Save on Ottawa home insurance by comparing rates from top Canadian insurance companies
Find the best home insurance rates in Ottawa
KBD is a Canadian, family-run home insurance broker with 40+ years of experience.
We offer Ottawa residents cottage, seasonal dwelling and homeowners insurance at the best rates.
Comparing rates from top Canadian insurance companies to find you the best price on Ottawa home insurance
Ottawa home insurance products we provide
Fire insurance
Subject to a deductible, all of our Ottawa home insurance policies include coverage from fire-related damage.
Water and flood insurance
These are some of the most common claims we see, so make sure you’re covered in your home insurance policy. This coverage is subject to a deductible.
Liability insurance
We’ll set you up with liability insurance to ensure that you and the members of your household are covered in the event that someone causes third-party damage.
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Home insurance Ottawa – FAQs
How much is house insurance in Ottawa, Ontario?
The average home insurance cost in Ottawa is $700 – $2000 per year, but the number varies a fair bit on a case by case basis.
This is because your home insurance premium is determined based on the value of your building multiplied by a set rate, and several other factors.
Here are a few things that can affect your home insurance in Ottawa:
- Neighbourhood: Some neighbourhoods have higher crime rates than others, so there’s a higher probability of theft, break-ins, and vandalism.
- Age of your home: Older homes tend to need more updating, and can also have structure and foundation issues that can bring in bigger insurance claims. Homes that are built out of materials that are more flammable will also have higher insurance premiums.
- Type of plumbing, piping, heating and stoves: The risk of accidents increases depending on how your house is built. So these factors affect your overall home insurance rate in Ontario.
- If you have a swimming pool or hot tub: These can be a liability if someone is injured, so they increase your insurance premium.
- Natural disasters: If you live somewhere that’s prone to severe weather or flooding, it can increase your home insurance premium. So if you’re house hunting, it’s a good thing to keep in mind if you want cheap home insurance in Ottawa.
- Your credit score: In Ontario and the city of Ottawa, home insurance companies can use your credit score as a metric to decide your rate. So, it’s best to keep that credit score as close to 850 as you can.
Looking for an Ottawa home insurance broker? Give us a call.
How much does house insurance go up after a claim in Ottawa?
It’s a big range. Your home insurance payments can be hiked up anywhere from less than 15% up to 40% after filing a claim.
We recommend saving your claim for the big dollars (amounts significantly higher than your deductible), because making small claims can increase your premium.
This is because frequent claims can affect your insurance peril score – which is basically the amount of risk that your profile has.
Like everything with insurance, premiums and rate increases are determined on a case by case basis.
Give us a call and we’ll help find the best home insurance rate for you.
What insurance risks are specific to Ottawa?
Knowing about location-specific risks can help you to avoid high premiums on home insurance.
That’s why working with a broker who knows your city and the specs of your home can be so helpful.
For example: Homes located near the Ottawa river can have issues with flooding. And while it’s not very common, earthquakes have occurred in and around Ottawa too.
So for this reason, it’s a good idea to research the neighbourhood you live in or plan on moving to, and to consider the risks of a particular home (how it’s built, etc.).
That way you can prep your insurance coverage for all possibilities.
In some cases you can even renovate your house so that it has less risk in order to get the cheapest home insurance premium possible.
The best way to know what changes would be the most helpful is by speaking with one of our brokers to get a proper assessment of your home.
Chat with the KBD Ottawa insurance broker team today.
What are some mistakes to avoid when making a home insurance claim?
Having to make a home insurance claim sucks. But it sucks less if you know what to do.
That’s why you should know what to look out for beforehand to ensure that you get the best payout possible.
Mistakes to avoid when making a home insurance claim:
- Not having the right coverage: Don’t assume that your policy covers you for everything. It pays to double-check. If your insurance plan doesn’t cover you in a specific circumstance, you’re out of luck. So make sure to ask your broker exactly what you’re covered for, and that it aligns with what you need for your home.
- Not documenting damages: If you remove damage before it’s documented, you might have a tough time trying to claim it.
- Filing small claims: Some people think that their insurance is there for any accident, but making small claims can indirectly increase your insurance premium. It’s best to only file claims for damages that are much higher than you deductible.
- Not having an inventory of your assets: When it comes to home insurance, it’s a good idea to have a running list of your assets and their value. It can make the claims process go much more smoothly.
- Not working with a broker: An insurance broker can make your life much easier when you’re trying to make a home insurance claim after a crisis. They’ll take on the negotiating for you if there’s a dispute while you focus on more important things.
Who has the best home insurance rates in Ontario?
Honest (but annoying) answer? There’s no one-size-fits-all solution when it comes to home insurance.
It really comes down to finding the company with the best home insurance rates and coverage for you and your home.
So for example, someone with a $2M property in Orléans will have a much different home insurance rate than someone with a $400k condo in downtown Ottawa.
Plus, just like with any business, insurance companies intermittently offer discounts. But when the market goes up (which can be due to a variety of factors), so do their prices.
That’s why it pays to have a broker who can shop around and update you when a better insurance price comes up, so that you can always be on top of what the best rate is for you.
Looking for home insurance quotes in Ottawa? Give us a call.
Is house insurance mandatory in Ontario?
Nope, it’s not mandatory by law. BUT if you have a mortgage or a line of credit attached to your home, the lender will require you to carry home insurance.
Plus, it’s just better to have the peace of mind of not paying out of pocket if something goes wrong.
Ready for a quote on your Ottawa house insurance? Call us.
Why is home insurance so expensive in Ontario?
Just like everything else, the Ontario home insurance market fluctuates based on what’s going on in the economy.
In the last couple of years, inflation and supply-chain demand on things like lumber have increased home insurance prices.
Basically, it’s more expensive to rebuild homes in 2022, so insurance premiums have gone up too.
When the market changes, prices can go down in real terms (adjusted for inflation).
Sometimes it’s just a waiting game – but that’s why it’s good to work with a broker on your home insurance policy. They can update you when there’s an opportunity to get a better price.
Questions about home insurance for your Ottawa house? Give us a call.
How does the area you live in affect your home insurance?
The area that you live in is a big factor when home insurance companies decide on your rate.
So if you’re in the market for a new home, or you’re moving to a new city, choose your neighbourhood wisely.
Insurance companies lose money any time they have to pay out a claim, so homeowners with higher risk properties generally pay higher rates.
This can include being in areas with high crime rates, frequent severe weather, flooding, etc.
You can chat with one of our Ottawa insurance brokers to get an assessment of your home, and for a custom quote on your house insurance premium.
How to choose the right insurance company for me in Ottawa?
If you want to avoid reading through boring insurance documents, the easiest way is to get a broker to match you up with the best home insurance company for you.
A broker’s job is to shop around and compare rates to find you the best coverage at the best price (so that you don’t have to).
For example, KBD works with Intact Insurance and Economical, two top Canadian insurance companies, to provide home insurance policies to our clients.
But if you want to know the ins and outs of the insurance company that you’re with, we recommend considering the following:
- How long they’ve been in business: Research the company’s history to see how established they are and what their payout rate on claims has been.
- Their financial standing: This will affect whether or not the insurance company is able to provide coverage.
- If they offer discounts: Saving money on your insurance premium is never a bad idea. Find out whether a particular insurance company offers discounts through bundling policies, etc.
- The coverage they provide: Does it match up with what your home needs?
If you have any questions about choosing the best home insurance company for you, give us a call.
What home insurance coverage should Ottawa homeowners get?
There are three types of coverage that we recommend to Ottawa homeowners. These are liability, property, and common additional coverages.
They cover you in the following scenarios:
- Liability coverages: Covers you if someone is injured on your property, or if you damage someone else’s property.
- Property coverages: Covers the content inside your home, damages on your house and other structures, as well as costs related to having to live elsewhere due to an accident.
- Common additional coverages: Includes coverage on things like overland water, sewer backup, lock replacement, earthquake coverage, and more. These are each separate coverage options.
Give our Ottawa insurance brokers a call and we’ll help you find the right home insurance.
How much is homeowners insurance on a $300,000 house?
Keep in mind that the real estate market value of your home isn’t the same as the rebuild cost of your home – and that’s what’s going to affect your homeowners insurance rate.
Currently, the average monthly home insurance cost is $75 for homes in Canada valued between $100k and $700k.
Rebuild costs are affected by factors including:
- Cost of materials at the time of rebuild
- Cost of labour involved
- Removal of the old structure
So for better or for worse, the cost of these things is going to affect your home insurance rate more than the current market value of your home.
How much is house insurance in Ottawa, Ontario?
The average home insurance cost in Ottawa is $700 – $2000 per year, but the number varies a fair bit on a case by case basis.
This is because your home insurance premium is determined based on the value of your building multiplied by a set rate, and several other factors.
Here are a few things that can affect your home insurance in Ottawa:
- Neighbourhood: Some neighbourhoods have higher crime rates than others, so there’s a higher probability of theft, break-ins, and vandalism.
- Age of your home: Older homes tend to need more updating, and can also have structure and foundation issues that can bring in bigger insurance claims. Homes that are built out of materials that are more flammable will also have higher insurance premiums.
- Type of plumbing, piping, heating and stoves: The risk of accidents increases depending on how your house is built. So these factors affect your overall home insurance rate in Ontario.
- If you have a swimming pool or hot tub: These can be a liability if someone is injured, so they increase your insurance premium.
- Natural disasters: If you live somewhere that’s prone to severe weather or flooding, it can increase your home insurance premium. So if you’re house hunting, it’s a good thing to keep in mind if you want cheap home insurance in Ottawa.
- Your credit score: In Ontario and the city of Ottawa, home insurance companies can use your credit score as a metric to decide your rate. So, it’s best to keep that credit score as close to 850 as you can.
Looking for an Ottawa home insurance broker? Give us a call.
Why is home insurance so expensive in Ontario?
Just like everything else, the Ontario home insurance market fluctuates based on what’s going on in the economy.
In the last couple of years, inflation and supply-chain demand on things like lumber have increased home insurance prices.
Basically, it’s more expensive to rebuild homes in 2022, so insurance premiums have gone up too.
When the market changes, prices can go down in real terms (adjusted for inflation).
Sometimes it’s just a waiting game – but that’s why it’s good to work with a broker on your home insurance policy. They can update you when there’s an opportunity to get a better price.
Questions about home insurance for your Ottawa house? Give us a call.
How much does house insurance go up after a claim in Ottawa?
It’s a big range. Your home insurance payments can be hiked up anywhere from less than 15% up to 40% after filing a claim.
We recommend saving your claim for the big dollars (amounts significantly higher than your deductible), because making small claims can increase your premium.
This is because frequent claims can affect your insurance peril score – which is basically the amount of risk that your profile has.
Like everything with insurance, premiums and rate increases are determined on a case by case basis.
Give us a call and we’ll help find the best home insurance rate for you.
How does the area you live in affect your home insurance?
The area that you live in is a big factor when home insurance companies decide on your rate.
So if you’re in the market for a new home, or you’re moving to a new city, choose your neighbourhood wisely.
Insurance companies lose money any time they have to pay out a claim, so homeowners with higher risk properties generally pay higher rates.
This can include being in areas with high crime rates, frequent severe weather, flooding, etc.
You can chat with one of our Ottawa insurance brokers to get an assessment of your home, and for a custom quote on your house insurance premium.
What insurance risks are specific to Ottawa?
Knowing about location-specific risks can help you to avoid high premiums on home insurance.
That’s why working with a broker who knows your city and the specs of your home can be so helpful.
For example: Homes located near the Ottawa river can have issues with flooding. And while it’s not very common, earthquakes have occurred in and around Ottawa too.
So for this reason, it’s a good idea to research the neighbourhood you live in or plan on moving to, and to consider the risks of a particular home (how it’s built, etc.).
That way you can prep your insurance coverage for all possibilities.
In some cases you can even renovate your house so that it has less risk in order to get the cheapest home insurance premium possible.
The best way to know what changes would be the most helpful is by speaking with one of our brokers to get a proper assessment of your home.
Chat with the KBD Ottawa insurance broker team today.
How to choose the right insurance company for me in Ottawa?
If you want to avoid reading through boring insurance documents, the easiest way is to get a broker to match you up with the best home insurance company for you.
A broker’s job is to shop around and compare rates to find you the best coverage at the best price (so that you don’t have to).
For example, KBD works with Intact Insurance and Economical, two top Canadian insurance companies, to provide home insurance policies to our clients.
But if you want to know the ins and outs of the insurance company that you’re with, we recommend considering the following:
- How long they’ve been in business: Research the company’s history to see how established they are and what their payout rate on claims has been.
- Their financial standing: This will affect whether or not the insurance company is able to provide coverage.
- If they offer discounts: Saving money on your insurance premium is never a bad idea. Find out whether a particular insurance company offers discounts through bundling policies, etc.
- The coverage they provide: Does it match up with what your home needs?
If you have any questions about choosing the best home insurance company for you, give us a call.
What are some mistakes to avoid when making a home insurance claim?
Having to make a home insurance claim sucks. But it sucks less if you know what to do.
That’s why you should know what to look out for beforehand to ensure that you get the best payout possible.
Mistakes to avoid when making a home insurance claim:
- Not having the right coverage: Don’t assume that your policy covers you for everything. It pays to double-check. If your insurance plan doesn’t cover you in a specific circumstance, you’re out of luck. So make sure to ask your broker exactly what you’re covered for, and that it aligns with what you need for your home.
- Not documenting damages: If you remove damage before it’s documented, you might have a tough time trying to claim it.
- Filing small claims: Some people think that their insurance is there for any accident, but making small claims can indirectly increase your insurance premium. It’s best to only file claims for damages that are much higher than you deductible.
- Not having an inventory of your assets: When it comes to home insurance, it’s a good idea to have a running list of your assets and their value. It can make the claims process go much more smoothly.
- Not working with a broker: An insurance broker can make your life much easier when you’re trying to make a home insurance claim after a crisis. They’ll take on the negotiating for you if there’s a dispute while you focus on more important things.
What home insurance coverage should Ottawa homeowners get?
There are three types of coverage that we recommend to Ottawa homeowners. These are liability, property, and common additional coverages.
They cover you in the following scenarios:
- Liability coverages: Covers you if someone is injured on your property, or if you damage someone else’s property.
- Property coverages: Covers the content inside your home, damages on your house and other structures, as well as costs related to having to live elsewhere due to an accident.
- Common additional coverages: Includes coverage on things like overland water, sewer backup, lock replacement, earthquake coverage, and more. These are each separate coverage options.
Give our Ottawa insurance brokers a call and we’ll help you find the right home insurance.
Who has the best home insurance rates in Ontario?
Honest (but annoying) answer? There’s no one-size-fits-all solution when it comes to home insurance.
It really comes down to finding the company with the best home insurance rates and coverage for you and your home.
So for example, someone with a $2M property in Orléans will have a much different home insurance rate than someone with a $400k condo in downtown Ottawa.
Plus, just like with any business, insurance companies intermittently offer discounts. But when the market goes up (which can be due to a variety of factors), so do their prices.
That’s why it pays to have a broker who can shop around and update you when a better insurance price comes up, so that you can always be on top of what the best rate is for you.
Looking for home insurance quotes in Ottawa? Give us a call.
How much is homeowners insurance on a $300,000 house?
Keep in mind that the real estate market value of your home isn’t the same as the rebuild cost of your home – and that’s what’s going to affect your homeowners insurance rate.
Currently, the average monthly home insurance cost is $75 for homes in Canada valued between $100k and $700k.
Rebuild costs are affected by factors including:
- Cost of materials at the time of rebuild
- Cost of labour involved
- Removal of the old structure
So for better or for worse, the cost of these things is going to affect your home insurance rate more than the current market value of your home.
Is house insurance mandatory in Ontario?
Nope, it’s not mandatory by law. BUT if you have a mortgage or a line of credit attached to your home, the lender will require you to carry home insurance.
Plus, it’s just better to have the peace of mind of not paying out of pocket if something goes wrong.
Ready for a quote on your Ottawa house insurance? Call us.