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What our users say:

January 28
This ppl are amazing and very…
This ppl are amazing and very understanding my situation. The costumers Services...
Glenda Amaya
January 28
Excellent service
Excellent service, very professional and helpful. Waiting for the response from ...
Nazira Rawjee
January 24
Excellent and efficient
Excellent and efficient, friendly service.
Lola
January 24
choice!!!!!
choice!!!!!
chrischristoff
January 23
It was quick and precise info which led…
It was quick and precise info which led me directly to lowest insurance premium ...
SLAWOMIRPODLESNY
January 22
There service is great
There service is great, I have no complaints. 👌
HeronBeckford
January 22
Great experience and got a good deal on insurance
Great experience gotta good deal on insurance an agent was very good at his job,...
OLIVER
January 21
Preparedness on behalf of contact team
Preparedness on behalf of contact team
TerryPetznick
January 20
Great customer service!
Great customer service!
Ron Zeraldo
January 18
The company was very quick and…
The company was very quick and efficient at getting someone to help me with a qu...
Susan
January 17
Very prompt service and friendly staff
Very prompt service and friendly staff
Roberta Boswell-Gobay
January 14
Excellent service
Excellent service, fast, easy and saved over $600 a year!!
RobTurner
January 13
Extremely quick and helpful response
Extremely quick and helpful response
KrisEggleton
January 12
Simple to use website.
Simple to use website. Range of prices for different companies . Very quick foll...
Roy Bucciol
January 11
Representative was very professional…
Representative was very professional and answered all my questions.
tek
January 6
Very professional and have patience…
Very professional and have patience answering my questions
ReynaldoBautista
January 5
timely response straitforward discussion.
timely response. straitforward discussion.
garnetmoore
December 31
Professional knowledgeable staff
Very quick response to my application. Professional knowledgeable staff. Smoot...
Jamie Hotrum
December 22
Barrett was extremely helpful and…
Barrett was extremely helpful and patient! I just moved back to Ontario and he h...
Leiah Otten

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Edmonton home insurance

Alberta’s Rocky Mountains and lavish lakes are a gift that Canadians (and the world) can enjoy. But beyond its lush greenery is the daily hum, and hustle and bustle of city life.

For those choosing Edmonton as their home, insurance is a must. Why?

While not mandatory, home insurance in Edmonton can help a homeowner cover:

Also, many mortgage lenders may require you to have Edmonton home insurance as part of your financing agreement.

The Alberta Superintendent of Insurance is responsible for all insurance sector regulatory compliance activities performed by the offices of Financial Sector Regulation and Policy, a division of Alberta Treasury Board and Finance.

These activities include receiving, reviewing and approving required filings, and performing examinations of institutions, interpreting legislation, and making recommendations to the President of Treasury Board and Minister of Finance with respect to insurance sector policy.

Different types of home insurance coverage in Edmonton

Standard homeowner insurance in Edmonton comes in four different forms: comprehensive, basic, broad, basic and no frills.

Home insurance coverages

1) Property and building: This coverage protects both the structure(s) on your property, as well as the property itself, from a variety of perils. Protected incidents include fire, theft and water damage, among others. Because some policies may require additional coverage for secondary structures, like a garage or guest house, consult your insurance provider if anything is unclear.

2) Contents and personal property: Contents and personal property coverage protects your possessions, such as furniture, clothing and sports equipment, against theft and vandalism. Some items, like fine art and expensive jewelry, may not be protected under a standard policy. Excluded items can be protected with additional coverage.

3) Additional living expenses: If you’re temporarily displaced by an insurable event, this protection covers your temporary housing costs. For example, if damage to your home forces you to spend a week at a hotel, additional living expenses protection will cover the cost of the room and food, up to a certain amount.

Liability coverages

1) Personal liability: This coverage provides protection against liability in the event someone is accidentally injured on your property.

2) Voluntary medical payments: If you unintentionally injure someone, or someone accidentally injures themselves on your property, this coverage will pay for the medical expenses for up to one year from the date of the accident.

3) Voluntary property damage: This coverage is for unintentional direct loss or damage you cause to someone’s property. It also covers unintentional loss or damage to someone else’s property by a minor (12 years or under) in your care.

While Edmonton is less exposed to the kind of environmental perils than other cities in Alberta, there are some endorsements homeowners and renters should consider including sewage backup, flooding and increased liability for your valuable items. Purchasing extra coverage will likely increase home insurance premiums for Edmonton residents, but it’s important to ensure that your assets are adequately protected. If they’re not, the costs of repairs and damages might outweigh the cost of additional coverage.

What kind of home insurance do you need in Edmonton?

Standard homeowners insurance in Edmonton comes in four different forms: comprehensive, basic, broad, basic and no frills.

Comprehensive - This type of insurance covers the building and contents from all insurable perils.

Basic or Named Perils - This policy insures your home and property for perils specifically named in your policy.

Broad - A broad policy insures your home for all risks as a result of direct damage or physical loss, but the contents are only covered against perils that you name in the policy. It’s considered a middle-ground between a comprehensive and basic policy.

No Frills - As the name suggests, it’s basic coverage for properties that don’t meet normal insurance standards.

While Edmonton is less exposed to the kind of environmental perils than other cities in Alberta, there are some endorsements homeowners and renters should consider including sewage backup, flooding and increased liability for your valuable items.

Purchasing extra coverage will likely increase home insurance premiums for Edmonton residents, but it’s important to ensure that your assets are adequately protected. If they’re not, the costs of repairs and damages might outweigh the cost of additional coverage.

How we find you the best home insurance in Edmonton.

Home, condo, or renters insurance is a type of insurance that covers loss and damages to your home and any assets in it. Home insurance also provides liability coverage against accidents that occur in or on your property. While home insurance coverage isn’t mandatory in Canada, you’ll be hard pressed to find a lender who will give you a mortgage without it. That’s why finding the right home insurance in Edmonton, Alberta is so important.

With LowestRates.ca, you can compare home insurance quotes from Edmonton’s top home insurance brokers and agents in just a few minutes. All you have to do is select your preferred quote, and an Edmonton home insurance provider will be in touch to help you secure it. Not ready to fill out a form? No problem. We answer some of the biggest questions you may have below.

Factors that determine your home insurance quote in Edmonton

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.

Risk factors for homeowners in Edmonton

While property insurance in Edmonton doesn’t differ greatly from property insurance in other cities, there are some specific risks to be aware of. For example, the province of Alberta is prone to wildfire damage, even though Edmonton is relatively protected from this issue, especially when compared to Calgary. However, Edmonton homeowners are vulnerable to other risks including:

Most home insurance providers in Edmonton won’t cover two kinds of risks: uninsurable perils and optional coverage:

Outline of a house. Illustration.

See how our customers save big on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from January 31, 2023
Type of home
Detached 1,905 sq ft
Location
Edmonton
Previous claims
None
Lowest Rate
$80/mth
$954/yr
Average rate
$137/mth
$1,648/yr
Saved
$58/mth
42.00%
Quote from January 30, 2023
Type of home
Detached 2,183 sq ft
Location
Edmonton
Previous claims
None
Lowest Rate
$74/mth
$890/yr
Average rate
$128/mth
$1,541/yr
Saved
$54/mth
42.00%
 

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

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.

Frequently asked questions about car insurance in Edmonton

How much is home insurance in Edmonton?

No two insurance products are alike. Most times, home insurance in Edmonton will be customized to the individual homeowner’s needs, neighbourhood, possessions being insured, and liability needs.

Home insurance quotes in Edmonton also depend on the age, construction, wiring and other items in and around your home. One of the easiest and fastest ways to get the best home insurance quotes for Edmonton is to fill out a form on a rate comparison site like LowestRates.ca. The details of your circumstance — your home’s location in Edmonton your risk tolerance, your deductible — play a major part in determining your home insurance rate. Also, home insurance companies underwrite risk differently. Insurance companies now weigh hundreds of factors to determine your premium, resulting in wide price variations. Rate comparison sites like LowestRates.ca simplify the process for you. We compare the home insurance market in Edmonton and show you rates from 15+ home insurance companies.

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

Living in a major city can be expensive, but finding cheap home insurance in Edmonton can help you cut costs. If you’re looking to lower the cost of your premium on your Edmonton home, you can:

  • Bundle insurance policies like home and auto.
  • Look into alumni or professional memberships for discounts.
  • Offer to pay a higher deductible.
  • Upgrade your home: replace knob and tube wiring, update valuable parts of your home like the kitchen or basement and replace lead pipes with copper or plastic.
  • Invest in a good security system.
  • Try to avoid living in areas that are known to be prone to floods, fires, or earthquakes.

Finding affordable home insurance in Edmonton doesn’t have to be a struggle. Whatever your method of getting the best rate, comparison shop before you buy so you can compare current home insurance rates from Edmonton providers.

Most places will ask you a series of questions about your home before giving an estimate. You’ll be asked your address, postal code, the size and age of your home, the type of roof, whether you have a deck or a basement, and the type of electrical wiring throughout your home. All this will ensure you get the correct rate and the appropriate amount of coverage.

What are the best home insurance companies in Edmonton?

What if I own a condo or rent? Can I still buy property insurance online?

You’re in luck! LowestRates.ca offers policies to renters and condo owners. If you’re on the market for either of these policies, you can actually fill out the property insurance form above and select the Condo Insurance or Renters Insurance option on the first page. If you’re looking for more information about either of these products, feel free to visit either our dedicated Condo Insurance or Renters Insurance pages.

Lisa Coxon

LowestRates.ca Staff

About the Author

The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.

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*Shoppers in Alberta who obtained a property quote on LowestRates.ca from January to December 2021 saved an average of 38%. The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes tenant and condo insurance.