The Best Home Insurance Quotes in Ottawa

The average lowest home insurance quote a RATESDOTCA user in Ottawa receives is $1,404 a year, or $117 per month. This is 9% higher than the provincial average of $1,283, or $11 more per month.

While these averages offer a glimpse at typical home insurance prices in Ottawa, keep in mind that the cost of a house insurance policy depends primarily on the home and person being insured, not the city in which the property is located. Factors like the age of the building, the materials used for its construction and the homeowner’s claims history will go much farther in determining the cost of a policy than a postal code.

There is no single home insurance company that offers the cheapest rate for every property in Ottawa. When it comes to home insurance, each company assesses risks differently. This means that the company that gave your friend the lowest rate might not give you the lowest rate. The only way to find which company offers the cheapest insurance for your home is to comparison shop before choosing a policy.

Homes in Ottawa face varying degrees of risk from several environmental factors, such as:

• Severe thunderstorms: Thunderstorms in Ottawa can sometimes be severe, causing torrential rainfall, hail, and lightning, all of which can heavily damage the exterior of your home.
• Strong winds: Similar to the other cities in Ontario, Ottawa faces the risk of property damage from winds of over 100km/h. Strong winds can damage your roof, windows and other structural parts of your home.
• Earthquakes: Ottawa is located in region classified as a moderate seismic hazard. Damage from earthquakes can range from minimal to severe, making it important for homeowners to have earthquake coverage. Most insurers do not include earthquake coverage in standard policies, so protection requires an additional fee.
• Overland water: The city of Ottawa is situated on the Ottawa River, which increases the risk of flash floods in the event of heavy rainfall or excessive melting snow. Flash floods can cause overland water to spill into your home’s vents and basement, causing water damage. Make sure you look for this coverage in your policy.
• Burst pipes: During harsh winters, temperatures in Ottawa can drop as low as -30C. Such low temperatures can increase the risk of water damage from burst pipes.

Home insurance providers in Ottawa will not cover every peril under a standard policy. In fact, some of the most common perils, such as flooding and earthquakes, may require extra coverage.

Earthquake coverage, additional liability coverage and overland water coverage, are the most common add-ons that you can choose to add to your policy. To be sure you understand what your policy excludes, consult a representative from your insurance provider.

On average, Ottawa homeowners pay 9% more than residents of other Ontario cities. But that doesn’t mean you’re stuck with high premiums. There are things you can do that will help reduce the cost of a house insurance policy in Ottawa.

Here’s how you can lower your home insurance premium:

• Bundle auto and home: Most insurance companies incentivize clients to bundle multiple insurance policies together. Most commonly, this means your home and auto insurance coverages. Bundling policies usually nets you a discount in the range of 15% for both products.
• Get claims forgiveness or a no claims discount: If you’ve never filed a home insurance claim, ask whether your provider will reward you with a discount. If you have filed a claim in the past, see if you can find a policy that offers claims forgiveness.
• Increase your deductible: The higher your deductible, the lower your premium. The downside to raising your deductible is that you’ll pay more out of pocket if you make a claim. Most insurers in Ottawa will allow you to choose $500, $1500 or $2000 as your policy deductible.
• Track your upgrades: It’s assumed that older homes pose greater risk to insurance companies. If you’ve renovated, replaced the roof, updated the wiring or performed any other such maintenance, let your insurance provider know. Depending on the nature of your renovation, you may be able to reduce your monthly premium.
• Increase security: Having a security system minimizes the risk of theft, directly lowering your home insurance premium.
• Install a backwater valve: A backwater valve will prevent sewage from flowing into your basement in the event your main sewer line becomes overloaded. This will reduce not only your water damage risk, but also your insurance premium.