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Alberta Home Insurance Broker

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Alberta Home Insurance Broker

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Comprehensive Home Insurance in Alberta  

Your home is more than a home — it’s an investment, a place to cherish memories and to plan for your future. Moreover, it’s expensive. The average cost of home prices in Alberta has increased by six per cent in just one year.  

This is why Sharp Insurance believes in making insurance as simple as possible. We have some of Alberta’s best home insurance brokers who know the industry, the homeowners’ risks and who use technology to make dealing with your insurance coverage easy. 

We offer more than your typical home insurance policy in Alberta — we offer the absolute best. We work with a variety of Canada’s top-rated insurance companies to enable you to get the best coverage for the best price. Moreover, our Alberta home insurance quotes are competitive.   



Alberta Home Insurance  

In Alberta, home insurance coverage varies depending on your insurer and the choices you make when you purchase a policy. Unlike auto insurance, there is no mandatory coverage. 

 Here is what is typically offered: 

Personal liability

If someone has their property damaged or is hurt while visiting your home (unintentional actions) this coverage helps you cover the damages and resulting legal expenses if you are sued.

Property damage

This coverage protects you if you need help rebuilding or repairing your home (or any of its external structures) if they are damaged due to an insurable peril. This coverage also extends to your belongings.

Additional living expenses

This coverage helps reimburse you if you’re forced to evacuate from your home because of a covered claim. It covers things like accommodations, food and transportation.

Some policies may also include coverage for lock replacements if you’re a victim of theft or even frozen food replacement if a covered claim spoils your food. Endorsements may also be available for identity theft coverage. 

Work with an Alberta home insurance broker to determine how much coverage you need. Some homeowners may only require what is considered standard coverage, where others may need much more. 


Is home insurance mandatory in Alberta?

Purchasing home insurance in Alberta is not a requirement. However, if you have a mortgage, your lender may require you to carry home insurance. You may need to provide proof of a comprehensive level of coverage. Do you need home insurance in Alberta? Absolutely.

Just think — if you couldn’t afford to rebuild your home or replace all your belongings if the worst happened, home insurance in Alberta would protect you.

Here are some of the main reasons you should carry home insurance in Alberta:

  • It’s mandated by your mortgage lender. 
  • You want additional support — such as additional living expenses — following a disaster. 
  • You could avoid the hassle of having to pay for a lawsuit if something happened. 
  • Replacing your personal items can be expensive. 
  • You want to avoid worrying about all the what ifs. 


What perils are covered by Alberta home insurance? 

Depending on your insurer and the level of coverage you choose when you buy your policy, what is covered may vary. The following are some of the most commonly insurable perils: 

  • Impact by vehicle or aircraft 
  • Smoke 
  • Explosion 
  • Lightning 
  • Weight of snow (causing a roof collapse) 
  • Fire 
  • Electrical current 
  • Wind 
  • Hail 
  • Falling object 
  • Riot, vandalism, theft and other malicious acts 
  • Certain types of water damage (usually caused by plumbing or appliances) 
  • Sewer backup* 
  • Overland water (flooding)* 
  • Earthquake and landslides* 

Perils marked with an asterisk may be purchased separately and aren’t typically included in your standard home insurance policy. For example, water coverage for homeowners may be an option you discuss with your broker. 

Alberta Home Insurance Coverage Options 

To ensure your policy is the best possible option for you and your circumstances, you’ll have plenty of options to choose from. Considering all coverage options may help to give you peace of mind and ensure your property is accurately protected.  

Firstly, you’ll have a list of coverages to choose from. These include the quantity and type of perils you’ll be protected from. Insurance companies will offer different levels. These are: 

Limited basic

Designed for properties that wouldn’t be insurable under normal circumstances, such as an as-is home. There is very limited physical damage coverage.

Named perils or basic

These policies only cover specific perils.


Covers your home for a comprehensive list of perils but provides only named perils coverage for your contents.


Offers the most protection for your home and stuff. Offers coverage for everything unless it’s specifically excluded.

After you’ve selected a level, you’ll need to choose additional coverages: 

Sewer backup

Covers damage caused by the backup of your home’s sewer and drains.

Overland water

Covers flood damage caused by the overflow of lakes and rivers, snowmelt and precipitation. 

Ground water

Some insurers offer coverage if ground water rises and floods your home.


Covers damage caused by earthquake, landslides and other earth movements.

Service line

Helps cover the repair or replacement of service lines on your property, including sewers, water mains, electrical cables and internet lines. 


Covers the costs for bringing your home up to current bylaws if you need to rebuild after an insured loss. 

Identity theft

Extends identity theft coverage to be more comprehensive. 


There are usually individual limits on your belongings, so if you have jewellery, sports equipment, electronics or collections that are worth more, you should consider protecting it with its own floater add-on. This will allow you to get the item or collection’s value if it’s damaged. 

Keep in mind some of these are included as part of a comprehensive package provided by some insurance companies in Alberta.

What is excluded in an Alberta home insurance policy? 

Most policies will have exclusions. Standard exclusions may include: 

  • Wear and tear 
  • Mould 
  • Damage caused by insects, vermin and animals 
  • Water damage from frozen plumbing if you’re away 
  • Any damage caused by illegal activities by the homeowner 
  • War or terrorism 
  • Nuclear incidents 
  • If your home is left vacant for more than 30 days in a row (and it isn’t being checked on regularly), you may not have any protection if your home gets damaged. See our blog for how to keep your home insurance current on vacation

You may also not be covered if your home is damaged due to earthquakes, landslides, sewer backup or flooding if you do not have the right endorsements.  

What your policy covers is dependent on your policy and your insurer. This is why working with an insurance broker is vital.  

Loss Settlement Options for Home Insurance in Alberta 

Your loss settlement options dictate the amount you will be entitled to receive following a covered loss. 

  • Actual cash value: This is the market price or purchase price minus depreciation. 
  • Replacement cost: This is the cost to replace the item as is. 
  • Agreed value: This is an agreed value for an item or building. This isn’t commonly used for home insurance but may be relevant if you’re insuring jewellery, a classic car or a heritage home. 

Your Alberta Homeowners Insurance Deductible 

What’s a deductible? Choosing a deductible amount for your Alberta home insurance is basically choosing the percentage of risk that will be allotted to you. This is, in essence, the amount you’ll have to pay in the event of a covered claim. Your deductible could range from as little as $500 to as high as $5,000. If your deductible is higher, your insurance premiums will be lower, but you’ll pay more out-of-pocket if you submit a claim. 

Choose the deductible that you are most comfortable with. Ideally, this is the highest amount you’d be willing to pay out-of-pocket.  

Some home insurance companies in Alberta offer what is called a “disappearing deductible” which diminishes the deductible with time if you are claims free. Consider it like a loyalty reward. 

Alberta Home Insurance Policy Limits 

Policy limits are the maximum amount you will receive as payout if you should have a covered claim. Different areas of your policy may be subject to different limits, i.e., your personal belongings or contents limits could be different than your dwelling’s limits. 

You’ll have several options when you choose your policy limits. You’ll want to select a limit that will fully cover replacing your contents and rebuilding your home, but not so high that you’re spending money on what you don’t need. 

An Alberta home insurance broker will be able to help you select the right policy limits, both for your needs and for your budget. 

Did you know?

Your geographical location factors into your rates. Research crime and claim rates in the neighbourhood before you decide to move in.

Get a Quote

Did you know?

Your geographical location factors into your rates. Research crime and claim rates in the neighbourhood before you decide to move in.

Get a Quote

Alberta Home Insurance FAQ 

Have any questions about your home insurance in Alberta? Sharp is proud to offer numerous innovative solutions for its homeowners in the province and we’re more than happy to answer any questions. 

You may have been labelled as high risk by Alberta home insurance companies due to the following reasons: 

  • You have been cancelled for non-payment  
  • Multiple mortgages 
  • Your home is empty 
  • You have an older home or heritage home without upgraded electrical/plumbing systems 
  • You’ve made a high number of claims 
  • You have a rural property 

Just because you’re a high-risk homeowner doesn’t mean it’s impossible to get home insurance in Alberta. It simply means that it might become more difficult for you to find the right coverage. As a result, you may have higher premiums, less coverage or less choice for your payments. 

Request an Alberta home insurance quote online and we’ll discuss the best coverage for the best price.  

These terms are all the same thing, just different labels. They’re insurance protection for your property. 

Home insurance is a generalized term utilized to describe all types of personal property insurance in Alberta, including insurance for condos, homes, apartments, owners and renters. Homeowners insurance is something that is used to differentiate homeowners from renters.

Unlike auto insurance in Alberta, there’s no standard for how much coverage you require. 

We always recommend having a comprehensive, or all-risk, policy with limits that adequately protect you without you needing to break the bank. 

The best way to assess your coverage needs is to work with one of our Alberta homeowner insurance brokers. This means you will have someone who understands the ins and outs of insurance. They can also work with you to determine your insurance needs, find the most appropriate coverage for the best price and answer all your questions. 

There are a few ways to get affordable home insurance in Alberta, like: 

  • Bundling your insurance policies with one company 
  • Raising your deductible 
  • Shop around and get home insurance quotes from different companies 
  • Install security devices like a burglar alarm 
  • Install a loss mitigation device like a sump pump 
  • Upgrade your roof, exterior finish, heating, plumbing or electrical 
  • Ask about discounts 
  • Review your insurance yearly 

To save as much money as possible on your Alberta homeowner’s insurance, work with a broker! They handle the price shopping on your behalf to ensure you’re getting the discounts you need. 

The Cost of Home Insurance in Alberta 

Here are some variables that may impact your home insurance rate in Alberta: 

  • Your insurance and claims history 
  • Your credit rating 
  • Your home’s construction (materials and type) 
  • The size of your home 
  • How much it would cost to rebuild your home 
  • If you have a pool, trampoline or other risk 
  • If you have security or loss mitigation devices installed (e.g., burglar alarms, sump pumps) 
  • If you rent out a room or suite in your home 
  • Proximity to the nearest fire station and fire hydrant 
  • The claim and crime rate of your area 
  • The frequency and severity of natural disasters 
  • How close you are to risks like rivers 
  • Which discounts you’re eligible for 
  • Your policy options: loss settlement, policy limits, deductible and coverages 

In essence, this means you could have two homes side-by-side that have entirely different home insurance premiums. 

Work with the Best Alberta Home Insurance Brokers 

As an independent, fast-growing digital insurance broker — one of the best in Alberta — Sharp specializes in using technology to make getting insurance easier. We have excellent staff who will offer great customer service and really know their stuff. 

Sharp offers a digital app and a web portal that allows you to manage your insurance wherever and whenever it’s most convenient for you. With these applications, you may download or print your pink cards, submit claims, review coverage and even request changes. It works on all mobile devices. 

We work for you before any one insurance company and have access to numerous home insurance companies in Alberta. With us, you can get the most competitive home insurance quotes in Alberta and get the best protection — for the best price. 

Fill out a quote form or call us to get your free online home insurance quote in Alberta today. 

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