budget.
There’s a good chance the insurance provider that your neighbour uses may not be the best fit for you and your home.
LowestRates.ca works with all the leading insurance providers in the Moncton market so you can be sure you’re getting reliable coverage from a reputable provider.
As with any purchase you make, it pays to be an educated consumer. Learn about the types of coverage available and determine what type of policy best suits you.
When you’re ready, use LowestRates.ca to get Moncton home insurance quotes online to be sure you’re getting the best rate. If you still have questions about insurance, you’ll be able to get them answered when a licensed Moncton home insurance broker connects with you to secure your coverage.
What if I own a condo or rent? Can I still buy property insurance online?
Yes. LowestRates.ca makes finding home insurance convenient, whether you’re seeking homeowners insurance in Moncton for a house you own, tenant insurance for an apartment you rent, or a condo insurance policy designed especially to fill the gaps for things that your condo association’s policy doesn’t cover.
Insurance providers design policies specifically to cover these different dwelling types. Renters, for example, don’t need coverage for the building, since their landlord is responsible for that. However, tenants should know that their landlord’s insurance policy won’t cover the contents of their apartment, personal liability if someone is injured while visiting, or additional living expenses if they’re forced to move during repairs. Tenant insurance covers these specific needs of renters, without the building coverage they don’t need.
House insurance in Moncton designed for homeowners covers the structure, contents, outbuildings, liability and additional living expenses.
Condo coverage protects you from losses inside your unit that your condo association’s policy typically doesn’t cover.
Whatever kind of home you live in, LowestRates.ca can help you shop all the top home insurance providers in Moncton. When you use our online quote tool, we’ll ask you for the dwelling type and a few other basic questions about your home. You’ll get 50+ quotes for home insurance so you can easily locate the lowest price for the coverage you need.
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.
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*Shoppers in Canada who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 32% 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 condo and tenant insurance.