Home InsuranceWhat are five ways to save on condo insurance?
KEY FINDINGS: Bundling condo and auto insurance saves 5% to 20%: Buying both policies from one insurer e...
21,341 Canadians
have compared rates and saved money over the last 24 hours
Compare cheap home insurance quotes in Ontario for free.
Save $300 or more on home insurance with LowestRates.ca.*
Get 50+ quotes in 3 minutes.
Compare quotes from Canada's leading home insurance providers
What our users say:
Written by Taras Trofimov
Content Manager
Updated October 29, 2026
How comparing home insurance quotes works. Hint: it’s free!
Share
First, we need to know about you and your home. It only takes 3 minutes, and it’s 100% confidential.
Compare
Next, we’ll show you quotes from 50+ Canadian providers. It’s free, with no commitment.
Save
When you find the best quote, secure your Ontario home insurance rate by talking to a licensed broker or agent.
How much does Ontario home insurance cost in 2026?
Home insurance in Ontario costs around $1,875 – $2,170 per year as of 2026, according to LowestRates.ca’s latest quoter data.
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
Ontario home insurance premiums by city (2026)
| Rank | City | Annual premium (lowest – highest) |
|---|---|---|
1 | $1,440 – $1,770 | |
2 | $1,320 – $1,970 | |
3 | Newmarket | $1,510 – $1,880 |
4 | $1,320 – $2,080 | |
5 | Whitchurch-Stouffville | $1,620 – $1,780 |
6 | Stratford | $1,590 – $1,820 |
7 | Fergus | $1,370 – $2,050 |
8 | Vaughan | $1,420 – $2,000 |
9 | Richmond Hill | $1,510 – $1,920 |
10 | $1,330 – $2,130 | |
11 | Oshawa | $1,420 – $2,050 |
12 | Waterdown | $1,580 – $1,890 |
13 | East Gwillimbury | $1,690 – $1,780 |
14 | Courtice | $1,700 – $1,780 |
15 | $1,420 – $2,070 | |
16 | Orangeville | $1,620 – $1,910 |
17 | Amherstview | $1,520 – $2,050 |
18 | Kitchener | $1,320 – $2,270 |
19 | Markham | $1,500 – $2,090 |
20 | Uxbridge | $1,570 – $2,030 |
21 | Aurora | $1,720 – $1,880 |
22 | Acton | $1,700 – $1,910 |
23 | $1,630 – $1,990 | |
24 | St. Catharines | $1,590 – $2,040 |
25 | Shelburne | $1,480 – $2,170 |
26 | $1,320 – $2,360 | |
27 | Kingston | $1,620 – $2,070 |
28 | New Hamburg | $1,800 – $1,890 |
29 | $1,530 – $2,180 | |
30 | Perth | $1,660 – $2,050 |
31 | Caledon | $1,480 – $2,240 |
32 | Halton Hills | $1,420 – $2,310 |
33 | $1,450 – $2,290 | |
34 | $1,570 – $2,170 | |
35 | Gananoque | $1,690 – $2,050 |
36 | King City | $1,750 – $1,990 |
37 | $1,330 – $2,420 | |
38 | $1,410 – $2,360 | |
39 | Scarborough | $1,510 – $2,270 |
40 | Port Hope | $1,730 – $2,050 |
41 | Kanata | $1,620 – $2,170 |
42 | Napanee | $1,750 – $2,050 |
43 | Clarence-Rockland | $1,820 – $1,980 |
44 | Newcastle | $1,630 – $2,180 |
45 | Brant | $1,640 – $2,170 |
46 | Smithville | $1,580 – $2,240 |
47 | Winchester | $1,840 – $1,980 |
48 | Branchton | $1,590 – $2,240 |
49 | Niagara Falls | $1,590 – $2,260 |
50 | Ingersoll | $1,810 – $2,050 |
51 | Welland | $1,610 – $2,260 |
52 | Georgina | $1,630 – $2,240 |
53 | Sunderland | $1,750 – $2,120 |
54 | Bradford West Gwillimbury | $1,910 – $1,960 |
55 | Mount Albert | $1,700 – $2,180 |
56 | $1,630 – $2,260 | |
57 | Carleton Place | $1,840 – $2,050 |
58 | Elmira | $1,890 – $2,010 |
59 | Port Colborne | $1,920 – $1,980 |
60 | Sundridge | $1,670 – $2,240 |
61 | Delhi | $1,740 – $2,170 |
62 | Tillsonburg | $1,860 – $2,050 |
63 | Pelham | $1,930 – $1,980 |
64 | New Tecumseth | $1,880 – $2,050 |
65 | Cornwall | $1,680 – $2,260 |
66 | Belleville | $1,700 – $2,240 |
67 | Cobourg | $1,780 – $2,160 |
68 | Hagersville | $1,900 – $2,050 |
69 | Bowmanville | $1,700 – $2,260 |
70 | Pembroke | $1,700 – $2,260 |
71 | Peterborough | $1,730 – $2,240 |
72 | Prescott | $1,980 – $1,990 |
73 | $1,630 – $2,350 | |
74 | Lucan | $1,830 – $2,170 |
75 | Saint Marys | $1,950 – $2,050 |
76 | Russell | $1,920 – $2,090 |
77 | Penetanguishene | $1,960 – $2,050 |
78 | Windham Centre | $1,790 – $2,240 |
79 | Listowel | $1,980 – $2,050 |
80 | Midland | $1,990 – $2,050 |
81 | Owen Sound | $2,000 – $2,050 |
82 | Grimsby | $1,800 – $2,260 |
83 | Stirling | $1,980 – $2,080 |
84 | Woodstock | $1,820 – $2,250 |
85 | Harriston | $1,920 – $2,170 |
86 | Simcoe | $2,040 – $2,050 |
87 | Petawawa | $1,860 – $2,240 |
88 | Thorold | $1,930 – $2,170 |
89 | Vankleek Hill | $1,980 – $2,130 |
90 | North York | $1,520 – $2,600 |
91 | Bolton | $1,960 – $2,160 |
92 | Meaford | $2,050 – $2,080 |
93 | Fort Erie | $1,900 – $2,240 |
94 | $1,740 – $2,410 | |
95 | Orillia | $1,750 – $2,410 |
96 | Hawkesbury | $2,050 – $2,120 |
97 | St. Thomas | $1,870 – $2,310 |
98 | Smiths Falls | $2,050 – $2,130 |
99 | Port Perry | $1,960 – $2,240 |
100 | Stayner | $1,960 – $2,240 |
101 | Quinte West | $2,050 – $2,150 |
102 | Wallaceburg | $2,050 – $2,180 |
103 | Huntsville | $1,690 – $2,550 |
104 | Kincardine | $1,910 – $2,330 |
105 | Renfrew | $2,050 – $2,190 |
106 | Arnprior | $2,060 – $2,180 |
107 | Innisfil | $1,990 – $2,260 |
108 | Kawartha Lakes | $2,050 – $2,200 |
109 | Parry Sound | $1,960 – $2,320 |
110 | Phelpston | $2,040 – $2,240 |
111 | Hanover | $2,050 – $2,240 |
112 | Lambton County | $2,060 – $2,240 |
113 | Thornbury | $2,060 – $2,240 |
114 | North Bay | $1,630 – $2,680 |
115 | Etobicoke | $1,770 – $2,540 |
116 | $2,050 – $2,260 | |
117 | Goderich | $2,070 – $2,240 |
118 | Mitchell | $2,050 – $2,270 |
119 | Amherstburg | $2,080 – $2,240 |
120 | Arden | $2,080 – $2,240 |
121 | Elizabethtown | $2,100 – $2,240 |
122 | Springwater | $2,170 – $2,170 |
123 | Gravenhurst | $1,800 – $2,550 |
124 | Orono | $2,110 – $2,240 |
125 | Milbrook | $2,120 – $2,240 |
126 | Dresden | $2,110 – $2,260 |
127 | $1,670 – $2,710 | |
128 | Flesherton | $2,150 – $2,240 |
129 | Nepean | $1,690 – $2,710 |
130 | East York | $1,860 – $2,550 |
131 | Collingwood | $2,050 – $2,370 |
132 | Strathroy | $2,050 – $2,370 |
133 | Brockville | $2,180 – $2,240 |
134 | Bobcaygeon | $2,190 – $2,240 |
135 | Sarnia | $2,050 – $2,410 |
136 | Wasaga Beach | $2,200 – $2,260 |
137 | Coldwater | $2,220 – $2,240 |
138 | Port Stanley | $2,170 – $2,300 |
139 | Kemptville | $2,240 – $2,250 |
140 | Lakefield | $2,240 – $2,260 |
141 | Salford | $2,240 – $2,270 |
142 | Beachburg | $2,250 – $2,260 |
143 | Mckellar | $1,840 – $2,680 |
144 | Aylmer | $2,050 – $2,480 |
145 | Dorchester | $2,050 – $2,480 |
146 | $1,510 – $3,080 | |
147 | Utterson | $1,940 – $2,680 |
148 | Verner | $1,930 – $2,740 |
149 | Bracebridge | $2,120 – $2,550 |
150 | Essex | $2,020 – $2,660 |
151 | $2,020 – $2,680 | |
152 | Kingsville | $2,260 – $2,450 |
153 | Leamington | $2,260 – $2,450 |
154 | $1,910 – $2,810 | |
155 | James | $2,190 – $2,550 |
156 | Val Caron | $2,280 – $2,550 |
157 | Torrance | $2,100 – $2,740 |
158 | Emo | $2,290 – $2,550 |
159 | Kenora | $2,290 – $2,550 |
160 | Caledonia | $2,240 – $2,740 |
161 | Ingolf | $2,450 – $2,550 |
162 | Lively | $2,330 – $2,740 |
163 | Dryden | $2,410 – $2,670 |
164 | Espanola | $2,550 – $2,560 |
165 | Kilworthy | $2,430 – $2,740 |
166 | Iroquois Falls | $2,450 – $2,800 |
167 | Fort Frances | $2,550 – $2,700 |
168 | Neebing | $2,590 – $2,660 |
169 | Elliot Lake | $2,550 – $2,710 |
170 | Garson | $2,550 – $2,710 |
171 | Red Lake | $2,550 – $2,730 |
172 | Kirkland Lake | $2,550 – $2,750 |
173 | Timmins | $2,470 – $2,850 |
174 | Sault Ste. Marie | $2,260 – $3,070 |
175 | Sturgeon Falls | $2,550 – $2,780 |
176 | Mississagi River 8 | $2,600 – $2,740 |
177 | Sioux Lookout | $2,550 – $2,800 |
178 | Hanmer | $2,550 – $2,840 |
179 | Beardmore | $2,680 – $2,750 |
180 | Wawa | $2,680 – $2,800 |
181 | Minaki | $2,680 – $2,850 |
182 | Cochrane | $2,680 – $2,870 |
183 | Little Current | $2,740 – $2,810 |
184 | South Porcupine | $2,680 – $2,880 |
185 | Kapuskasing | $2,740 – $2,880 |
186 | $2,340 – $3,400 | |
187 | Chelmsford | $2,680 – $3,290 |
Ontario annual premium (lowest – highest):
$1,875 – $2,170
The outlook on Ontario's home insurance premiums in 2026
Home insurance premiums in Ontario are up in 2026 and are likely to continue to climb 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 Ontario's 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
Ontario has felt the effects of extreme weather firsthand: the July 2024 flash flood in Toronto and surrounding areas alone caused an estimated $940 million in insured damage, and the March 2025 ice storm, which also impacted Quebec, added $466 million more.
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 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.
Compare home insurance quotes from Canada's leading insurance providers in just 3 minutes.
See how our customers in Ontario save big on home insurance.
| Type of home | Location | Previous claims | Lowest rate | Average rate | Saved |
|---|---|---|---|---|---|
Quote from November 10, 2026 Type of home Detached 2,753 sq ft | Location Woodbridge | Previous claims None | Lowest Rate $90/mth $1,075/yr | Average rate $153/mth $1,837/yr | Saved $64/mth $768/yr (41.00%) |
Quote from November 10, 2026 Type of home Detached 2,062 sq ft | Location Pickering | Previous claims None | Lowest Rate $91/mth $1,095/yr | Average rate $161/mth $1,930/yr | Saved $70/mth $840/yr (43.00%) |
Quote from November 10, 2026 Type of home Detached 2,396 sq ft | Location Lasalle | Previous claims None | Lowest Rate $99/mth $1,183/yr | Average rate $144/mth $1,724/yr | Saved $45/mth $540/yr (31.00%) |
Home insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, and Wawanesa Insurance.
Different types of home insurance coverage in Ontario
People interested in home insurance have a variety of choices and ways to protect their homes. There are four types of coverage to choose from, including:
Comprehensive: This is the most thorough home insurance available. It’s also the most expensive, as it covers the home and its contents against all perils and losses, expect those that are explicitly excluded. The two kinds of perils that are typically not included in any policy are ‘uninsurable perils’ (e.g. water damage, insect damage, earthquakes) and ‘optional coverage’ (e.g. sewer back-up). These perils require additional coverage.
Basic: Also known as a 'named perils' policy, this policy covers your home and its contents for perils specifically named in the policy. It’s less expensive than the comprehensive option but leaves the homeowner at greater risk.
Broad: Broad form policy covers your home and its contents for perils specifically named in the policy. It’s less expensive than the comprehensive option but leaves the homeowner at greater risk.
What most policies cover
Those seeking home insurance should also consider the specifics within each type of policy. They might want to include:
Building/property coverage: Most home insurance policies include protection for each building on the property, including the primary dwelling as well as detached buildings such as a shed or garage.
Contents: Most comprehensive home insurance policies include protection for the contents of your home. This means that if they’re damaged by a covered peril, you’ll receive financial compensation.
Personal liability: Personal liability protects the policyholder and anyone who lives in the insured property if someone is injured by their negligence anywhere in North America. Personal liability coverage includes protection for bodily injury and coverage for property damage. While bodily injury aspect of liability coverage will pay for damages awarded to someone who’s injured at the insured’s home, property damage will cover costs if the policyholder damages someone else’s property. When you purchase a home insurance policy, it’s standard to receive liability protection to a limit of $1,000,000. However, experts often recommend that homeowners increase their limit to $2,000,000 because of how costly medical and legal expenses can quickly become.
Additional living expenses: If your policy includes coverage for Additional Living Expenses (ALE), the costs associated with your displacement from home following an insured loss will be covered. For example, the cost of staying at a hotel while your home is repaired following a fire would be covered.
Most home insurance policies include coverage for common perils such as fire, wind, hail, lightning strike, water damage and explosion. In addition, most include liability protection. However, if you’re looking for the most coverage possible, consider adding coverage. Some of the most common add-ons include flood protection, earthquake and sewer back-up.
As incidents of severe weather become more and more common across Ontario, we recommend that every homeowner seriously consider adding flood protection to their home insurance policy. It’s usually considered an exclusion meaning that in the event of a flood, protection will not be available.
Common optional coverages
There are several optional coverages, or ‘endorsements,’ that can be added to home insurance policies.
Flood protection: Sewer back-up and overland floods are rarely covered by most policies – unless you add them as an endorsement. Sewer back-up covers water damage from overflowing drains, eavestroughs, sewer pipes and sump pumps, while overland water covers flood damage due to overflowing bodies of water, such as rivers or streams. While sewer back-up can happen to almost anyone, overland flooding only happens in certain areas.
Earthquakes: Depending on where you live, damage from earthquakes can be a very real threat. Earthquakes are more prominent on the west side of Canada, but the east isn’t necessarily off the hook either. According to the IBC, there is a 5%-15% risk that a powerful earthquake can hit areas between the St. Lawrence River Valley and the Ottawa Valley, which include cities like Quebec City, Montreal and Ottawa.
Home-based business: Most home insurance policies should cover lower-value possessions like books, tools or instruments. However, if you are running a small business from your home, consider a home-based business insurance add-on to protect your work equipment.
Exceptions: Exceptions to home insurance coverage often mold, maintenance and infestations. All these issues can be prevented by the homeowner through basic upkeep, which is why insurance companies almost never cover them.
Freezer food: If your food spoils due to a freezer malfunction or power outage in your home, this will cover the costs of replacing the food, and in some cases, the freezer itself. This is especially useful if you have multiple freezers in your home. Do note that if your food spoils for other reasons, such as you not closing the freezer door, then you won’t be covered.
Mass evacuation: If you find yourself under an evacuation order, whether it’s due to wildfires, flood or a tornado, this will cover the extra expenses you may incur as a result, such as hotel fees, groceries or travel.
Identity theft and fraud: Whether someone steals your identity or uses it for fraudulent activities (e.g. your social insurance number is stolen to gain access to your bank account), your insurance provider can cover the costs of restoring your identity.
Lock replacement: If your lock gets damaged due to a break-in or burglary, your insurance can cover the cost of replacing or repairing the damaged lock.
Tips on how to get the cheapest home insurance in Ontario
Getting insurance for your home is easier than you think. To get the lowest rate possible, consider the following these steps when shopping for home insurance:
Increase your deductible. 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.
Install a theft alarm system and smoke detector. The more security features you have – to protect your home from theft and damage alike – the less risk there is for losses. Insurance providers will reward that with discounts.
Upgrade your electrical, heating and plumbing systems. Any upgrades to your home’s systems mean a reduction in risk for damage or fire.
Protect your home from severe weather and water damage. If you’re worried about extreme weather damaging your home, adding safeguards such as sump pumps, reinforcing basement walls or re-doing your roof can save you money in the long run and protect your belongings.
Ask your broker or agent for discounts. You can do this around policy renewal time.
Pay your premium annually instead of monthly. Many providers offer discounts for upfront payment as it helps reduce their own administration costs.
Don’t increase the replacement value of your home. If you’re planning renovations, let your insurance provider know ahead of time to ensure you don’t accidentally increase the replacement value of your home – because this can also increase your premiums.
Bundle with your car insurance provider. Your loyalty to one provider is often rewarded with discounts for the extra business. Bundling can also reduce the hassle of payments and can simplify the claims process.
Compare home insurance quotes from various providers. LowestRates.ca is your one-stop shop for cheap home insurance quotes. Just input a few bits of information about your insurance needs and location, and we’ll do the rest. You’ll receive instant quote comparisons from top providers. It’s free and there’s no downside.
Factors that determine your home insurance quote in Ontario
Home insurance premiums are determined by several factors. Some of the most important factors include location, proximity to water and dwelling type. For example, is the home on the shores of a lake that has a history of flooding? 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 they look at when calculating your premium:
The square footage of your home: In general, you’ll pay more for more coverage. You’ll likely pay more for a 5,000 square foot home than for a 1,000 square foot condo.
The location of your home: Insurance costs will be greater in areas with a history of flooding. Similarly, if your home is in a neighbourhood with a high crime rate, you could pay more.
Distance to a fire hydrant: You’ll pay more if your home is located at a significant distance from a fire hydrant because providers estimate that in the event of a fire, fire services will take longer to extinguish the flames and your home will be more significantly damaged as a result.
Your insurance claims history: If you have a history of insurance claims, you’re likely to pay more.
The age of your roof: Since a damaged roof can lead to extensive damage throughout a home, an aged roof could result in a more expensive premium.
Your home’s plumbing: Water damage of any sort can be costly. A home with a history of plumbing issues is likely to result in more costly premiums.
Your home’s electrical system: Out of date electrical systems such as knob-and-tube wiring are considered risky to insurance providers.
Common risk factors for homeowners in Ontario.
Flooding, freezing temperatures and earthquakes pose a risk to Ontarians, particularly to those with homes near water, in more northern parts of the province and those located near tectonic fault lines.
If you fall into either category, or all three, we encourage you to add coverage to your policy. While water protection that’s standard to most policies will protect your home in the event of a frozen pipe, flood protection and earthquake coverage are not included in most policies.
Here, we describe in greater detail the three perils specific to Ontario homeowners.
Overland flooding
Water damage has overtaken fire as the primary cause of home insurance claims in Ontario. It occurs when excess rainfall or snowmelt causes freshwater or wastewater sources to fill beyond their normal confines and seep into homes through doors, windows, basements, and vents. The resulting water damage can be extremely costly to repair. Most basic home insurance policies do not cover overland flooding, storm surges, or even backed-up sewers — to protect against these kinds of water risks, additional coverage is usually required.
Regions at highest risk: GTA, Southwestern Ontario
Freezing temperature
A major concern with Ontario’s cold winters is ice damming. This happens when a layer of ice melts — from attic heat or freeze-thaw weather — allowing water to seep into the house or attic, causing costly damage. Ice damming is sometimes covered under basic home insurance policies, but always ask your provider to be sure. Freezing temperatures can also cause frozen pipes, which are also sometimes covered by basic home insurance policies, providing certain precautions have been taken (e.g. having someone check on your home every 24 hours if you’re away for an extended period during the winter).
Regions at highest risk: Northern Ontario has the harshest winters, but the entire province is at risk.
Earthquakes
While not common in Ontario, earthquakes do occasionally occur. The most recent one took place in 2010 and registered 5.0 on the Richter Scale. The resultant damage to the Ottawa region and parts of nearby Quebec was significant though not necessarily severe.
Most basic home insurance policies will not cover earthquakes; additional coverage is required. If you live in the Ottawa and North Bay regions of the province, we encourage you to seriously consider adding earthquake coverage to your home insurance policy.
Forest fires
While Ontario isn’t known for forest fires, the province still averages 1,000 major burns per year. As incidents of severe weather become more common across the country, it’s likely that forest fires will too. These aren’t your average house fires — each blaze could engulf the entire Greater Toronto Area. Luckily, most basic home insurance policies list fire as a covered peril. Regions at highest risk include Northeastern Ontario and Northern Ontario.
All your questions about home insurance in Ontario, answered
How can I find the cheapest home insurance quote in Ontario?
Comparison shopping is a crucial first step in lowering your home insurance costs. There’s a wide range of available prices so when you shop around for the best rate, you’re likely to find savings. We recommend that you compare rates every time your policy is up for renewal. Other easy ways to bring down your home insurance costs include bundling, increasing your deductible and installing security and carbon monoxide alarms.
If I list a portion of my house on Airbnb or Vrbo, do I need to inform my home insurance provider?
Yes, absolutely. If your home is being used as an income property, it’s important to get a policy that protects you as a landlord. You may also want to consider requiring any tenant – whether their short-term or longer-term – to get their own insurance as well.
While home insurance will protect you as a landlord, it will not extent to protection for a tenant, including their contents. If you file a home insurance claim for damage that took place when you were using your home for commercial purposes, a provider can deny coverage if they were unaware of how the property was being used.
Is my home replacement cost the same as its market value?
No. Home replacement cost is not the same as its market value. For instance, your home might cost $350,000 to rebuild in the event of a total loss, while being worth twice that on the market. An insurance company would therefore provide you with the former not the latter (aka $350,000). Replacement value is a major factor that insurance companies consider when determining your premium.
Some insurers will also offer an option to purchase an Actual Cash Value (ACV) home insurance policy, which is replacement value less depreciation. For instance, if the washing machine you need to replace is ten years old, your payout will be based on the estimated cost of purchasing a similar model (and similar aged) washing machine.
With ACV coverage, your premiums will be lower, but so will the payouts.
What companies offer the best home insurance in Ontario?
There are many companies offering home insurance in Ontario, each with their own unique underwriting standards, additional coverages, and pricing structures. While it’s hard to pinpoint what provider offers the ‘best’ home insurance, here are some of the province’s major players:
- Aviva Canada.
- CAA Home Insurance
- Desjardins Home Insurance.
- Johnson Home Insurance.
- RBC Home 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.
Home insurance news
Home Insurance Read the Story
HomesHow to sell your condo in Canada
KEY FINDINGS Condo buyers evaluate more than the unit itself. Prepare to answer questions from intereste...
*More than 50% of LowestRates.ca users in Ontario who obtained a home insurance quote from January to December 2025 saw savings ranging from $150 to $650, with an average savings of $352.84. The average savings amount represents the difference between the users’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca.