Home insurance is not mandatory anywhere in Canada, but many lenders will only mortgage a home that’s insured. Coverage has many additional benefits, including protection for the home’s contents as well as liability protection if someone is injured while visiting the property – or, if the homeowner unintentionally causes damage to someone else’s property.
Those looking for home insurance quotes in Toronto should first consider what protection a policy offers. Regardless of policy type most cover the following:
Next, we encourage Red Deer homeowners to consider how providers structure insurance policies. There are generally three types of home insurance policies:
Since no single policy provides coverage for every peril, many homeowners prefer to add coverage for more protection than policies provide out-of-the-box. These are considered optional coverage, ‘add ons’. They may also sometimes be called ‘endorsements.’ Some of the most popular include:
Get multiple Red Deer home insurance quotes in the time it takes to get just one.
According to RATESDOTCA’s Home Insuramap tool, the average cost of home insurance in Red Deer in 2022 was $2,401.33. This is slightly above the provincial average rate of $2,339.
The home insurance premium in Red Deer falls at the lowest end of Alberta’s 10 most expensive postal codes. The average for the entire province is a premium of $2,271, with parts of Calgary (in the T3A 0A1 area) paying $3,085 per month.
|T4S0A1||$2,590||Sylvan Lake, Red Deer|
|T4E0A1||$2,527||Red Deer County|
|T4P0A1||$2,497||Jenner Crescent, Red Deer|
|T4R0A1||$2,490||22nd Street-Ivany Close, Red Deer|
|T4N0A1||$2,217||40th Ave-Selkirk Boulevard, Red Deer|
|Source: Alberta Insuramap 2022|
Home insurance premiums in Red Deer and Red Deer County (the municipality that surrounds the town,) range between $2,217 and $2,590. If you live in Sylvan Lake, you will end up paying the highest home insurance premium in Red Deer at $2,590 per annum, compared with other postal codes in the area. Residents of 40th Avenue and Selkirk Boulevard pay the lowest premium of $2,217 per year in Red Deer.
Red Deer is a more rural area than other areas in the province with lower crime rates and theft. Insurance rates reflect the area and insurance claims.
Red Deer home insurance rates fall under the expensive cities category in Alberta. Edmonton has cheaper home insurance compared with other cities, while larger urban areas show the realities of big city living and the risks associated with home ownership in those parts of the province.
Providers consider many factors when determining a rate for homes in Red Deer. In general, they’re trying to figure out how likely it is that a policy holder will file a claim. To do so, they look at details of the home as well as the homeowner:
|Company||Type of Company||Phone||Address|
|Allstate Insurance||Insurance agency||587-802-3302||2325 50 Ave Unit 128, Red Deer, AB T4R 1L2|
|BrokerLink||Insurance agency||403-358-6062||4311 54 Ave Suite 120, Red Deer, AB T4N 4L9|
|Ing & McKee Insurance||Insurance agency||403-346-5547||20 Sharpe Ave #6000, Red Deer, AB T4R 0V2|
|Insurance Hotline||Quotes comparison||1 (855) 821-7312||360 Adelaide St. W. Suite 100, Toronto, ON M5V 1R7|
|LowestRates.ca||Quotes comparison||1-855-487-6911||1910 Yonge St. Suite 401, Toronto, ON M4S 3B|
|North Hill Insurance||Insurance agency||403-314-0258||5105 76A Street Close, Red Deer, AB T4P 3M2|
|Progress Insurance||Insurance broker||587-797-4110||5114 58 St #225, Red Deer, AB T4N 2L8|
|RATESDOTCA||Quotes comparison||1-855-487-6911||360 Adelaide St. W Suite 100, Toronto, ON M5V 1R7|
|Scoop Insurance||Insurance company||1-416-955-6286||300 Lincoln St. Unit 22, Welland, ON L3B 4N4|
|Sun Life Financial||Financial consultant||403-346-2041||4950 51 Ave, Red Deer, AB T4N 7C6|
Find answers to all your Red Deer home insurance questions here.
The easiest way to find the cheapest home insurance in Red Deer is to compare available rates. Our online tool takes less than three minutes, is free and will provide Red Deer home insurance quotes from dozens of the most-trusted insurance providers in the country.
In addition to comparison shopping, homeowners can reduce their insurance costs by bundling their policies, agreeing to a credit check and increasing their deductible. Other savings tactics include paying upfront for the full-year policy term, mitigating risk by installing alarms (security, fire and carbon monoxide detectors). It’s also important to tailor a policy to make sure that it includes the coverage they need and nothing more.
As a homeowner in Red Deer, you should be aware of the potential risks your home faces, so you can customize your home insurance coverage accordingly. Here are all the different risks homeowners face in Red Deer:
Yes, we recommend that any homeowner in Red Deer who is renting out a portion of their home – on either a short- or long-term basis – inform their insurance provider to avoid having a claim denied. In addition, landlords may consider different coverage and limits than are provided by standard homeowner policies.
To file a claim when the home and its contents are damaged or stolen – or, if the homeowner unintentionally damages someone else’s property - they should immediately contact their home insurance provider.
It’s also wise for homeowners to have an up-to-date inventory of their belongings. This will make the claims process easier and eliminate potential debate during the claims process about the value and condition of the home and its contents.
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