Compare Quotes for Home Insurance in Nepean
Owners of homes in western Ottawa need property damage coverage. This area has frequent thunderstorms during the summer, and Nepean homes suffered damage from a derecho in May 2022 and an EF2 tornado in September 2018. This region of Ontario receives an average of 150 to 200 centimetres of snow each year, which can also result in property damage. Find out how insurers calculate premiums for home insurance in Nepean and learn about optional coverage for homes in the Ottawa area.
Key Factors for Home Insurance Premiums
The average insurance premium for a home in Ottawa is about $104 per month or $1,250 per year. Homes near the Ottawa River or Rideau River may have higher premiums due to flooding risks. Several factors affect premiums and other policy costs:
- Type of residence: Premiums vary based on whether a property is a detached or semi-detached home or townhome. Construction materials, the size of a home and the number of stories are also significant considerations.
- Location of home: The neighbourhood where a policyholder lives also affect rates. Location data includes crime rates and the frequency of claims in an area, including the risk of flood damage, which most policies exclude.
- Level of deductibles: The deductibles or amount of expenses a policyholder must cover before insurance claims payout also affects monthly premiums. Policies with higher deductibles tend to have lower premiums.
Policy Options for Homes in the Ottawa Area
HUB International insurance brokers can provide quotes for several types of home insurance in Nepean. Most policies exclude certain risks, such as flooding, sewer backups and windstorms, which can affect residences in western Ottawa. Learn more about several types of home insurance policies and optional add-ons:
- All-perils policies: The most comprehensive type of home insurance covers all risks to the structure of a dwelling and contents with the exception of exclusions. Homeowners should note policy limits and consider separate coverage for high-value personal articles.
- Broad policies: Broad form policies cover a wide range of perils to a dwelling, with the exception of exclusions, like an all-perils policy. These policies typically only cover named risks to contents.
- Basic coverage: Standard coverage only covers named risks to a dwelling and its contents. Basic policies provide more coverage than no-frills policies.
- Flood insurance: Most home insurance, including all-perils policies, excludes damage that results from flooding. Additional flood coverage is available in some areas.
- Sewer backup: Heavy rain can cause sanitary sewers to overflow and flood basements in low-lying areas. Coverage for sewer backups can reduce personal expenses to restore structural flood damage and repair or replace damaged contents.
- Windstorm coverage: Most home insurance policies cover storm damage. Policies may exclude damage caused by derechos, tornadoes or severe windstorms, along with any damage that results if rain or hail enters a structure after wind damage.
Additional coverage for sewer backups and floods can be a good investment for owners of homes in areas of Nepean prone to flooding after heavy rain. The City of Ottawa offers Residential Compassion Grants of up to $1,000 to eligible owners of homes that flood more than three times due to backups. The Residential Protective Plumbing Program in Ottawa offers rebates for qualifying improvements, such as backwater valves, sump pumps or similar devices, that can reduce damage and lower premiums.