Home Insurance Medicine Hat: Rates, Quotes, Consumer Tips


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Home Insurance Medicine Hat: Intro

Welcome to your Home Insurance Guide for Medicine Hat. This page will give you an idea of Home Insurance Premiums in Alberta, will inform about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Medicine Hat

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What Are Typical Home Insurance Premiums In Alberta?


The chart above illustrates the average Renters and Homeowners Insurance premiums in Alberta and other provinces including Home Insurance in Medicine Hat. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.

Overall consumers spend more on Home Insurance in Alberta is relatively high with only British Columbia having higher than Alberta premiums. High insurance premiums are driven some what by rougher natural conditions and their potential impact on your dwelling (e.g. flooding).

One of the larger natural disasters in the past years become flooding that strongly impacted Alberta in 2013. Unfortunately the most insurers in Canada still do not cover overland flooding (e.g. due to rain, storm, melted snow etc) and thus we suggest to check with your insurer if these cases are typically covered.

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How Can You Save on Home Insurance in Medicine Hat?

  • Renovations: Renovating your house can result in lower home insurance premiums, as home insurance premiums for older, poorly maintained homes are usually higher. Also, updating only parts of your house, such as the basement or kitchen, may lead to savings on your insurance.
  • Heating: Insurers like forced-air gas furnaces or electric heat installations. If you have an oil-heated home, you could be paying more for insurance.  Keep this in mind when you are house hunting.
  • Home Insurance deductibles: Raise your deductible to lower your premium.
  • Bundle: Most companies offer a discount if you bundle polices, such as home and auto.
  • Change your content coverage: Do you rent an apartment or condo? You can often lower your content coverage. No need to insure your belongings to up to $250,000 if you only have a laptop and some IKEA furniture.
  • Wood stoves: Wood stoves increase your risk and could subject you to higher premiums and an inspection.
  • Wiring: Not all wiring is created equal. Make sure you have approved wiring and be sure to avoid aluminum wiring, which can be very expensive to insure. Not all insurers will cover houses with aluminum wiring, and those that do usually require a full electrical inspection of the house.
  • Plumbing insulation: Insulate your pipes to prevent them from freezing in the winter. This may reduce or even avoid insurance claims.
  • Professional Memberships: Are you a member of a professional organization such as Certified Management Accountants of Canada? Some companies offer discounts to professional members, and some organizations offer their members insurance policies.
  • Interested in more saving tips for Home Insurance in Medicine Hat? Get an insurance quote below and connect with an experienced insurance professional to get more tips

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