Compare the best home insurance quotes in Medicine Hat for free.

Compare the lowest Medicine Hat property insurance rates, save up to 36%.*

Get quotes from 50+ Canadian providers in 3 minutes.

Compare rates from Canada's leading home insurance providers

24,940 Canadians

have compared rates and saved money over the last 24 hours

What our users say:

April 22
Your agent Nathan was amazing and so…
Your agent Nathan was amazing and so helpful.
Alecia O'Brien
April 20
They took some basic information and…
They took some basic information and had me connected to a broker within minutes...
Jennifer Maybue
April 19
Prompt response
Prompt response. Good info to make a decision. Helpfull that info was sent to ...
Margaret Bird
April 19
Sean was easy to talk too and very…
Sean was easy to talk too and very informative.
Angela
April 19
Good job
The staff was helpful and knew what were doing.
Franziska Pedersen
April 18
Francesco he is a very helpful…
Francesco he is a very helpful gentleman, and I’m happy with the discounts tha...
ANTONIO NUNES
April 18
I was connected with Ryan
I was connected with Ryan, who was patient in listening to my car insurance frus...
Betty Weintraub
April 17
Good pricing
Pleasant broker and helpful
Phyllis
April 17
filled out form online less than 5mins…
filled out form online less than 5mins called right away and setup call with bro...
ct
April 16
The Agent was very kind and helpful!
The Agent was very kind and helpful!
Istvan Kiraly
April 16
Great customer care she is good 👍
Great customer care she is good 👍
Anthony Odia
April 15
Simple and clear!!
Fast response ! Friendly knowledgeable staff!
Kent Fewer
April 15
great rep provided all the information…
great rep provided all the information I needed to make an informed choice
KAREN FOBERT
April 12
After I got the quotes somebody…
After I got the quotes somebody followed up with me and put me trough with an ag...
Stefan Ciucas
April 12
fast responce
fast responce, great people to talk to explaining everything, What a Great web s...
Larry Rowthorn
April 9
Very helpful advice and great overall…
Very helpful advice and great overall service.
mark
April 6
Easy to deal with and very helpful
Very easy, good use of technology and customer follow up was awesome
Steve Miller
April 6
Easy and friendly process.
Easy and friendly process.
shr
April 5
So good service ,,
So good service ,,, Tammy service me so so good
Son Nguyen

How comparing home insurance quotes works. Hint: it’s free!

Compare

Next, we’ll show you quotes from 50+ Canadian providers. It’s free, with no commitment.

Save

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

How we find you the best home insurance in Medicine Hat.

Chances are you’ve come to this page in search of cheap home insurance in Medicine Hat. Welcome! You’ve come to the right place.

You're not legally required to buy home insurance, but good luck getting a mortgage without it. Almost every lender in Medicine Hat requires proof of property insurance before they’ll lend you any money.

So, for the vast majority of homeowners in Medicine Hat, Alberta, home insurance is non-negotiable. But, choosing an insurance company can be difficult. There's a lot to think about.

We’ll cover some of the key considerations. For example, the kinds of risks that are unique to Medicine Hat homeowners, the types of insurance available to Albertans, and what it might cost you.

We’ll also explain why comparing home insurance companies before you buy a policy is important and how it can help you save money.

Outline of a house. Illustration.

See how our customers in Medicine hat save big on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from April 19, 2024
Type of home
Detached 1,099 sq ft
Location
Medicine Hat
Previous claims
None
Lowest Rate
$156/mth
$1,872/yr
Average rate
$269/mth
$3,228/yr
Saved
$113/mth
$1,356/yr (42.00%)
Quote from April 19, 2024
Type of home
Detached 1,615 sq ft
Location
Medicine Hat
Previous claims
None
Lowest Rate
$162/mth
$1,944/yr
Average rate
$378/mth
$4,536/yr
Saved
$216/mth
$2,592/yr (57.00%)
Quote from April 19, 2024
Type of home
Detached 1,058 sq ft
Location
Medicine Hat
Previous claims
None
Lowest Rate
$54/mth
$648/yr
Average rate
$207/mth
$2,484/yr
Saved
$153/mth
$1,836/yr (74.00%)
Home insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, Square One Insurance, and Wawanesa Insurance.
 

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

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 Medicine Hat

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.

Your home insurance questions, answered.

How much does home insurance cost in Medicine Hat?

Given the many variables that affect insurance — the age of your home, its condition, its location, your insurance history, and more — that’s a hard question to answer.

To get an accurate idea about how much home insurance is in Medicine Hat, we suggest applying for a quote. As with any product of this kind, it’s a good idea to get quotes from several different home insurance companies in Medicine Hat. Insurance companies underwrite risk differently, which results in a bit of price variance. You can easily see which insurance company is best for you by considering multiple quotes together.

What risks are specific to Medicine Hat?

Insurance is all about hedging risk. Catastrophic weather events are one risk that insurers watch out for — heavy rain especially. Medicine Hat is fortunate in that regard, since it’s one of the drier cities in Canada with average annual precipitation of around 13 inches, and that can help reduce premiums. Flood protection isn't included in base insurance policies, but you can add extra coverage to your policy for this risk in the form of an 'insurance rider.'

Another climate risk comes from forest fires. Medicine Hat is known as the sunniest city in Canada, but fortunately, it doesn’t experience excessively hot weather, so the risk of fires is not especially great. That again is an advantage for homeowners when it comes to the cost of insurance. Most insurance policies include fire coverage (minus ones that are intentionally set).

And finally, there’s also the risk of tornadoes, which can cause extensive damage to property. Medicine Hat lies in one of two large areas in Canada that are prone to severe tornadoes, which in turn will likely increase home insurance premiums in the area. Home insurance policies usually have wind coverage.

What risks can I get home insurance coverage for in Medicine Hat?

Home insurance policies vary, but generally, you’ll be covered for such events as:

  • Damage to your home from fire or water damage caused by burst pipes (provided you can show that you have kept your home in a state of good repair).
  • Damage or theft of personal possessions.
  • Theft of personal property from your vehicle.
  • Your personal liability if a visitor injures themselves on your property.
  • Your liability if you damage someone else’s property (e.g., if a fire that starts in your home damages your neighbour’s property).

What risks won’t home insurance cover in Medicine Hat?

While home insurance coverage is fairly broad, it won’t protect you from absolutely everything. You’ll still be on the hook for damage caused by the events including:

  • Earthquakes.
  • Floods.
  • Damage resulting from negligent behaviour (e.g., allowing your pipes to freeze because you were on vacation and forgot to turn off the water).

However, you can buy coverage for these risks at extra costs. Optional coverage is called an 'insurance rider.'

What kind of house insurance do you need in Medicine Hat?

There are four main types of insurance you can get when buying a home:

Comprehensive: Sometimes called a special or all-perils policy, this coverage protects your home and possessions against all insurable risks, except for specific ones that it identifies as “exclusions.” For example, your policy will likely name overland flooding, and earthquakes as exclusions and you won’t be covered for damage from those kinds of events. No insurance company includes earthquake or flood coverage in a base policy, comprehensive or not. You can buy special coverage for these risks in the form of an insurance rider. Comprehensive coverage will also guard your contents against all insurable risks.

Basic or Named Perils: This kind of insurance is the opposite of a comprehensive policy: it only provides coverage for insurable risks that are explicitly outlined in the policy. That means that if a peril isn't in the policy, you’re not covered.

Broad: A broad policy offers comprehensive coverage for the structure of your home and basic coverage for your contents. That means you’ll need to specify which perils you want your belongings protected from.

No-Frills: If you’re gutting and renovating a home, it may not be possible to get general coverage on it until you’re finished. In that case, you’ll want no-frills insurance. Sometimes referred to as basic fire insurance, this kind of policy will cover your structure from fire and a few other very basic risks until you qualify for broad protection.

You can extend your coverage beyond what a policy provides by obtaining an endorsement, which is an addition to your policy that specifies special protection. Base insurance plans don’t cover certain risks. Typical endorsements cover such things as earthquakes, flooding, sewer backup or loss of very expensive items such as precious jewellery (whose full value might exceed the amount of your existing policy).

What can you do to get the best home insurance rate in Medicine Hat?

There are a lot of things you can do to make home insurance in Medicine Hat more affordable. Here are a few tips:

  • Bundle your home and auto coverage to get a lower rate.
  • Increase your deductible, which will lower your premium.
  • Install safety devices, such as home alarm systems.
  • Stop smoking — insurers know that careless smoking is a major cause of fires.
  • Compare Medicine Hat home insurance quotes online.

What are the best home insurance companies in Medicine Hat?

There is no single insurance company that can claim to be “the best” for all homeowners since everyone’s needs are different. What matters is finding a company that will provide the right coverage for you at the right price.

But you should also think beyond the price of home insurance. Medicine Hat boasts a variety of providers, and you should do your due diligence on each of them. Check out company websites, research reviews on the internet, talk to friends and family and make sure that any company agent can answer your questions and concerns to your complete satisfaction.

Keep in mind that your friend’s experience with one insurance company may not be reflective of yours.

Fortunately, there is a wide range of home insurance providers operating in Medicine Hat. Here are some of the most prominent ones:

  • RBC Insurance
  • Belairdirect
  • The Co-operators
  • Wawanesa Insurance

You may also want to do some research on home insurance brokers in Medicine Hat as well, since insurance providers will often sell coverage through licensed brokers.

What is the average cost of home insurance in Medicine Hat?

It’s difficult to pin down current home insurance rates in Medicine Hat — for a few reasons.

Medicine Hat home insurance premiums are based on a range of factors, including the age of your home, where it’s located, what type of heating it relies on, and how many claims you’ve made in the past, just to name a few.

Plus, every home insurance provider has its own algorithm for calculating risk. Since there is no standard cost for homeowners insurance in Medicine Hat, the best way to find out how much home insurance is in Medicine Hat is to get an estimate online using a quoter like LowestRates.ca’s.

Lisa Coxon

Lisa Coxon

About the Author

Lisa is an Editor and Writer for LowestRates.ca. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.

Read More

Home insurance news

Read More Like This

*Shoppers in Alberta who obtained a home insurance quote on LowestRates.ca from January to December 2023 saved an average of 36% 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 condo and tenant insurance.