25 Newfoundland and Labrador Homeowners Insurance Statistics for 2026: Premiums, Market Share and Weather Losses
Newfoundland and Labrador homeowners insurance in 25 cited statistics: Superintendent personal property premiums 2014-2023, StatsCan CPI changes, Intact and Co-operators market share, and IBC catastrophe losses including the Kingston wildfire.
Newfoundland and Labrador homeowners buy coverage from private insurers in a market the provincial Superintendent measures through personal property written premiums, while Statistics Canada tracks how fast home insurance prices rise relative to inflation. This report gathers 25 cited statistics on what homeowners insurance looks like in the province: how large the personal property book is, who writes it, how CPI for home insurance has moved, and how recent catastrophe losses show up in national and provincial data. Every figure comes from the Newfoundland and Labrador Superintendent of Insurance Statistical Report for 2023, Statistics Canada, or the Insurance Bureau of Canada (IBC). Neither the Superintendent nor StatsCan publishes a dollar average premium for NL home insurance, so we do not invent one.
Key Takeaways
- Personal property premiums reached $302 million in 2023 - the Superintendent reports $302,044,000 of Newfoundland and Labrador property personal insurance written premium in 2023.
- That book nearly doubled since 2014 - personal property premiums rose from $154.3 million in 2014 to $302.0 million in 2023, about 95.7% over nine years (our calculation).
- NL home insurance CPI rose 19.9% from December 2020 to December 2025 - below Canada’s 38.6% five-year increase on the same StatsCan homeowners insurance CPI series.
- Intact companies and Co-operators dominate verified share - Intact Insurance plus Novex held 29.37% of 2023 personal property written premium; Co-operators General held 16.42%.
- Canada’s 2024 catastrophe claims hit $8.6 billion - Statistics Canada’s Daily release puts 2024 CAT claims at $8.6 billion, the costliest year on that series.
- The 2025 Kingston wildfire topped $70 million in insured losses - IBC reported over $70 million of insured property damage from the Conception Bay North fire.
How large the Newfoundland and Labrador market is
1. Insurers wrote $302.0 million of personal property premium in 2023
Table 2.5A of the Superintendent’s 2023 Statistical Report lists Newfoundland and Labrador property personal insurance premiums of $302,044,000 for 2023. Personal property is the Superintendent’s published personal-lines property aggregate; it is the closest official provincial book-size measure available and is not labeled as an average premium per homeowner policy.
2. Personal property premium was $277.7 million in 2022
The same table shows $277,699,000 for 2022, so 2023 premium was about 8.8% higher (our calculation). Year-to-year growth can reflect rate changes, more insured homes and higher insured values together.
3. Personal property premium nearly doubled from 2014 to 2023
Premiums rose from $154,317,000 in 2014 to $302,044,000 in 2023, a 95.7% increase over nine years (our calculation on the Superintendent series).
Data
| 2014 | $154 |
|---|---|
| 2015 | $166 |
| 2016 | $178 |
| 2017 | $188 |
| 2018 | $203 |
| 2019 | $221 |
| 2020 | $240 |
| 2021 | $258 |
| 2022 | $278 |
| 2023 | $302 |
4. Commercial property added another $183.0 million in 2023
Table 2.5B lists property commercial insurance premiums of $182,967,000 in 2023. Personal property was 62.3% of the combined personal-plus-commercial property total (our calculation).
5. All P&C lines wrote $1.22 billion of direct premium in 2023
Table 1.2 shows Newfoundland and Labrador property and casualty direct premiums written of $1,218,139,000 in 2023, up 7.3% from $1,135,321,000 in 2022. Personal property is one line inside that broader P&C total.
6. There is still no official NL average home premium in dollars
The Superintendent publishes aggregate premiums, not an average premium per owner-occupied home. Statistics Canada publishes CPI percentage changes for homeowners’ home and mortgage insurance, not a provincial dollar average. We therefore do not invent an “average NL home insurance cost.” For quote drivers, see Newfoundland and Labrador homeowners insurance cost.
How fast home insurance prices have risen
7. NL home insurance CPI rose 19.9% from December 2020 to December 2025
Statistics Canada’s study table shows Newfoundland and Labrador homeowners’ home and mortgage insurance consumer prices up 19.9% over that five-year window.
8. Canada’s five-year increase was 38.6%
The Canada row in the same table is 38.6% from December 2020 to December 2025, so NL’s five-year CPI rise sat below the national figure.
9. From December 2019 to December 2025, Canada home insurance CPI rose 45.0%
Over the six-year window featured in the study abstract, homeowners’ home and mortgage insurance prices rose 45.0% nationally, more than double the 21.0% rise in the all-items Consumer Price Index.
10. Passenger vehicle insurance rose 23.9% over the same six years
Auto insurance CPI rose 23.9% from December 2019 to December 2025, still above all-items inflation but well below the homeowners insurance CPI increase.
11. NL’s 20-year home insurance CPI rise was 137.3%
From December 2005 to December 2025, Newfoundland and Labrador’s homeowners insurance CPI rose 137.3%, against 174.4% for Canada. Alberta led provinces at 391.6% over that long window.
12. Replacement cost pressure was 23.5% over five years nationally
The Statistics Canada study notes homeowner replacement costs rose 23.5% over the past five years, with pandemic-era building input prices as a major driver. Replacement cost feeds dwelling limits even when CPI is measured separately.
Who writes Newfoundland and Labrador personal property insurance
13. Unifund wrote $55.0 million of personal property premium in 2023
Unifund Assurance Company led single-company personal property written premiums at $54,975,000 (18.20% of the $302.0 million provincial total). Its licensed address in Table 1.3 is 10 Factory Lane, St. John’s.
14. Novex wrote $52.5 million (17.38%)
Novex Insurance Company, an Intact Financial core subsidiary on AM Best’s May 21, 2026 list, wrote $52,480,000.
15. Intact Insurance Company wrote $36.2 million (11.99%)
Intact Insurance Company wrote $36,224,000. Combined with Novex, Intact companies accounted for 29.37% of provincial personal property written premium (our calculation).
16. Co-operators General wrote $49.6 million (16.42%)
Co-operators General Insurance Company wrote $49,583,000, the largest co-operative writer in the table.
17. The four largest companies held about 64% of personal property premium
Unifund, Novex, Co-operators General and Intact Insurance Company together wrote about $193.3 million, or 63.98% of the 2023 personal property total (our calculation).
- Unifund 18%
- Novex 17%
- Co-operators 16%
- Intact Insurance 12%
- All other writers 36%
18. Aviva Insurance Company of Canada wrote 6.57%
Aviva Insurance Company of Canada wrote $19,830,000. Aviva General, Traders General and Elite add further personal property premium in the same report if you look at Aviva-family entities together.
19. Security National (TD) wrote 5.73%
Security National Insurance Company wrote $17,296,000. Primmum and TD Home and Auto appear as additional TD-related entities in Table 5.2.
20. Intact and Novex carry A+ (Superior) AM Best grades
AM Best affirmed Intact Insurance Company and Novex Insurance Company at A+ (Superior) on May 21, 2026, with a stable outlook. Co-operators General lists an A (Excellent) AM Best financial strength rating in its 2025 annual report.
Weather losses and what they mean for homeowners
21. Canadian catastrophe claims reached $8.6 billion in 2024
Statistics Canada’s Daily summary of the extreme-weather study puts 2024 catastrophic claims at $8.6 billion, above the previous $6.2 billion record associated with 2016. Each year from 2020 through 2025 ranked among the ten costliest years since tracking began in 1983.
22. Four events in 30 days drove about $7.0 billion of 2024 CAT losses
The study highlights a Calgary hailstorm ($3.0 billion), Jasper wildfire ($1.1 billion), Quebec flooding ($2.7 billion) and Ontario flooding ($990 million) inside a 30-day window in the third quarter of 2024.
23. Flood losses totaled about $9 billion over the last ten years
Statistics Canada reports roughly $9 billion paid for flooding over the past decade, with nearly half of that concentration in 2024. Overland flood is often optional on Canadian home policies.
24. The August 2025 Kingston wildfire caused over $70 million in insured NL losses
IBC reported CatIQ estimates of over $70 million in insured property losses from the Kingston wildfire that began August 3, 2025, affecting at least nine Conception Bay North communities and forcing about 3,000 people to evacuate. IBC called it the highest insured property loss event in Atlantic Canada that year.
25. Personal property claims pressure peaked in Q3 2024 nationally
Statistics Canada’s Daily notes a personal property claims ratio of 102.0% in the third quarter of 2024, with the overall P&C combined ratio at 90.9%. Home insurance is more exposed to extreme weather claims than auto insurance in that analysis.
How to read these numbers as a homeowner
Provincial written-premium totals tell you how large the insured book is, not what any one house costs to insure. A St. John’s row house, a Corner Brook bungalow and a Conception Bay South home rebuilt after a fire can sit in the same Superintendent aggregate while carrying very different premiums. Use the CPI series to understand direction (NL home insurance prices rose 19.9% over five years, slower than Canada’s 38.6%) and use carrier quotes to understand your price.
When you compare quotes, hold dwelling limit, deductible, liability limit and water endorsements constant. Intact, Co-operators, Aviva and TD Insurance all publish homeowners pages that list dwelling, contents, liability and living-expense themes, but the optional water packages differ. Ask each quote to state whether sewer backup and overland water are included or endorsed. After the Kingston wildfire, also confirm additional living expense limits and any wildfire underwriting questions your insurer asks about vegetation, roof covering and evacuation access.
City and province hubs on this site connect the blog cluster to converting geo templates: the Newfoundland and Labrador homeowners hub, St. John’s, Mount Pearl, Corner Brook, Paradise and Conception Bay South. Sibling Canadian paths that already converted leads include NWT Hay River homeowners, Nunavut renters and NL travel insurance. For carrier product detail, see best homeowners insurance companies in Newfoundland and Labrador and Newfoundland and Labrador homeowners insurance cost. National baselines remain in homeowners insurance statistics and homeowners insurance cost.
IBC’s consumer pages on how home insurance works remain the clearest plain-language overview of Canadian policy parts (dwelling, contents, liability, additional living expenses) without substituting for your own wording. The Superintendent’s annual statistical report is the authoritative provincial premium ledger; it is published by Digital Government and Service NL under insurance regulation at gov.nl.ca/gs/insurance.
Frequently Asked Questions
How much is homeowners insurance in Newfoundland and Labrador?
Neither the Superintendent nor Statistics Canada publishes a dollar average premium for NL home insurance. What they publish are aggregate personal property premiums ($302.0 million in 2023) and CPI percentage changes (NL +19.9% from December 2020 to December 2025). Your quote depends on rebuild cost, location, construction, deductibles and water endorsements.
Why have NL home insurance prices risen?
StatsCan links national home insurance CPI growth to extreme weather claims, higher rebuild costs and related pressures. NL’s own five-year CPI rise (19.9%) was below Canada’s 38.6%, but the provincial personal property premium book still nearly doubled from 2014 to 2023.
Who are the largest personal property insurers in NL?
By 2023 written premium: Unifund, Novex, Co-operators General and Intact Insurance Company. For product-page rankings, see best homeowners insurance companies in Newfoundland and Labrador.
Does NL homeowners insurance cover wildfire and flood?
Fire damage from wildfire is commonly addressed under fire perils when the loss is accidental and not excluded, which matches IBC consumer messaging after Kingston. Overland flood and sewer backup usually need specific water coverages. Read your wording.
Where can I compare NL homeowners cost and carriers?
Start with Newfoundland and Labrador homeowners insurance cost and the best NL homeowners companies listicle, then request a quote.
How we verified this page
Aggregate premiums and company written premiums come from the Newfoundland and Labrador Superintendent of Insurance Statistical Report for 2023. CPI changes and national catastrophe figures come from Statistics Canada’s June 2026 extreme-weather study and Daily release. The Kingston wildfire insured-loss figure comes from IBC’s September 17, 2025 release citing CatIQ. AM Best grades come from AM Best’s May 21, 2026 Intact affirmation and Co-operators’ 2025 annual report. Percent changes and shares are our calculations on published figures. We did not invent a provincial average premium or cite competitor comparison sites. See our methodology.
Important disclosures
Aggregates and CPI changes are not quotes. Official series blend many policies, coverage amounts and locations. Your premium depends on your property and the insurer’s underwriting.
About Insurance 8020. Insurance 8020 is an independent insurance comparison and education resource. We are not a licensed insurance producer, broker or agent, and nothing on this page is a recommendation to buy any specific policy. We may earn a referral fee when you request a quote through our partners, at no cost to you.