Cheap Calgary Home Insurance Quotes

Home insurance in Calgary

Buying or owning a home in Calgary comes with a big responsibility. And while protection of your property and its contents is not mandatory, many or most mortgage lenders will not help you finance your purchase unless you have home insurance.

Home is likely to be your largest investment, so protecting it is a good idea. Doing so will grant you a peace of mind and some financial benefits.

In the event of a covered peril, you’ll be compensated. Also, an additional benefit that some overlook is that most home insurance policies in Calgary include liability protection. This means that if someone is injured on your property, you will also be protected financially.

Then there are the evidence-supported issues around climate change. Homes in Canada are increasingly impacted by damage from climate change. The Insurance Bureau of Canada reports that in 2021, insured damage for severe weather events reached more than $2 billion, ranking it as the sixth highest in insured losses since 1983.

Here are some of the important details you need to consider when choosing coverage that’s right for you and your home.

Type of home insurance in Calgary

• 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. Since some policies may require additional coverage for secondary structures, like a garage or guest house, you should 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. However, 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, this will cover your expenses for 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 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 Calgary

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. Although not every carrier offers this add-on, if your insurer does, it covers property damage from overflowing water from nearby rivers, streams, lakes and thawing snow.
• Sewer back-up. Protects your home when a main sewer backs up and causes damage.
• Earthquake. Covers losses or damage caused by an earthquake. This add-on is especially useful if your home is in an area vulnerable to earthquakes.
• Mass evacuation. If an event, like a flood or wildfire, triggers a government-issued evacuation order, this add-on would pay for some of the expenses you incur while being away from your home.
• Identity theft. Covers the cost of replacing important documents, such as your passport.
• Lock replacement. If you need to replace the locks on your house, this add-on provides coverage.

What types of risks do homeowners face in Calgary?

Home insurance throughout Canada is relatively similar, but many cities have some unique factors that contribute to the cost of a policy.

In Calgary, these factors include:

• Freezing temperatures. Cold winters, with temperatures reaching -30°C, may result in pipes bursting or freezing.
• Snow and water damage. Heavy snowfall in Calgary can test the constitution of homes and external structures, like fences and garages, during the winter. Then when the snow melts in springtime, the resulting thaw can be equally threatening, especially to homes with basements.
• Sewage pipe back-up. Your home's drain pipes, or main sewer line can become clogged, which can cause water damage to your home.
• Window condensation. One of the main problems that can arise from fluctuating temperatures is condensation on windows because of humidity. If left unchecked, excess moisture can cause wood rot and plaster damage both around your windows and throughout your home. However, you can easily remedy the issue before it happens with proper ventilation, proper insulation and better in-home heating.
• Attic rain. Without proper roof ventilation, your attic may accumulate warm, moist air from places like the kitchen or the bathroom. The air ends up freezing when it’s cold and melting when it’s warm. The resulting water then trickles down into the rest of your home, causing stains, structural damage, leakage around electrical fixtures and black mold.

Typical home insurance in Calgary will cover your personal belongings (appliances, furniture and some electronics), and protect you from personal liability if you’re sued by someone injured on your property.

Certain perils are also covered by standard insurance policies, including:

• Fire
• Lightning
• Water damage
• Wind
• Aircraft or vehicle impact
• Explosion
• Smoke (caused by cooking devices or heaters, but not fireplaces)
• Theft and vandalism (such as broken windows)
• Falling objects (except if caused by an earthquake, landslide or snowslide)

There are certain perils that standard Calgary home insurance policies won’t cover. In these cases, add-on protection may be available for an extra charge. Whether getting additional coverage is worthwhile depends on how relevant any of the uncovered perils are for your home. Examples of non-standard coverage include:

• Renting all or part of your property to long- or short-term guests.
• Injuries or damage caused either intentionally or by illegal activity.
• Damage caused because basic measures of protection and maintenance have not been taken.
• Liability for clients or customers visiting a home-based business.
• Natural disasters, such as earthquakes and landslides.
• Certain water damage, such as sewer back-up and flooding from overland water.
• Certain weather issues in winter, such as damage to the outside of your home caused by freezing and water damage (due to frozen or burst pipes).
• Damage from insects and rodents.