Ottawa Home Insurance Broker
Affordable Ottawa Home Insurance Online
Your home is undoubtedly your most precious financial investment, representing security, comfort, and cherished memories. So why leave it vulnerable to the uncertainties of the unknown? At Sharp Insurance, we understand the value of peace of mind. That’s why Our Ottawa insurance brokers are dedicated to helping Ottawa homeowners transform their insurance uncertainties into a secure future.
With our comprehensive coverage for home insurance in Ottawa, we ensure that you’re protected against a wide range of unforeseen events. Whether it’s natural disasters, theft, or accidental damage, you can rest assured knowing that we have you covered when the unexpected happens. Trust our Home insurance brokers to safeguard your home and provide the stability you deserve.
In addition to home insurance, we also offer other types of insurance in Ottawa like: property insurance, auto insurance, condo insurance, tenant insurance and more. Protect what matters most with Sharp Insurance.
How to get the Cheapest Home Insurance Quotes in Ottawa
There are several methods to purchase Ottawa home insurance; take the initial step by contacting us.
- Shop around and compare quotes: It’s important to do your research and get multiple quotes from different insurance companies in Ottawa. This will help you find the best coverage at the most affordable price.
- Bundle your policies: Numerous insurance providers propose attractive discounts when you combine your home insurance with other policies, like auto or life insurance. This can result in significant savings.
- Increase your deductible: Choosing a higher deductible can reduce your monthly insurance premiums. However, ensure that the deductible is an amount you can afford without strain in the event of a claim.
- Improve home security and safety measures: Some insurance companies offer discounts if you have certain safety features in your home, such as smoke detectors, fire alarms, and security systems. Making these improvements can also lower the risk of damage to your home, which could result in lower premiums.
- Maintain a good credit score: Numerous insurance firms consider credit scores as a significant factor in setting home insurance premiums. Maintaining a good credit score can help you get more affordable quotes.
Contact Us for the Best Ottawa Home Insurance Quotes
Average home insurance cost Ottawa
The Average home insurance cost in Ottawa is around $1,249 per year or $104 per month for your premium. Ottawa’s home insurance rate is higher than the provincial average for Ontario, which stands at around $1,207 per year.
Checkout: Ontario Home Insurance
What Factors Impact the Cost of Home Insurance Rates in Ottawa?
The cost of home insurance in Ottawa depends on several elements, including:
- Claims and insurance records
- Type of home, construction materials, & square footage
- Age of roof, heating and electrical system
- Security or loss mitigation devices (e.g. burglar alarms, sump pumps)
- If you have tenant(s)
- Proximity to fire station/fire hydrant
- Home value
- The claim and crime rate in your area
- Credit score
- Natural disasters (frequency & severity)
- Proximity to a river or lake
- Discounts you’re eligible for
- Policy options (e.g. loss settlement, limits)
Do I Need Home Insurance in Ottawa?
It’s not legally mandatory to purchase home insurance in Ottawa but it’s a necessity. If you have a mortgage, it’s also a requirement from the lender or bank. Imagine losing all your belongings in a fire and you need to replace everything, including your home – would you be able to pay to repair all the damage?
Our Ottawa home insurance brokers help guide you through the process of finding the best home insurance rates to fit your budget.
The 5 Top Reasons to Buy Home Insurance in Ottawa
As an Ottawa homeowner, you want to feel secure about your personal items and your savings. While you can’t control a hailstorm that destroys your roof or someone slipping on your kitchen floor, you can control how you’re protected.
While there are many reasons to buy home insurance, here are the top 5 reasons why:
- You may not have enough money to rebuild your home or replace your clothes, furniture, etc.
- You may not be able to pay for lawyer fees. If a visitor hurt themselves or their belongings are damaged unintentionally – you would need liability insurance.
- Your mortgage lender requires it.
- It would help if you had additional living expenses after a disaster.
- Peace of mind: you want to worry less about the “what ifs.”
Did you know?
The size and value of your home is a major factor in determining your home premium. The maximum cost to replace your home is the replacement cost.
Readmore: How to Save on Home Insurance
What are the Different Types of Home Insurance in Ottawa?
If you’re fortunate enough to purchase a home in a sought-after Ottawa neighbourhood, such as the Glebe or Westboro, you’ve probably examined the city’s crime and claim rates beforehand. If you haven’t, doing so is advisable. When selecting your home insurance policy, it’s wise to consider all available options carefully.
3 common home insurance options:
8 Additional Coverages:
- Overland Water: covers flood damage caused by the overflow of lakes and rivers, snowmelt, and precipitation.
- Sewer Backup: covers damage caused by the backup of your home’s sewer and drains.
- Groundwater: some insurance companies provide coverage if groundwater floods your home.
- Service Line: the repair or replacement of service lines on your property, including sewers, water mains, electrical cables, and internet lines.
- Earthquake: covers damage caused by earthquakes, landslides and other earth movements.
- Bylaws: covers the costs for bringing your home up to current bylaws if you need to rebuild after an insured loss.
- Identity Theft: extends identity theft coverage.
- Floaters: if you have jewelry, sports equipment, electronics or collections that are valued at more than your content limits, consider protecting it with its own “floater” add-on.
Some of the above additional coverage is offered by some home insurance companies as part of a comprehensive insurance package.
Readmore: Top 4 Tips to Protect Your Home from Floods During Spring Melt
Did You Know?
If you’re mortgage-free, you can get a discount on your home insurance rate. Ask your broker for more information.
What’s Covered under my Home Insurance Policy?
There are three standard coverages that every home insurance policy has.
3 Standard Coverage Options:
- Property Damage – This coverage protects the structure of your home, including buildings that aren’t attached to it, like fences and sheds. Property damage covers your belongings as well. So, in case of damage or theft, you will get replacements under this coverage.
- Personal Liability – If someone sues you for getting injured on your property, by you or your family members, this coverage has your back. It also covers damage to other people’s property that you or your family members caused.
- Additional Living Expenses – If a mandatory evacuation or covered claim forces you out of your house, this coverage pays for the cost of accommodation, meals, and transportation.
Some home insurance policies include additional coverage, like lock replacement, frozen food replacement, and identity theft. Ask your insurance company for more information.
Did You Know?
If you’re building a new home, your insurance company may offer a new-build discount on your policy.
What Type of Damage is covered by Homeowner’s Insurance?
A peril, or risk, is an unexpected event that causes damage or loss. Depending on your insurance provider, some perils are covered and others aren’t. Here are some of the perils commonly covered under a standard home insurance policy.
12 perils covered under a policy:
- Fire
- Smoke
- Hail
- Explosion
- Lightning
- Electrical current
- Wind
- Impact by vehicle or aircraft
- Falling object
- Weight of snow
- Riot, vandalism, theft, & other malicious acts
- Water damage – certain types
Uninsured Perils/Common Endorsements/Add-Ons:
- Sewer backup
- Overland water (flooding)
- Earthquake and landslides
These perils can also be bought separately. However, some Ottawa insurers include them in a comprehensive home insurance package.
What is Not covered by Ottawa Home Insurance?
These are some of the risks that aren’t covered by most standard home insurance policies.
- Wear and tear
- Mold
- Damage caused by insects, vermin, and animals
- Water damage if no one has checked on your home every 3 days
- Any damage caused by illegal activities by the homeowner
- War or terrorism
- Nuclear incidents
- Your home is vacant for 30 + consecutive days. If you have a loss, you may not have coverage.
Did You Know?
You can have too much insurance coverage. You could be paying money for protection that you’ll never need. Go over your insurance policy details with your home insurance broker every year.
What is a Loss Settlement Option for Home Insurance in Ottawa
When your home is damaged or destroyed, you receive an amount from your insurance company. The amount that you receive depends on the type of lose settlement you agreed on with your company.
3 Loss Settlement Options:
Our experienced Ottawa home insurance brokers are available at any time to make sure your loss settlement options align with your needs. We compare options and set up the best plans for you and your lifestyle.
What are your Policy Limits for Home Insurance in Ottawa?
Ottawa home insurance policy limit is the maximum amount you’ll receive if you have a covered claim. Different areas of your policy may have different limits – your personal belongings or contents limit can be different than your home or dwelling’s limit, for example.
An experienced home insurance broker in Ottawa can assist you in selecting the ideal policy limits that align with both your lifestyle and budget.
Get a QuoteWhat is a Deductible and how does it impact my Home Insurance in Ottawa?
Your deductible is the amount you are responsible for paying when a covered claim occurs. Opting for higher deductibles reduces the likelihood of filing minor claims. This is because higher deductibles usually result in lower insurance rates. If you can afford to pay for an incident out-of-pocket, you’re more inclined to choose this option instead of filing a claim.
How much coverage do I need for my Homeowner’s Insurance in Ottawa?
The coverage you need for your home insurance in Ottawa differs based on your needs, preferences, and the limits that your mortgage lender sets if any.
Most time, we advise for an all-risk or comprehensive policy that offers enough protection without going overboard with unnecessary coverage. Our Ottawa homeowners insurance brokers can give you expert advice on how to get sufficient insurance by assessing your requirements and finding you the best deal.
What is Considered High Risk Home Insurance in Ottawa?
If you’ve been labelled as high risk by your insurance company, what does this mean? You’re high-risk if you have:
- Been cancelled for non-payment or another reason by an insurer
- A high number of claims
- You live on a rural property
- You live in an old or heritage home without upgrades to the electrical or plumbing systems
- An empty home
- Multiple mortgages
Being high risk does not mean you can’t get home insurance in Ottawa; it means it may be harder to find adequate coverage to protect your home. Less coverage, higher premiums, and/or less choice with your payments is also possible. Also we recommend you to check High Risk Insurance Process.
We can help you protect your home. Request an Ottawa home insurance quote online and we’ll find you the ideal coverage that best suits your needs and the needs or your family.
What does Sharp Insurance offer to customers as an insurance provider?
Sharp Insurance works with the very best insurance companies in ottawa. For you, that means competitive home insurance quotes, excellent customer service, and digital options.
At Sharp, here is what sets us apart:
At Sharp, we have an app (My Sharp )and web portal that gives you the freedom to manage your insurance needs from your car or the comfort of your home. Download or print your pink cards, review your coverage, submit a claim, request a change and more. No more waiting on hold!
Is homeowners insurance the same as home insurance?
Homeowners insurance may refer specifically to a property that you own — a full-scale home — where home insurance could be an overarching term used to refer to condo insurance or tenant insurance. In essence, they’re the same — insurance coverage for your property.
How Can I Compare Ottawa Home Insurance Quotes?
The best way to compare home insurance quotes in Ottawa is to fill out Sharp’s online form or give us a call to receive your no-obligation free home insurance quote. We make it easy to find competitive quotes and discounts that fit your budget and suit your important insurance needs.
Ottawa Home Insurance FAQs
You can do a few things to get cheaper home insurance premiums in Ottawa, like shopping around for quotes to select the most suitable option, keeping your credit score high, or bundling home and auto insurance policies. Increasing your deductible and upgrading your home also helps in lowering premiums.
Additionally, at Sharp Insurance, we help you access multiple insurance companies to find the best coverage at a great price.
Explore More:
To get a home insurance quote, fill out our online form or contact us directly, and we’ll happily assist you. An experienced broker will go above and beyond to understand your needs and give you a personalized quote that is suitable for your budget and coverage needs.
Every person needs a different amount of home insurance coverage, depending on a few factors, like the property and personal belongings value. The cost to repair or replace is also considered, in addition to the mortgage lender’s requirements. Contact your Ottawa home insurance provider or get InTouch with our brokers if you have any question about your insurance coverage and we’ll be happy to help.
The Average home insurance cost in Ottawa is around $1,249 per year or $104 per month for your premium. The number depends on various factors such as the location and size of your property, your claims history, and the type of coverage you choose. It is always recommended to compare quotes from different insurers to find the best coverage at a good price. Working with an independent brokerage like Sharp Insurance can help you access multiple insurance companies and find affordable options.
Some factors that can impact home insurance quotes in Ottawa include:
- The location of your property, as some areas may have a higher risk of natural disasters or crime rates
- The size and age of your home, as well as its construction materials
- Your claims history and credit score
- The type and amount of coverage you select
- Any additional coverage options or discounts you may choose.
To file a claim, the first step is to contact your insurance provider as soon as the damage happens. They will guide you through the process and instruct you on what documents you need, like photos or receipts for repairs or replacement.
Working with an experienced insurance provider like Sharp Insurance can also make the claims process easier and quicker. Our Ottawa Insurance brokers will assist you every step of the way to ensure a smooth claims experience.