Home Insurance Ottawa: Rates, Quotes, Consumer Tips


Home Insurance Ottawa: Intro

Welcome to your Home Insurance Guide for Ottawa. This page will give you an idea of Home Insurance Premiums in Ontario, will inform about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Ottawa.

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What Are Typical Home Insurance Premiums In Ontario?


This chart illustrates the average Renters and Homeowners Insurance premiums in Ontario and other provinces including Home Insurance in Ottawa. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.

Overall consumers spend in Ontario less on Home Insurance than in Alberta and British Columbia. That is the case due to more stable natural conditions e.g. lack of strong seismic activity like British Columbia or flooding similar to Calgary. Nevertheless the recent years demonstrated that nature can be also unfriendly in Ontario including flooding and ice storm. These were very significant natural impacted people’s homes and, as consequence, home insurance.

Important note about flooding risk – typically overland flooding (e.g. due to strong rains or raised water level in rivers) is not covered by home insurance. Thus emergency government program(s) would be the only way to somewhat compensate financial impact of the flooding.

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How Can You Save on Home Insurance in Ottawa?

  • Alumni: Graduates from some Canadian universities, such as University of Toronto, McGill University and NAIT, may qualify for a discount through select providers.
  • Professional Memberships: Are you a member of a professional organization such as Certified Management Accountants of Canada? Some companies offer discounts to professional members, and some organizations offer their members insurance policies
  • Stop smoking: Some insurers increase their premiums for the homes with smokers since this means an increased risk of fire.
  • Mortgage insurance: Do you have life insurance?  If so, you may have enough coverage to forgo mortgage insurance.  Mortgage insurance is another name for a life/critical illness and disability insurance that pays off your outstanding debt on your home in case of a tragic event. For example, a term life policy large enough to pay off your home is usually cheaper.
  • Earthquake insurance coverage: Don’t let earthquake insurance shake you up unless you actually live in an earthquake-prone zone.  Dropping earthquake protection can save you money; for example, in BC earthquake coverage can account for as much as one-third of a policy’s premium but do you really need it in Ontario?
  • Mortgage-free home: When you pay off your home, some insurers will reward you with lower premiums.
  • Direct insurers: Have you always dealt with insurance brokers or agents? Getting a policy from a direct insurer, also called a captive agent, may save you money. A captured agent only sells products from one company.
  • Bundle: Most companies offer a discount if you bundle polices, such as home and auto.
  • Interested in more saving tips for Home Insurance in Edmonton? Get an insurance quote below and connect with an experienced insurance professional to get more tips

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Our Publications related to Home Insurance

Insurance for Short-Term Rentals: What You Must Know

Insurance for Short-Term Rentals: What You Must Know

The business of insurance is said to be a tricky one because you might never know what type of policy you have until it is time to file a claim. Toronto townhouses and condos are usually covered by homeowners insurance policy. But here is what a lot of people are not aware of - These policies[...]
Is Ontario’s Hottest Real Estate Market Cooling Off?

Is Ontario’s Hottest Real Estate Market Cooling Off?

Home sales across Canada fell by 6.2 per cent in June, largely on the back of a huge decline in Toronto, the Canadian Real Estate Association reports. The Greater Toronto Area experienced the largest decrease in sales, with 6.7 per cent fewer homes trading hands. This greatly contributed to a downtu[...]
Hidden Closing Costs for Your New Condo

Hidden Closing Costs for Your New Condo

For many buyers scoping out pre-construction condos, monthly maintenance fees are often a top concern. “How much are condo fees?” and “Will they increase?” are usually the first set of questions brought up to Realtors after discussions around location and asking prices have been put to rest. Howe[...]
Home Insurance and Flooding in Canada: Finally Explained

Home Insurance and Flooding in Canada: Finally Explained

Overall, home insurance is a straightforward product that is easy to understand. There are some types of home insurance, such as house insurance, condo insurance, and homeowners insurance, that are quite similar; that is until flooding becomes an issue. Many people do not understand if they are cove[...]
The Home Price Premium in Toronto’s Best School Districts

The Home Price Premium in Toronto’s Best School Districts

Prices in Toronto’s real estate market have become famously high, breaking new records each month – but what kinds of homes are really whipping buyers into a frenzy? It turns out, a top feature driving bidding wars is a home’s proximity to a highly-regarded school. In fact, according to recent da[...]
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