Ontario homeowners face rising costs of living, and home insurance premiums are no exception. Finding a provider that offers competitive rates and long-term discounts can help you save hundreds of dollars annually without compromising on coverage.
Long-term discounts reward homeowners for staying with the same insurer year after year. These discounts are especially valuable in Ontario, where premiums tend to be higher than in other provinces due to severe weather risks, water damage claims, and urban property values.
In this comprehensive guide, we review the 12 best home insurance providers with long-term discounts in Ontario. You’ll learn which companies offer the biggest savings, what their policies include, and tips to maximize discounts for your home.
Why Long-Term Discounts Are Valuable for Ontario Homeowners
Ontario home insurance premiums are some of the highest in Canada, averaging $1,500–$2,000 annually for a detached home. Rising claims from floods, windstorms, and fires have pushed costs higher.
Long-term discounts reward loyalty by lowering your premiums each year you remain with the same insurer. Benefits include:
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Significant cost savings: Discounts of up to 20% after 5 years with the same provider.
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Stability: Long-term customers often get better renewal rates.
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Bundled savings: Discounts can combine with other perks like auto-home bundles.
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Better service: Insurers value loyal clients and may offer enhanced claims assistance.
What to Look for in Ontario Home Insurance with Long-Term Discounts
When comparing insurers in Ontario, pay close attention to:
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Discount percentage and duration: Some companies start at 5% and grow to 20% over time.
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Coverage for Ontario-specific risks: Overland water and sewer backup coverage are essential.
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Claims process reputation: A quick, fair claims process matters, especially in disaster-prone areas.
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Customizable policies: Ensure you only pay for coverage you need.
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Other savings opportunities: Bundling with auto insurance or installing security features can increase discounts.
Summary Table: 12 Best Home Insurance Providers with Long-Term Discounts in Ontario
| Insurance Provider | Avg. Annual Premium (Detached Home in Ontario) | Long-Term Discount Details | Key Ontario Features |
|---|---|---|---|
| Intact Insurance | $1,400–$2,200 | Up to 20% discount after 5+ years | Strong water damage coverage and optional earthquake add-on |
| Aviva Canada | $1,350–$2,100 | 15–20% loyalty discounts | Flexible add-ons for sewer backup and identity theft |
| TD Insurance | $1,350–$2,050 | Up to 15% discount after 3 years | Special pricing for bundled auto and home insurance |
| Desjardins Insurance | $1,300–$2,000 | Up to 20% loyalty rewards | Mobile app for managing claims and payments |
| Economical Insurance | $1,350–$2,050 | 10–15% after 5 years | Great customization for Ontario flood-prone areas |
| The Co-operators | $1,350–$2,150 | Gradual increases up to 15–20% | Local agents available in Ontario communities |
| RSA Canada (Definity) | $1,350–$2,050 | Up to 15% loyalty discounts | Strong for heritage homes in Toronto and Ottawa |
| Sonnet Insurance | $1,400–$2,100 | Up to 10% loyalty discount | Fully digital platform with competitive Ontario pricing |
| Wawanesa Insurance | $1,350–$2,050 | 15–20% discount after 5+ years | Excellent customer reviews for Ontario claims handling |
| Allstate Canada | $1,400–$2,200 | Gradual discounts up to 15% | Includes accident forgiveness and claim-free bonuses |
| Belairdirect | $1,350–$2,100 | 10–15% loyalty discounts | Personalized pricing for Ontario homeowners |
| CAA Insurance | $1,300–$2,000 | Up to 15% loyalty discount | Exclusive extra perks for CAA members in Ontario |
Premiums are estimates for detached homes in Ontario and vary by city, property age, and location risk factors.
Detailed Reviews: 12 Best Home Insurance Providers with Long-Term Discounts in Ontario
1. Intact Insurance
Intact Insurance is Ontario’s largest home insurer and a strong choice for those seeking long-term savings.
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Long-term discounts: Up to 20% after 5 years of continuous coverage.
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Why it’s ideal for Ontario: Robust overland water and sewer backup options protect against common flooding issues.
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Average premium: $1,400–$2,200 annually.
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Extra benefits: Intact has one of the fastest claims handling teams in Ontario, which is important in weather-related disasters.
2. Aviva Canada
Aviva Canada offers excellent loyalty discounts and flexible policy options.
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Discounts: 15–20% loyalty savings after multiple renewals.
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Ontario-specific features: Offers identity theft coverage and comprehensive sewer backup protection, key for urban homeowners.
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Premiums: $1,350–$2,100 per year.
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Best for: Those who need add-ons for higher-value homes in Toronto, Ottawa, or Hamilton.
3. TD Insurance
TD Insurance provides consistent loyalty rewards and multi-policy savings.
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Discounts: Up to 15% after 3 years.
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Ontario focus: Special pricing for auto-home bundles makes it especially popular with drivers.
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Premiums: $1,350–$2,050 annually.
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Why it stands out: Strong online tools for Ontario homeowners to update coverage and track claims.
4. Desjardins Insurance
Desjardins is a reliable provider with robust coverage for Ontario homes.
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Discounts: Up to 20% long-term loyalty rewards.
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Ontario perks: App-based policy management and a wide agent network in Ontario communities.
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Premiums: $1,300–$2,000 per year.
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Best for: Homeowners who prefer easy mobile management and personalized service.
5. Economical Insurance
Economical Insurance offers flexible coverage that works well for flood-prone Ontario areas.
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Discounts: 10–15% after 5+ years of continuous coverage.
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Ontario features: Strong sewer backup and overland water protection options.
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Average premium: $1,350–$2,050.
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Why it’s ideal: Great for families who want custom protection at a fair price.
6. The Co-operators
A community-focused insurer with a strong presence in Ontario.
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Discounts: Gradual discounts up to 20% over several years.
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Ontario-specific focus: Local agents available in urban and rural areas for personalized support.
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Premiums: $1,350–$2,150 annually.
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Best for: Homeowners who prefer face-to-face interactions with knowledgeable agents.
7. RSA Canada (Definity)
RSA Canada, now Definity, is known for tailored policies for older Ontario homes.
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Discounts: Up to 15% loyalty rewards.
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Ontario focus: Excellent choice for heritage and custom-built homes in cities like Toronto and Ottawa.
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Premiums: $1,350–$2,050 annually.
8. Sonnet Insurance
Sonnet is an online-only insurer offering convenience and loyalty perks.
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Discounts: Up to 10% loyalty savings.
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Ontario benefits: Simple online tools for fast quotes and claims in Ontario markets.
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Premiums: $1,400–$2,100 annually.
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Best for: Tech-savvy homeowners who want a digital-first experience.
9. Wawanesa Insurance
Wawanesa is highly rated by Ontario homeowners for its claims service.
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Discounts: 15–20% after 5 years.
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Ontario-specific strengths: Strong coverage for common water-related claims in Ontario’s climate.
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Average premium: $1,350–$2,050.
10. Allstate Canada
Allstate offers competitive long-term and claims-free discounts.
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Discounts: Gradual discounts up to 15% for loyal Ontario customers.
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Ontario coverage: Extra perks like accident forgiveness and claim-free bonuses.
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Premiums: $1,400–$2,200 annually.
11. Belairdirect
Belairdirect provides personalized pricing for Ontario homeowners.
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Discounts: 10–15% loyalty savings.
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Unique for Ontario: Water damage protection and home-sharing add-ons available.
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Premiums: $1,350–$2,100 per year.
12. CAA Insurance
CAA Insurance rewards Ontario homeowners who are CAA members.
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Discounts: Up to 15% for long-term members.
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Ontario extras: Additional benefits for roadside assistance and bundled services.
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Premiums: $1,300–$2,000 annually.
Tips for Ontario Homeowners to Maximize Long-Term Discounts
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Stay continuously insured: Switching providers frequently resets your loyalty discounts.
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Bundle policies: Auto and home bundles can add 10–20% extra savings.
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Reduce small claims: Avoid filing minor claims to maintain your claims-free status.
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Install home security: Alarm systems and monitored smoke detectors can further reduce premiums.
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Compare Ontario-specific endorsements: Overland water coverage is essential in flood-prone regions.
FAQs: Home Insurance with Long-Term Discounts in Ontario
1. How much can I save with long-term discounts in Ontario?
You can save 10–20% off your annual premiums after several years with the same insurer.
2. Are Ontario home insurance premiums higher than other provinces?
Yes. Ontario has higher average premiums due to urban density, severe weather, and higher property values.
3. Can loyalty discounts combine with auto-home bundles?
Yes. Most Ontario insurers allow discounts to stack, maximizing your savings.
4. Do long-term discounts apply if I switch to a new property?
Yes, as long as you remain with the same insurer, even if you move within Ontario.
5. Which Ontario insurer offers the highest discount?
Intact Insurance, Desjardins, and Wawanesa typically offer up to 20% after 5 years.
6. Are there extra endorsements Ontario homeowners should consider?
Yes. Overland water and sewer backup coverage are highly recommended due to flooding risks.
7. Do condos and tenants qualify for loyalty discounts?
Yes, Ontario insurers extend these discounts to condo and tenant insurance policies.
8. What happens if I miss a premium payment?
Missing payments can reset your loyalty discount eligibility and even void your coverage.
9. Are digital insurers like Sonnet reliable for Ontario homes?
Yes. Digital insurers provide competitive rates and easy online management, but traditional insurers may offer more local support.
10. Is it worth switching providers for a lower premium?
If the savings outweigh the loss of your current loyalty discount, it may be worth switching. Compare carefully.
Conclusion
For Ontario homeowners, choosing one of the 12 best home insurance providers with long-term discounts can significantly reduce your annual premiums. Companies like Intact Insurance, Desjardins, Aviva, and Wawanesa reward loyal customers with discounts of up to 20% after 5 years.
To maximize savings, combine loyalty discounts with auto-home bundles, claims-free perks, and home security upgrades. Compare at least three quotes from the providers listed above and choose the one that offers the best blend of affordability, coverage, and customer service.