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

There are various forms of insurance that you can get. When it comes to your home, you can easily find insurance brokers in Calgary that can provide home insurance. However, did you know that you can also get condo insurance?

If you’re a condo owner, it might be in your best interest to consider looking into condo insurance and see if the cost of coverage is worth your dime!

Encapsulating the Cost of Condo Insurance in Calgary

What is Condo Insurance?

So what exactly is condo insurance? And what does it cover? Condo insurance is mainly regulated to coverage in your unit. These include the possessions in your unit, storage locker, and any possible personal liability claims in case someone is injured at your place.

Here is additional coverage that condo insurance provides in the case of any loss or damage to the following:

Personal belongings
The inside of your condo unit
Possible theft
Unit renovations from you or previous owners
Common spaces (i.e. hallways & elevators) resulting from an accident within your unit
Additional living expenses

Worried Woman Holding Bucket While Water Droplets Leak From Ceiling in Living Room.

Why Get Condo Insurance?

Many might wonder why condo insurance is even necessary. After all, the whole point of you owning a unit is that the condo fees can handle what needs to be covered. However, a condo corporation’s building insurance policy can vary in what is covered for the building and individual unit owners.

When it comes to a condo corporation, they ensure the building’s insurance coverage through the condo fees that you pay monthly. Yet, the thing about condo fees is that it’s regulated to only the building – not your unit. The condo fees you pay go towards the building’s upkeep through snow removal, utilities, lawn care, parking garages, and repairs to the building’s common spaces.

In essence, a condo building’s insurance policy doesn’t fully cover damages and losses for individual unit owners, but more so for communal coverage that extends to the building’s common areas. But with condo insurance, you can rest assured that if anything were to occur in your unit, it would be covered. You won’t risk assuming your building’s insurance will cover anything and be surprised by unexpected expenses.

That’s why it’s important to review a condo building’s insurance policy when comparing condo insurance coverage and whether you’re considering moving into a condo.

What’s the Cost of Condo Insurance?

Currently, in Calgary, condo corporations have higher insurance policy rates, resulting in increased condo fees for unit owners. As a result, condo insurance rates have been steadily climbing since 2021. The reason is from recently damaging hailstorms. The June 2020 hailstorm in Calgary saw a whopping $1.2B in insurance claims.

Despite the increase in condo fees, condo insurance has remained relatively steady in rates. In Calgary, you can expect the average cost of condo insurance to be between $30-$50 per month or $400 to $600 annually. The prices will vary depending on the location, building age, and risks. Compared to home insurance in Calgary, paying for condo insurance is more affordable.

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].

Insurance brokers in Calgary can offer a variety of insurance depending on your specific needs for coverage. When it comes to saving money on insurance, there will be different methods on how to save depending on what type of insurance you have adopted.

Check out how you can save money on most standard insurances!

Combining Insurances

Paying for two different types of insurance can get costly. If both insurances are a necessity, then combining them can be proven to be cost-effective. One popular combination insurance companies offer is paying your home and car insurance together under them exclusively. Not only do you receive a discount for doing so, which saves you money and can cut some costs on your premiums as well. In essence, you’re getting more bang for your buck by taking advantage of these types of bundled insurance plans.

Reducing Coverage

Sometimes a little goes a long way. It makes sense that folks would want maximum coverage in case the worst occurs and their bases are all covered. However, there is such a thing as going overboard when it comes to insurance coverage. You might be spending unnecessary money on coverage that you might not even use at all. Best to review the details of your insurance coverage and discern what policies to keep or eliminate. In this way, you can not only have insurance that best reflects your needs and save money as well.

Higher Deductibles

Paying out of pocket may seem unappealing when dealing with a claim. But when you increase your deductibles, your future self will be thanking you in the long run for doing so. How does considering a higher deductible save you money when you’re paying more? Let us explain. Higher deductibles can be incredibly beneficial in the case of a major loss and can lower your premiums. Lower premiums are certainly worthwhile for those with travel insurance that plan to be abroad for months. It helps bring extra ease to finances for a traveler.

Pay Premiums Annually

Many are used to paying most bills monthly. With insurance, you can pay monthly as well, but it might not be the best method to pay for coverage. Monthly payment lapses with your insurance might have you spending more than necessary. By paying your premiums annually, you only need to worry about paying one big sum once a year. This route has proven to be the best in cost saving as some insurance companies can offer you discounts for choosing to pay annually instead of monthly. If you can swing paying a large amount, then this would be highly lucrative for you to consider in the long term.

Your bags are packed and you’re ready to hit the road! But did you make the necessary plans and arrangements?

No one likes to consider the possibility of a mishap occurring during their vacation, but you can’t always bank on optimism. Purchasing travel insurance is an important step to include while planning out your trip.

We examine what travel insurance entails and why it’s so important.

Why Should You Get Travel Insurance?

What is travel insurance?

Unfortunately, medical emergencies can occur while you’re out of the country. Travel insurance covers emergency medical costs while you are outside of Canada, potentially saving you thousands of dollars.

What if I already have Canadian health insurance?

It is not guaranteed that your Canadian health insurance will cover your medical fees while you are out of the country, as you are not utilizing Canadian hospitals or services at the time. Additionally, provincial or territorial governments may only cover a partial amount of the costs, at best.

Meanwhile, the cost of treatment as a foreigner can be incredible, with some international hospitals requiring payment before treatment. If you are without payment or insurance, some countries will refuse to treat you.

What should be travel insurance policy include?

According to the Government of Canada, travel insurance should always include the following aspects:

Medical evacuation

Should the country where you’ve injured yourself not have adequate treatment methods, your policy ensures you’re transported to a country that can properly care for you.

Pre-existing medical conditions

It’s recommended that you get a written agreement regarding your policy covering your pre-existing condition. Travel insurance is often denied in cases of pre-existing conditions that are not disclosed before travelling. Therefore, confirm with your insurance broker or travel agent that the policy will cover you should something happen while you’re out of the country.

Repatriation in case of death

The plan should cover expenses related to bringing your remains back to Canada.

When buying your travel insurance, there is no such thing as too many questions. Take the time to be thorough, for the more advanced planning you do, the less you’ll have to worry while out of the country.

Insurance brokers are an important part of the insurance industry, but many consumers don’t really know what they are or what they do. If you fall into that category, keep reading to learn about insurance brokers in Calgary.

What are Calgary Insurance Brokers?

An insurance broker provides you with financial advice and products. Typically, they have established relationships with a variety of insurance companies in Calgary and can help you find the insurance products those companies offer that best meet your needs. Some insurance companies in Calgary have insurance agents that work directly with customers. These agents are different from insurance brokers because they are employees of a specific insurance company.

Where Can I Find an Insurance Broker in Calgary?

The best way to find a good insurance broker is usually to ask your friends and family for recommendations. If they have a broker they work with and recommend, that’s a great place to start. You can also check online or in the newspaper.

How Do I Know if the Insurance Broker is a Good One?

While there’s no way to know for sure if the insurance broker you’re interested in will provide you with good service, asking the right questions can help you gauge your compatibility. Start by asking about their qualifications and make sure they are a registered professional with a degree from a respected university. Next, find out about their experience. The broker should have experience both in the insurance industry in general and in the specific type of insurance you need. Make sure they offer the services you need as well. If you want both car and life insurance, meet with a broker who is capable of providing both instead of just one.

Working with insurance brokers in Calgary can help you find the right insurance to meet your specific needs.

Filing an insurance claim can seem like a daunting task because you may not have done it before. Thankfully, it doesn’t have to be a difficult process; a little planning and knowledge about the process can boost your confidence. Here’s how to file a claim with insurance companies in Calgary.

5 Steps To Making A Claim With A Calgary Insurance Company

1) Determine the Type of Claim

The first thing to determine is what type of claim to file. Often this is straight forward. If your car was damaged in an accident, file an auto insurance claim. If your home was broken into or damaged, file a claim for home insurance in Calgary. Depending on the type of claim you file, the process varies a little, but the basic structure is similar.

2) Contact the Authorities

The first thing to do in the case of an accident, injury, or damage is to contact the proper authorities. Often this is the police, but it may also be a contractor who can assess the damage to your home and provide a quote for repairs.

3) Document the Damage for Calgary Home Insurance

Resist the urge to get things back to normal as quickly as possible; you’ll need to carefully document the damage to your home, vehicle, or property. Take pictures or video of the damage.

4) Contact Calgary Insurance Companies

Contact your insurance company immediately to start the claim process. Usually the easiest way to do this is by making a phone call, but many insurance companies in Calgary also offer online forms for submitting claims.

5) Work with a Claim Specialist

Once your claim is reported, you’ll get assigned a claim specialist or adjuster. They’ll investigate the claim and work to get it settled. Provide any additional information they need to complete the process.

Filing a claim for auto or home insurance in Calgary isn’t difficult once you know how.

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.

Why It’s Important to Hire an Insurance Broker in Calgary

Buying insurance can be a difficult, challenging experience, but working with an insurance broker makes the whole process much easier. Brokers translate industry jargon and navigate policies to help you find the best insurance policy for you.

Here’s Why It’s Important To Hire Insurance Brokers In Calgary.

Calgary Insurance Brokers Get to Know You Part of what makes insurance brokers in Calgary different from insurance agents is that they don’t work for a specific company. They work with a variety of insurance companies in Calgary so they can match you with the policy that best meets your needs. To do this, brokers first take time to get to know their clients.
Insurance Brokers can Help File Insurance Claims Filing insurance claims can also be complicated, but insurance brokers in Calgary can help you with this task too. They know the proper way to file claims to help you through the process.
Calgary Insurance Brokers Have Your Best Interest in Mind Brokers working with insurance companies in Calgary depend on their reputation in the industry and work harder to defend it. Selling a bad policy, or one that doesn’t meet their clients needs well, can negatively impact the insurance broker’s future business. This means brokers keep your best interests in mind because it’s in their best interest to fully meet your needs.
Insurance Brokers Understand the Intricacies of the Marketplace Since insurance brokers work with different insurance companies in Calgary, they develop a detailed knowledge of the insurance marketplace. Hiring an insurance broker means you can put that valuable expertise to work for you. With their vast knowledge of the market, brokers can help you find and understand the best insurance policies.

Hiring insurance brokers helps you navigate the insurance marketplace and find the policies that work best for you. 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].

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 can you do to make your Calgary home insurance company lower the price of your premiums? Saving money on your home insurance can help you save for a new car or a family vacation. Here are a couple of things you can do to get a better price from your Calgary insurance brokers.

Lower Home Insurance Premiums by Installing Deadbolt Locks

On all of the exterior doors, you should install a deadbolt lock to add more security to your home. Deadbolt locks don’t have springs, which adds additional security. You can cut your premium by as much as five percent with your Calgary home insurance company.

Pay Your Home Insurance in a Timely Fashion

Some Calgary insurance companies will give you an incentive if you pay every 10 days instead of 30. Prompt paying could lead to getting a discount.

Pay For Home Insurance Six Months in Advance

Some people prefer to pay Calgary insurance companies six months in advance. While it means spending more money at one time, making payments in advance can also lower the overall cost of your home insurance Calgary premium.

Shop Around For Good Insurance Policies

If you haven’t shopped around for your insurance, you may not be able to spot a reasonable price when you see one; going with the first insurance provider you come across could be a mistake. Additionally, if you do shop around for other Calgary insurance brokers, you can compare prices and services. If you find a company you like, you may want to ask if they will lower their prices, based on the research you have done.

Avoid Filing Home Insurance Claims For Small Things

Filing too often for things can lead to your Calgary home insurance company raising the rates or even dropping you as a client. Avoid filing for small items and be reserved when it comes to more considerable expenses.

These are the five different ways that you can save a little extra on your insurance premiums. Keeping these tips in mind can lead to extra savings.