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Ottawa home insurance

Ottawa, Canada’s capital, is a beautiful place to live, especially if you’re into picturesque views with lots of trees and historical buildings. The city is also super clean, laid-back and family-friendly, radiating that ‘small town charm.’

Even so, homeowners in Ottawa, who value their possessions and property, need home insurance to protect them from damage, theft or legal liabilities. Though home insurance is not mandatory for homeowners in Ottawa, it is often required by banks and mortgage lenders for financing your home. Even if you disregard mortgage, home insurance is still a good idea – given how big of an investment your home is.

The Financial Services Regulatory Authority of Ontario (FSRA) is the regulatory body for Ontario's property and casualty as well as the general insurance sector. Its role is to ensure that insurance providers and sellers are licensed, and follow the legislation for property and casualty insurance.

Different types of home insurance coverage in Ottawa

Homeowners seeking insurance in Ottawa should consider the diverse types of coverage available to them, including:

• Building/property coverage: If you’re concerned about the physical structure of your home and its ultimate protection, building coverage can take care of that. It covers things like the roof, walls, floors and sometimes fixtures. Structures attached to the home, like garages and sheds, are usually covered by this as well.

• Contents: Inside your home are your possessions, including the day-to-day items you need to live, like clothes, furniture, electronics and so on. You’ll want to do an inventory of your possessions and determine their value, if possible, in case claims are required. It’s best to keep original receipts and photos of items in case a claim is necessary. More expensive items like fine art or jewellery can be insured separately through so-called ‘riders’ or ‘endorsements’ that single out these items due to their intrinsic value.

• Personal liability: Damage or theft of possessions poses one type of risk, but what if you cause damage to a neighbouring home, or someone is injured on your property? Should a lawsuit occur, having personal liability coverage will save you money on legal fees and protect you from potential financial ruin.

• Additional living expenses: In cases of extreme damage or a mass evacuation from a dangerous area, your home insurance can pay for additional living expenses (ALE). Depending on your policy, ALE will pay for temporary rent, transportation and food. ALE will not cover expenses if you move out for convenience purposes, say, during a renovation.

Commonly covered perils

House insurance protects your Ottawa home and its contents against a variety of unexpected perils. Most basic policies protect you against the following:

• Fire damage

• Break-ins and theft

• Vandalism

• Smoke damage

• Falling objects

• Civil unrest

• Vehicle or aircraft impact

• Explosions

• Wind damage

• Hail damage

Common optional endorsements/coverages

There are many optional endorsements that can be added to home insurance policies, including:

• Overland water and sewer back-up: Many home insurance policies cover water damage, but typically not from sewer back-up or overland flooding. Sewer back-up covers water damage from overflowing drains, eavestroughs, sewer pipes, septic systems and sump pumps. Meanwhile, overland flooding covers water damage caused by bodies of water like rivers, which overflow onto dry land.

• Earthquakes: Depending on where you live, damage from earthquakes can be a very real threat. It is not unheard of on the west coast, but east coasters are not necessarily safe either. According to the Insurance Bureau of Canada (IBC), there is a 5%-15% risk that a powerful earthquake will hit the area from the St. Lawrence River Valley to the Ottawa Valley, which includes Quebec City, Montreal and Ottawa.

• Home-based business: Most home insurance policies should cover small amounts for possessions like books, tools or instruments. But if you’re running a small business from home, you may want to consider this add-on to protect your equipment.

• Identity theft: Every year, many Canadians fall victim to identify theft. Some Ottawa home insurance companies offer identity theft endorsements that can help with the cost of restoring your identity and credit rating.

• Exceptions: Exceptions to home insurance coverage can often include things like mold, maintenance, pests and high-value items like art and jewellery (which were mentioned earlier as items that can be added to a policy through a rider).

How we find you the best home insurance in Ottawa.

Like with the rest of Canada, home insurance is not a legal requirement for Ottawa homeowners, but it’s essentially a must-have. That’s because most banks and lenders require mortgage holders to also have home insurance. And when you consider what homes represent — security, family, shelter, community — it’s no wonder they need to be protected.

For many property owners, home insurance — which can also refer to condo and tenant insurance — can be confusing. What exactly does it cover? How much coverage do you need? How do you purchase coverage? That’s where we can help. LowestRates.ca compares the insurance market for you and connects you with a qualified home insurance agent or broker serving Ottawa.

This ensures that you’ll find the right amount of coverage, at the right price, for your property’s unique needs.

This page will provide an overview of everything you need to know about purchasing home insurance in Ottawa, Ontario. Read along and make sure you’re well-informed before taking out a policy to protect what’s likely your most important investment.

When you’re ready, take three minutes to compare home insurance rates in Ottawa. We’ll show you home insurance quotes from 50+ Canadian providers. It’s free and no-obligation and by shopping the market, you’ll know that you’ll have found the best price on home insurance in Ottawa.

Risk factors for homeowners in Ottawa

Perils that are specific to Ottawa

• Severe thunderstorms: Ottawa occasionally experiences severe thunderstorms, capable of causing torrential rainfall, hail, lightning, and even tornadoes or hurricanes.

• Strong winds: Like much of the province, Ottawa is subject to strong winds that are capable of dangerous gusts of over 100km/h.

• Earthquakes: While not a major risk in Ontario, earthquakes have been known to occur, and are actually most common in the Ottawa region. The damage from earthquakes can range from negligible to severe, and most home insurance policies will not cover any damage.

• Overland flooding: Situated on the Ottawa River and near a number of other bodies of water, Ottawa is at risk of flash flooding. Overland flooding – which is now the primary reason for home insurance claims in Ontario – occurs when heavy rainfall or melting snow cause water sources to fill beyond their usual confines, spilling out into streets, homes, vents, and basements. Water damage can be very costly to repair, and most home insurance policies do not cover damage caused by backed-up sewers, overland flooding, or storm surges.

• Extreme cold: As the world’s coldest capital city, Ottawa is no stranger to exceptionally cold winters. It’s not uncommon for the city to experience temperatures of -30 C, not including the wind chill. These frigid temperatures can cause ice damming, which is when a layer of ice melts and refreezes (also known as ‘freeze-thaw’ weather) causing water to seep into homes. Although ice damming is sometimes covered in basic home insurance policies, it’s wise to always ask your broker if your home is protected against it. Extreme cold can also result in frozen pipes, which are also sometimes covered, but always ask your broker for details.

Perils property insurance won’t cover in Ottawa

Unfortunately, not every unexpected peril that can impact your home is covered by basic home insurance. Here are a few events that usually require additional coverage:

• Damage resulting from flash floods or overland flooding. Water damage resulting from burst pipes or overflowing toilets is usually covered, but additional coverage is typically required to protect against flooding.

• Loss of high-value belongings. Most standard home insurance policies will cover some high-value items, but if the value of a specific item – think jewelry, artwork, watches, furs, etc. – exceeds your policy’s limits, it won’t be covered. So if you have anything especially valuable that you’d like covered, look into additional coverage.

• Earthquake or landslide damage. Additional coverage against these incidents would need to be purchased separately.

• Pest damage and infestations. Damage caused by insects, birds, rodents, bats, or skunks is considered to be part of home maintenance and is thus incumbent upon the homeowner to guard against.

• General wear and tear. Homeowners are expected to keep their homes up to date and protect against deterioration. Therefore any wear and tear that results in home damage are not usually covered.

• Home-based businesses. If you’re running a business out of your home, you will most likely require additional coverage to ensure that your business-related items are protected, such as inventory, equipment, computers, software, and furniture.