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What our users say:

Excellent
Based on 335 reviews
August 31
very quick and reliable rates
very quick and reliable rates
Tracie N
August 15
Don’t hesitate to move your policy
My rates went up again with my current insurance even though I have barely drive...
IGADS
August 12
I can’t believe how quickly I am…
I can’t believe how quickly I am getting email responses. Very happy with this...
Carol
July 25
Awesome 👍😎
Awesome 👍😎
Joshua Leong
July 15
Auto Insurance
I was looking for an insurance rate that would help me save money, I did a Googl...
Louise Beaton
July 1
excellent service
excellent service
An Luu
June 22
Highly recommended
Excellent customer service. Was very patient and answer my customers toughly. Fo...
Karan Parmar
June 18
Chelsea was very helpful
Chelsea was very helpful, answered all my questions and set me up hassle free. S...
Chris
June 14
its the easiest thing in the world to…
its the easiest thing in the world to find insuance that isn't going to burn the...
ann watson
June 11
Very nice broker
Very nice broker. Good service. Found a great deal.
Meredith Berggren
June 5
Awesome work
wow what an awesome rep. He did up everything, extremely fast and was very under...
Delroy Paul
June 4
It was a pleasure dealing with your…
It was a pleasure dealing with your broker, it made switching insurance companie...
Michael Sheridan
May 26
Quick service
Quick service, good price
dl
May 22
Imad Harrouk was great !
Imad Harrouk was great ! intelligent well spoken professional polite a perso...
james bannon
May 21
Imad Harrouk helped me get the best…
Imad Harrouk helped me get the best home and auto bundle insurance quote. He was...
Amanda Moskowitz
May 20
Excellent !!! Very competitive rates !!
Excellent customer services also they have very competitive rates !!
Eliza Gallant
May 18
I was treated fairly and walked through…
I was treated fairly and walked through my purchase.I enjoyed the agent was exce...
paul neville
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 11
Easy
Easy, clear and fast. Very effective.
Rene Izquierdo de la Cruz
May 6
Sonia was very helpful and nice…
Sonia was very helpful and nice throughout the whole process. She got me the bes...
Ali Al-Rubayee

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When you find the best quote, secure your Alberta home insurance rate by talking to a licensed broker or agent.

How we find you the best home insurance quotes in Alberta.

Safeguarding your home with insurance is important, but choosing the right insurer and the right policy can be confusing. That’s where LowestRates.ca comes in.

We search the market to find you the best deals on home insurance. Comparing the market is important — different companies can offer you different rates because they model risk differently and their coverage offerings can vary greatly. The quote you get with one company is not always indicative of what another company might be able to offer you.

When you take the time to shop around, you’ll see whether you’re overpaying and whether other companies are willing to give you a better rate. We’ll automatically connect you with the broker that’s offering you the best rate.

Outline of a house. Illustration.

See how much you could be saving on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from September 17, 2021
Type of home
Detached 1,012 sq ft
Location
Calgary
Previous claims
1
Lowest Rate
$79/mth
$948/yr
Average rate
$162/mth
$1,944/yr
Saved
$83/mth
51.00%
Quote from September 16, 2021
Type of home
Detached 1,012 sq ft
Location
Calgary
Previous claims
1
Lowest Rate
$106/mth
$1,275/yr
Average rate
$188/mth
$2,256/yr
Saved
$82/mth
43.00%
 

Tips on how to lower the cost of your home insurance policy in Alberta

Getting insurance for your home is easier than you think. To get the lowest rate possible, the Financial Consumer Agency of Canada recommends following these steps when shopping for home insurance.

Compare home insurance quotes from various providers.

Ask your broker or agent about bundling your home and car insurance policies.

Ask your broker or agent about which discounts you qualify for.

You might be able to further reduce your by increasing your deductible (the amount you pay toward a claim before your insurance kicks in) and by offering to pay your insurance bill annually instead of monthly.

Increasing your deductible is a great way to save on home insurance in the short term, just make sure you have money reserved for this purpose. Focusing on finding cheap quotes isn’t always a good idea. Having the right amount of coverage — now that should always be the goal.

Factors that determine your home insurance quote in Alberta

Your home insurance policy will be customized to suit your needs and the property you’re insuring.

Home insurance premiums are determined by dwelling type (is it a single-detached home, a house with a basement tenant suite, or a condo?). Insurance companies also try to predict the kind and size of claim you might make in the future.

Here are some of the criteria insurance companies look at when calculating your premium.

  • The square footage of your home.
  • Contents and quality of construction.
  • The location of your home.
  • Distance to a fire hydrant.
  • Your insurance claims history.
  • The age of your roof.
  • Your home’s plumbing.
  • Your home’s electrical system.

What you need to know about home insurance in Alberta.

 

What affects home insurance rates in Alberta?

The criteria that insurance companies consider is basically the same across the country — meaning, the guidelines for homeowners in Alberta are the same in any other province or territory.

A number of factors are used to determine the cost of home insurance. The major thing that insurance adjusters look at is how much it would cost to replace your home, contents included. Insurers only cover the cost to replace the structure and contents of your home — your benefit is not based in any way on the current market value of your home.

Where you live has a big impact on your premium. Insurance is pooled risk, so neighbourhood demographics, as well as its claim history, matter. However, your personal claims history carries more weight.

The topography of your neighbourhood is another factor, too. If you live near a lake or river, your adjuster will definitely take that into account, since there's an increased risk of flooding. Living close to a fire hydrant, as most urban dwellers do, can have a positive impact on your premium.

Of course, insurance companies calculate risk differently and that can result in different rates. That’s why it’s important to shop around.

Risk factors in Alberta

Alberta is a large, geographically diverse province that’s susceptible to extreme weather events year-round. Municipal governments have outlined some of the following perils as ones that Alberta homeowners should be especially mindful of.

Flooding

Flooding is a major concern in Alberta. There’s a lot of development on the banks of the Bow and Elbow rivers, both of which flow through Calgary, so even residents of urban neighbourhoods need to be on the alert.

There are three types of floods that Albertans may be exposed to:

Overland flooding

Overland flooding occurs when water overflows from creeks, streams, rivers or lakes. It can creep into backyards or garages, or basements, or spread into the streets. In Alberta, this happens during the spring thaw, when frozen catch basins, storm drains, and piled snow begin to thaw and melt, accelerated by spring rains.

Regions at highest risk: Most of southern Alberta. Communities that have been hard hit recently include the City of Calgary, the Municipal District of Taber, Lethbridge County, Vulcan County, Willow Creek, and Forty Creek County.

Basement seepage

Basement seepage happens when the level of the underground water table under a home rises. Water seeps through the soil and eventually into the foundation of your home through cracks or holes or joints.

Regions at highest risk: All of Alberta — all homes are technically at risk for basement seepage.

Sewage backup

Sewage systems can be overloaded when overland flooding occurs. It can force sewage back through the sewer line and into your basement.

Regions at highest risk: All of Alberta — anyone’s basement is at risk for sewage backup.

Forest fires

Increased development and urban sprawl has meant that local governments in Alberta have had to suppress naturally-occurring wildfires. This means that there’s an overabundance of old vegetation, a huge fire risk. Development paired with a changing climate means that large-scale forest fires are fast becoming a normal occurrence every summer in Alberta.

Regions at highest risk: Communities within the Boreal forest region of Alberta — which covers 58% of the entire province — are highest at risk for forest fires. Population centres include Fort McMurray and Fort Vermillion.

Extreme cold

Alberta winters are frigid and frozen water lines and pipes are a common occurrence. Thawing pipes can burst, creating a flood risk.

Regions at highest risk: Arctic air masses deliver sub-zero temperatures to every corner of Alberta. Temperatures can dip to -46C to the south and -54C in the north.

What kind of coverage do you need in Alberta?

There are four types of coverage:

Comprehensive - The highest level of coverage you can purchase. It insures the building and its contents against all risks, except for ones that are specifically excluded.

Broad - Offers coverage for building and some of its contents.

Basic - Only provides coverage for some perils.

No-Frills - Offers basic coverage for properties that are hard to insure (e.g., homes that have numerous structural issues).

Forest fires are covered by home insurance policies, and that also covers some expenses you might incur if you’re ever forced to evacuate your home. You may need to purchase additional insurance coverage, called an endorsement, for overland flooding. Endorsements for flooding were once difficult to purchase, but insurers are beginning to offer it.

Other considerations unique to Alberta

In Alberta, home insurance providers are allowed to take your credit score into consideration when determining your premium. Insurance companies maintain that insurance risk is correlated to credit scores. Consumers must give their consent to brokers or agents to look at their credit scores, so revealing your credit score isn’t actually mandatory. If you have a high credit score (generally considered to be 650 or over), an insurer may offer you a substantial discount on your insurance. The reverse is true for people with low credit scores — it may jack up your rate. There’s also the chance that insurers will hike your rate if you choose not to disclose. Not all insurers look at credit scores, but the practice is becoming increasingly common.

Who regulates the home insurance industry in Alberta?

Watchdogs at both the provincial and federal levels oversee the insurance industry in Alberta.

On the federal level, the Office of the Superintendent of Financial Institutions monitors the solvency and financial soundness of property and casualty insurers in the province. The Alberta Superintendent of Insurance is in charge of supervising the conduct, products, and underwriting practices of insurance providers operating in the province.

What can you do to save on home insurance in Alberta?

There are a few ways homeowners can reduce the cost of their home insurance premium:

  • Allow insurers to run a credit check: In Alberta, your broker may offer you a lower rate if you have a high score.
  • Bundle your home insurance with your auto insurance policy: Insurers offer additional discounts for people who have more than one insurance policy with them.
  • Compare quotes: Shopping around online is a risk-free way to find a competitive rate.
  • Pay annually: Insurance is slightly cheaper when you forgo monthly payments in favour of one lump sum payment annually.
  • Raise your deductible: If you offer to shoulder a larger share of the cost of a claim, your premium will naturally be cheaper.
  • Adjust your coverage: Not everyone needs a comprehensive insurance policy. Explore your options with a broker or agent to see what’s best for you.
  • Catalogue everything you own: Knowing exactly how much it would cost to replace your home’s contents will ensure you don’t overpay to insure them.

Which companies offer the best home insurance in Alberta?

That’s largely subjective — everyone’s needs are different. Here’s a list of some of the home insurance companies operating in Alberta:

  • TD Insurance
  • Alberta Motor Association
  • belairdirect
  • Intact Insurance
  • The Co-operators
  • Aviva

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