Affordable Home Insurance in Spruce Grove

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. You should be vigilant at all hours, since fires can happen unexpectedly. For example, the fatal duplex fire in May 2023 happened at 3:20 AM, where most people were likely in bed.

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. Floods in Spruce Grove can disrupt many of your activities as well, like the flood that forced the closure of Highway 16 in July 2012.

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. Hailstones in Spruce Grove can be as big as grapefruits, so you need to be extra careful during storm season.

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.

63.4% of Spruce Grove’s 14,275 households live in single-detached houses, meaning they’re the city’s most common dwelling type. Low-rise apartments come in second place with 14.8% of households, while semi-detached homes are in third with 12.7% of households.

Around three-quarters (76.3%) of Spruce Grove residents are homeowners, with the remaining quarter (23.6%) being renters. Condominium residents are rare, with just 13.1% of households compared to non-condo residents comprising 86.9% of Spruce Grove’s households.

Based on the 25% sample data taken from the census, there’s a relatively even spread of newer and older homes in Spruce Grove. No decade or five-year period is distinctly more dominant than other periods. However, residents living in built before 1960 are in the minority, with only 1.2% of households.

Spruce Grove residents keep their homes well-maintained, with 96.6% of its households reporting their homes only needed minor repairs. Households who only needed minor home repairs dwarf the 3.4% that said their 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.