Affordable Home Insurance in Ottawa

Several parts of Ottawa are closer to bodies of water or even located in flood zones. If your neighbourhood is located in a flood-prone area (especially after the winter), you may get higher home insurance quotes.

Simply put, the more insurance claims that have been filed in your neighbourhood in Ottawa, the higher your home insurance quotes. This is because your home insurer may consider you more likely to file a claim as well, increasing expenses due to claim payouts and administrative costs.

In 2022, it was reported that Ottawa’s crime rates have risen at least 25% above pre-pandemic levels, with violent crimes like assaults and break-ins increasing by 14%. If you live in a neighbourhood with a greater incidence of crimes, your home insurance quotes will likely be higher.

41.7% of Ottawa’s occupied dwellings are single-detached houses. 21.4% are row houses, while 18.9% are apartments in buildings with five or more storeys.

63.9% of Ottawa residents own their private households, according to a 25% sample size of 407,250 households. 36.1% of these households are rented homes. From this sample size, the overwhelming majority occupy dwellings that are not condominiums (83.9%), while only 16.1% live in a condominium in Ottawa.

Nearly a third of Ottawa dwellings were constructed between 1961 to 1980 (28.3%), while 15.5% of Ottawa homes were built from 1981 to 1990. New homes are fewer in this city, with 7.7% of homes constructed between 2016 to 2021 and 7% constructed between 2011 to 2015.

Most Ottawa homes are in good condition, with 94.6% needing only regular maintenance and minor repairs. Only 5.4% of Ottawa homes need major repairs.

If your home was damaged due to criminal activity, it won’t be covered by your insurance policy.

Generally, home insurance companies require specific coverage for homeowners/landlords who plan to rent out their properties. A standard home insurance policy won’t include coverage if you rent your home out and the tenant causes damage.

Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Damage or losses caused by poor home upkeep (e.g., clogged storm drains, broken bannisters) won’t be covered, as your insurer deems it your responsibility to manage wear and tear.

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home businesses will need separate home-based business insurance to cover home or equipment damage.

Because this is considered a preventable risk, most insurers don’t cover insect damage.

These are separate expenses handled by policy owners as they’re unrelated to your home insurance policy.

Mould caused by poor home maintenance is typically excluded by home insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Many insurers may void your insurance if you leave your home vacant for a prolonged period.

Unexpected events like a fire or earthquake can cause serious damage or even the loss of your home and belongings. By filing a claim on a home insurance policy, you’ll have funds to help you cover the steep costs of repairs or restoration.

Some accidents can’t be helped, resulting in damage to your property or injury to someone in your home. Home insurance covers costs related to your liability as a homeowner in these circumstances, such as potential legal fees, repair bills, and replacement expenses.

Usually, a bank or other lending institution may require you to get home insurance as part of your mortgage. Because they have a financial interest in protecting your house, a home insurance policy will reassure them that your home is covered from potential risks.