Quote data from MyChoice.ca, January 2025
What Risks Affect Homeowners in Brooks
Brooks is often exposed to extreme weather. Here are some common risk factors homeowners in Brooks should watch out for:
Severe Event Probability in Brooks
On June 19, 2013, the same catastrophic floods that devastated Calgary also reached the Brooks region, damaging numerous properties.
Below are the MyChoice severe event probability scores for Brooks, based on the historical data from the Canadian Disaster Database collected since 1950. The percentages reflect the likelihood of a major event in question occurring at least once in the region in the next decade – relative to other regions and events.
How Much Does Home Insurance in Brooks Usually Cost?
Home insurance in Brooks costs around $1,270 annually. Home insurance premiums are affected by factors like your home’s age, roofing type, proximity to fire hydrants, and more.
Using your home as a place of business may also influence your home insurance rates. Using your home for business means more people coming in and out of your property, increasing your liability and risk of losing belongings.
Quote data from MyChoice.ca, January 2025
Housing Data in Brooks
Brooks is known as “The City of 100 Hellos” because it’s one of Canada’s most culturally diverse cities, with around 48.4% of its population identifying as visible minorities. Living in Brooks means you can sample the cuisine and experience the arts of various countries worldwide without travelling long distances.
Brooks also boasts strong agriculture, manufacturing, oil, and gas industries due to the region’s wealth of farmable land and natural resources. This means Brooks’ distance to big cities shouldn’t be a problem since you can find careers within the city.
Homes in Brooks are also much more affordable. The average home price in Brooks is about $180,000 cheaper than the provincial average. Additionally, living costs in Brooks are 17% cheaper than the national average. This means you can potentially save a lot of money by living in Brooks.
Is living in Brooks a good idea, and what kind of home is most popular? Research can help you find the answers. Here’s a look at key housing data in Brooks from the 2021 Census of Population:
Homeownership Rate by Age in Brooks
Homeownership in Brooks is mostly high among the older population (40+ years). The relatively low homeownership percentage of 46.3% among young adults (25-39) suggests that the city doesn’t attract as many young professionals as some other cities in Alberta.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 28.1% |
| 25 to 39 | 46.3% |
| 40 to 54 | 70.9% |
| 55 to 74 | 76.2% |
| 75 and over | 78.6% |
Brooks Population Growth
While Brooks has a relatively small population, it experienced a 3.27% population growth between 2016 and 2021.
What Is Not Included in a Typical Home Insurance Policy?
Even if you’ve opted for a highly comprehensive home insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by home insurers.
Here are the most common home insurance exclusions:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Brooks. Talk to your home insurance provider to see what’s covered by your policy in case of loss or damage.
Why Do I Need Home Insurance in Brooks?
There are many risks to your Brooks home. From flooding due to heavy rain to fires, unforeseen incidents can damage your home or its attached structures severely, which can take a lot of money to repair. Somebody can even get into an accident on your property, which might result in hefty legal and medical fees.
Unexpected expenses due to these incidents can stretch your finances thin. The good news is that home insurance can help. A home insurance policy can foot your home repair bills if a covered peril damages it. Additionally, it pays for the many costs associated with personal injury lawsuits.
With the many options for home insurance, which one is right for you? There’s no one “best” home insurance policy for everybody, so you need to learn more about home insurance in Brooks to make the right decisions.
You technically don’t need home insurance in Brooks, because it’s not a legal requirement for homeowners. However, you should still get a policy to protect your home as well as its contents. Here are three main reasons why having a home insurance policy is a good idea:
How You Can Get Cheap Home Insurance in Brooks
If you’re looking for tips on how to save money when getting home insurance in Brooks, visit our Alberta home insurance page.