Home & Property Insurance in Ottawa

Your home is one of the most significant purchases you’ll ever make in your lifetime. That’s why it’s important to protect your investment. Oegema Nicholson Ottawa offers a fully customizable suite of home insurance plans designed to meet your unique needs. We understand that not all properties are built the same. That’s why we allow our clients to pick and choose the coverage that’s right for them. This means you’re never over or under-insured. Our mission is to help Canadians effortlessly acquire this peace of mind. To make things easier, we’ve created a comprehensive guide to help you choose a home insurance policy that’s right for you.

Why Should You Invest in Home Insurance in Ottawa?

In Ontario, homeowners insurance is not required by law. But when closing on a property, most banks require proof of home insurance before advancing on the mortgage. So unless you can buy your home outright without a loan, you could say home insurance is a crucial piece of the purchasing puzzle. Let’s say your property burns down after just one mortgage payment. If you don’t have insurance, what’s stopping you from not paying back the loan? This is why the bank wants to maintain an ‘insurable interest’ on your home at all times. Any loss or damage to this property would affect them financially. Home insurance protects their interest by ensuring the lender is reimbursed, even if the policy holder violates the conditions of the policy. Aside from satisfying the bank’s requirements — home insurance is purchased for a number of additional reasons, including the following:
  • Protects the home from a range of hazards, including fire, flooding, vandalism and theft
Even though home insurance in Ottawa is not required by law, you might be thinking about whether you should invest in it. Here are the most important reasons to invest in home insurance in Ottawa :
    • It helps with securing a mortgage. If you’re not a homeowner yet, but you’re considering applying for a mortgage, most banks usually require you to include proof of home insurance before they approve you. Home insurance protects their interest by ensuring the lender is reimbursed, even if the policyholder violates the conditions of the policy.For instance, let us say that your house is destroyed by a fire after you pay just one mortgage payment. If you don’t have home insurance, what is preventing you from not paying back the loan? Banks want to avoid this issue and having home insurance acts as an “insurable interest” on your home. Think of it as a preventative measure from the bank’s perspective.
    • Home insurance protects your home from hazards. In the event of a fire, vandalism, theft, and flooding, home insurance can give you the coverage you need to protect your home and bounce back better than before.
Covers personal liability should someone be hurt on your property as the result of an accident or negligence Includes temporary housing and additional expenses coverage should you need to stay somewhere else following a disaster
  • Peace of mind. You can sleep better at night knowing that your home is covered by a home insurance policy. Without it, you are taking a big risk and accepting full responsibility if something unfortunate happens to your home. In that situation, you will be forced to pay out of pocket.
Home insurance in Ottawa

What Does Home Insurance Cover?

If you’re a homeowner, you already know that maintaining your house is an investment, so let’s take a closer look at what home insurance in Ottawa covers.
  • In case someone is hurt on your property, home insurance offers personal liability and will cover the costs of the injured person.
  • If your house is damaged or destroyed by a disaster or hazard (e.g. flooding, fire, vandalism, etc.), your home insurance policy will provide temporary housing and cover additional expenses if you need to temporarily stay elsewhere.
  • If your home is damaged due to faulty plumbing and heating, your home insurance policy will cover the cost of repairing your home. Keep in mind that the cost of the land is not included. Home insurance also covers damages to your garage, driveways, sidewalks, fences, swimming pools and fences.
  • All your personal property in your home, such as clothing, electronics, home appliances, furniture, and sporting goods, are covered by your home insurance policy.

How Do You Calculate the Price of a Home?

Home insurance is usually calculated based on the estimated cost of rebuilding your home from the ground up. These are the factors that are considered when determining the price:
  • The overall square footage of your property
  • Distance from the closest fire station and fire hydrant
  • If you live in a remote area
  • If you have a monitored security alarm system
  • If you require earthquake, sewer backup and overland flooding
  • If you’ve made claims in the past, you could pay a higher premium
  • If you want to insure high-priced items like collectibles, fine art, antiques, jewelry, musical instruments that will increase your premium

Types of home insurance in Ottawa

Home and Property Insurance brokers in Ottawa Oegema Nicholson in Ottawa offers various types of home insurance. In Canada, there are three policies available.

Named perils

This is a basic policy that will protect your home from a specific list of ‘perils’. Water damage, fire and theft are all covered under this type of policy. At Oegema Nicholson, we offer some of Ontario’s most affordable premiums. But should you feel this basic coverage is not adequate, our friendly insurance agents would be happy to provide you a quote for more advanced coverage.


This type of policy protects against everything, except for a list of exclusions stated in your policy documents. Comprehensive coverage is the highest level of protection offered by Oegema Nicholson. Although this policy covers almost every peril imaginable, it’s still important to know there may be optional coverages. Check if things like jewelry or supplemental dwellings are covered.

Broad form

Broad form is a good compromise between named perils and comprehensive policies. It bridges the gap by offering comprehensive coverage on the most valuable aspects of your plan, but provides basic perils coverage on personal items.

What Factors Influence Home Insurance Rates in Ottawa?

Type of Home

If you’re home is an older model, your home insurance in Ottawa could be higher than a new home. The reason is that older homes are more likely to experience natural wear and tear faster than a newer model.

Electrical Wiring and Plumbing

If your home’s electrical wiring and plumbing system are old and you have experienced problems before, you can expect to pay a higher premium.

Age of Roof

If your roof has never been replaced and you have been living in your home for over ten years, it’s time to get a quote on roof replacements. The older the roof, the higher your home insurance policy could be, as inclement weather, like snow and rain storms, could cause damage to your roof and create leaks inside your home.

Easy Ways to Save on Home Insurance in Ottawa

Improve Home Security

You can save on home insurance in Ottawa by getting a home security system installed into your home. When you have your own home security monitoring your home, insurance companies are more likely to give you a lower premium as it acts as a security blanket in case something happens while you’re away.

Replace Old Wiring

Old wiring can cause electrical fires and damage your home. Having old wiring replaced with new ones can create savings in the long run on your home insurance policy.

Have a Good Credit Score

Having a high credit score can get you lower premiums. Why? Because if you have a low credit score, insurance companies deem that you’re more at risk of filing an insurance claim. So, the higher your credit score, the less risk you present, and this affects how much your home insurance premium will be.

Quit Smoking

Not only is smoking bad for your health, but it’s bad for home insurance insurers as they see smoking as a fire hazard that could damage or burn down your house. So it’s best to quit altogether for your health and the safety of your home.

Why trust Oegema Nicholson?

At Oegema Nicholson, we believe clients should be treated like family. Proudly serving the areas of eastern Ontario and western Quebec, our mission is to connect customers with high-quality insurance policies at affordable rates. Our friendly team in Ottawa is committed to ensuring your best interests, which means we work hard to represent you. Whether you require basic insurance on your first home or complex coverage for your summer cottage, rely on our expertise to help protect your most valuable assets. For more information on home insurance, call us at 613-704-7766 or contact us here.

If you are looking to save on insurance ONA can help. We have a wide range of options for bundling home and auto insurance plans. With our options you can tailor your coverage to meet your specific needs, ensuring comprehensive protection for your home and vehicle while enjoying reduced premiums.

bundling your insurance also simplifies the process for filing claims, as dealing with a single insurance provider can streamline the claims process, making it less stressful and more efficient.

When considering bundling your home and auto insurance, it’s crucial to research and compare offers from various insurers in Ottawa. Look for providers with strong reputations, excellent customer service, and competitive pricing. At Oegema, Nicholson & Associates, we have an extensive record of offering home and auto insurance in Ontario. If you need coverage, we can find the right insurance plan for your needs. After reviewing your current home and car insurance policies, our experts will help you compare and contrast different plans to find you the most competitive rates.

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Home Insurance Terms & Definitions

The insurance world is full of terms that help shape our understanding of coverage options and limitations. To get a better grasp of your policy, it’s helpful to know the terminology. Not only will this help you communicate more effectively with your insurance advisor, but will help you make more informed decisions, too.  

Actual Cash Value

This is the estimated cost to rebuild your home. It takes into account the age of your property, market depreciation and general wear-and-tear. This estimate is the maximum amount of money you’ll receive towards the reconstruction of your home.


This is the amount of money you must pay when putting forward a claim. In other words, it’s the portion of loss you’re responsible for. It’s important to clarify that only one deductible applies per claim. Let’s say your home suffers a serious flood, and all your personal items are destroyed. Not only will your house and belongings need to be replaced — but you’ll also need to stay in a rental while your home is being reconstructed. Even though multiple coverages are activated by the claim, you’ll only have to pay one deductible.


These are the items which are not covered under your insurance policy. Exclusions are typically categorized into three main types: policy, property and loss of use and liability. Under policy exclusions, your claim could be denied if you knowingly misrepresented facts about the property or conducted illegal activity from your home. Property and loss of use exclusions could include damage due to coastal flooding or failure to report a change in occupancy. Meanwhile, liability exclusions may include damage from war or acts of terrorism.


What is meant by home replacement cost in insurance?

Home replacement cost refers to the total amount your insurance provider will cover to completely rebuild your dwelling if it gets destroyed. It encompasses expenses beyond the property's resale value, including skilled labor fees, debris removal, and compliance with updated building codes. Factors like recent renovations and upgrades may increase the rebuilding expenses beyond the initial estimates. Homeowners should ensure their insurance policy covers the full replacement cost, guaranteeing financial protection in case of a catastrophic event. This ensures that you can rebuild your home to its previous state, regardless of any inflation or changing construction costs.

What constitutes high-risk home insurance in Ottawa?

High-risk home insurance in Ottawa applies to individuals with specific characteristics that may present greater challenges in finding adequate coverage. Factors that may label you as high-risk include being previously cancelled by an insurer due to non-payment or other reasons, having a high number of claims, residing in rural areas, living in an older or heritage home without electrical or plumbing upgrades, owning an empty home, or having multiple mortgages. Although being designated as high-risk doesn't prevent you from obtaining home insurance, it may result in reduced coverage, higher premiums, or limited payment options. Our team can assist you in securing suitable coverage tailored to your needs and family requirements. Request an Ottawa home insurance quote online to find the ideal protection for your home.

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"One call to Oegema, Nicholson Associates is all it took. After our basement flooded, within a day or two they had a crew cleaning everything up, taking down the drywall and itemizing everything to be cleaned, thrown out or restored. They had everything in place for us in a timely manner and were extremely patient with me as they talked me through the process and waited for me to make decisions."
J-Jennifer Parks, Stittsville, Ontario
"I’ve been dealing with ONA for over 20 years with my personal insurance, as well as our commercial insurance, and I know I can rely on them for great customer service, and prompt responses. I feel confident not only referring them to my employees, but to our customers as well."
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Saul Mendoza (Salty)
Saul Mendoza (Salty)
My broker Bill C. from ONA has helped me over the years now with my vehicle insurance. He is very cautious and detail oriented when processing documentation, and ensures I understand everything whenever there are any changes. He recently helped me cut my premium almost in half just by improving my record and shopping around at the appropriate time. I am grateful to him and the team for being there for me when I need them.
RMP Tutoring
RMP Tutoring
I was assisted recently by Greg, who did a wonderful job in not only answering all of my questions and helping me to review pre-existing insurance plans, as well as advising me to look into my credit card/group insurance before needlessly purchasing more. This to me speaks highly of the character of the employee and business of a whole, and it is certainly the one I will be going to for any future needs.
They get back to you fast an excellent insurance agent
lise sevigny
lise sevigny
Have been with Oegema for over 30 yrs. Always great service!
Jamie C
Jamie C
Friendly, knowledgeable and professional. They take care of all my insurance needs. Commercial, Home and Auto.
Bob Bent
Bob Bent
Great service on both commercial and personal lines.
Jennifer Bardwell
Jennifer Bardwell
I purchased commercial insurance with this company. Very professional service throughout, and a good price on the policy. Would highly recommend!
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Oegema, Nicholson Financial Inc.
1451 Woodroffe Avenue
Ottawa, Ontario K2G 1W1
5526 Manotick Main Street P.O. Box 149
Ottawa, Ontario K2G 1W1
154 Bridge Street P.O. Box 749
Almonte, Ontario K0A 1A0
243 Castor Street
Russell, Ontario K4R 1B8
3-3809 St. Joseph Blvd.
Orleans, Ontario K4A 0Z8
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