Why Ontario Home Insurance Premiums Are Rising
Ontario home insurance premiums are rising, and flood risk is a major reason. Recent data shows premiums increased by 26% in Ajax, with Markham, Brockville, and Burlington also posting large jumps.
This trend is tied to stronger flood exposure and more severe weather losses. In the Wahi and MyChoice study, Ajax had the highest flood risk score at 4.6 out of 5. Markham followed with a 22% increase, while Brockville rose 21% and Burlington rose 20%.
How Flood Risk Impacts Your Ontario Home Insurance Coverage
Flood risk matters because it can affect both price and coverage. Insurers may respond to higher claim potential by raising premiums, adjusting deductibles, or reviewing water damage coverage more closely. As a result, homeowners in higher-risk areas may face more pressure at renewal.
At AiA Insurance Brokers, we help homeowners reduce that pressure with a clear policy review. We can check whether your home has enough protection for flood damage, sewer backup, and water damage. We can also compare options from multiple insurers so you can see what coverage fits your property and budget.
Practical Steps to Lower Your Risk and Protect Your Property
There are also practical steps you can take to reduce damage before a claim ever happens. Clean gutters and eavestroughs, extend downspouts away from the foundation, and make sure the ground slopes away from your home. In addition, inspect your sump pump and backwater valve, seal foundation cracks, and keep basement valuables and documents stored higher up.
These steps matter because damage prevention can support your overall risk profile. Lower risk can help limit loss, and in some cases it may improve how an insurer views your property. Just as importantly, it gives you more control before the next storm arrives.
If you live in a flood-prone part of Ontario, now is a good time to review your Ontario Home Insurance Premiums coverage with AIA Insurance Brokers. A policy check can help you spot gaps early and prepare your home for severe weather.
Citations:
- https://wahi.com/ca/en/learning-centre/real-estate-101/buy/2026-ontario-housing-market-flood-risks-report/
- https://www.theglobeandmail.com/investing/personal-finance/article-flood-risk-driving-ontario-home-insurance-prices-up/
- https://www.theglobeandmail.com/business/article-home-insurers-extreme-weather-coverage/
- https://www.hydroone.com/saving-money-and-energy/residential/tips-and-tools/flood-prevention
- https://www.floodsmart.gov/prepare/minimize-damage
- https://fortifiedhome.org/article/solutions-to-the-changing-insurance-landscape/
- https://www.floodsmart.gov/prepare/minimize-damage
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