You will need the following information to ensure that you get an accurate home insurance quote in Alberta:

• Square footage of your home
• Year your home was built
• Details on any upgrades or modifications
• Your exact address
• Your personal home insurance claims history

Ever wonder how home insurance rates are determined in Alberta? If yes, here are three things to know:

• Home insurance history is tied to you, not the home you’re living in or looking to live in. Insurers are interested in your past 10 years of home insurance claims history, if applicable. If you’re interested in moving into a home that had a home insurance claim on it two years ago, that doesn’t matter. They care about the claims history of the homeowner, not the home itself.
• The value of your home matters. In the unfortunate event that your home suffers major damage or is destroyed, the insurance carrier will set a limit on your home’s replacement cost.
• Home insurers track data on the amount of home insurance claims in your area, which can mean city and/or province. If you live in an area that is susceptible to overland flood damage, your insurance company will be aware of this. This is why, all things equal, a home will cost more to insure in one area as opposed to another.

Not all online insurance carriers offer the same discounts as their competitors. Using Surex’s home insurance marketplace, we’re able to get you more discounts, which helps us get you the best home insurance Alberta providers have to offer.

Ask your insurance broker how you can use the following discounts that we have to receive the most affordable home insurance rates:

• Bundle discount
• Good credit discount
• Mortgage-free discount
• Alarm/home security discount
• Loyalty discount
• Renewal discount
• Claims-free discount
• Age discount
• Sewer back-up discount
• New business discount
• Flex discount
• Smoke-free home discount
• Occupational discount
• Household discount
• Multi-lines discount
• Gated community discount

Depending on where you live in Alberta, certain coverage might be required by insurers for homes in your area. These coverages, such as overland flood coverage (if you live in an area susceptible to flooding), are non-negotiable for your home insurance policy.

If a coverage isn’t mandated, but you’d like to invest in the best home insurance Alberta has to offer, your Surex Personal Assistant will be able to provide answers to any questions you have, to help you make an informed decision.

There are a lot of things that can affect your home insurance rate in Alberta, and ultimately impact the price you pay:

1.Your Insurance & Claims History — Rates for Alberta home insurance are heavily influenced by your insurance and claims history. Here are some examples of things that positively impact your insurance: the longer you've had insurance the better you look to insurance companies, not switching mid-term and paying on time. On the flip side, the number of claims you've made can negatively impact your premiums; fewer claims can equal cheaper rates.

2.Your Credit Rating — You may be able to get a discount by letting the insurance company check your credit rating - not all companies offer this - but it provides proof that you are likely to pay your insurance on time, making you look like a better client.

3.Your Address — Where you live has a huge impact on a number of factors that determine your home insurance premiums in Alberta. They include:

• The proximity to a fire hydrant and fire station — Being farther away from fire services gives you a stronger likelihood of your home being damaged by fire.
• The frequency and severity of natural disasters — The frequency and severity of flooding, wildfires and hail storms impacts your rate because you are more likely to make a claim. Unfortunately, Alberta sees several natural disasters - several of the most expensive in history - and makes it more expensive to insure a home in Alberta.
• The crime rate of your neighbourhood — Higher crime areas tend to be more expensive to insure as they assume you will be more likely to make a claim, or be a victim of theft.
• The claim rate of your neighbourhood — The neighbourhood claim rate can depend on several different factors ranging from income, to the age and building types of homes, as well as how often they experience severe weather conditions.
• The proximity to hazards such as rivers — If you live near a river, you are at a higher risk of events such as flooding and some companies may increase your rates.

4.Your Home’s Age, Type and Building Material — Obviously the older your home is, the more likely it is to have problems simply due to wear and tear over time. Also, the type of building and what it is made of is also a factor that can impact your home insurance rate in Alberta. For example, a wood-built home with regular siding will most likely be more expensive than a house built of concrete or stucco (wood will likely be more damaged in a fire or hail storm).

5. The Age and Type of Roof — Maintaining your roof is highly important and choosing the right materials is critical as this is what protects your home from the elements. The older your roof, the higher your home insurance premiums may be in Alberta.

6. Your Home Systems — We've talked about the 'bones' or structure of your home, but what's inside also matters. Your home's plumbing, electrical, heating and other systems can all impact your rates. Older, more outdated systems can cause damage and be more expensive to insure. For example, knob and tube wiring - specifically used before 1940 - has a higher fire risk, as well as wood-burning stoves. These should all be taken into consideration when finding insurance.

7. Replacement Cost of Your Home — The costs of how much it will be to rebuild your home (labour and material costs) and replace all of your belongings (appliances, furniture and personal effects), are all factored into your home insurance prices in Alberta.

8. Your Insurance Options — The options you choose to protect your home in Alberta also influence your insurance rates, so doing your homework will pay off.

These include:

• Deductible amount — this is the amount you will pay if you have a covered claim.
• Policy limits — this is the maximum amount paid out in the event of a claim.
• Coverage options — the options you choose depending on what is necessary for your home and can fit your budget.