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Find the best Alberta home insurance

Shopping for home insurance in Alberta? A reliable policy helps you and all Albertans feel confident and comfortable knowing you are protected with proper home insurance.

With premiums on the rise, it has never been more important for Alberta residents to shop around for home insurance quotes. At ThinkInsure, we help thousands of customers get the best policies at the most affordable insurance rates.

The Prairies are a unique part of the country. You have the Rocky Mountains and beautiful foothills, oil and gas industry, and even ranching and rodeos. This is only scratching the surface. Hiking, skiing, and outdoor adventures attract many to the region. Regardless of where you live in the province or your property type, you need good coverage to protect it. Whether you are a condo owner, tenant or want a home insurance quote our Alberta advisors can help.

Getting proper home insurance in Alberta ensures you can protect your dwelling, family, and financial well-being. ThinkInsure works with the leading home insurance companies in Alberta and Canada so we'll find the best coverage for you for a great rate. You can quickly compare quotes online or speak with a home insurance advisor. Get personalized Alberta home insurance coverage and savings today.

How to get Alberta home insurance quotes

Get home insurance quotes from Alberta's top providers in just a couple of minutes.

1) Start your quote

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2) Enter your house details

Tell us about your house and property.

3) Compare rates

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5-star home insurance in Alberta

Rated 4.7 out of 5 stars in 1254 Google reviews

We’ve helped thousands of Albertans just like you find the right home insurance for their needs.

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eugene

2022-11-24 02:16:08

Todd did an excellent job helping me to switch car insurance. It was a smooth process and thanks to him the very next day I was covered. I’ve recommended Todd to all my friends. Thinkinsure is a great place for all your insurance needs. Thank you! P.S. It’s winter in Canada! Get your winter tires installed.

Ronaldo Marquez

2022-11-23 01:14:52

Neil Sullivan was so accommodating. He will assist you patiently from the quote up to the necessary documents needed for approval..awesome experience..

Mathan Sivapatham

2022-11-22 20:49:58

Neil is a great help! Two years in a row, he's been super helpful at getting me the best quote.

Nick J

2022-11-19 16:25:34

Great friendly and knowledgeable staff. Kimberly handled me getting a new policy when i was in a difficult situation. Outstanding work on her part. I would recommend thinkinsure 110% for all your insurance needs.

Sharren Patterson

2022-11-18 06:19:48

In what seemed like an endless search for better car insurance rates, I was relieved beyond measure when Denise Snider Phillips from ThinkInsure helped me close the deal. I worked with other brokers/agents, and something always went wrong. Denise followed up, as promised and sent documents as promised (without any surprise increases). I was able to e-sign quickly and easily, and Denise sent the temporary pink slips. She even followed up to make sure I'd received them. I am truly impressed and will be calling her when it's time to manage our house insurance.

Ya'aqob Ben Israel

2022-11-17 22:32:59

He help me find an affordable price under critical circumstances

Charlie Dantuma

2022-11-15 22:13:03

Great company. I was in a bit of a situation with my last insurer and I went to these guys for some help. I ended up speaking with Kimberly and she walked me through everything step by step and helped me sort everything out. She also helped me get insured for the best price with the coverage I wanted. For sure will be recommending you to everyone.

Mary Ientile

2022-11-09 02:00:35

I had the pleasure of dealing with a lovely young lady by the name of Lisa. She went thru both of my tenant and auto policies thoroughly. I felt she genuinely cared and tried to get the best rate for me. I felt valued as a customer and not just a number. She took her time and was quite patient and listened to me and my concerns and explained everything to me. She is quite an asset to your company. I am going to refer the company to my family and friends. Once again thank you Lisa

How does home insurance work in Alberta?

Home insurance in Alberta provides you with the financial protection you need. You never know when a peril like a thunderstorm, flood, or fire could destroy your property. It covers your home and contents against damage caused by an insured peril. There are several policy levels to choose from. You choose the plan that makes the most sense based on your needs and risk tolerance. Your payments increase for more insurance and higher limits. For example, basic plans are more affordable than comprehensive.

If your dwelling is damaged or you have a liability claim against you, file a home insurance claim. You pay your deductible, and your insurance company will cover the rest up to your plan limit.

Is home insurance mandatory in Alberta?

No. Home insurance in Alberta is not mandatory, but it is strongly recommended. There are too many threats not to have protection. Without a plan, you are putting your finances at risk. Plus, banks and other mortgage lenders will not give you a loan without proof of insurance. In this sense, it is required, unless you are mortgage-free.

How much home insurance do I need in Alberta?

Generally, you should have enough home insurance to cover the cost of rebuilding your home in Alberta. This amount will vary based on your home size and features. Your replacement cost will be listed in your plan. Most mortgage lenders require you to be insured for at least the amount of your mortgage.

You should also insure your property against loss or injury. Liability and contents insurance is recommended. The combination of these coverages will ensure you have maximum protection against a variety of threats.

What does home insurance cover in Alberta?

Your homeowners insurance in Alberta provides you with safeguards for:

Damage to your home: It will cover your dwelling structure and detached structures on your property (garages, shed, deck).
Loss of personal items: Coverage for all personal belongings on your property.
Legal liability: Get protection against lawsuits from personal actions and injury on your land.
Additional living expenses: Your policy covers you for living expenses if your home is severely damaged and unfit to live in.

What is not covered by Alberta home insurers?

There are exclusions in your insurance policy. It doesn’t cover everything. Some items are excluded because of your type. In general, the following are not included:

Wear and tear or neglect
Deliberate damage
Mould
Pest and infestation issues
Injuries caused by dangerous dog breeds, exotic pets.
Frozen pipes
Business activity
Some types of water damage

Review your policy to be clear about what is and is not included. If you are unclear, speak with your advisor.

What are the main types of home insurance in Alberta?

There are four main types of home insurance plans you can get in Alberta. They are basic, broad, comprehensive, and no frills. When comparing quotes, you can select one of the following:

Basic: This is also called named perils. It covers the perils that are outlined in your policy. You may have an option to choose what to include. This is generally the most affordable, but it also offers limited protection.
Broad: This covers your structure and contents. There are some exclusions. Your personal belongings are covered for what is specifically listed in your plan.
Comprehensive: You have protection from most threats. Overland flooding, sewer back up and earthquakes are not included. You can get extra coverage for these risks.
No Frills: This is for real estate that has insurability challenges (property or structural issues).

Optional and enhanced coverage options

There are a variety of plan endorsements to enhance your level of insurance. You can increase your limits of existing protection or add more when shopping for quotes. Optional solutions include:

Overland water coverage
Sewer backup insurance
Earthquake insurance
Coverage for personal valuables
Home sharing
Identity theft insurance
Lock replacement
Freezer food protection
And more

How much does home insurance cost in Alberta?

The average annual home insurance premium in Alberta varies based on many factors. Your location, home size, features, coverage needs and more all affect payments. You can expect to pay in the $800-2,000 range or more per year. This is comparable to Ontario home insurance quotes.

Get quotes for an accurate range of home insurance costs based on your unique living situation in Alberta.

Home insurance in Alberta Cities

Insurance premiums vary across the province. For example, the cost for Calgary home insurance will be different than Edmonton home insurance even if you were comparing similar homes. Your city, neighbourhood, and the number of potential threats in the area matter. You will pay more for a plan in areas with greater threats. Here’s how some of the top cities match up:

$1,182

$1,450

$1,505

$1,925

Alberta home insurance rates are increasing

Home insurance prices have been on a consistent rise over the past couple of years in Alberta. They did drop slightly in the last two quarters of 2020 but rose again in 2021:

Quarter	Percentage change
Q4 2021	+10.2
Q3 2021	+10.3
Q2 2021	+6.6
Q1 2021	+1.6
Q4 2020	-1.4
Q3 2020	-1.2
Q2 2020	+3.3
Q1 2020	+6.2
Q4 2019	+3.2
Q3 2019	+9.8
Q2 2019	+4.5
Q1 2019	+3.2
Q4 2018	+12.1
Q3 2018	+4.3
Q2 2018	+5.7
Q1 2018	+7.9

Source: Applied Rating Index - The Canadian insurance industry’s premium rate index.

Top factors affecting Alberta home insurance rates

The amount you pay for home insurance in Alberta is based on a variety of considerations. Individual insurance companies have a specific set of factors they use to decide your premiums. They include:

Location
Property type
Replacement cost
Construction type
Roof age and conditions
Renovations
Claims history
Pets, pools, and other liabilities
Use (business, home-sharing, etc.)

These factors can help to decrease, or they could increase your payments.

Alberta home insurance FAQs

What perils does home insurance protect in Alberta?

An insurance policy ensures you are financially protected in case of a disaster or other event. Here are some of the home insurance perils that may be covered under your policy in Alberta:

Fire and explosion
Water damage
Falling objects
Windstorms, lightning, hail
Theft
Vandalism

Speak with our experts to learn more about the perils included in your coverage.

What are common threats to Alberta homes?

Homeowners are at risk from three major home insurance threats in Alberta – flooding, wildfires, and extremely cold temperatures during the winter.

The province has experienced a series of significant natural disasters and weather events over the past decade. Before the Fort McMurray wildfires, the province experienced significant flooding in 2013. There was also another significant fire in Slave Lake in 2011.

Temperatures can dip to close to -50C, making it one of the coldest areas in the country. This increases the risk of frozen pipes, ice dams, and other winter weather-related damage.

Who regulates home insurance in Alberta?

Alberta Superintendent of Insurance (SOI regulates home insurance in Alberta. They are tasked with supervising underwriting, products, and the conduct of insurance companies in the province.

What is the Alberta home insurance act?

The Insurance Act outlines the rules and regulations in the province. All insurance professionals and providers must operate in accordance with this act.

Do I need home insurance for Airbnb rentals in Alberta?

Yes. You need proper home insurance coverage in place if you offer your property for home-sharing or short-term rentals in Alberta. Even though Airbnb does offer host protection, it is limited. Speak with your insurance company about what you need in place to offer your home on Airbnb. Some companies will not allow you to rent on home-sharing platforms.

Can insurers use my credit score to determine Alberta home insurance premiums?

Yes. Companies can use your credit score when determining your home insurance costs in Alberta. However, you must give them consent to do so. Offering up your credit score is optional. If you have a good score, it may be worthwhile to allow insurance companies to use it. You could qualify for a noticeable discount.

How do I cheap home insurance in Alberta?

Getting cheap home insurance in Alberta is not as complicated as you think. Here are a number of simple ways to get cheaper rates:

Get quotes: We can help you review quotes from multiple insurance companies.
Review annually: Ensure you have the right amount of insurance.
Invest in home security: Investing in security will qualify you for a discount.
Stay claims-free: Having a claims-free insurance record will help lower costs.
Increase your deductible: Increasing your deductible will lower your insurance.
Ask about discounts: Asking your provider about available discounts could qualify you for lower premiums.
Bundle: Combine your home and car insurance in Alberta to save on both.

Alberta housing and home insurance stats

The makeup of the Alberta housing market has a big impact on home insurance requirements. Much like in other provinces, housing costs are on the rise. Alberta has a higher homeownership rate than the national average. Here is an overview of the housing market:

Home sales year over year change (2021-2022)	Average price	Year over year change (2021-2022)
4.8%	$472,746 (April 2022)	7.1%

Types of homes Alberta residents live in

Dwelling type is another big factor that influences insurance. Your premiums increase as the size and value of your property and the amount of personal belongings goes up. Here is an overview of the types of households in the province.

Type Of dwelling	Amount
Homeownership rate	72.40%
Number of private dwellings	1,527,680
Single-detached house	61.9%
Apartment buildings 5+ stories	4.1%
Apartment buildings with less than 5 stories	15%
Duplex	2.8%
Other dwellings	16.5%

Comparing Alberta home insurance quotes is easy

Buying your first home? Is it time to renew? Getting a home insurance quote can help Albertans compare options and save money. Compare home insurance quotes from the top providers in Alberta instantly. Compare quotes online or call a ThinkInsure home insurance advisor to get more affordable rates today!

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2022-10-31

Compare Alberta Home Insurance Quotes

Find the best Alberta home insurance quotes from the top home insurance companies and get a better rate.