The Best Edmonton Home Insurance Quotes

The average lowest house insurance quote a RATESDOTCA user in Edmonton receives is $1,252 per year, or $108 per month. This is lower than the provincial average of $1,427, or $119 monthly.

However, these averages are not necessarily indicative of what the cost of home insurance will be for any specific house in Edmonton. The home insurance premium you pay depends more on the property type, age, building materials and condition of your home, than on the city you live.

Home insurance in Edmonton costs 12.3% less than Alberta’s provincial average. This is because the exposure to environmental perils, such as wildfires, is comparatively low. Many cities in Alberta are routinely threatened by wildfires, which can result in large insurance payouts. Places where wildfires are especially threatening, like Fort McMurray, drive the provincial average cost of home insurance up.

Though Edmonton is somewhat removed from the threat of wildfires, homes still face some environmental perils, such as floods and snowstorms. Even though home insurance isn’t mandatory in Edmonton, it is necessary to safeguard your home from damage and liability costs caused by climate and human activity.

No single home insurance company offers the cheapest rate for every property. Insurers assess risk differently, so one may offer the cheapest rate for one home but not another. If you’re looking for a cheap home insurance plan, comparison shopping will help you find the best home insurance quotes from top Edmonton insurers.

While Edmonton homes face a low risk from wildfire damage, they are prone to the following perils:

• Internal water damage from burst pipes: During the winter months, low temperatures increase the risk of water damage from burst pipes. Given how cold the winter gets in Edmonton, this is a common issue.
• Sewage backup: An aging sewer system or melting snow can cause a sewer backup. Damage as a result of sewer backup may be covered by your policy, or will be available as an add-on. Many insurers offer different amounts of sewer backup coverage. Ask your insurer for more information.
• Overland water: Rainstorms and melting snow can cause overland flooding and heavily damage your home. Overland water insurance may be an optional add-on, making it important for you to ask your insurer about the details of your coverage options.

Home insurance providers in Edmonton don’t cover every peril under a standard policy. In fact, some of the most common perils, such as flooding, may require extra coverage.

Optional risks not covered can be added to your policy. Earthquake coverage, additional liability coverage and sewage backup coverage are common add-ons that you can choose to include as part of your home insurance coverage. It is always recommended to add frequently occurring or common perils as add-ons to safeguard your home.

You can lower the cost of your home insurance premium in the following ways:

• Bundle auto and home: Some insurers may have a policy that bundles different types of insurance, like home and auto, allowing you to save money on both.
• Ask for discounts: See if you can get an alumni or professional membership discount from your insurer, such as a CAA or college/university alumni discount.
• Choose a higher deductible: You can choose a higher deductible to lower your home insurance premium. Most insurers in Edmonton will allow you to choose $500, $1500 or $2000 as your policy deductible.
• Upgrade your home: Home upgrades, like roof maintenance and replacing old plumbing, can lower your premium.
• Increase security: Installing a good security system minimizes the risk of theft, directly lowering your home insurance premium.