Buying a home in Calgary is one of the biggest investments you'll ever make — and once those keys are in your hand, protecting that investment becomes entirely your responsibility. But are you truly prepared for the unexpected?
Alberta homeowners face a unique set of risks that make getting your insurance right especially important. From hailstorms and wildfires to spring flooding and brutal cold snaps, our province keeps insurers busy. And with average annual premiums in Calgary sitting among the highest in Alberta, it's worth taking the time to make sure you're getting the right coverage at the best possible price.
Don't just rubber-stamp your renewal every year. How you live in your home, what you own, and even the risks specific to your neighbourhood can change. Here's a practical guide to help you get the most out of your homeowner's insurance.
Consider raising your deductible. A higher deductible means a lower premium, but it also means more out of pocket when you make a claim. As a general rule, avoid making claims under your deductible threshold, since a claims history can push your rates up.
Maintain a good credit score. The better your credit score, the less of a risk you are considered to be, and your home insurance rates in Calgary will reflect this.
Review your policy and possessions annually. Major purchases, renovations, and depreciation can all affect how much coverage you actually need. Don't pay for coverage you no longer need, and don't assume you're covered for things you've recently acquired. Don't forget the riders on high-value items like jewelry, electronics, and artwork. Certain high-value items may require a separate policy or rider to be fully covered.
Look into group membership discounts. Are you an AMA member, part of a professional association like APEGA, or an alumni of a Canadian university? Some insurers offer exclusive discounts to educators, university alumni, and members of certain professional groups. It's always worth asking.
Upgrade older systems in your home. Opting for safer plumbing, heating, and electrical systems can help lower your rate. This is especially relevant for Calgary's older communities where aging infrastructure can increase your risk profile.
Make payments electronically. Many insurers now charge a fee for mailed or paper payments. Setting up automatic payments is a simple way to trim a small but unnecessary cost.
Reconsider a pool or hot tub. These may or may not affect your premium depending on your insurer, so talk to your agent before you install one, and discuss safety measures if you already have one.
Give up smoking. Smokers pay more for home insurance due to an elevated risk of fire-related claims. If you've recently quit, let your insurer know, as it may lower your premium.
Check your dog breed policy. Certain breeds can cause your insurer to increase your rate or even decline coverage. Find out before you adopt, and if your dog has completed obedience training, mention that to your agent as well.
Calgary and Alberta come with some insurance considerations that don't apply everywhere in Canada. Make sure you've asked your broker about each of these.
One More Must-Do: Document What You Own
This tip won't save you money on your premium, but it could be invaluable if you ever need to make a claim. Take photos and video of your belongings, especially any unique or high-value items, and store that documentation somewhere other than your home. Cloud storage works great for this. It can make a complicated claims process much smoother.
As always, this article is meant as a general guide to help you have a more informed conversation with your licensed insurance broker. It is not insurance advice. Every homeowner's situation is different, and a qualified Alberta insurance professional can help you find the right coverage for yours.
Alberta homeowners face a unique set of risks that make getting your insurance right especially important. From hailstorms and wildfires to spring flooding and brutal cold snaps, our province keeps insurers busy. And with average annual premiums in Calgary sitting among the highest in Alberta, it's worth taking the time to make sure you're getting the right coverage at the best possible price.
Don't just rubber-stamp your renewal every year. How you live in your home, what you own, and even the risks specific to your neighbourhood can change. Here's a practical guide to help you get the most out of your homeowner's insurance.
Quick Tips Every Calgary Homeowner Should Know
Shop around, seriously.
Quotes can vary by hundreds of dollars for identical coverage on the same home. Each company uses a proprietary formula to calculate risk, so what was cheapest for your neighbour may not be cheapest for you. Get at least three quotes, make sure you're comparing the same coverage, and don't forget to include your current insurer in that comparison. Sometimes a brand new policy with them is better value than a renewal.
Bundle your home and auto policies. Getting your home insurance from the same provider that covers your vehicle typically earns you a discount in the neighbourhood of 15%. It's one of the easiest savings available.Consider raising your deductible. A higher deductible means a lower premium, but it also means more out of pocket when you make a claim. As a general rule, avoid making claims under your deductible threshold, since a claims history can push your rates up.
Improve your home's security and safety.
Many home insurance companies in Alberta offer discounts for safety systems, including centrally monitored alarm and fire alarm systems. Ask your insurer specifically what qualifies, as not every system is eligible.Maintain a good credit score. The better your credit score, the less of a risk you are considered to be, and your home insurance rates in Calgary will reflect this.
Stay with the same insurer, but keep shopping.
Long-term loyalty can earn you premium discounts. That said, don't assume loyalty automatically means the best deal. Periodically compare your rate against competitors.Review your policy and possessions annually. Major purchases, renovations, and depreciation can all affect how much coverage you actually need. Don't pay for coverage you no longer need, and don't assume you're covered for things you've recently acquired. Don't forget the riders on high-value items like jewelry, electronics, and artwork. Certain high-value items may require a separate policy or rider to be fully covered.
Look into group membership discounts. Are you an AMA member, part of a professional association like APEGA, or an alumni of a Canadian university? Some insurers offer exclusive discounts to educators, university alumni, and members of certain professional groups. It's always worth asking.
Upgrade older systems in your home. Opting for safer plumbing, heating, and electrical systems can help lower your rate. This is especially relevant for Calgary's older communities where aging infrastructure can increase your risk profile.
Install water and gas leak sensors.
Alberta winters can wreak havoc on your property if you're not prepared. Make sure your home's heating and plumbing are adequate before a pipe freezes and bursts, and ensure your sump pump is working properly so your basement doesn't flood in the spring when the snow melts. Smart leak detectors can alert you to problems before they become catastrophic, and some insurers will reward you for having them.Don't insure the land.
Your policy should cover the cost to rebuild your home, not the value of the land beneath it. These are two very different numbers, and conflating them means you're likely over-insured and overpaying.Make payments electronically. Many insurers now charge a fee for mailed or paper payments. Setting up automatic payments is a simple way to trim a small but unnecessary cost.
Reconsider a pool or hot tub. These may or may not affect your premium depending on your insurer, so talk to your agent before you install one, and discuss safety measures if you already have one.
Give up smoking. Smokers pay more for home insurance due to an elevated risk of fire-related claims. If you've recently quit, let your insurer know, as it may lower your premium.
Check your dog breed policy. Certain breeds can cause your insurer to increase your rate or even decline coverage. Find out before you adopt, and if your dog has completed obedience training, mention that to your agent as well.
Alberta-Specific Risks You Can't Afford to Ignore
Calgary and Alberta come with some insurance considerations that don't apply everywhere in Canada. Make sure you've asked your broker about each of these.
Hail damage.
Calgary sits in one of Canada's most active hail corridors, and the average cost of a hail damage claim can be significant. Confirm your policy covers hail damage adequately, including your roof and any outbuildings.Overland water and flood coverage.
This is perhaps the most important conversation you can have with your broker in Alberta. Most standard policies do not automatically include flood, sewer backup, or overland water coverage. Calgarians know this all too well after the devastating flood of June 2013, which resulted in damages of more than $6 billion and forced more than 100,000 people from their homes. Overland water coverage is an optional add-on that protects against water entering your home from heavy rainfall, snowmelt, or overflowing rivers. Sewer backup coverage is separate. Consider your property's level of flood risk, check Calgary's flood maps to understand your specific exposure, and ask your insurer what form of coverage is most suitable for your situation.Wildfire.
Alberta sees wildfires regularly, and the province's natural freeze-and-thaw cycles create dry grass that can ignite quickly. Fire coverage is included in standard home insurance policies, but if you live on the outskirts of the city or in a community closer to forested areas, make sure you understand the scope of your coverage and what evacuation-related expenses are included.Frozen pipes and winter damage.
This is a real and common risk in Calgary. Ensure your heating and plumbing are winter-ready, and know what your policy says about vacancy. Burst pipes due to freezing are typically not covered if you've been away from the property for more than 14 days without anyone checking on it.One More Must-Do: Document What You Own
This tip won't save you money on your premium, but it could be invaluable if you ever need to make a claim. Take photos and video of your belongings, especially any unique or high-value items, and store that documentation somewhere other than your home. Cloud storage works great for this. It can make a complicated claims process much smoother.
As always, this article is meant as a general guide to help you have a more informed conversation with your licensed insurance broker. It is not insurance advice. Every homeowner's situation is different, and a qualified Alberta insurance professional can help you find the right coverage for yours.
