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Edmonton Insurance Options to Suit your Lifestyle and Budget

Finding insurance options that are ideal for your budget and your lifestyle is often a balancing act. Access to digital tools and insurance knowledge is the start. If you’ve just moved to Edmonton or bought a new car or home, it’s time to get help for all your insurance needs.

We provide you with everything you need to protect all your most precious investments – from your car that gets your kids to school to your RV that you use only in the summer.

Don’t get caught with debt and stress after a loss, such as a flood in your home, or hail damage to your roof. For affordable home, auto, condo, tenant insurance, and more – we’re here to help. Get a free online insurance quote today!

For your travel, auto, or condo needs and more, you can speak to one of our knowledgeable brokers.

Is Insurance Mandatory in Edmonton?‎

The range of insurance you need for your first home or your personal items in your apartment is a personal decision. While it’s not the law to have home insurance, it’s mandatory to have basic car coverage in Edmonton.

If you take out a mortgage for your home or finance your car, the lender or bank will require you to have proper insurance coverage. The lender’s details will be stated in the contract terms.

For other types of insurance, it’s up to you to decide whether it’s worth the cost. Insurance is a great investment and most people don’t have the disposable income to replace their belongings, rebuild their homes, or repair their vehicles.

What’s Covered by Insurance in Edmonton?

There are so many insurance options to explore in Edmonton, it can be overwhelming. A basic auto policy is straightforward. But what if you need multiple insurance policies for your home, business, or condo rental?

You may also want to change your coverage after major renovations to your home or plan out protection for a new bike. We’ll help you find the best coverage to suit your needs, which will depend on your insurance provider, your lifestyle, and your budget.

Government regulations in Alberta sometimes control your coverage options and how much you’ll pay on an annual basis. At Sharp, we keep you up-to-date on government legislation changes and how it may impact your life.

Work with one of Sharp’s Edmonton insurance brokers today; we’re more than happy to guide you through your unique process.

How to get the Best Business Insurance in Edmonton

The best way to get great business insurance in Edmonton is for business owners to stay current on what’s covered in a business policy, including the common types of insurance available.

What are the Common Types of Business Insurance in Edmonton?

7 Types of Business Insurance:
Professional Liability

this coverage helps you if you get sued and provides you with financial assistance.

Property Damage

this coverage protects you from losing money after a loss to your business property and items, including your furniture, computers, and other expensive items.

Commercial General Liability

if you unintentionally damage a visitor’s items or if they get hurt at your business, this insurance coverage will provide financial help.

Equipment Breakdown

mechanical or electrical failures happen. This coverage helps you pay for repairs or replaces new equipment.

Business Interruption

if a flood causes your business to close, this coverage will help you pay for items, including staff salaries and the heating bills.

Cyber Liability

Cyberattack or data breach protection is available with this type of coverage.

Commercial Auto

this helps you pay for any damage to vehicles used for work purposes.

The right protection will depend on your company’s insurance needs and budget, so it’s a good idea to work with an Edmonton insurance broker to ensure you’re getting the optimal coverage.

What to Know Before Buying Insurance in Edmonton

Buying your first home is a big deal, and so are your insurance policy selections. Included in your decision making is figuring out your loss settlement, your policy limits, and your coverage options.

Reading through your insurance policy is recommended but often time consuming. We will help you sift through the fine print and get you to what’s important for you – based on your unique needs.

What is a Loss Settlement Option?‎

A loss settlement option provides funds paid out to you by your insurance company after a loss or damage to an item.

3 Loss Settlement Options:

Actual Cash Value

also called the “fair market value,” or the purchase price minus depreciation. Actual cash value generally has a lower premium than the replacement cost option.

Replacement Cost

it will cover the cost of replacement, up to a certain amount.

Agreed Value

this is generally for specialty items like a classic car, artwork, or jewelry collection where the payout value is agreed upon beforehand and that’s what will be paid out.

Get the Right Coverage in Edmonton

Getting the right coverage in Edmonton is the perfect mix of protection and price.

What is a Policy Limit

A policy limit is the monetary amount that will be paid out by your insurance company in the event of a claim. There is generally an overall policy limit as well as limits on different parts of your insurance or even on individual items.

You have a choice as to what your limit is. Coverage options depend on what type of insurance you’re dealing with:

  • Home
  • Auto
  • Travel
  • Small business

What are the Factors that determine insurance prices in Edmonton?‎

Car and home insurance rates in Edmonton are relatively high compared to the provincial average. That’s why it’s important to know how to minimize your annual insurance costs.

10 Factors that Determine Insurance Rates in Edmonton:

  • Your insurance history
  • Your claims history
  • Your credit rating
  • Your demographics
  • Where you live
  • Insurance options
  • Loss settlement type
  • Policy limits
  • Coverage
  • Deductible

It’s only natural to seek out the best insurance companies in Edmonton, now that you know what elements go into calculating your insurance rates.

Sharp directs you to knowledgeable advisors close to your home; brokers who will give you the best service online and offline.

What are the Best Insurance Companies We Work With?

As an independent brokerage, we’ve earned our reputation as an award-winning brokerage. But we can’t take all the credit; we couldn’t provide you top-notch service without our major insurance company partners that give you competitive rates in Edmonton. They include:

How to Get Cheap Insurance in Edmonton

There are simple ways to get low-cost insurance rates in Edmonton. It could be as easy as paying a lump sum every year to pay your insurance bills instead of monthly fees. Ask your insurance company to see if any of the below tips apply to you.

10 ways to lower your insurance bill
  • Submit a claim only if you can’t pay out-of-pocket
  • Bundle & save (auto and home policies)
  • You may not need comprehensive insurance for an older car
  • Set a higher deductible, if it’s affordable
  • Install winter tires and notify your insurer
  • Avoid gaps in your insurance history
  • Cut down on your daily commute, or carpool to work
  • Research before you buy a new home or car (crime/claim rate, proximity to emergency services)
  • Maintain a healthy credit rating
  • Keep a clean driving record

If you hate shopping around, give us a call. We love helping our customers find the ideal rates to suit their insurance needs.

Why is Sharp Insurance the brokerage to work with?

At Sharp Insurance, we treat your insurance needs like they’re our own. We advise, negotiate on your behalf, and provide you with excellent customer service. Our advanced digital tools, initiatives, and

We work for you

We match your insurance wants with an insurer that has your best interests at heart.

We offer you choices

You can choose what coverage level you want at the best rates for your
home and toys.

We shop around for you
our expert Edmonton insurance brokers strive to find you ideal insurance rates.

We provide you with digital options
the MySharp app is a self-service portal that gives you access to your pink card, your coverage, your claims, and more.

We care about Your insurance Needs
our mission is to provide you with the best customer service every time you call or go online to get a quote.

How to Get a Free Online Insurance Quote in Edmonton?

At Sharp Insurance, we offer free online insurance quotes for Edmonton residents.

3 Easy Steps to get a free online quote:

  • Have your insurance information ready for a more accurate quote.
  • Request an insurance quote online or by phone.
  • Ask for quotes from several different insurance companies in Edmonton.

Apply online today and get a free quote in minutes!