Quote data from MyChoice.ca, October 2024
What Risks Affect Homeowners in Pembroke?
Many things can cause home damage. Here are common risks to watch out for as a homeowner in Pembroke:
How Much Does Home Insurance in Pembroke Usually Cost?
Home insurance in Pembroke costs around $1,027 annually. Home insurance premiums are affected by factors like your home’s age, roofing type, proximity to fire hydrants, and more.
Using your home as a place of business may also influence your home insurance rates. Using your home for business means more people coming in and out of your property, increasing your liability and risk of losing belongings.
Quote data from MyChoice.ca, October 2024
Housing Data in Pembroke
With its low crime rate and excellent amenities, Pembroke is one of the best places to live in the Ottawa Valley. It also has varied recreational activities that range from white water rafting to snowmobile tours. While Pembroke exudes that small-town charm, it’s still relatively close to Ottawa, which is just 90 minutes away by car.
Planning a move to Pembroke? Check out the city’s housing statistics to learn more about the area. Here’s a look at essential residential data in Pembroke from the 2021 Census of Population:
Homeownership Rate by Age in Pembroke
Homeownership in Pembroke is quite comparable to other small, rural cities in Ontario. There is an impressive 24.5% of residents aged 15 to 24 who are homeowners in Pembroke. The older age groups are more or less in line with other similar cities.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 24.5% |
| 25 to 39 | 48.5% |
| 40 to 54 | 57.8% |
| 55 to 74 | 63.7% |
| 75 and over | 64.4% |
Pembroke Population Growth
Pembroke’s population increased steadily from 13,882 to 14,364 people between 2016 and 2021, which indicates a growth rate of roughly 3.5% across the five years.
What Is Not Included in a Typical Home Insurance Policy?
Even if you’ve opted for a highly comprehensive home insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by home insurers.
Here are the most common home insurance exclusions:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Pembroke. Talk to your home insurance provider to see what’s covered by your policy in case of loss or damage.
Why Do I Need Home Insurance in Pembroke?
Home insurance isn’t legally required in Pembroke. That said, having a policy is still a good idea. Home insurance protects you from unforeseen events that cause costly damages. Instead of paying to fix it out of pocket, your policy can lighten the financial load. Here’s a quick look at the reasons why you should get home insurance in Pembroke:
How You Can Get Cheap Home Insurance in Pembroke
If you’re trying to save money on your preferred home insurance coverage in Pembroke, visit our Ontario page for practical tips.