No government body or insurance regulator publishes an average home insurance premium in Canada, so every “average” you see comes from a private survey. The figures below are from one such survey, attributed and dated. Location drives the price, and within one province the premium moves with rebuild cost, the age of the home and its claims history. For what a policy actually covers, see the guide to home insurance in Canada.
Average home insurance quotes by province
According to MyChoice’s Home Insurance Outlook for 2026 (published September 24, 2026), which draws on quotes in its own database, the average annual home insurance quote in January 2026 was $1,343 nationally, 4.01% higher than a year earlier. By province:
| Province | Average annual quote | Monthly equivalent | Change from January 2025 |
|---|---|---|---|
| British Columbia | $2,253 | $188 | -1.20% |
| Alberta | $2,283 | $190 | 9.29% |
| Saskatchewan | $1,347 | $112 | 4.66% |
| Manitoba | $1,167 | $97 | 6.29% |
| Ontario | $1,458 | $122 | 2.47% |
| Quebec | $1,284 | $107 | 3.97% |
| New Brunswick | $970 | $81 | 8.36% |
| Nova Scotia | $1,034 | $86 | 12.12% |
| Prince Edward Island | $894 | $75 | 8.78% |
| Newfoundland and Labrador | $937 | $78 | 8.87% |
| Canada | $1,343 | $112 | 4.01% |
Source: MyChoice, Home Insurance Outlook for 2026, September 24, 2026. These are quotes offered to people shopping on MyChoice, not premiums actually paid, and they are not a quote for your home. Alberta’s average quote, $2,283, was 2.6 times Prince Edward Island’s. Each provincial guide explains what moves prices within that province, for example the Alberta home insurance guide on hail and the BC home insurance guide on earthquake coverage.
Alberta’s catastrophe losses
Alberta’s premiums reflect a run of very large catastrophe losses. According to the Insurance Bureau of Canada (IBC), the June 2013 southern Alberta floods caused about $1.6 billion in insured losses, the 2016 Fort McMurray wildfire about $3.75 billion, and the August 2024 Calgary hailstorm about $3.25 billion. Calgary’s home insurance page lists the major hailstorms.
Home type and home value
The survey above does not break premiums down by type of home or home value, and no official source does either, so this page doesn’t give dollar ranges for them. The direction is clear, though:
- Condo units cost less to insure than houses, because the condo corporation’s master policy covers the building and the owner insures contents, improvements and liability. The condo insurance guide explains what the unit owner still needs.
- Renters insure only their belongings and liability; the tenant insurance guide covers how that works.
- Home value matters through the rebuild cost, not the sale price. Insurers price the cost to rebuild the house, which excludes the land, so two homes with the same market value can carry quite different premiums if one sits on an expensive lot.
Factors that raise or lower your premium
The Insurance Bureau of Canada lists the main factors insurers use to set home insurance rates.
Location and the home itself
| Factor | Effect |
|---|---|
| Neighbourhood claims history | Insurers track the number, type and cost of claims by neighbourhood |
| Distance to a fire hall and hydrant | Homes farther from fire protection cost more |
| Rebuild cost | The larger the dwelling limit, the higher the premium |
| Roof age and condition | An old roof raises the premium; reinforced or updated roofing can lower it |
| Wiring and plumbing | Knob-and-tube or aluminum wiring and galvanized steel or lead pipes raise the premium |
| Wood stoves and fireplaces | Add fire risk if not properly installed or maintained |
| Pools, home businesses, rental units | Add risk, and must be disclosed to the insurer |
You and your policy
| Factor | Effect |
|---|---|
| Claims history | Past claims are one of the best predictors of future claims, so they raise the price |
| Deductible | A larger deductible lowers the premium |
| Endorsements | Overland water, sewer backup and earthquake coverage add to the price |
Discounts
The Insurance Bureau of Canada lists these ways to lower a home insurance premium. How large each discount is varies by insurer, so compare quotes rather than relying on a typical percentage:
- Bundling home and auto insurance with one insurer
- A claims-free history
- Being mortgage-free
- Age 55 or over, and being a non-smoker, with some insurers
- Burglar alarms, reinforced roofing, sewer backwater valves, storm shutters and sump pumps
- Upgraded electrical, heating and plumbing systems
- Paying the premium annually to avoid instalment fees
Upgrades that earn a lower rate are covered in home renovations that lower your insurance premium. Shopping around is the simplest saving of all, because insurers price the same home differently. The best home insurance companies in Canada guide compares the main insurers.
How the deductible changes the premium
A larger deductible cuts the premium each year but moves more of every claim onto you, so the saving only helps if the deductible could be paid from savings. The size of the saving differs between insurers, so asking for quotes at two deductible levels shows what it is worth for your home. The insurance deductibles explainer works through the trade-off.
How claims affect future premiums
Because insurers use past claims to predict future ones, a claim can raise the premium at renewal. How much a claim adds, and for how long it counts, varies by insurer. That is why many homeowners pay small losses themselves when the payout would be close to the deductible.
Special situations that change the price
- Older homes. Knob-and-tube or aluminum wiring, galvanized or lead plumbing and an old roof lead to higher premiums, and updating them can bring the price down.
- Home-based businesses. A business run from home must be disclosed to the insurer, and client visits, business equipment or inventory usually need a home business endorsement or a commercial policy, which adds to the cost.
- Breakdowns. A furnace, water heater or appliance that fails from mechanical breakdown or age is excluded from home insurance; a home warranty is the product built for that, at its own cost.
- Cottages and second homes. Homes left empty for long periods face vacancy conditions in the policy, and renting a property out, including short-term, has to be disclosed to the insurer and may need added coverage.