Compare the best home insurance quotes in Red Deer for free.

On average, Red Deer homeowners save hundreds of dollars per year by comparing quotes with us.

Get quotes from 75+ Canadian providers in 3 minutes.

Compare rates from Canada's leading home insurance providers

How we find you the best home insurance in Red Deer.

Got a mortgage in Red Deer? You need home insurance. A home insurance policy usually covers four types of incidents: interior damage, exterior damage, loss or damage of personal assets or belongings, and injury that arises while on the property (or any damage that you cause to someone else’s property).

LowestRates.ca can help you find the right home insurance for your Red Deer, Alberta property by shopping the Canadian home insurance market for you. Our service aggregates home insurance quotes for Red Deer online in less than three minutes.

Next, we’ll connect you with the Red Deer home insurance broker or agent who can secure your new, cheaper rate. Depending on which company offers you the lowest rate, you may even be able to securely lock in your new policy online.

We update our home insurance rates throughout the day, every day to ensure we bring you the most current Red Deer home insurance rates.

Not ready to start an application to get your lowest Red Deer home insurance rates? We’ve covered some of the basics below. Understanding how home insurance works can help you shop smarter. When you’re ready, enter your postal code. Then watch the savings roll in.

Outline of a house. Illustration.

See how much you could be saving on home insurance.

Type of homeLocationPrevious claimsLowest RateAverage rateSaved
Quote from June 11, 2021
Type of home
Detached, 1,815 sq ft
Location
Red Deer
Previous claims
None
Lowest Rate
$1,207/yr
Average rate
$2,494/yr
Saved
52.00%
Quote from June 10, 2021
Type of home
Townhouse, 1,116 sq ft
Location
Red Deer
Previous claims
None
Lowest Rate
$630/yr
Average rate
$1,163/yr
Saved
46.00%

What our users say:

Excellent
Based on 322 reviews
June 5
Awesome work
wow what an awesome rep. He did up everything, extremely fast and was very under...
Delroy Paul
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 17
Highly Recommended !
I spoke with Mr. Imad Harrouk of DirectRate for quotes on my car and condo insur...
HL
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 13
Amazing service
Amazing service, Sonia is patient and helpful. Can not complain. I am happy with...
Miroslav Adalbert Elias
May 12
Meghan Ford helped me and she was…
Meghan Ford helped me and she was amazing. I saved $160/month between home and a...
Bruce
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
May 6
I got a hassle-free quick quote from…
I got a hassle-free quick quote from good insurance companies. This site is very...
Sisil
May 6
Very friendly and professional
Very friendly and professional. She always try to help. Really appreciate.
Binod Shrestha
May 5
Imad was extremely helpful and patient…
Imad was extremely helpful and patient with all our requests. He listened to our...
Guy St-Pierre
May 5
He was so amazing
He was so amazing. He went out his way to help me. He deserves a raise Very po...
Shahin Abbaskhan
April 27
Great rates!
Ryan was very helpful and polite.He went all out to find me the best rate. He wa...
Linda Shelton
April 22
Wonderful experience!!!
My call started off with simple inquiries about the quote i recieved. I spoke wi...
emily murray
April 22
The service was excellent
The service was excellent. Emad provided awesome service for me.
John Bowden
April 19
Fast and professional customer service
Fast and professional customer service. All of my questions were answered and I...
P COSTANTINI
April 16
Chelsea was very helpful and a pleasant…
Chelsea was very helpful and a pleasant person to deal with.
Keith Tarala
April 16
simple quick and easy
simple, quick and easy
tony palumbo
April 16
Daina is very professional and very…
Daina is very professional and very helpful! Helped me find auto and home insura...
Mark
April 15
Amazing Service
Daina was amazing so quick and easy and explained everything so so well! I was ...
Tara Schaffner
March 30
You will be hard pressed to find an…
You will be hard pressed to find an online service as accurate, fast, and easy t...
Frederick Armentia
March 25
Searching lower rates for Auto and Home Insurance
I got a good response in looking and finding from several Insurance brokers and ...
Jose Mastromonaco
March 22
Thanks to Mr Imad Harrouk
Thanks to Mr. Imad Harrouk, he helped me get the lowest rate with the insurance ...
Virgo Baby
 

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

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 Red Deer

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 Red Deer home insurance questions, answered.

How much is home insurance in Red Deer?

Trying to estimate the cost of insurance for your home in Red Deer? Every homeowner's insurance policy will be different, therefore the cost of home insurance for Red Deer residents will vary. When shopping for insurance in Red Deer, homeowners should use online tools such as comparison sites to apply for an insurance quote for a general sense of the potential cost and shop for the best deal.

Insurers weigh a multitude of risk factors to determine your Red Deer home insurance premium, which is why you’ll see some variation in price when you compare quotes. This is also why it’s unlikely you will pay the average cost of Red Deer home insurance.

Insurance companies analyze your individual risk profile to figure out how likely it is that you will need to file a claim.

For example, where you live has a big impact on your premium. Insurance companies want to know about the age and structural quality of the property you're looking to insure, as well as your home's distance from services like fire departments. Insurance companies look to these data points to understand your neighbourhood’s unique circumstances and how likely it is that you may have to file a claim.

Another thing that may impact your risk profile is your personal claims history. Past claims are often an insurers’ best predictor of future claims activity.

To find out what prices several Red Deer home insurance companies charge, we recommend applying for quotes from multiple Canadian insurance companies.

What risks are specific to Red Deer?

Severe storms have caused millions of dollars worth of damage in Red Deer and its surrounding areas, so it’s important to understand the area’s weather risks to ensure you have adequate insurance coverage for your Red Deer home.

Flooding. Red Deer officials declared a local state of emergency after a thunderstorm in 2017 resulted in more than $30-million in insurable damage. Massive floods in Alberta that affected Red Deer and surrounding areas in 2013 were the second most costly disasters in Canadian history for insurers, resulting in $1.8 billion in insured damage.

Wildfire. Wildfires in Alberta have burned more land in 2019 than any year in the past four decades, according to data from Alberta Wildfire. If residents have to leave because of a mandatory evacuation order, most home insurance policies will provide coverage for additional living expenses for a specified period of time.

Wildfire smoke. Smoke from the wildfires causes poor air quality and reduced visibility. Furniture, walls, and windows in your home can also be damaged, so some insurance to protect your contents might be valuable.

Storms. Instances of severe weather such as tornadoes, windstorms and hailstorms were also up in 2019. Home insurance covers damage to the structure of the building, broken windows, damaged contents and cleaning up debris from the wind.

Snow and ice. Winters in Red Deer are freezing, dry, and windy. Heavy snow and freezing weather can cause damage to property from falling ice and flying debris, and potentially to contents, from burst water pipes. As insurance guidelines vary between insurers, Red Deer residents are advised to check with their provider on their current level of coverage or limitations.

What risks does home insurance cover in Red Deer?

Generally speaking, home insurance covers the following risks:

  • Fire is covered, but only if it was accidental or caused by external elements.
  • Water damage coverage includes protection against sudden and accidental water damage caused by events, such as (but not limited to) the escape of water from a waterbed, aquarium or appliances or heating, plumbing, sprinkling, and ruptured air conditioners. Water damage is generally not covered when it's the result of overland flooding. However, some insurers are now offering overland flooding coverage, but you have to pay extra for this coverage.
  • Home insurance policies offer personal liability which can protect you if you’re robbed while away from home.
  • Vandalism coverage applies to unoccupied homes but not to vacant homes. An unoccupied home still contains the personal property of the policy owner, but the property owner is absent.

What risks won’t home insurance cover in Red Deer?

Unfortunately, events that your insurance company considers predictable and related to the maintenance of your home aren't covered.

  • Water damage isn't covered if it’s from a source outside your home, such as overland flooding.
  • Sewer backup typically isn’t covered. Sewers can back up during periods of heavy rainfall, when the city sewer system can’t handle excess water, causing it to overflow into your home. Installing a sewer backwater valve to prevent sewer backup from flowing into your basement.
  • Internal water damage from burst pipes due to the very cold winters. Occasionally, burst pipes are covered when it’s sudden and accidental.
  • Earthquakes and other natural movements of the earth are not typically covered by insurance policies.

What kind of house insurance do you need in Red Deer?

The following are the four basic types of home insurance:

Comprehensive - Also referred to as a special or all-perils policy. A comprehensive policy provides the most coverage. It covers all risks to your home and contents except for any risks named in your policy as exclusions.

Basic or Named Perils - Also known as a standard policy it only covers the risks to your home and contents that are named in your policy.

Broad - Also referred to as a broad-form policy. A broad policy covers the structure of your home against all insurable risks, minus all the standard exclusions (e.g., overland flooding, earthquakes, intentionally-set fires, etc.). Your contents, however, are only covered against risks that you specify. A broad policy is a cross between a comprehensive and a named perils policy.

No-Frills - A no-frills policy provides the least amount of coverage. It offers very basic coverage for homes that don’t meet the usual standards for insurance. For example, if your home has physical issues or is being remodelled an insurance company may only offer you a very limited no-frills policy.

Red Deer residents can use the following insurance endorsements to manage risks that are not covered as an add-on to their policy at extra cost:

  • Overland flood insurance. Overland flooding happens when rivers or lakes overflow their banks due to heavy rainfall or melting snow and ice.
  • Earthquake insurance covers loss and damage to your home and contents. It may also cover additional living expenses if you can’t live in your home after an earthquake.
  • Guaranteed replacement cost ensures that you receive the full amount needed to repair your home or replace contents, without any reduction for depreciation, to the limit insured. For example, if someone steals your old TV, your insurance provider will pay for a new one of similar make and quality.

What can you do to save on home insurance in Red Deer?

Insurance premiums vary depending on your age, the type of coverage, the amount of coverage, your insurance history, and other factors.

Insurance companies are all about risk assessment. The higher the risk a client presents, the higher their premiums will be. Still, there are ways to make your Red Deer home insurance premiums more affordable.

  • Bundling home and auto insurance.
  • Installing a security system and smoke alarms.
  • Seniors’ discount or other discounts based on age
  • Membership or employment with particular organizations, like unions or post-secondary institutions, can get special lower rates for group coverage.
  • Loyalty discounts for existing insured clients.
  • Shopping around and comparing Red Deer home insurance quotes.

Some consumers prioritize getting a cheap home insurance rate for their Red Deer home. We say to focus on getting the right amount of coverage, even if it does increase your premiums. The cost of paying for repairs out of pocket may exceed any savings realized from underinsuring your property.

The best home insurance rate for your Red Deer property is budget-friendly and provides adequate coverage.

What are the best home insurance companies in Red Deer?

There are a number of factors to consider when picking your insurer.

Every insurance company sets up its own claims process so it’s best to do your own research and choose a reputable company and broker to review the right policy for your property, location, and financial needs.

These are some other things to consider when you’re picking an insurance company:

  • Contact the Alberta Superintendent of Insurance to verify that a company or agent is licensed and in good standing.
  • Verify whether complaints have been made against them with the Alberta Insurance Council.
  • Pick an agent or broker that takes the time to answer your questions and doesn’t try to pressure you into signing right away.

Here’s a list of some of the major home insurance providers operating in Red Deer:

  • Wawanesa
  • Aviva
  • The Co-operators
  • Sonnet
  • Desjardins

What about property insurance for Red Deer condos or apartments?

LowestRates.ca can help you find insurance coverage for both property types. Enter your postal code above and specify whether you’re looking for condo or renters insurance. Our comparison service works the same as it does for home insurance.

Alexandra Bosanac

Alexandra Bosanac

About the Author

Alexandra Bosanac is the Core Content Manager for LowestRates.ca. Her reporting has appeared in Canadian Business, the Toronto Star, the National Post, and the CBC.

Read More

Home insurance news

Read More Like This