Compare Alberta Home Insurance Quotes

Alberta home insurance premium trends 2024 – 2026

Home insurance premiums in Alberta are on the rise in 2026, which is a trend that’s bound to continue in 2027. According to the Applied Rate Index, premiums in Alberta increased 11.9% year over year in Q2 2026. This is above the comparable increase in Q2 2025, which was 9.5%, but well below the increase seen in Q1 2026, which was 16.2%. The overall trend, however, upward, as the four quarter have all seen year-over-year increases above the 10% mark in Alberta.

Note: The percentages listed above are derived from comparing rates from one quarter to the same quarter in the prior year (e.g., Q2 2026 is compared to Q2 2025).

Source: The Applied Rate Index (Q2 2026)

What's behind Alberta’s home premium increases in 2026?

As shown by a recent study by Statistics Canada, some of the biggest culprits behind the rise home insurance premiums in Alberta and Canada at large are more frequent bouts of extreme weather in the last six years, plus higher rebuilding costs, which were in part caused by the pandemic.

So far, 2024 is the costliest year on record for extreme weather claims, with insured losses amounting to $9.2 billion.

Alberta had the worst of it due to the Jasper wildfire and Calgary hailstorm, which cost $3 billion and $1.1 billion, respectively. Quebec came in second at $2.7 billion and Ontario third at $990 million, for flooding in both cases.

This weather pattern is unlikely to get any better, as temperatures and precipitation will continue to increase at a rapid pace. This means that property losses are likely to go up rather than down.

As for rebuilding costs, a recent report by Verisk shows that residential rebuild costs in Alberta increased 24.3% between January 2021 and January 2026, with a 12.8% increase over the past three years. Component costs are up 3.8% year over year in Canada, with roofing and aluminum siding showing strongest growth at 4.9% and 4.6%, respectively. Canada is also short on skilled trades labour in the residential construction sector, with job vacancies being projected to rise from 11% to 13% per year between 2026 and 2045.

Though the outlook is grim, there are ways to mitigate these issues – mainly through premium comparison and avoiding high-risk areas when buying a new home.

Alberta’s biggest property risks in 2026

Rates.ca’s proprietary data shows that system back-up (i.e., sewer back-up), wind/hail and crime (i.e., theft) are the biggest risks facing Alberta homes in 2026. On the scale of Very Low, Low, Medium, Very High and Extreme, these three risk categories fall into Medium, with system back-up skewing higher than the rest. Places with Extreme system back-up risk include Barrhead, Vermilion and Wainwright.

Edmonton is at a High risk of both system back-up and theft, while Calgary is at a High risk of wind/hail and theft.

The other two risk categories are flood from exterior sources and wildfire, both of which sit at Low in Alberta.

Choosing the right home insurance policy in Alberta

Buying or owning a home in Alberta does not legally require you to have home insurance. That said, if you intend to take out a mortgage so you can purchase that home, your lender will require you to have home insurance – to protect their investment.

So, in an indirect way, home insurance is mandatory. Unfortunately for many homeowners, premiums have been on the rise, making home ownership – combined with high mortgage rates – a very expensive proposition. Let’s examine why that is and what you can do to lower those costs.

Different types of home insurance coverages in Alberta

Home insurance usually comes in four different flavours, depending on the amount of coverage you’d like to get – or in some cases, allowed to get (as your home may not be safe enough to warrant standard coverage).

These are the coverage types you’re likely to encounter:

• Named perils: This package offers the least amount of coverage for your house and contents; your home is only protected against perils explicitly named in your policy. If it isn’t named in your policy, you don’t have insurance protection against it. You may also see some insurance providers describe this type of policy as ‘basic’ or ‘limited.’
• Broad form: A broad home insurance policy gives more coverage; it provides all perils coverage to your home and named perils coverage to your contents. Some insurance providers describe this type of policy as ‘standard.’
• Comprehensive: This is the most inclusive and costly type of home insurance. A comprehensive policy applies all perils coverage (except for exclusions listed in the policy) to your home and contents, as indicated in the policy. This type of coverage is sometimes referred to as an ‘all perils’ policy.

What gets covered

• Property and building: This coverage protects both the structure(s) on your property, as well as the property itself, from a variety of perils. Protected incidents include fire, theft and water damage, among others. Because some policies may require additional coverage for secondary structures, like a garage or guest house, consult your insurer if anything is unclear.
• Contents and personal property: Contents and personal property coverage protects your possessions, such as furniture, clothing and sports equipment, against theft and vandalism. Some items, like fine art and expensive jewelry, may not be protected under a standard policy. Excluded items can be protected with additional coverage.
• Additional living expenses: If you’re temporarily displaced by an insurable event, this protection covers your temporary housing costs. For example, if damage to your home forces you to spend a week at a hotel, additional living expenses protection will cover the cost of the room and food, up to a certain amount.

Liability coverage

• Personal liability: This coverage provides protection against liability in the event someone is accidentally injured on your property.
• Voluntary medical payments: If you unintentionally injure someone, or someone accidentally injures themselves on your property, this coverage will pay for the medical expenses for up to one year from the date of the accident.
• Voluntary property damage: This coverage is for unintentional direct loss or damage you cause to someone’s property. It also covers unintentional loss or damage to someone else’s property by a minor (12 years or under) in your care.

Add-ons to home insurance coverage in Alberta

In addition to the components of an Alberta home insurance policy, there are add-on coverages you can purchase to further protect your home and contents.

Some you can add to your home insurance policy include:

• Earthquake: Will cover loss or damage caused by an earthquake which is especially useful in your home is in an area that's vulnerable to earthquakes.
• Identity theft: Covers many of the costs that can arise when your identity is stolen. For example, costs for replacing important government-issued documents, such as your passport, lost wages resulting from having to take time off work to deal with the theft as well as any costs associated with challenging damaged credit reports, dealing with collection agencies or initiating a lawsuit to resolve the wrongful transfer of property.
• Lock replacement: If you need to replace the locks on your house, this add-on will cover the cost of re-keying. If your keys have been stolen, most insurance providers require that a police report be filed before a claim is paid out.
• Mass evacuation: This add-on will cover your costs if you're forced to be away from your home due to a government-issued evacuation order such as that many Albertans experienced during the historic wildfires in Fort McMurray in 2016, which IBC estimated to be among the costliest in Canadian history.
• Windstorm: A windstorm can wreck your home’s structure, possessions and windows and shower everything you own in debris. Depending on your insurer and policy, you may have this covered from the get-go, but it’s worth inquiring about the coverage just in case.
• Overland water: It's a good idea to add flood protection to your home insurance policy since most of them don't have coverage built in. Although not every carrier offers an add-on for protection against overland water, it covers property damage from overflowing water stemming from nearby rivers, streams, lakes and thawing snow.
• Sewer back-up: Protects your home when a sewer line backs up and causes damage to the line between your home and the city's main line. In many instances, this add-on also covers the cost of removing sewer water from the home as well as repairing damage caused by it.
• Personal valuables: If you own expensive things like jewelry, collectibles and artwork, then you may need extra coverage for them. Do an inventory of all your possessions and assign monetary value to them. Then talk to your provider to find out if you need extra coverage.
• Personal umbrella: If you’re worried that your standard liability coverage isn’t enough (e.g., if your lawsuit costs you more than expected), this add-on can make up the difference.

What an Alberta home insurance policy may not cover

Even if you have the most coverage money can buy, having opted for every available endorsement, there are some perils against which no policy will protect you. In the insurance world, these are referred to as ‘exclusions.’

Common exclusions include:

• Mold: Since mold occurs slowly due to pre-existing conditions, such as extreme humidity, there is usually enough time for you to prevent it. Home insurance isn’t meant for maintenance – it's here to address major perils only.
• Pest infestations: Like mold, pest infestations, including mice, bedbugs, cockroaches and termites, are also a maintenance concern. That’s why it’s unlikely that your insurance would cover an infestation if it were to occur in your home.
• Deliberate damage or injuries: If you purposely damage your property (whether it’s the home itself or your personal items) or you deliberately hurt someone on your property, your insurance will refuse to cover you. In fact, if you file a claim for either of the two, you may be accused of insurance fraud, which is illegal.
• Absence from the home: Damage that takes place while you’re away from the home for an extended period of time.
• Alterations: A homeowner will only be protected against damage to a property that occurs during an alteration to it if they have received written permission from the insurance provider to undertake the alteration. However, common repairs such as painting or fixing a broken railing are not subject to this exclusion.
• By-law enforcement: You are not likely to be covered for costs stemming from the application or enforcement of a bylaw.
• Damage from renters: Most insurance providers require specific coverage for landlords. A standard home insurance policy is unlikely to protect you if a renter damages the property.
• Earthquake: Most policies exclude protection against earthquakes, though you can add coverage in the form of an endorsement.
• Existing damage: You’re unlikely to be covered for damage that began before you held the policy, even if the policy covers that type of damage.
• Flooding: Most policies exclude flood protection, though coverage can be purchased as an endorsement.
• Volatile substance: If you have more than one gallon of a volatile substance on your property and a fire or explosion takes place, you may be denied coverage. This is likely to include gasoline.

There are also some perils for which no coverage is available. They’re referred to as ‘uninsured perils.’ For example, if your home is built on a known flood plain, no insurance protection may be available.