The Best Home Insurance Quotes in Red Deer

According to our proprietary data, the lowest average Red Deer home insurance quote a homeowner receives on RATESDOTCA is $1,446/year or $121/month. These figures are 1.3% higher than Alberta’s average of $1,427/year or $119/month, which isn’t much of a difference.

The cost of your own home insurance premium may differ as each home is unique. Your insurance premium will depend on multiple factors, such as your property’s location, age, building materials, previous claims history, eligible discounts and much more. This is why your home insurance premium may be lower or higher than the city’s average. To make sure you can get the best deal possible, shop around and compare a variety of quotes. When you don’t shop around and just stick with one quote, you end up missing out on potential deals and discounts.

Comparison shopping will allow you to see the best options available in Red Deer, making the process of picking a home insurance policy super easy!

If you’re looking for the cheapest home insurance provider in Red Deer, please note that there’s no specific company that offers a cheap standard rate for every home in the city. Your home insurance premiums will be calculated by each provider in a unique way.

What you can do is shop around and compare different home insurance quotes and policies from top providers on an online marketplace, like RATESDOTCA.

As a homeowner in Red Deer, you should be aware of the potential risks your home faces, so you can customize your home insurance coverage accordingly. Here are all the different risks homeowners face in Red Deer:

• Flooding: Flooding is quite common in the province of Alberta. Every year, flooding related damages result in millions of dollars in home insurance claims, which go towards costly repairs, temporary displacement and much more. When looking at home insurance coverage, make sure that it covers floods, as well as temporary displacement due to such causes. Temporary displacement coverage is usually an add-on coverage or part of a comprehensive home insurance policy. Ask your insurer or broker for more details.
• Wildfire: Just like flooding, wildfires are also quite common in Alberta. Even if your city doesn’t suffer from a wildfire, the wildfire smoke from neighboring cities can damage your furniture, walls, and windows, resulting in sudden out-of-pocket expenses. Check if your home insurance policy covers wildfire related damages.
• Storms: Storms are quite common in Red Deer, Alberta. A severe storm can deeply damage your home’s structure. Tornadoes, windstorms and damaging hail storms are known to strike Red Deer. Home insurers view these as insurable perils, so make sure you’re covered for them. .
• Harsh winters: Alberta winters include lots of snow fall, strong winds and extreme weather conditions. Heavy snow can cause several issues for homeowners, such as burst pipes and water damage from thawing ice. Having home insurance can protect you from paying out-of-pocket when such problems occur.

Home insurance providers will not cover all perils under a standard policy. In fact, some of the most common perils, such as flooding, wildfires and overland water may require extra coverage.

After you’ve properly assessed the most common risks your property faces, you can check which add-ons and coverages you’ll most likely need. Most providers allow you to customize your coverage by adding such add-ons, but this will also raise your home insurance premium.

In most cases, paying the added insurance premium is worth it, as sudden damages can burn a hole in your pocket. The most common add-ons Red Deer homeowners choose are extra liability coverage and overland water coverage. Please ask your insurance provider about the most optimal coverage options for your home.

Looking to reduce your home insurance premium further? Worry not! There are multiple ways you can reduce your Red Deer home insurance premium.

• Bundle auto and home: Offering to bundle your auto and home insurance policies can help you save 10-15% on both home and auto insurance. Ask your provider for more information about multi-line discounts and bundles.
• Update your content coverage: Is your content coverage unnecessarily high? Having high content coverage can add to your insurance premiums. Check if the value of your content matches your policy coverage.
• Take advantage of a no claims discount: If you’ve never filed a home insurance claim before, you can ask your provider or broker for a claims free discount.
• Upgrading your home: See if your home can use some necessary upgrades, such as replacing old pipes, roof shingles etc. Regular repairs will make your home safer and lower your home insurance premium. Contact your insurer once your repairs are complete to lower your premium.
• Retirees: Some insurers offer home insurance discounts for retirees. If you are retired, make sure you ask your insurance broker or agent about it.
• Increase your deductible: Choosing a higher deductible can instantly lower your premium. Just remember that doing so means that you’ll be spending more money each time you file a home insurance claim.
• Increase your home security: You can directly reduce your Red Deer home insurance premium by adding a smart security system in your home. Security systems reduce the risk of theft and fire damage.
• Install a backwater valve: Overland water is a common issue in Red Deer due to extreme weather conditions. Installing a backwater valve can prevent sewage from flowing into your basement during a flood or seasonal snow thaw. This will reduce your water damage risk and home insurance premium.