Edmonton Home Insurance BrokerEdmonton home insurance, while not required by the government, is a necessity for your mortgage company or lender. Securing home insurance is strongly recommended to avoid the financial burden of paying for unexpected damages out of pocket.
- Rest Easy Knowing Your Insurance Broker Helped You Find the Right Policy with the Best Coverage
- Protect Your Biggest Investment from Unexpected Large Losses or Claims
- Coverage Against Unanticipated Liability Claims and Defence Costs
Home Insurance in Edmonton with Leibel Insurance Group
Finding the right home insurance in Edmonton can be a complicated process without an insurance broker on your side. Leibel Insurance Group continues to offer clients great rates and award-winning services as we have for over 40 years!
When you buy home insurance with Leibel, you are protecting your home from damage due to weather, fire, explosion, theft, and so much more. Home insurance is not required for homeowners; though, without it, any damage to your home or personal contents is your personal responsibility to pay for. If you have specific concerns when it comes to the best protection of your home, different coverages can be added to typical home coverage giving you a perfectly designed policy to meet your needs.
Why Choose Leibel Insurance for Home Insurance in Edmonton
Choosing a home insurance company that works for you and your family’s personal needs is extremely important. As an award-winning insurance brokerage; Leibel Insurance Group is confident that our qualifications, experience, and track record speaks for itself.
Factors That Affect Home Insurance in Edmonton
There are several factors that can affect your home insurance in Edmonton. These factors include the size of your home, whether you live in a Co-op or rent your home, and your deductible. If you are unsure of the right type of insurance for your home, consult with your insurance broker.
If you own a co-op building, your home insurance premiums may differ from other Edmonton residents. For starters, co-ops share common areas like hallways, pools, tennis courts, clubhouses, and so on. If your unit experiences wind storm damage, the co-op master policy may cover repairs to your walls and windows. The master policy may also cover damage to your ceiling and floor. If you live in a co-op, you may want to purchase additional insurance that covers personal items.
A co-op is similar to a corporation. The members of a co-op buy shares of the corporation. In most cases, the amount of shares required for a unit depends on its size.
Renting a Home
When you rent a home in Alberta, it is best to get a renter’s insurance policy. This type of insurance policy covers the contents of your rented property as well as liability. However, it does not cover the building itself. A homeowner’s insurance policy would cover the costs of rebuilding the property, as well as several other risks that come with owning property.
You should contact your insurance company and ask them if they offer rental endorsements. While the cost of such coverage may increase, it can help protect your home in the event of an emergency. Also, talk with your insurance broker about emergency coverage. For example, if you were to experience a fire, your landlord may not cover the cost of alternate housing, which can put a strain on your finances. If your landlord is unwilling to cover these costs, you may need to pay for hotel bills and childcare.
Size of Your Home
A larger home can cause a higher home insurance premium. The reason for this is that a larger home will require more repairs and cost more to rebuild. However, a larger home is also less likely to sustain extensive fire damage. There are many factors that influence your home insurance in Edmonton. For example, clay roofs tend to last longer than concrete or asphalt roofs, while steel-beamed homes are less likely to be damaged by fire. Pit bulls, on the other hand, are more likely to cause home insurance claims.
Luckily, Edmonton has affordable housing costs, and this means that home insurance is less expensive than in other large cities. However, this does not mean that there are no risks. As with any other big city, Edmonton has its fair share of natural hazards. The cold weather and burst pipes are two common threats in the region, so it pays to make sure you get extra coverage to protect yourself against these risks.
The deductible on your home insurance policy can affect the cost of your coverage. Lower deductibles require a higher premium, while higher deductibles reduce your monthly premium. Your deductible depends on your budget, your yearly household income, and other out-of-pocket expenses. The deductible is the first portion of a claim that is paid by the client, so it’s important to choose the amount you can afford to pay in the short term and in the long run.
The best way to get home insurance in Edmonton is through a broker, as this ensures that they can get you multiple quotes from different insurance companies. You can pay your premiums monthly or yearly. If you have an emergency or claim, the insurance company will review your claim and reimburse you after the deductible is paid. However, this claim will appear on your insurance history.
Your Coverage Options
When you buy home insurance in Edmonton, you have a variety of coverage options available. Some are more expensive than others, but they can protect you against the costs of replacing your home or other belongings. The cost of home insurance in Edmonton is often lower than in other large cities, due in part to the relatively low price of housing. However, the city does have its share of inherent risks, such as freezing weather and burst pipes. Your insurance agent can help you determine the level of coverage you need.
What Risks Does Edmonton Home Insurance Cover?
The specific risks your home insurance will cover entirely depend on the specific policy that you choose. Typically speaking, home insurance policies cover:
Theft and Vandalism
When your home is broken into and items are stolen, you may feel like a part of you was taken with it. Having home insurance cannot prevent thefts, but it can help you cover costs to replace your belongings.
Lighting striking your home can damage external and internal components. You can never control where lightning strikes, but with home insurance, you will always be prepared.
Some Water Damages
Water damage can have a lasting impact on your home’s structural integrity and the belongings inside. Home insurance can cover certain types of water damage; consult with your Leibel Insurance Group broker to discuss exactly what your policy covers.
What Items Does Edmonton Home Insurance Cover?
Edmonton home insurance covers a large variety of items from the outlined perils.
Your building and other property structures
Your home’s physical structure and additional structures such as garages and sheds are protected by your home insurance policy. It will protect your structure from risks such as fires, lightning, or other risks that are covered in your home insurance policy.
Your home contents
The physical replacement costs for your personal belongings will be covered if they are damaged or stolen.
Additional living expenses incurred if you have to move out because of a claim
If you cannot live in your home following a claim, your policy can help cover any additional living expenses such as a hotel.
For more information on Edmonton home insurance, call Leibel Insurance Group and speak with one of our brokers today to see the difference for yourself!
Why make insurance complicated when it can be simplified into an uncomplicated mobile app. Our award-winning MYLEIBEL app is available to clients 24/7/365 and is the fastest and simplest way to communicate with Leibel Insurance. From the palm of your hand, you’ll be able to inquire about making any necessary changes to your policy or view your policy document with just a few messages in the mobile chat.
Edmonton Home Insurance FAQ
As an Edmonton homeowner protecting your home from unexpected losses is always a great idea. Here are five of the top frequently asked questions regarding Edmonton home insurance.
What Is Not Included In Home Insurance?
While Edmonton home insurance covers a lot, there are also quite a few things that likely won’t be covered by your policy.
- Normal wear and tear
- Problems resulting from neglect
- Sewage backup
- Rodent and pest damage
Tips To Get The Best Home Insurance In Edmonton
The best way to get the right home insurance rate in Edmonton is to take a good look at all your options. Speak with a broker about the exact coverage you are looking for in order to find the best Edmonton home insurance for you and your family.
How Do I Save On Edmonton Home Insurance?
The best way to save on your Edmonton Home insurance is to bundle your home and auto coverage. By bundling your home and auto insurance, you can save. With a joint policy, you can easily help keep annual costs low and manageable. Not to mention, you can save time by working with one broker.
Find out how you can save even more when you purchase your Edmonton homeowner insurance with Leibel Insurance Group. Call or fill out a form online today for more information or to receive your quote.
What Is Not A Factor In Determining Home Insurance Rates?
Home insurance is very different from car insurance because the factors used to determine rates are differ. Several variables including gender or experience will not have an impact and as such these will not be used to determine your rate. Home insurance primarily focuses on the home itself, so factors like your marital status, for example, would not affect the rate you receive.
What Is A Home Insurance Peril?
A peril is an exposure to the risk (home) of being damaged, destroyed, or injured. If your home were to be struck by lightning, for example, this would be considered a home insurance peril or in the event, someone injured themselves in your home that would be a peril. It’s important to understand that your home insurance policy is not a maintenance plan, you cannot use it if your roof has degraded over time because your policy would not cover a replacement. Thus the onus on a homeowner to maintain their property.
Do I Have To Have Photos Or Receipts For All Major Items In My Home?
While you cannot keep receipts for every item you purchase, it is recommended that you take clear pictures of major items that might be subject to a loss. Doing so can provide you with a number of benefits. These photos will allow you to know what you have and will serve as proof that you actually own the items you have included in your claim. This would also help you be prepared because the reality is that you never know when a loss can occur, so it’s best to have the necessary documentation.
What Is A Home Inventory List?
This is a list of the personal belongings in your house and generally contains items along with their value and receipts and a brief description. Both homeowners and renters should have an inventory list of their belongings because this would help you choose the right amount of coverage while simplifying the claims process. Losses can happen at any time, and tracking your contents through a record would ensure you are covered. One of the simplest ways to prepare a home inventory list is to walk around your home room by room recording each room. Once completed you can send it to a cloud-based email and reference it in the event of a claim loss.
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