Name: Lakeview Insurance
Address: Calgary, AB
Telephone: 403-287-2521

As a renter, you may assume that your landlord’s insurance will cover any damages or losses to your personal property. However, this is not always the case. That’s why it’s important to consider purchasing rental insurance, also known as tenant insurance. Here are some reasons why rental insurance is worth it, with a focus on home insurance in Calgary.

1. Protect Your Personal Property

One of the main benefits of rental insurance is that it protects your personal property. This includes items such as furniture, electronics, and clothing. If your personal property is damaged or stolen due to a covered event, such as a fire or theft, your rental insurance will help cover the cost of replacing these items. This can provide peace of mind knowing that your personal belongings are protected.

2. Liability Coverage

Another important aspect of rental insurance is liability coverage. If someone is injured while visiting your rental property, you may be held liable for any damages or medical expenses. Rental insurance can help protect you in the event of a lawsuit or liability claim. This can help cover the cost of legal fees, settlements, or judgments.

3. Additional Living Expenses

If your rental property becomes uninhabitable due to a covered event, such as a fire or flood, rental insurance can help cover additional living expenses. This may include the cost of a hotel, food, and other necessities while you are temporarily displaced from your rental property. This can provide valuable financial assistance during a difficult time.

4. Affordable Premiums

Despite the numerous benefits of rental insurance, it is often quite affordable. Premiums for rental insurance typically cost only a few hundred dollars per year, depending on the coverage limits and deductible you choose. This makes it a cost-effective way to protect your personal property and provide additional liability coverage.

5. Required by Landlords

In some cases, landlords may require tenants to purchase rental insurance as a condition of their lease agreement. This is becoming increasingly common in Calgary, as landlords recognize the importance of protecting their tenants and their own property. By purchasing rental insurance, you can ensure that you are meeting your landlord’s requirements and protecting your personal property at the same time.

In conclusion, rental insurance is worth the investment for renters who want to protect their personal property and provide additional liability coverage. With its affordable premiums, required coverage in some cases, and additional benefits such as coverage for additional living expenses, rental insurance is a smart choice for any renter. Be sure to consider home insurance in Calgary for all your rental insurance needs.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

Add Your Heading Text Here

Many Canadian homeowners may be confused about home insurance. With auto insurance, you must have a policy in place no matter what. But is that the same case with home insurance? Here are the facts.

Home Insurance in Calgary & Canada

The short answer to the big question is that home insurance is different from auto insurance. It is not mandatory to have home insurance in Calgary. You are not coming into contact with other people that may possibly get hurt as with an automobile.

This does mean that you can go without a home insurance policy if you want to save money. But it’s important to understand what can happen if something happens and you are not covered. Your home is one of the biggest investments that you’ve made.

Natural disaster, wear and tear, and accidents can lead to you having to pay for huge repair expenses. One good example is roof damage. Roof damage is one of the more common issues that homeowners deal with. Even if your roof is in good conditions, fluctuating weather conditions and storms can lead to damage.

This will only cost you a few hundred dollars if you have home insurance in Calgary. But it may cost you thousands of dollars in repair costs without insurance. In many cases, the home insurance policies will more than pay for themselves.

When getting home insurance, it’s important to understand what kind of coverage you’re getting. Some homeowners assume that they are going to get coverage if they deal with flooding. However, this is not the case.

There may be a separate flooding premium that you may have to get on top of an existing home insurance policy. This is the same case if you deal with sewage issues. It’s important to ask your insurance company on the specifics and options you have available.

In addition to actual damage to your home, you want to see how much coverage you get for personal property. Many plans will come with coverage for your belongings. You want to get an idea of how much protection the specific plan provides you with.

In conclusion, home insurance isn’t mandatory in Canada. However, it’s probably something you don’t want to go without as damage will often result in you paying far more for necessary home repairs.

Whether you want to change your current home insurance policy or you’re about to buy a new home, you want to make sure that you get a plan that’s affordable. When looking at different options, you may run through the necessities only to be stuck with a certain price point. That’s why you need to think about how to get the best rates early on in the process. Here are some solid tips to go about doing that.

1. Shop Around for Quotes

While every home insurance in Calgary will be based on various factors unique to you, you should still shop around. Talk to different home insurance providers to get a list of rates. Just make sure that you get all the coverage that you’d need as some policies may exclude some important things.

2. See If Providers Offer Special Discounts

Did you know that providers often offer discounts? For example, having installed smoke alarms can cut down your rates. So can replacing an old roof. Ask the provider about what kinds of discounts can be had and see just how many you can take advantage of.

3. Pay a Higher Deductible

Paying a higher deductible up front will often result in lowering your rates. And when you do have to make a claim for damage incurred on your home, you’ll have to pay lower rates on deductibles for high claims to get the full coverage.

Child Drawing and Mother Working at Home in Time of COVID-19

4. Bundle Multiple Policies Together

Some insurance providers will give you discounts if you take out multiple policies with them. For example, if you combine auto insurance with business insurance, you may get a better rate on not only your home insurance in Calgary, but also all of your other policies.

5. Make Your Home Disaster Resistant

Do you live in a high risk area? This can affect how much you end up paying for your home insurance. Things like heavy storms, flooding, and rampant theft negatively impacts your rates. But there are things that you can do such as installing storm shutters, securing against flooding, setting up security cameras, and more. Ask the provider what you can do to counteract your risks and lower your rates.

Add Your Heading Text Here

You know you need home insurance to cover you in case of worst-case scenarios. But you’re probably worried about how much it’s going to end up costing you. Here is a general idea of what you can expect to pay in the Calgary area.

How To Find The Cost of House Insurance in Calgary

Start with Proper Coverage

If you’re looking for home insurance in Calgary, you want to make sure that the plans provide the coverage you need. The insurance plans should cover things like theft, fire, water damage, and general damage to your home.

For example, if a storm floods your basement or if your roof gets damaged, the insurance plan should cover the costs. These kinds of events can end up costing you thousands, even tens of thousands of dollars depending on the extent of the damage. You do not want to be caught without insurance in these scenarios.

Average Rates in Calgary

In general, the average rate for home insurance in Calgary is around $80 to $100 a month. This works out to around $1100 annually. At the same time, your rates will be based on many different factors.

Factors that influence your rates include the condition of your roof, the location of your house, insurance claim history, credit score, age of your home, and more. The biggest factors will most likely be the state of your home and your personal financial history.

There Are Many Kinds of House Insurance

House insurance isn’t just limited to residential homes. It’s important for you to know that you can get insurance for condos, mobile homes, detached homes in your property, and even home-based business insurance if you run a business out of your home.

In addition, you can also opt to get renters insurance if you are renting your current place. This can cover things like theft, damage to personal property, and living expenses if you need to vacate the home due to a wide variety of issues.

Get the Best Rates

As with everything, you want to contact Calgary insurance brokers for quotes. While rates are important, you also need to consider the coverage and reliability of the company. You want to go with a company that’s going to provide great coverage and have a reputation for paying out the full amount you require.

Home insurance in Calgary is important. You need to keep your home protected in case of the unexpected, and in Calgary that means snowstorms, winds, extreme heat and way more. However, the costs associated with your plan does not have to be unexpected. Instead, you can take control of your premiums by looking into these five cost-saving measures.

4 Ways To Save Money On Your Calgary Home Insurance

Save More by Bundling Your Calgary Home Insurance

You can usually reduce your premiums when you take out multiple policies with the same Calgary insurance company. This means that you use the same company for your homeowners insurance, auto insurance and more. The more policies you bundle, the more you can probably save.

You Can Reduce Premiums by Raising Your Deductible

The second way to get your premiums in check is to change the nature of your policy. In most cases, you can pay less each month when you raise your deductible. Some people like the peace of mind of a lower deductible, but it comes at a cost. If you want to save money now, look into upping your deductible instead.

Control Your Insurance Costs by Improving Your Home and Upping your Security

The next two tips to save on home insurance in Calgary are related. The more secure your home is, the less risky it is to your provider. Therefore, when you invest in certain home upgrades, you may get an insurance break. Similarly, if you install a security system, then you may be eligible for further cost reductions. Sometimes spending more on your home means you’ll be getting back more in the long-term.

Manage Your Premiums by Shopping Around

The last way to make sure your premiums are low is to shop around. There are options for a Calgary insurance company. Check out all the prices, and pick the one that works for you.

Whether you rent or own your home, it makes sense to protect your investment in case of a disaster. Insurance is the way to do just that, but you may wonder what it will cost. Keep reading to learn more about the cost of home insurance in Calgary.

Factors that Affect the Cost of Calgary Home Insurance

Many factors influence how much you’ll pay for home insurance. One of the biggest ones is the size of your home. Larger, more expensive homes cost more to insure because they are more expensive to repair. Some of the other factors include the home’s proximity to a fire station, whether or not smokers live in the house, the age of the home, and the deductible.

The Average Cost of Home Insurance

Obviously, home insurance costs vary dramatically based on many factors. However, the average cost for home insurance in Calgary is about $80 to $90 per month. Renters usually pay less for rental insurance, often between $15 and $40 per month.

Ways to Reduce the Cost of Calgary Home Insurance

You can’t skip out on home insurance, but there are ways you can help lower the cost. Insurance companies in Calgary often give discounts for things like preparing your home for extreme weather, updating your home, and installing security features. Talk with insurance companies to see what kind of discounts they offer.

Balancing Cost and Coverage with Calgary Insurance Companies

Keep in mind that finding the lowest price isn’t necessarily all you want from a home insurance policy. You want a policy that properly balances cost and coverage. Insurance companies in Calgary can help you find competitively priced coverage that meets your needs.

Now that you know more about the cost of home insurance, you’re ready to find the policy that’s best for you.

Having your home invaded is difficult and unpleasant, but it can happen to anyone. Knowing what to do helps take some of the stress out of the situation. Follow these steps from insurance companies in Calgary if you experience a break-in.

Home Insurance Tips On How To Handle A Break-IN

Do Not Confront the Burglar
If you arrive home to discover it was broken into, don’t go inside. The burglar might still be there or you could disrupt criminal evidence. Call the police immediately and wait for them to determine the scene is safe. If you’re at home when the break-in happens, find a safe location immediately, preferably one that’s outside the house. Contact the police immediately, and don’t try to confront the burglar.
File a Police Report
After the police arrive and secure the scene, it’s time to begin the police report. Determine what items were stolen and the extent of the damage. Provide the police with any information you have about the event, such as footage from an alarm system. Insurance companies in Calgary often use this information when they process claims.
Contact Your Insurance Company in Calgary
Notify your home insurance company within 24 hours of a break-in to start a claim. They can help you recover the value of the stolen items. Give the insurance company all the information they need to complete the claim.
Clean Up After the Break-In
Once the police file their report and the Calgary home insurance claim is in process, it’s time to clean up the damage. Put away any items that were strewn about, remove markings from walls, secure broken windows or doors, and do everything you can to get your home back to normal.

Use these steps after a break-in to initiate a home insurance claim and return order to your home as quickly as possible.

Some decisions shouldn’t require much thought, like deciding to buy home insurance. Preparing for the unexpected can save you a bundle if something does happen. But the fact that it’s easy to decide to get insurance doesn’t mean it’s easy to find the right policy without spending too much.

Use These Tips To Help You Save Money On Home Insurance in Calgary

Compare Calgary Insurance Companies
Shop around and see if any insurance companies in Calgary are offering discounts. Check memberships as well; sometimes being a veteran, part of a college alumni association, or other clubs and associations can get you a discount.
Improve Your Home
Upgrading your home can lower premiums as well, particularly if you’re in an older home. Ask insurance companies in Calgary if they’ll give you a lower rate if you complete home improvements that make the house safer. This usually involves a core element, like plumbing or wiring.
Understand the Difference between Actual Cash Value and Replacement Cost
Home insurance comes with a variety of options that affect the price. One big one is whether you choose a policy with actual cash value (ACV) or replacement cost. ACV is the current value of your home and property, while replacement cost is what it takes to replace your home and property. A replacement cost policy generally has higher premiums, but is a better choice for homeowners.
Agree to a Higher Deductible for Your Home Insurance
Increasing your deductible can significantly reduce premiums. Just remember that means you’ll need to pay more before insurance kicks in, so set aside the necessary funds.
Consider an Umbrella Policy from Insurance Companies
It doesn’t save money initially, but is a big benefit if you ever need home insurance in Calgary for a large claim.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

What considerations should you have when looking at Calgary home insurance? You have a couple of traits that you can use to measure the value of a broker. Let’s have a look at what separates a good broker from one a bad one.

Look at Expectations

You should ask your insurance brokers Calgary company for a quote. In doing this, you discover how fast they can come back to you with a quote, and you can measure their effectiveness overall. Also, pay close attention to how the Calgary home insurance company explains your coverage. Does it seem cloudy? This could signal a red flag.

What Type of Insurance Do You Need?

Some insurance companies Calgary options will offer more value than others based on what you want to achieve. Meanwhile, you have other policies that will have maddening limitations. For example, some will only give you the necessary coverage when you want full coverage for your home.

Do They Have Experience in Home Insurance?

Finding a Calgary home insurance company that has experience in this specialized field can lead to a better offering. Before you ever trust a company, check their technical knowledge of home insurance. Look at the letters they have after their name. Some of the most common designations include:

ARM
CPCU
CRM
CIC

The most important insurance designations are considered the CPCU and the CIC. However, while this lends credibility to the Calgary home insurance broker, a professional continuing their education and constantly reading about the industry has an even greater importance. You want a company that stays sharp.

These traits in an insurance can spell the difference between a good company and a bad one. Unfortunately, you usually don’t learn the difference until you have to fall back on their policy, but you can tell a lot about a company based on the terms inside the policy, reviews and how they act.