Medicine Hat earns the nickname of “Canada’s Sunniest City” by having an average of 330 sunny days per year. Thanks to its nearly year-round bright weather, tourism is a booming industry in the city. Medicine Hat is home to the Saamis Teepee, the tallest teepee in the world. You can also visit museums, local breweries, and beautiful murals dotted all over the city.
Author Rudyard Kipling once said Medicine Hat has “all hell for a basement” thanks to its bountiful supply of natural gas. If you’re looking for a career in the petrochemical sector, Medicine Hat is one of the best places to live in.
Another reason to live in Medicine Hat is affordable homes. The average home price in Medicine Hat is about $80,000 lower than the provincial average. Pair that with an average living cost that’s 26% lower than Alberta’s average, you can save a lot of money by living in Medicine Hat.
Quote data from MyChoice.ca, January 2025
What Risks Affect Homeowners in Medicine Hat
Medicine Hat is often exposed to extreme weather. Here are some common risk factors homeowners in Medicine Hat should watch out for:
Severe Event Probability in Medicine Hat
On June 19, 2013, record-breaking floods on the South Saskatchewan River forced Medicine Hat to evacuate residents, close roads, and undertake large protective measures.
Below are the MyChoice severe event probability scores for Medicine Hat, 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 Medicine Hat Usually Cost?
Home insurance in Medicine Hat costs around $1,412 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 Medicine Hat
Buying a home is a big commitment, so you need to research before making a decision. Examining a city’s housing statistics can help you understand more what living there is like. Here’s a look at key residential information in Medicine Hat from the 2021 Census of Population:
Homeownership Rate by Age in Medicine Hat
The highest homeownership rate in Medicine Hat is among the people aged 75+ at 82.8%.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 23.3% |
| 25 to 39 | 59.0% |
| 40 to 54 | 69.8% |
| 55 to 74 | 79.6% |
| 75 and over | 82.8% |
Average Home Price in Medicine Hat by Dwelling Type
The average price for a single detached house in Medicine Hat is $350,000, a little under the Alberta average of $367,000.
| Type of Dwelling | Average Value |
|---|---|
| Detached | $350,000 |
| Semi-Detached | $294,600 |
| Freehold Townhouse | $205,000 |
Medicine Hat Population Growth
The population in Medicine Hat has largely stayed stagnant between the years of 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 Medicine Hat. 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 Medicine Hat?
There are many risks to your Medicine Hat 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 Medicine Hat to make the right decisions.
You technically don’t need home insurance in Medicine Hat, 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 Medicine Hat
Visit our Alberta page to view the list of recommendations on how to get cheaper home insurance.