If you reside in Ottawa and own a home, it is important to have home insurance. This is incredibly important to have for all homeowners due to the fact that you want to protect your property should there be any unexpected circumstances.
Ottawa, Ontario is one of Canada’s most popular tourist spots as it holds the title of Canada’s capital city. In June of 2019, the City of Ottawa estimated it had surpassed a population of 1 million people. Now that there are many Canadians finding themselves moving to our nation’s capital, Ottawa has seen an exponential growth in population, which in turn has seen a rise of homes being listed for sale.
With that being said, Ottawa homeowners and/or homebuyers in the process of moving to our nation’s capital should always make sure that they’re protected with the right and best Ottawa home insurance coverage.
In Ottawa, when you purchase Home Insurance with Oracle RMS, you are insuring your home, dwelling, contents and additional living expenses in the event that you are temporarily unable to live in your home due to an insured loss in certain circumstances.
By partnering with Oracle RMS, we provide excellent customer service and work hard to get you some of the lowest home insurance rates in Ottawa that best suit your unique needs. We are proud to be partnered with a wide range of insurance companies who can provide a variety of home insurance quotes for all Ottawa residents.
At Oracle RMS, you will work along with one of our licensed brokers to help guide you through the quoting process. They will make sure you understand all the insurance jargon and information up to the last detail of your home policy before you’ve made the final decision.
This section of a home insurance policy will provide coverage to protect the insured should a person or their property suffer an injury in your home and they decide to take legal action against you.
This type of coverage covers the contents, valuables and personal belongings that reside in your home. It also provides coverage when you’re travelling away from your home – this is covered by an insured peril should there be damages in your home. Insured perils can range from vandalism, theft, fire, flooding, smoke damage, water damage and more.
This type of coverage in a home insurance policy will cover the costs associated with damages by insured perils in your home. The damages covered include the replacement cost of your entire home as well as the garage and patio.
This type of coverage covers the insured if serious damages to your home are severe enough that you are displaced and need to live elsewhere for a period of time. It will cover the following costs: temporarily living in a hotel and rental and storage for your belongings.
Whether customers are shopping for a better home insurance policy, are informed about their upcoming home policy renewal or are looking to save money on their current policy, overall, it is important to be informed about home insurance and how a policy works.
Overall, there are a total of 7,365 homeowners in Ottawa. The most popular dwelling size in the City of Ottawa is three bedrooms, which is 38.21%. The least popular dwelling size is one bedroom or less.
With that being said, there are a total of 373,755 occupied private dwellings in the City of Ottawa. There are 158,235 single-detached houses, 20,140 semi-detached houses, 79,340 row houses and 465 other single-attached houses in the City of Ottawa.
Meanwhile, the average household size is 2.5% in Ottawa. Statistics show that there are 105,750 people who are living in a 1-person household, 124,280 people who are living in a 2-person household, 58,010 people who are living in a 3-person household, 55,215 people who are living in a 4-person household and 30,500 people living in a 5 or more person household in Ottawa.
During the month of March 2020, members of the Ottawa Real Estate Board sold 1,525 residential properties, compared to 1,507 in March 2019. This is an increase of 1.2% in the number of properties sold versus the previous year.
Of these 1,525 dwelling sales in 2020, 1,170 were freehold homes, while the remaining 355 were condominiums.
The current average price for a freehold home in Ottawa in 2020 is $610,980, which is an increase of 16.8% from its previous year.
