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The Best Edmonton Home Insurance Quotes

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How to get Edmonton home insurance quotes on RATESDOTCA

1

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Answer a few basic questions about your home.

2

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See quotes from top Canadian insurance companies side by side.

3

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Edmonton home insurance premiums vs. Alberta home insurance premiums
Annual premium Monthly premium
Alberta’s average home insurance premium $1,427 $119
Edmonton’s average home insurance premium $1,252 $108

According to proprietary data from RATESDOTCA, Edmonton homes, on average, cost less to insure than the average Alberta home. These figures exclude condo insurance, which tends to be less expensive than home insurance.

Though there are numerous factors that contribute to determining the cost of a home insurance policy, one possible reason Edmonton has relatively cheap house insurance is because it isn’t directly threatened by wildfires. Past insurance payouts for wildfire damage rank among the most costly events for Canadian insurance providers, so Alberta cities with greater exposure drive up the provincial average.

Frequently asked questions about Edmonton home insurance

Here’s everything you may be wondering about home insurance coverage in Edmonton.

How much does house insurance cost in Edmonton?

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.

Why is home insurance cheap in Edmonton?

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.

Which company offers the cheapest Edmonton home insurance?

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.

What risks do homeowners face in Edmonton?

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.

What is not covered by most Edmonton home insurance policies?

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.

How do I save on Edmonton home insurance?

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.

Find the cheapest home insurance in Edmonton

We know how precious your home is to you. Having home insurance will provide you and your family with peace of mind and financial protection when it comes to safeguarding your home against perils. Save money on Edmonton home insurance by comparing quotes from top Canadian insurers on RATESDOTCA. We aggregate quotes from more providers than anyone else, always finding you the best price.

*Based on the difference between the average lowest home insurance premium and overall average home insurance premium from our site in 2019. Excludes tenant and condo insurance.

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