Homeownership is one of the biggest investments you will make in your lifetime. Protecting that investment with reliable home insurance is crucial, but it can be expensive, especially as costs increase year after year. The good news is that many insurers in Canada offer long-term discounts that reward policyholders for staying with them over time. These discounts can lead to significant savings on premiums while still ensuring robust coverage.

In this detailed guide, we will explore the 12 best home insurance providers with long-term discounts in Canada. You will learn about each insurer’s coverage options, discount structures, and customer benefits so you can choose the right policy for your needs. We will also share tips for maximizing savings and answer the most frequently asked questions about Canadian home insurance.

Why Long-Term Discounts Matter in Home Insurance

When you purchase home insurance, the premium you pay is based on factors such as your property’s value, location, risk level, and claims history. These premiums often increase over time, making it essential to find ways to save.

Long-term discounts are offered by many Canadian insurers to reward loyal customers. These discounts:

  • Lower your annual premiums the longer you stay with the same insurer.

  • Encourage policy renewals, which can help you maintain consistent coverage.

  • Often combine with other savings opportunities like claims-free discounts or multi-policy bundles.

  • Provide financial relief for long-term homeowners who want stable, predictable insurance costs.

What to Look for in Home Insurance Providers with Long-Term Discounts in Canada

When comparing home insurance companies in Canada, here are key features to consider:

  1. Discount percentage and duration: Look for providers that increase discounts with each year you remain a customer.

  2. Coverage options: Ensure the policy covers your building, personal belongings, liability, and additional living expenses.

  3. Flexibility in plans: Customizable coverage allows you to pay only for what you need.

  4. Claims service: A company with a good reputation for handling claims quickly and fairly is essential.

  5. Additional savings opportunities: Bundling with auto insurance, security system discounts, and claims-free savings can further reduce costs.

  6. Financial strength and reputation: Choose a stable, well-reviewed company you can trust for long-term protection.

Summary Table: 12 Best Home Insurance Providers with Long-Term Discounts in Canada

Insurance Provider Average Annual Premium (Detached Home) Long-Term Discount Details Other Key Features
Intact Insurance $1,200–$1,900 Up to 20% discount after 5+ years Flexible coverage, strong claims service
Aviva Canada $1,100–$1,800 15–20% loyalty discounts Optional coverage for water and sewer backups
TD Insurance $1,150–$1,850 Up to 15% after 3 years Multi-policy and claims-free savings available
Desjardins Insurance $1,100–$1,750 Up to 20% long-term customer discount Mobile app for easy policy management
Economical Insurance $1,100–$1,800 10–15% for renewals beyond 5 years Customizable add-ons and water damage protection
The Co-operators $1,150–$1,900 Gradual discount increases over 5 years Strong focus on sustainability and local agents
RSA Canada (now Definity) $1,150–$1,850 Up to 15% loyalty savings Good for heritage and older homes
Sonnet Insurance $1,200–$1,850 Up to 10% loyalty discount Fully digital platform for quotes and renewals
Wawanesa Insurance $1,150–$1,800 15–20% discount after 5+ years Excellent customer service and claims reputation
Allstate Canada $1,200–$1,900 Gradual discount up to 15% “Claim-Free Bonus” and accident forgiveness
Belairdirect $1,150–$1,850 10–15% loyalty savings Easy-to-use mobile app and personalized pricing
CAA Insurance $1,100–$1,750 Up to 15% long-term member discount Extra benefits for CAA members (roadside and home)

Premiums are estimates for detached homes and vary by province, location, and property value.

Detailed Reviews: 12 Best Home Insurance Providers with Long-Term Discounts in Canada

1. Intact Insurance

Intact Insurance is the largest home insurance provider in Canada and a top choice for homeowners seeking long-term discounts.

  • Discount details: Earn up to 20% off premiums after 5 years of continuous coverage.

  • Coverage options: Building, contents, liability, and optional extras like earthquake coverage.

  • Why it stands out: Intact is known for excellent customer service and fast claims processing, making it ideal for homeowners who value reliability.

2. Aviva Canada

Aviva offers strong loyalty programs and customizable coverage plans.

  • Discount details: Long-term discounts of 15–20% are available after staying with Aviva for multiple renewals.

  • Coverage options: Standard home insurance plus optional water, sewer backup, and identity theft protection.

  • Best for: Homeowners who want flexibility and additional coverage options.

3. TD Insurance

TD Insurance is a popular choice for Canadians who want to bundle home and auto policies.

  • Discount details: Up to 15% discount after 3 years of continuous coverage.

  • Coverage options: Comprehensive protection for homes and condos, plus optional green home add-ons.

  • Why it’s ideal: TD’s loyalty savings combine with bundling discounts, leading to significant long-term savings.

4. Desjardins Insurance

Desjardins has a strong reputation for customer service and loyalty perks.

  • Discount details: Long-term customers can receive up to 20% off premiums.

  • Coverage options: Standard home insurance and optional water damage and earthquake coverage.

  • Best for: Homeowners who prefer to manage policies via a user-friendly mobile app.

5. Economical Insurance

Economical offers traditional insurance policies with competitive loyalty discounts.

  • Discount details: 10–15% savings after 5+ years of continuous coverage.

  • Coverage options: Includes standard protection plus optional extras like sewer backup and overland water coverage.

  • Standout feature: Great for homeowners who want the ability to customize their coverage.

6. The Co-operators

The Co-operators is a trusted name with a strong community presence in Canada.

  • Discount details: Gradual discounts that increase over 5 years.

  • Coverage options: Protects your home, personal property, and liability, with optional eco-friendly rebuild coverage.

  • Why it’s unique: The Co-operators focuses on sustainability and supporting local communities.

7. RSA Canada (Definity)

RSA Canada, now part of Definity, offers home insurance tailored for older and heritage properties.

  • Discount details: Up to 15% loyalty savings after multiple renewals.

  • Coverage options: Broad coverage with optional extras for unique homes.

  • Best for: Owners of heritage or custom-built homes who want specialized coverage.

8. Sonnet Insurance

Sonnet is a fully digital insurer offering fast quotes and loyalty rewards.

  • Discount details: Up to 10% discount for long-term customers.

  • Coverage options: Standard home insurance with easy online customization.

  • Why it’s great: Perfect for tech-savvy homeowners who want a simple online experience.

9. Wawanesa Insurance

Wawanesa is one of Canada’s most customer-focused insurers.

  • Discount details: Earn 15–20% off premiums after 5 years.

  • Coverage options: Home, condo, and tenant insurance with optional add-ons.

  • Strengths: Wawanesa is highly rated for claims service and member satisfaction.

10. Allstate Canada

Allstate offers a mix of loyalty and claims-free discounts.

  • Discount details: Gradual discounts up to 15% for long-term policyholders.

  • Coverage options: Home insurance with optional identity theft protection and accident forgiveness.

  • Best for: Families who want comprehensive coverage and added perks.

11. Belairdirect

Belairdirect provides personalized home insurance pricing with competitive discounts.

  • Discount details: 10–15% loyalty savings for continuous coverage.

  • Coverage options: Broad protection with water damage and home-sharing add-ons.

  • Unique feature: Easy-to-use mobile app for managing your policy and filing claims.

12. CAA Insurance

CAA Insurance rewards loyalty and membership.

  • Discount details: Up to 15% long-term member discount.

  • Coverage options: Home, condo, and tenant insurance with additional benefits for CAA members.

  • Why it’s ideal: If you are already a CAA member, you can combine roadside assistance and home coverage for maximum value.

Tips to Maximize Long-Term Discounts on Home Insurance in Canada

  1. Stay with the same provider: Loyalty savings only apply if you remain continuously insured with the same company.

  2. Bundle your policies: Combining home and auto insurance can lead to extra savings.

  3. Avoid small claims: A claims-free record helps you qualify for both loyalty and claims-free discounts.

  4. Install security features: Alarm systems and smoke detectors can further lower premiums.

  5. Review your policy annually: Ensure your coverage is still suitable for your property and lifestyle.

FAQs: Home Insurance with Long-Term Discounts in Canada

1. How much can I save with long-term discounts?

Savings vary by provider but can range from 10–20% off annual premiums after several years.

2. Do long-term discounts apply to all types of homes?

Yes, most insurers offer these discounts for detached homes, condos, and rental properties.

3. Can I lose my discount if I file a claim?

Some insurers reduce loyalty discounts if you file multiple claims. Ask your provider about their specific policies.

4. Are loyalty discounts automatic?

Yes, in most cases they are automatically applied at renewal, but confirm with your insurer.

5. Can I switch providers and still get discounts?

No, long-term discounts are tied to continuous coverage with the same company.

6. Which provider has the largest discount?

Intact Insurance, Desjardins, and Wawanesa offer discounts of up to 20% after 5 years.

7. Are there provincial differences in eligibility?

Discount amounts may vary by province due to differences in regulations and risk factors.

8. Can renters get long-term discounts?

Yes, many insurers extend loyalty discounts to tenant insurance as well.

9. What happens if I miss a payment?

Missing payments can cause a lapse in coverage, which may reset your loyalty discount eligibility.

10. Should I prioritize long-term discounts over cheaper initial premiums?

If you plan to stay in your home for several years, long-term discounts can lead to bigger savings over time.

Conclusion

Finding the right home insurance provider is not just about initial cost. Choosing one of the 12 best home insurance providers with long-term discounts in Canada can save you thousands of dollars over the life of your policy.

Companies like Intact Insurance, Desjardins, Wawanesa, and Aviva offer the most generous loyalty rewards. But the right choice will depend on your home, location, and desired coverage.

Start by requesting quotes from at least three providers, compare their long-term discount structures, and consider bundling policies for additional savings.