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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

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3) Compare rates

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5-star home insurance in Alberta

Rated 4.7 out of 5 stars in 1273 Google reviews

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

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Simon Mak

2023-02-23 02:13:38

Neil provided great broker service. Will definitely return to ThinkInsure.

Haile Baheta

2023-02-16 02:24:59

I have the pleasure to renew my Automobile Insurance with Kimberly Ladis of ThinkInsure . She was great in finding me the lowest price with a reputable company. She is kind ,efficent & professional. I will recommend her to everyone I know.

Shannon

2023-02-08 20:16:36

I had the pleasure of getting Evan V. as my broker. What set him apart from others I have spoken to was his knowledge. He answered all of my questions promptly and taught me about my specific insurance needs. He was very professional and kind. I felt better after speaking with him.

Caitlin MacFayden

2023-02-02 18:06:04

I had the pleasure of dealing with Neil. I was completely lost when looking for the type of car insurance I needed. Neil was extremley patient with me and walked me through everything.He was available at any time and had answers to all my questions. Thank you for this amazing experience!

tremari

2023-02-01 05:11:36

Pooyan Saeidi has a top-notch customer service skill, very fast service, prompt in answering your email. He will always call to check if you got what you want. He will give the best advice on all your insurance needs and explain in a layman’s term, very friendly and accommodating even if he has to explain for the nth times. 101% rating for his service quality.

Theresa

2023-01-28 05:28:47

I don't know where to begin but I'm so glad that I got Evan Venditti as my advisor. He earned my respect for choosing integrity over personal gain. While I went with a different firm, it was his suggestion that led me to saving hundreds of dollars on auto insurance. He explained that the companies they work with cater to a particular demographic I'm not exactly a part of. He's pretty well versed and insightful. He spoke on a level that I understood. I love that he gave me time to call a couple of other places first before proceeding with his quote. I called those places and went with one of them since I got a lower quote. With all the chaos that's going on in my personal life, this made me emotional. If somehow I took different steps that day and I didn't come across this guy, I'd be paying so much more on insurance. So although I'm not a client, just want to take this time to share this phenomenal experience!

Michelle Spencer

2023-01-19 16:21:03

Evan Venditti has been absolutely amazing and extremely helpful! Always following up to make sure that I am updated on any changes to my policy. He also made the process of obtaining a policy so easy! 10/10 recommend. Hopefully you will get the chance to work with him!

Jaden Moore

2023-01-10 20:04:35

Great customer service.! Quick and efficient. I worked with Denise Snider. She was great with getting me a cheap quote, she sent payment info, and paper work right away. Papers were signed within 24h and insurance was confirmed. I am a high risk driver, who can’t get insured anywhere else due to accumulation of tickets. 10/10 recommend!

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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2023-03-15

Compare Alberta Home Insurance Quotes

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