The Best Home Insurance Quotes in London

What risks do homeowners face in London?

Severe weather and flooding are some of the biggest risks homeowners in London are facing in 2025.

The summer floods of 2024 cost Ontario $1 billion in insured losses, according to the Insurance Bureau of Canada (IBC). Most of these floods occurred in the GTA and parts of southern Ontario.

The grander trend across the province is that home insurance premiums are rising, rapidly, and severe weather is one of the biggest culprits. According to Applied Rating Index, personal property lines in Ontario saw a 5.7% increase in premium rate change year over year in Q1 2025. Throughout 2024, the rate change fluctuated between 13% and 9%. For context, this percentage used to hover around 1% in the early 2020s.

‘Flooding plays a significant role in influencing premiums, especially in areas with higher water-related risks,’ says Rates.ca insurance expert Daniel Ivans. ‘Some data we're working on shows that in regions prone to flooding, water coverage costs make up 10% of the premiums.’

Why are London homeowners paying more than other major Ontario cities?

Given that severe weather affects most of the province, you might be wondering: why do London homeowner pay more than the other big cities in the province? London has always been more affected by severe weather than many other parts of Ontario, especially southern parts, like the Greater Toronto Area (GTA) or even Ottawa.

Here are some of the more specific risks that London homeowners face:

• Floods: Rain and flooding have become a problem for London residents. Last summer, a small township (practically a suburb of London) declared a state of emergency as a result of flooding. Flood alerts have also been issued in the area last year, increasing risks for London homeowners.
• Snowfalls: Snowfalls are known to cause roof damage, particularly when snow accumulates over time. It can lead to water seepage as well as ice dams – ice build-up in the eaves, caused by melting snow. This year London saw a blizzard that has put significant pressure on its infrastructure and homes.
• Freezing temperatures: Winter temperatures in London can sometimes get very low. This increases the potential for burst and frozen pipes.
• Crime rates: According to Canada’s Crime Severity Index (CSI) report, London has one of the higher CSIs in the province (for both violent and non-violent crimes), ranking above Barrie, Guelph and St. Catharines, all of which, incidentally, have lower home insurance premiums. More crimes, especially break-ins, theft and vandalism, usually result in more expensive premiums.

The takeaway: In combination, these factors can all add up to higher premiums. However, it’s worth noting that your FSA could play an even bigger role in determining your premium than the actual city. More on that below.

See our Home Insuramap methodology.

Choosing the right home insurance policy in London

If you own a home in London, you’re not required by law to have insurance. However, most lenders in Ontario won’t provide a mortgage unless your home is covered by insurance. That's why most homeowners still need a policy. It's also worth buying it even if you already own your home, since it's likely still the biggest asset in your possession.

The question is, what kind of policy do you need? And more importantly, what kind of protections actually exist for your home? We dive into all of that below, where you can find a full breakdown of what a home insurance policy can offer:

Types of home insurance in London

There are four major home insurance types, which differ mainly by the amount of coverage they offer and by price. As you might expect, more coverage means higher costs – and vice versa.

• Named perils: Sometimes referred to as ‘basic,’ this is the cheapest type of coverage you can purchase. However, it offers a very limited amount of protection. It protects your property and its contents only against the perils named in the policy. So, if theft, for example, is not listed, then your home is not protected from it.
• Broad form: This is a more comprehensive policy that protects things not necessarily named in your policy. For example, if theft is not listed, then the property is protected from it. Note that when it comes to your possessions, they are only protected from the perils named in the policy, same way as they would be under the basic coverage.
• Comprehensive: Also known as ‘all perils,’ this is your most comprehensive coverage. It protects both your property and possessions from all perils, other than a few named exclusions. If, for instance, overland flooding is named as an exclusion, then you’re not covered for it. This is the most expensive type of home insurance you can purchase in London. Even so, you will not be covered for everything, and you should talk to your provider about what things are excluded so you can make an informed decision.

Who gets covered

• Spouse and relatives: Your policy should cover your spouse and anyone related to either them or you, provided they reside in your home.
• Dependents: Home insurance should protect any dependents under the age of 21 who are students. They may be living in your primary home or temporarily away from it (e.g., college dormitory).

What gets covered

Regardless of whether you go with basic, broad or comprehensive coverage, it must cover these three things:

• Property and dwelling: This should include all the structures on your property, such as the home itself, garage and other buildings on the property. The covered perils will depend on your policy – whether it’s basic, broad or comprehensive. But not all structures are necessarily covered. Consult with your insurer to make sure they are to avoid issues later.
• Contents and personal property: This entails your personal belongings, such as furniture, electronics, home decor, clothing and so on. Higher-end items like artwork, jewelry and collectibles may require policy add-ons to be fully protected. They are not necessarily part of the normal list of contents. Evaluate everything you own and consult your insurer to see if all your items are covered.

Standard home insurance coverage in London

Whether you opt for a named perils, broad form or comprehensive home insurance policy, it should cover the following:

Additional Living Expenses (ALE) coverage

Should you become temporarily displaced due to an insurable peril, this will cover the cost of your living expenses. For example, if you’re forced to live in a hotel while your home is being reconstructed or renovated after an accident, your insurer may pay for your room, travel and groceries for the duration of your displacement (or up to a certain amount). Certain things like groceries or travel will be covered but only if they exceed your normal expense rates.

Here’s what ALE covers:

• Out-of-pocket expenses: If forced to temporarily move out, your insurance could cover expenses like accommodation, food, moving, laundry, transit, pet boarding and storage.
• Fair rental value: If you’re renting out a part of your home (such as a room or a basement) and your tenant is forced to move out due to a covered incident, your insurance could cover the loss of your rental income.
• Prohibited access: If your home becomes inaccessible due to an unexpected incident, such as a government-mandated evacuation order or a threat to your life, your insurance could cover you.

Liability coverage

Your liability coverage should encompass the following:

• Personal liability: This will protect you if someone gets accidentally injured on your property. The coverage amount can range from $100,000 to $5,000,000, depending on how much you’re willing to pay in premiums.
• Voluntary medical payments: If you unintentionally injure someone on your property, this will pay for the medical expenses for up to a year – from the date of the injury. Your coverage can be as low as $1,000 or as high as $10,000. Find out how voluntary medical payments differ from personal liability coverage.
• Voluntary property damage: If you (or someone in your care under 12 years) cause unintentional loss or damage to someone’s property (such as your neighbour’s), then this will cover the costs. The coverage can be between $500 and $6,000. Find out what scenarios warrant voluntary property damage coverage.

Commonly covered perils

Commonly covered perils in London – whether you choose basic, broad or comprehensive coverage – will usually include these:

• Fire: No matter what causes the fire, your insurance company will cover the costs of replacing, rebuilding or repairing your property and recovering your belongings.
• Smoke: If smoke damages your property, you'll receive coverage. However, the smoke has to have come from a malfunctioning cooking or heating device, not your fireplace.
• Lightning or electrical current: Should lightning strike your property, it could damage the wiring in your walls as well as break your appliances and electronics. This will pay for repairing or replacing whatever ends up damaged. Any other electrical current could do the same (and is also usually covered).
• Explosion: Should your property get damaged or destroyed by an explosion, you will receive coverage.
• Riot: If a riot that takes place near your property causes damage to it, your insurance will pay for the necessary repairs or replacement.
• Theft and vandalism: If your home happens to get robbed, this will pay for the replacement of the stolen items. The same applies if the home gets vandalized. Again, it’s important to evaluate your possessions so you are properly covered for all contents.
• Transportation: If your personal property, such as a laptop, gets damaged while temporarily away from your home, then its repairs or replacement will be covered. This applies to fixtures or fitting that are being repaired or in seasonal storage.
• Water damage: This pays for the damage to your property and belongings caused by water leakage from indoor plumbing, heating, air conditioning, sprinklers and similar appliances inside or outside your house. Certain things, however, are not covered. Most coverages usually exclude sewer back-up and overland flooding, so be sure to confirm what is and isn’t covered with your insurer.
• Hail and wind: Should wind or hail damage your property or belongings in any way, this will pay for them. This includes damage from flying debris as well as falling trees and branches (if caused specifically by hail or wind).
• Aircraft or vehicle impact: If an aircraft or another moving vehicle hits your property and damages or destroys it, you will get coverage. 
• Window breakage: This coverage applies only to homes that are occupied. If your home is vacant (meaning it's unoccupied for more than a month), then this coverage could be void. You'd need vacant home insurance to rectify that.
• Falling objects: This protects your property and belongings from falling objects, including space debris and space craft. There are exceptions, however, such as objects moved by landslides or snowslides. Confirm with your provider what is and isn’t covered.

Add-ons to home insurance coverage in London

You can increase your standard home insurance in London with additional coverage – commonly known as ‘add-ons,’ ‘riders’ or ‘endorsements.’ Here’s what usually gets sold in addition to the standard coverage (varies from insurer to insurer):

• Overland water:  If your home gets flooded due to overflowing water from a river, stream, lake, thawing snow or another body of water, this add-on will protect you. In the last few years, London has become very vulnerable to floods caused by melting snow, storms and rainwater – with the worst of it occurring in 2018 – so this coverage might be useful to have. Get more tips on flood insurance here.
• Sewer back-up: This type of flooding occurs due to backed up sewage pipes, toilets, drains or showers. Such back-ups happen when too much rainwater or melted snow enters the sewer system at once.
• Earthquake: This endorsement will protect your home and possessions from damage due to an earthquake, landslide, snowslide or volcanic eruption. Earthquakes are rare in London and Southern Ontario, as are the other three perils in this category, so it’s unlikely that you’ll need this endorsement.
• Mass evacuation: Should a major peril like flooding or wildfires lead to mass evacuations, this will cover your accommodations and food, while you’re away from home.
• Identity theft: Identity theft coverage covers the cost of replacing important personal identification, such as your driver's license and passport, when lost, stolen, or misused.
• Lock replacement: This add-on covers the cost of replacing your house locks if damaged.
• Personal valuables: Most home insurance policies do not cover items that are of high value, like art or jewelry. Do an inventory of all your possessions and assign monetary value to them. Then talk to your provider to find out if you need extra coverage.
• Home sharing: If you’re looking to rent out your property, this will provide you with the additional property and liability coverage you need to stay protected.
• Personal umbrella: If you’re worried that your standard liability coverage isn’t enough (e.g., if your lawsuit costs you more than expected), this add-on can make up the difference.

What is not covered by London home insurance

Home insurance in London is effective and necessary but will not cover all events. Certain perils are always excluded – usually because they are both predictable and preventable. Here’s what they are:

• Absence from the home: Damage that takes place while you’re away from the home for an extended period of time.
• Alterations: A homeowner will only be protected against damage to a property that occurs during an alteration to it if they have received written permission from the insurance provider to undertake the alteration. However, common repairs such as painting or fixing a broken railing are not subject to this exclusion.
• Bylaw enforcement: You are not likely to be covered for costs stemming from the application or enforcement of a bylaw.
• Damage from renters: Most insurance providers require specific coverage for landlords. A standard home insurance policy is unlikely to protect you if a renter damages the property.
• Mold: Since mold occurs slowly due to pre-existing conditions, such as extreme humidity, there is usually enough time for you to prevent it. Home insurance providers expect you to maintain your home and will not cover you for neglected home problems.
• Pest infestations: Like mold, pest infestations, including mice, bedbugs, cockroaches and termites, are also a maintenance concern. So, if they cause any damage, it’s highly unlikely that your home insurance will cover it. That’s why, as soon as you notice an infestation, you should contact the appropriate service to help you resolve the issue (this service shouldn’t be your insurer).
• Volatile substance: If you have more than one gallon of a volatile substance on your property and a fire or explosion takes place, you may be denied coverage. This is likely to include gasoline.
• Purposeful damage: If you purposely damage your own property or its contents and file a claim for it, you will not be covered. This is, in fact, considered to be insurance fraud, so don’t do it (though you are welcome to damage your own property).
• Intentional injuries to guests: If you intentionally hurt a guest in your own home, your liability coverage will not protect you. And no, there isn’t an add-on for this either. So, don’t purposely hurt your guests.
• Existing damage: You’re unlikely to be covered for damage that began before you held the policy.