1What Ontario households spend on home insurance
There is no official Toronto figure. Statistics Canada's Survey of Household Spending shows Ontario households spent an average of $1,047 on homeowners' insurance in 2023, up from $704 in 2015. That average includes renters, who pay nothing for it, so a typical owner pays more.
Prices are still moving: Statistics Canada's Consumer Price Index for homeowners' home and mortgage insurance in Ontario rose 4.1% in 2025 and 4.2% in the 12 months to September 2026. See how Ontario compares in our home insurance rates by province comparison.
2Basement flooding is Toronto's defining risk
Two of the costliest insured weather events in Toronto's history were flash floods. In July 2024, flooding in Toronto and southern Ontario caused an estimated $991 million in insured losses, according to CatIQ — the tenth-costliest insured catastrophe in Canada's history, ranked just behind the July 2013 Toronto flood. About three-quarters of the 2024 losses were personal property.
Most of that damage is water coming up through basement drains. Sewer backup is not part of a standard home policy; it is an optional coverage with its own limit and deductible, and overland water from outside is a separate option again. Our guide to basement flooding and insurance explains which coverage pays for which kind of water.
3The City's basement flooding subsidy
The City of Toronto's Basement Flooding Protection Subsidy Program pays part of the cost of flood-protection work. For work completed on or after November 12, 2025, it covers up to 80% of the invoice, to a maximum of $1,600 per backwater valve (up to two), $2,250 for a sump pump and $300 for sump pump backup power. Check the City's page for the current terms before you book the work.
A backwater valve and sump pump reduce the chance of a sewer backup claim, and insurers often ask about them when pricing the coverage. Keep the invoice and the inspection record.
4Rebuilding costs nearly doubled
Your dwelling limit should match what it would cost to rebuild the house. Statistics Canada's building construction price index for Toronto rose about 94% for single-detached houses between 2020 and 2025 — the largest increase of the major cities in the index. A limit set a few years ago may now be well short of a rebuild.
Insurers usually raise the dwelling limit at renewal to keep pace, which is one reason a renewal can go up more than the published price indexes. Ask for the replacement cost to be recalculated after any renovation or addition.
5Older houses and their systems
Many Toronto houses are decades old. Insurers look at the age and type of the wiring, plumbing, roof and heating: knob-and-tube wiring, galvanized or lead pipes, or an old oil tank can change the price, require updates, or mean a broker reviews the file first. Keep dates and receipts for every update. See insuring older and heritage homes.
6If you own a condo instead
A Toronto condo is insured differently: the corporation insures the building and you insure your unit, improvements, belongings and liability, plus your share of the corporation's deductible. Our separate guide to condo insurance in Toronto covers it.
7Getting a price for a Toronto house
BlueCouch is a licensed Canadian insurance brokerage. For a house in Ontario you can answer the quote questions online; a BlueCouch broker then follows up with you and goes over sewer backup and overland water coverage. You can also call (855) 316-3237.
Frequently Asked Questions
There is no official city figure. Ontario households spent an average of $1,047 on homeowners' insurance in 2023 (Statistics Canada), an average that includes renters, so a typical owner pays more. A Toronto house's price depends on its rebuilding cost, age, flood risk and the coverage you choose.
Only with the right add-on. Water backing up through drains needs sewer backup coverage; water entering from outside needs overland water coverage. Neither is part of a standard policy.
It lowers the chance of a sewer backup claim, and many insurers ask about one when pricing that coverage. The City of Toronto's subsidy pays up to 80% of the cost, to $1,600 per valve, for work completed on or after November 12, 2025.
Two common reasons are higher prices and a higher dwelling limit. Statistics Canada's index for building a single-detached house in Toronto rose about 94% from 2020 to 2025, so insurers raise limits to keep pace with rebuilding costs.
Start your Ontario home insurance quote online — a licensed BlueCouch broker follows up with you.
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