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Why Your Manitoba Home Insurance Deserves a Second Look This Spring

Personal InsuranceHome InsuranceSeasonal Property Insurance

Manitoba Premiums Are Rising — Here's Why

After a devastating 2025 wildfire season that destroyed over 130 properties across the province and forced more than 32,000 Manitobans from their homes, insurers are recalibrating. According to a University of Waterloo expert, homeowners and cabin owners across Manitoba should expect higher premiums in 2026 — along with new coverage caps, exclusions, or in some cases, limited options altogether.

Manitoba saw the second-highest increase in home insurance rates in Canada in 2025, and that trend is continuing into this year. Rising construction costs, skilled labour shortages, and record-breaking weather events are all pushing premiums upward.

This isn't just a number on your renewal notice. It's a signal that your coverage deserves a real conversation — not just an automatic renewal.

The Risk of "Set It and Forget It" Insurance

One of the most common mistakes homeowners make? Renewing their policy year after year without reviewing what's actually covered.

We've seen it firsthand. A Manitoba couple who lost their cabin in the Lac du Bonnet wildfire discovered they didn't have enough contents insurance to replace what was lost — and their maximum insured value hadn't kept pace with the 50% increase in rebuild costs since they first built in 2019. They had to approach five different insurers before finding one willing to take them on.

The lesson: your policy needs to grow with your property's value. What was sufficient coverage three years ago may leave a significant gap today.

What You Should Be Asking About Your Policy Right Now

Whether you own a home in Winnipeg, a property in Steinbach, or a cabin somewhere in between, here are the questions worth asking before your next renewal:

• Is my insured value keeping up with today's rebuild costs? Construction costs have risen significantly — your coverage limit should reflect that.

• What's excluded from my policy? Flooding, and other weather-related events may have new limitations or exclusions.

• Am I being automatically renewed without a review? If so, you may be missing out on better options or leaving coverage gaps unaddressed.

• Are there other carriers that could offer me better coverage or rates? Manitoba has many insurance providers, and shopping the market can make a real difference.

This Is Exactly What a Local Broker Does Best

At Fast Insurance, we don't just process renewals — we review them. With access to a wide network of insurance markets, including Aviva, Intact, Wawanesa, Portage Mutual, Red River Mutual, Max Insurance, Sandbox, SGI and more, we can shop your coverage to find the right fit at a competitive price.

More importantly, we take the time to understand your situation. If your home's value has changed, if you've done renovations, or if you're simply not sure what your policy actually covers — that's a conversation we want to have with you.

Life has enough uncertainty. Your insurance shouldn't add to it.

Ready for a Policy Review?

If your renewal is coming up — or even if it isn't — spring is a great time to make sure your coverage still makes sense. Reach out to the Fast Insurance team in Winnipeg or Steinbach, and let's take a look together.