Experiencing the Air in Airdrie
Airdrie is a city of over 74,000 residents that is roughly 25 kilometers northeast of Calgary. Although it’s situated within the larger Calgary-Edmonton corridor, this vibrant city is the fifth most populous in Alberta. While several of the locals, also called Airdrites, regularly commute to Calgary, many work in downtown Airdrie, home to a variety of restaurants, bars and retail shops. Beyond that, close access to some of the best outdoor spaces in Alberta makes Airdrie a great place to put down roots. If you’re thinking about buying a home here, you should strongly consider purchasing Airdrie home insurance.
Why Is Airdrie Home Insurance Important?
While Airdrie isn’t generally known for having extreme weather events, hailstorms are not uncommon for the area, putting your home at risk of exterior damage. Although the summer months are mild, perfect for a day at the Airdrie Pro Rodeo, sometimes they bring heavy thunderstorms that can lead to water and wind damage to your home’s structure. The average home price in Airdrie is almost $687,000, with many single-family homes in the seven-figure range. Can you really afford to pay for major storm damage out-of-pocket? Here’s why you need home insurance.
Is an Airdrie Home Insurance Plan Required?
Alberta doesn’t require residents to have home insurance; however, most mortgage lenders require some owners to carry insurance. Your Aidrie home insurance plan protects the lender’s investment (as well as yours) from losses due to certain weather events and natural disasters, as well as theft, vandalism and fire. These are covered perils.
Here are the things that a typical home insurance policy covers:
- Dwelling: This is the structure of your residence, including roofs, walls and foundation. This also includes attached structures such as a garage.
- Other buildings and structures: Your policy would cover a detached garage, shed, fencing and other structures on your property.
- Personal property: The personal belongings inside your home and other covered structures are also covered by an Airdrie home insurance policy.
- Personal liability: If you unintentionally cause injury to someone or a third party is injured on your property, your policy can cover their medical bills.
- Miscellaneous: Most insurance policies also cover additional expenses such as temporarily living in a hotel as a result of a claim.
Most home insurance policies don’t cover disasters such as earthquakes and flooding. In Airdrie, summer storms and the melting of snow could cause water damage to your home that might not be covered by your policy. You may need to purchase flood insurance for your home. It’s important to know exactly what you’re getting as you shop for coverage.
What Will I Pay for Coverage?
The average cost for home insurance in Airdrie is about $1,737 per year. This is what is known as the premium. Your actual premium will depend on several factors, including the value of your home, the type of construction, your claims history and your deductible. The deductible is a sum of money that you’re responsible for in the event of a claim. Consider these tips for getting the best rates for Airdrie home insurance:
- Ask about discounts for security systems, fire alarms and smoke detectors.
- Increase your deductible. This will lower your premium, but you will be responsible for paying more out of pocket in the event of a claim.
- Bundle your home insurance with your auto insurance.