Home Insurance Calculator Ottawa

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Ottawa is the Canadian capital and is home to over a million people from various cultures. It lies in the southeastern part of the province of Ontario and has Quebec and U.S. as a part of its border. The Rideau Canal cuts through this city and Ottawa lies in an earthquake zone. This city is safe compared to other Canadian cities with low crime rates and is officially a bilingual city with English and French-speaking residents. There are many landmarks that dot the city landscape. The Parliament Hill, the National Gallery of Canada and the Rideau Canal that transforms into a gigantic ice skating rink are just some of the attractions.

The city of Ottawa has a wide range of downtown urban, family friendly community and rural settings of lifestyles. Though a major part of the city is rural and green there are developed urban zones with high rises. This city has an efficient transportation that connects well with many bike paths and arteries. Highway 401 runs from east to west end with not much traffic congestion. Though not as cosmopolitan as some other Canadian cities, Ottawa is very refreshing and safe to call as your home with a friendly vibe.

Home Insurance Quotes in Ottawa

RankHome Insurance CompanyAnnual Rate Per Year
1RSA$843
2Aviva$970
3Zenith$993
4Economical Insurance$1246
5Pembridge$1347

Who Has the Cheapest Home Insurance Quotes in Ottawa

We surveyed the home insurance quotes in Ottawa by some of the major insurance providers. The lowest quote for home at an annual cost of $843 was by RSA insurance company. This quote was lower by $504 than the highest quote and that is a variation in pricing by 37.41%. The next lowest quote was by Aviva insurance company at an annual price of $970. There is a difference of $127 in pricing when you compare it to RSA quote.

Who Has the Most Expensive Home Insurance Quotes in Ottawa

As per our comparison survey with a sample profile for home insurance quotes, the highest quote was by Pembridge insurance company. Their quote was an annual cost of $1347. The next highest quote for home insurance was by the Economical Insurance at an annual price of $1246. This was a variation in pricing by $101 when you compare with the most expensive quote by Pembridge insurance company.

Average Home Insurance Cost in Ottawa Neighbourhoods

Neighbourhoods in OttawaAverage Home Insurance Cost
Alta Vista, Ottawa$1,673
Barrhaven$638
Bayshore$924
Beacon Hill, Ottawa$1,194
Beaverbrook$1,608
Bells Cornes$825
Blackburn Hamlet$706
Blossom Park$1,086
Borden Farm$811
Bridlewood, Ottawa$1,032
Brittania, Ottawa$1,269
ByWard Market$1,433
Carlington$1,012
Carp$1,058
Centrepointe$1,517
Centretown, West$1,221
Chapel Hill$1,113
Craig Henry$996
Downtown Ottawa$1,122
Fallingbrook$876
Fisher Heights$978
Glen Cairn$969
Greely$1,602
Hawthorne Meadows$1,000
Heron Gate$603
Hintonburg$1,194
Kanata$789
Kanata Lakes$715
Katimavik-Hazeldean$842
LeBreton Flats$1,097
Leslie Park$1,095
Lindenlea$1,547
Lower Town$1,223
Manor Park$1,562
Manotick$1,664
New Edinburgh$1,435
Old Ottawa East$1,030
Orleans$749
Overbrook$1,138
Parkwood Hills$825
Queenswood Heights$696
Riverview$1,206
Rockcliffe Park$1,415
Rothwell Heights$1,331
Stittsville$1,904
Tanglewood$577
The Glebe$1,272
The Glebe$1,272
Tunney's Pasture$1,134
Vanier$1,051
Westboro$1,328

Your Additional Ottawa Home Insurance

When you purchase a home you make a major investment that may even include your lifetime savings. So, any kind of loss or damage to your home may be a huge financial setback if you do not have insurance for such an incident. While you may want to save a few bucks by not buying insurance, it might be the only form of support in case you were to suffer a huge loss or damage to your home. You may purchase home insurance for your primary property where you reside, your temporary vacation home or your rental home. There is an option to have just the building structure insured but in that case, you may not claim for any damage or loss to your contents in the home. The contents cover protects your personal possessions from the perils that you have purchased insurance for.

Any high-value items may require a separate policy or you may add a special endorsement on your contents cover. You may purchase an annual or 6 months home insurance policy. Major perils that most home insurance policies cover may include fire, theft, vandalism etc. Another important fact is that as per the location of your home, the perils that may be part of your home insurance can vary. As an example, if you live in a flood prone area then you may have to buy a flood insurance policy separately. It is very unlikely that your regular home insurance may cover you for any damage to your home due to flood or earthquake.

Some items that may not be covered under your contents cover include:

  • Premium watches
  • Jewelry
  • Expensive paintings or art
  • Coin collection
  • Antique items
  • Precious stones
  • Musical and sporting instruments
  • Cycles
  • Fur

Home Insurance Basics

If you were to obtain a mortgage to buy your home then your lender may insist that you get home insurance too. In Canada, if you were to pay less than 20% of the purchase price of your home then you may also need to get mortgage insurance. There are 2 sections of the home insurance policy that you may pay attention to and that includes the perils coverage and liability coverage. If you own and live in a house then your home insurance may also cover any extended building structures such as garage or garden shed.

There are 3 types of home insurance that you may choose from as per your requirements and affordability. The cheapest option would be the basic coverage which is very minimal but may cover the most named perils and is also known as named perils coverage. A more comprehensive coverage would give you better protection for both the contents and the building unless there are exclusions. The comprehensive coverage is also known as a broad policy. The no-frills policy covers properties that do not fit the norm and may need special underwriting requirements.  You may get specific coverage for sewer backup, flood etc. as per your home condition and location. The personal liability portion of the home insurance can help you to claim if someone sued you in court for damages or injuries.

Tips To Reduce Your Home Insurance Costs

Just as with any other expenses, you may also want to cut down the costs for your home insurance premiums. There are some factors that affect the calculation of premiums that may tweak your costs. If you know what those tips are then it could come handy and help you to get a pretty good deal.

  • You may install burglar alarms or features to protect your home from theft and this could get you a discount.
  • Combine your home insurance with your car insurance with the same provider and enjoy a multi-product discount.
  • If you are a non-smoker then it is good for your health as well as your wallet as it may give you some savings on premiums.
  • Check around for many quotes as each insurance provider may have a different formula. You may save your money if you take some time to research and compare your coverage and home insurance quotes.
  • Increase your amount of deductible as this could lower your premiums.
  • Review and evaluate the worth of contents as it could depreciate over time and you may be overpaying for insurance.
  • If you are buying an old property consider the modifications or alterations that may be beyond the norm that may raise the insurance costs.
  • An impressive credit rating would also help to get a fair deal for your home insurance.
  • You may stay loyal with the same home insurance provider and gain a loyalty discount.
  • It really helps to know the difference between the actual cash value of your home and rebuilding cost of your home.

Are You Planning on Moving to Ottawa?

moving home

If you have plans to move to Ottawa then you may be happy to know that it is a safe and economically stable city. Being bilingual may help you in many facets including securing decent employment. It is very likely that your kids may enroll for French immersion. In case you are moving to Ottawa from a fast paced city then you may feel a bit spaced out. There are many sports arenas, museums, restaurants, theater etc. that could keep you busy on your leisure time. Or, you may just stroll around Byward market and dig into some yummy shawarma. If you love ice skating then in the winter months, you may try to skate across the Rideau Canal. No doubt, Ottawa is a capital city with great culture and history that welcomes you to live and work.

Getting Around Ottawa

With just under an hour’s drive from the U.S. border, Ottawa is well connected to New York. You may reach Toronto in less than 5 hours by car and it takes just a couple of hours to get to Montreal from Ottawa. Traveling across the city is a breeze as there are many options. The public transit has light rail and buses running throughout the city and apart from the rush hours traveling is quite ‘peaceful’.  The OC Transpo, Para Transpo, and O-Train are common transportation options in Ottawa. Highways 401, 417 and 50 are mostly used for commute.

City Governance in Ottawa

Ottawa is divided into 23 wards and the governance comprises of a Mayor and 23 councilors for each ward.  The city council is responsible for the administration of municipal services such as water, policing, transit, recycling, and garbage, paramedics, fire, and sewers etc. Major governance decisions are taken at the standing committee, advisory committee, and city council meetings. And, as the general public, you may attend these meetings to know more about the city and its development.

Average Cost Of Living In Ottawa

If you were to compare the cost of living then Ottawa may turn out to be cheaper than Toronto. The cost of living in Toronto is 1.38 percent higher than Ottawa. As per the estimates, an average single person living in Ottawa could spend around $600 per month for living expenses in Ottawa without paying rent. The main areas where you may spend are food, clothing, transportation, housing, entertainment, healthcare etc. As per your living requirements and location you may have to allocate your monthly budget for various expenses.

  • Taxes
  • Phone/ Internet
  • Housing
  • Grocery
  • Hydro
  • Day Care
  • Transportation
  • Education

Average Ottawa House Price

The average house prices in Ottawa have seen a surge of around 6.4 percent in 2017 when you compare it to prices last year. The average price for a house in Ottawa as per the Ottawa Real Estate Board could be around $394,000. This is an increase in the prices of about 1.9 percent when compared to prices in January 2016.

Detached House Price in Ottawa

In Ottawa, the average price of a detached house could be somewhere around $502,050.

Semi-Detached House Price in Ottawa

You may pay around $296,200 for a semi-detached house in Ottawa.

Townhouse Price in Ottawa

To own a townhome you may pay around $304,100 in Ottawa.

Condo Price in Ottawa

The average cost of a Condo in Ottawa is about $261,100.

Average Ottawa Property Tax

In Ottawa, the MPAC or Municipal Property Assessment Corporation conducts an assessment of property taxes once in 4 years. They had assessed the property tax in 2016 and there was an increase of 18% all over the province. For Ottawa, the increase in property taxes was only by 3.45% at an average.

 Property Tax Estimate in Ottawa for 2016
ServiceRate Amount
City Wide0.479442 $  1,438.33
Ottawa Police Services0.142339 $     427.02
Capital Tax Levy0 $              –
Conservation Authority Levy0.00623 $       18.69
Transit Zone0.154287 $     462.86
Fire Services0.081948 $     245.84
Solid waste / GarbageFIXED $       82.00
Sub total0.864246 $  2,674.74
Education0.188 $     564.00
Total Estimated Taxes1.052246 $  3,238.74

The above table indicates an estimate of property taxes that you may have to pay for a property assessed at a value of $300,000 in Ottawa.

Average Ottawa Salary

Ottawa is considered an economically stable city and provides ample opportunities for employment. More than likely the average household incomes in Ottawa are higher than the provincial average. When the province had an average household income of $81,000, the average household income for Ottawa ranged around $87,000.

The below table shows the estimated salary comparison of various job profiles in Ottawa.

Job ProfileAverage Annual Salary
Executive Assistant$52,200
Software Developer$71,190
Admin Assistant$36,700
Project Manager$70,530
Retail Store Manager$42,915
Office Manager$47,550

Average Ottawa Hydro Bill

You are looking at an average cost for basic utility at around $150 per month in Ottawa for an average sized living space. It might be more or less as per the number of members in your household, the size of your home and the total consumption.

Average Ottawa Winter And Summer Temperatures

Sunny weather in summers and really cold winters are normal in Ottawa. If you were to compare the winter temperatures with Toronto, it is much colder in Ottawa. Summers can be pretty humid and smoggy at times but the good news is that there are lots of green spaces in Ottawa. Sometimes the range in temperature could shift drastically from a warm day to some snowflakes on the next day. Typically, the summer temperatures could go up as high as 26°C and the winter temperatures could drop to -15°C. Usually, warmer temperatures start from May and last until September. And the colder season starts from December and goes on till March.

Average Ottawa Daycare Costs

You may pay an average of $1000 per child for daycare costs in Ottawa. This is an expense that may play a major decisive role in your take home salary. This cost could easily take up a good proportion of the earnings so you may be lucky if you have support from an extended family.

Ottawa Average Grocery Bill

If you are not in the habit of eating out quite often then you may be able to manage your average grocery at $120 per month for each adult.


Resources:

http://ottawa.ca/en/watch-or-listen-city-council-meetings#how-does-council-govern-your-city

http://creastats.crea.ca/otta/

http://assets.ibc.ca/Documents/Brochures/Home-Insurance-Q-and-A.pdf

http://ottawacitizen.com/news/local-news/ottawa-residential-assessments-up-3-45-per-cent

http://ottawa.ca/cgi-bin/tax/tax.pl?year=24&property_type=110&tr=1&f=8&sw=5&assessment=300000&submit=Submit+Query&lang=en#


 

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