Affordable Home Insurance in Airdrie

Crime levels vary in each city, but the overall crime rate in Alberta rose 5% between 2022 and 2023. A higher crime rate means you may encounter more theft, vandalism, and other incidents that damage your home. 

Alberta sees an average of 208 wildfires annually from 2018 to 2022. However, that number doubled in 2023 with 416 wildfire incidents as of May. The fire risk in Alberta is high because the natural freeze and thaw cycles create dry grass that can ignite and start wildfires. Moreover, fires can start from human error due to lit cigarettes, candles, and electronic malfunctions. Most recently, Airdrie was put under a fire advisory in May 2023 due to the dry weather in anticipation of wildfires.

Due to heavy rain and snow melt, Alberta is prone to flooding. Many of these are flash floods, meaning you may not have enough time to prepare. Since flash floods come with little to no warning, your property damage may be more severe.

Damage from high winds, storms, and hail is very common in Alberta. Adverse weather can damage your roofs, windows, and outdoor furniture if you don’t take steps to mitigate their effects. A notable case of highly-damaging hail happened in August 2014, when two hail storms within a single week caused a whopping 25 million dollars of damage.

Accidents can happen anytime and anywhere, regardless of how safe your home is. People may hold you liable for slips and falls that happened on your property, which is where home insurance comes in. Home insurance policies can cover numerous costs related to a slip and fall lawsuit.

Single-detached houses are the most popular type of dwelling in Airdrie, with residents making up 65.4% of the city’s 26,295 households. Row houses come in second with 3,825 (14.5%) households, while low-rise apartments take third with 3,265 (12.4%) households.

Examining the 25% sample data taken for this census, we can see that the majority (79.3%) of Airdrie households own their homes, while the remaining 20.7% are renters. These percentages are similar to its condominium resident statistics, with 21.3% of households residing in condos, and 78.7% living in non-condos.

Most homes in Airdrie are relatively new. The largest portion (23.3%) of Airdrie households live in homes built from 2011 to 2015, while the second-largest portion (19.6%) live in homes built from 2006 to 2010. Old homes are in the minority, with only 0.9% of households living in homes built before 1960.

Newer homes likely led to the excellent state of most homes in Airdrie, since a whopping 97.9% of households said their homes only needed minor repairs and maintenance. Meanwhile, only 2.1% of the city’s homes needed major repairs.

If your home was damaged due to criminal activity, it won’t be covered by your insurance policy.

Generally, home insurance companies require specific coverage for homeowners/landlords who plan to rent out their properties. A standard home insurance policy won’t include coverage if you rent your home out and the tenant causes damage.

Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Damage or losses caused by poor home upkeep (e.g., clogged storm drains, broken bannisters) won’t be covered, as your insurer deems it your responsibility to manage wear and tear.

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home businesses will need separate home-based business insurance to cover home or equipment damage.

Because this is considered a preventable risk, most insurers don’t cover insect damage.

These are separate expenses handled by policy owners as they’re unrelated to your home insurance policy.

Mould caused by poor home maintenance is typically excluded by home insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Many insurers may void your insurance if you leave your home vacant for a prolonged period.

Home insurance protects your property from perils like fire and theft. It does so by providing financial compensation if your property experiences loss or damage due to unforeseen events.

Your mortgage lender may require home insurance as part of their loan conditions. Lenders tell borrowers to get home insurance to protect their investments.

In addition to protecting your home, insurance provides liability coverage to settle legal fees if somebody gets injured on your property.