Higher urban density, water damage claims
Estimated Monthly Premium
$96
per month
Annual Premium
$1,154
Coverage Breakdown
This is an estimate. A broker can find coverage tailored to your specific home.
Get Quotes NowBundle home + auto insurance
15-25% discount
The most common way to save. Combining your home and auto policies with one insurer typically yields the biggest discount.
Install a monitored alarm system
5-15% discount
A ULC-listed alarm system connected to a monitoring station can significantly reduce your premium.
Increase your deductible
10-25% savings
Raising your deductible from $500 to $2,500 can reduce premiums substantially. Make sure you can afford the deductible if you claim.
Claims-free discount
5-15% discount
Many insurers reward customers who go multiple years without filing a claim with a loyalty or claims-free discount.
New home discount
Up to 25% discount
Newer homes (built within the last 10 years) typically qualify for lower premiums due to modern building codes and materials.
Upgrade electrical and plumbing
5-10% savings
Replacing knob-and-tube wiring, upgrading to copper or PEX plumbing, and updating your electrical panel can lower rates.
| Province | Avg Annual | Avg Monthly | Key Risk |
|---|---|---|---|
| Ontario (You) | $1,350 | $113 | Higher urban density, water damage claims |
| Quebec | $1,100 | $92 | Lower rates, but sewer backup claims rising |
| British Columbia | $1,600 | $133 | Highest rates due to earthquake risk and wildfires |
| Alberta | $1,500 | $125 | High hail risk increases premiums significantly |
| Manitoba | $1,200 | $100 | Moderate rates, flooding risk in some areas |
| Saskatchewan | $1,250 | $104 | Moderate rates with hail risk |
| Nova Scotia | $1,050 | $88 | Lower rates, hurricane risk in coastal areas |
| New Brunswick | $1,000 | $83 | Among the lowest rates in Canada |
| Newfoundland and Labrador | $1,150 | $96 | Moderate rates with harsh weather |
| Prince Edward Island | $950 | $79 | Lowest rates in Canada |
Disclaimer
This calculator provides rough estimates for educational purposes only. Actual home insurance premiums depend on many factors including your exact location, construction materials, proximity to water, claims history details, and your specific insurer's underwriting criteria. Always get quotes from licensed brokers or insurers for accurate pricing.
Standard home insurance in Canada covers your dwelling (the structure), personal property (contents), additional living expenses if you need to move out during repairs, and personal liability. Most policies also include specific perils like fire, theft, windstorm, and hail. You may need additional coverage for floods, earthquakes, and sewer backup.
British Columbia faces high earthquake risk and increasing wildfire threats, driving up premiums. Alberta experiences frequent hailstorms, especially in the Calgary corridor, which generate billions in claims annually. Both provinces have seen significant rate increases in recent years.
Replacement cost coverage pays to rebuild or replace damaged property at current prices without deducting for depreciation. Actual cash value (ACV) deducts depreciation, meaning you receive less for older items. Replacement cost coverage costs more but provides significantly better protection.
Your dwelling coverage should equal the full replacement cost of your home (not market value, which includes land). Contents coverage is typically 70% of dwelling coverage. Most policies include $1-2 million in personal liability. Consider your specific needs and valuable items that may need scheduling.