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Written By Joel Kranc

Contributing writer

Updated

Home Insurance in Airdrie

Owning a home in Airdrie, Alberta means having the conveniences and amenities of living in the Calgary region, but still being in a quieter section of the province. But with that home ownership comes the responsibility to protect yourself, your home, and the contents within it.

While not mandatory, home insurance is a highly recommended form of protection. First, almost all financial lending institutions will require you to have Airdrie home insurance to secure a mortgage.

Secondly, having Airdrie home insurance gives you the peace of mind that what may be your largest asset/investment, is protected for covered perils. Rather than spending thousands of dollars (or more) to fix and replace items, your home insurance in Airdrie will provide compensation to you.

Airdrie home insurance usually includes liability protection that protects you financially should someone get injured on your property. Also consider the impact of climate change on your home. The situation is dire enough that in the 2023 Budget, the federal government announced its intention to partner with provinces and territories to launch a low-cost flood insurance program for those at the highest risk of flooding.

Alberta is certainly not immune to fire and flooding and is approaching a record for wildfires. 2023 even saw a devastating tornado. Home insurance in Airdrie can help alleviate financial loss from such events, as well.

Type of home insurance in Airdrie

Contents and personal property: Probably the first thing people think about when considering home insurance in Airdrie is the protection of their contents and personal property. Items like your furniture, everyday houseware, and clothing are protected against theft and vandalism. More expensive items like jewelry, family heirlooms, or fine art can be protected with additional coverage.

Additional living expenses: If, for example, you are displaced by a wildfire or some other event causing evacuation, home insurance in Airdrie will cover the costs of your temporary housing. Things like hotel rooms, food and other living expenses like transportation, could be covered up to a certain amount. Talk to your provider about your policy and its specific coverage.

Liability coverage

Personal liability: You will receive liability protection if someone is accidentally injured on your property.

Voluntary medical payments: If someone is accidentally injured by you, or they injure themselves on your property, you will be protected, and your Airdrie home insurance coverage will pay for their medical expenses for up to one year from the date of the accident.

Voluntary property damage: If you cause any damage to someone else's property, by accident, or a minor in your care under the age of 12, does so, you will be covered for those losses.

Add-ons to home insurance coverage in Airdrie

In Alberta, your insurance provider also offers additional coverages or add-ons that provides even more protection that stated in the basic coverage. These are some of the most common home insurance add-ons, also known as riders, that you can add to your home insurance policy:

  • Overland water: Alberta has experienced a great deal of flooding in 2023. Overland water protection, if offered by your Airdrie home insurance provider, covers your property and contents from flooding from nearby rivers, streams, lakes and thawing snow.
  • Sewer back-up:  Should a main sewer back up in your area, this would cover damages caused by that event.
  • Earthquake: Western Canada can be more prone to earthquakes than other parts of the country. This add-on will protect you from damages or losses caused by an earthquake.
  • Mass evacuation: As has been discussed, Alberta has been experiencing a record number of floods and fires that could lead to evacuation. When that occurs, your Airdrie home insurance add-on would cover expenses incurred while you are out of your home.
  • Identity theft: If important documents such as your passport or bank statements are lost or stolen, you would be protected and compensated for any identity theft costs you incur.
  • Lock replacement: If you need to replace the locks on your house, this add-on provides coverage.
Recent Home Insurance Quote from Chestermere, AB
Detached 1,916 sq ft
July 11, 2024
Cheapest Quote
$ 116 / month
$1,396 / year
Average Quote
$ 251 / month
$3,013 / year
Savings
$ 135 / month
$1,620 / year
or
54.00 %
Recent Home Insurance Quote from Edmonton, AB
Detached 1,763 sq ft
July 11, 2024
Cheapest Quote
$ 107 / month
$1,281 / year
Average Quote
$ 165 / month
$1,982 / year
Savings
$ 58 / month
$696 / year
or
35.00 %
Recent Home Insurance Quote from Calgary, AB
Detached 1,678 sq ft
July 11, 2024
Cheapest Quote
$ 210 / month
$2,519 / year
Average Quote
$ 274 / month
$3,292 / year
Savings
$ 64 / month
$768 / year
or
23.00 %
Home insurance quotes are compared from Apollo Insurance, CAA, Economical Insurance, Pembridge, Square One Insurance, and SGI

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What types of risks do homeowners face in Airdrie?

Airdrie is essentially a suburb of Calgary and borders the city, being part of the greater Calgary municipal area. The population as of 2022 was 80,222. With that comes some risks you’ll want to protect your home and contents from.

  • Theft and vandalism: Being part of a larger community can mean incidents of crime. Theft and vandalism are two risks homeowners in Airdrie may face. The latest data on crime shows that the number of crimes committed in Airdrie from 2015 to 2017 increased more than 9%.
  • Fire and flood: Alberta has seen unprecedented fire and floods this year due to climate change. Protecting your house, its contents and the cost of temporary relocation is more needed than it has been in the past. As weather patterns change and create even greater disasters, home insurance in Airdrie is more important than ever.
  • Personal liability: Homeowners in Airdrie face risks incurred by someone else being injured on their property or by accidentally causing damage to someone else’s property. This is a risk too great to ignore and can save you thousands of dollars in medical expenses.

Factors that determine your Airdrie home insurance rates

Airdrie home insurance providers want to make sure the risks they are covering are relatively low. The higher the risk factor, the more you will pay for your Airdrie home insurance policy. Here we outline some of the risk factors that determine your Airdrie home insurance rates.

  1. Flood riskFloods have not been uncommon in Alberta, especially these days. The risks of greater climate damage may increase or impact insurance rates going forward.
  2. Disrepair – Not maintaining your home and allowing major systems to fall into disrepair is frowned upon by your Airdrie home insurance provider. Proper maintenance keeps running smoothly and lowers risks of potential claims. Also, broken or defective parts of your home can cause injury. For example, a broken step can cause injury that could have been avoided. In cases like that your claims may be denied if you left areas that could have been fixed.
  3. Replacement cost – Airdrie home insurance providers look at the finishings and cost of replacing your home. A higher-grade or more expensive home will likely lead to higher insurance rates.
  4. Property location – Location matters in real estate. A home in a high-crime area will garner higher insurance rates. The same is true if you live near water and there is a risk of flooding.
  5. Basement – Basements are usually the first place water gets too if there are leaks or floods. Homes with basements can often have higher insurance rates because they have a higher risk of claims.
  6. Electric wiring – Older homes have less efficient and more dangerous wiring systems. Sometimes called “knob and tube” wiring can lead to fires or other damage. That’s why older homes with sub-standard wiring can come with higher insurance rates.
  7. House age – An older home may have been built with code standards that are obsolete in today’s world and have problematic heating and plumbing issues. This can lead to damage, a need for more maintenance and the possibility of a greater number of claims.
  8. High-risk household appliances – Things like wood-burning stoves or oil heating can pose a greater risk for fire.
  9. Roof – Poorly built or maintained roofs can lead to water or other weather-related damage.
  10. Pets – Some pets are more dangerous than others and can be a liability risk. Pit bulls for example can be unpredictable and may cause injury. It’s important that you disclose your pets to your Airdrie home insurance provider.
  11. Smoking – Many homes have been destroyed due to fires caused by unattended cigarettes. Talk to your Airdrie home insurance provider, to see if they offer discounts for non-smokers.

How to get cheap home insurance in Airdrie

  • Compare Airdrie home insurance quotes: Using comparison sites like RATESDOTCA allows you to see and select the cheapest rates for home insurance from the top providers in your area.
  • Bundle home insurance policies: Combining your home insurance with your other auto and life insurance policies, for example allows your insurance provider to save money and pass that savings on to you. It’s also a way for them to thank you for your loyalty.  When you bundle multiple policies, you can earn a discount in the neighbourhood of 15%.
  • Go with a higher deductible: A higher deductible means you are taking on more risk by agreeing to pay for certain expenses out-of-pocket. A reduction in your insurance provider’s risk means a lower home insurance rate for you.
  • Leverage discounts: Many Airdrie home insurance providers offer discounts to clients who are members of alumni associations, or unions, for example. Talk to your provider about their discount programs.
  • Reduce the likelihood of robbery: Installing a good security system can help reduce theft and the risk of claims.
  • Look for claims forgiveness: Usually, Airdrie home insurance providers will look at your history of claims to determine your rates. But some insurance companies are willing to forgive one past claim, which can earn you substantial savings.
  • Pay for premiums annually: By paying a lump sum each year, you are helping reduce administrative costs to your Airdrie home insurance provider. That cost reduction can be handed back to you.
  • Do a credit check: If you allow your Airdrie home insurance provider to conduct a credit check, and your score is good, your provider may offer a discount as you are considered a lower risk client.

How much does the average home insurance cost in Airdrie?

The average cost for home insurance in Airdrie is $2,335 per year or about $194 per month. That’s 2.7% higher than the provincial average of $2,271 per year or about $189 per month.

Airdrie is part of the Calgary municipal area and has greater density and congestion than other parts of the province. Also, with greater density and proximity to a larger city, there are more opportunities for, theft, vandalism and ultimately claims. Also, Alberta has some of the highest incidence of flood and wildfires than anywhere else in the country. That’s likely why Airdrie has a higher average insurance premium than the provincial average.

Airdrie home insurance rates and nearby cities

Average home insurance premiums for the province of Alberta are $2,339 per year or about $195 per month.

That nearly in-line with the city of Airdrie, whose average home insurance premium is $2,337 or also about $195 per month.

Nearby towns like Calgary have average premiums of $2,485 or $207 per month, whereas Chestermere and Cochrane have rates of $2,518 or $209 per month and $2,553 or $212 per month, respectively.

Calgary, being a large city, faces issues such as theft, vandalism and perhaps more expensive homes, as well as a history of more claims, leading it to be more than the provincial average.

Also, surrounding cities like Chestermere and Cochrane have seen rising prices go up recently, as demand has increased, and people have left cities during the pandemic. All of these factors can lead to higher home insurance rates, especially as new construction continues.

Frequently asked questions about Airdrie home insurance

Got more questions about Airdrie home insurance? We got you covered.

Why is home insurance in Airdrie so expensive?

Airdrie is a small area located right on the border with Calgary. In fact, it is part of the larger Calgary municipal area. There is an opportunity for theft, vandalism and in a province that experiences a high number of weather-related incidents such as wildfires and flooding.

Do high Airdrie real estate prices affect the cost of home insurance?

High real estate prices are influenced by outside market factors such as the Bank of Canada overnight lending rates, supply and demand, inventory and so on. While this may seem like reasons that could influence insurance premiums, it is not always the case.

Home insurance in Airdrie is influenced by factors such as your claims history, the neighbourhood you live in (high crime versus safer), your security system, discounts you may receive and your ability to shop around and secure cheap home insurance premiums.

Which company offers the cheapest Airdrie home insurance?

No one company offers the cheapest Airdrie home insurance. The specifics depend on your personal situation and how you can influence the rates you pay. That's why it is so important to comparison shop on sites like RATESDOTCA to see which providers offer the best rates that suit you.

How do I save on Airdrie home insurance?

You can save on Airdrie home insurance by doing things like:

BundlingCombining insurance you need under one provider to save money.

Raise deductibles – Reduce the risk on your insurance provider, which can lower your rates.

Comparison shop – Look at sites like RATESDOTDA to find cheap Airdrie home insurance.

Seek out discounts – Some providers offer discounts for things like upfront payments, membership in an approved association, or if you have a fully paid mortgage.

*Shoppers who obtained a home insurance quote on RATESDOTCA from January to December 2023 saved an average amount of $600. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA. Excludes tenant and condo insurance.

Joel Kranc ,
Writer

Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.

He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.

He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."

Education
  • Master's of Political Science, University of Toronto
Featured in
  • Benefits Canada
  • Institutional Investor
  • Plan Sponsor Magazine
  • Global Finance Magazine
  • Infrastructure Investor
  • Private Equity Investor
  • The Globe and Mail
  • Fund Directions Newsletter
  • BenefitsPRO
  • HR Professional
  • Advisor's Edge
  • Institutional Investor
  • Employee Benefit Advisor
  • Investing in Infrastructure Magazine (i3)

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