Find the Right Taber Home Insurance Policy
Homeowners in Southern Alberta need insurance coverage to protect the value of their property against common regional risks. As of 2021, there are 3,481 private dwellings, including 2,405 single-detached houses, located in the Corn Capital of Canada. The average home value in Taber is around $450,000. Find out why owners of residences need Taber home insurance, and learn how a HUB International insurance broker can help homeowners select the right policy.
Why Taber Homeowners Need Insurance
Owners of homes in Taber are exposed to considerable risks posed by flooding, severe storms and property crime. Most Canadian home insurance policies cover storm damage, but additional coverage is often necessary for overland flooding. Find out more about the most relevant risks to consider when insuring a home in Taber:
- Overland flooding: The Taber Municipal District experienced catastrophic flooding in April 2018. Although flood mitigation measures, including the Horsefly Regional Emergency Spillway, are underway, runoff led to flooding again in the spring of 2023.
- Severe storms: Tornadoes can pose a risk to homes located in Taber. A tornado touched down south of the town on June 5th, 2012, and a possible tornado was spotted 30 kilometers north of Lethbridge moving northeast towards Taber on June 14th, 2023.
- Crime rates: The property crime rate in Taber is 31% higher than the national average. Homeowners should consider the incidence of theft and vandalism when insuring property against potential risks.
How To Customize Taber Home Insurance
Property owners can customize home insurance coverage by choosing the right type of home insurance policy and options for additional coverage. From the highest level of coverage to policies that only protect against named perils, homeowners can ask a HUB International insurance broker about any of the following types of policies:
- All-perils coverage: Comprehensive policies cover all risks to the structure and contents of a dwelling, with the exception of any named exclusions. These policies often exclude damage due to overland flooding, which makes it necessary for homeowners to take out supplemental coverage to cover the cost of repairing damage due to this risk.
- Broad form: Broad coverage includes all risks to the home of a policyholder, with the exception of any named exclusions, which makes coverage under these policies more complete than standard or named perils policies. Only named risks to contents are covered under broad Taber home insurance policies, which is also the case with standard policies.
- Flood insurance: Additional coverage for damage caused by overland flooding can be a good choice for owners of homes in areas of Taber that are prone to flooding. This type of coverage can be helpful when Chinooks or hot and dry winds referred to as "snow eaters," lead to flooding as snow melts.
- Sewer backup: Some homes in Southern Alberta are prone to basement or ground-level flooding. Coverage for sewer backups can reduce out-of-pocket expenses to repair damage caused by contaminated water.
Whether you choose a comprehensive, broad or standard policy, you can reduce the financial burden of repairing your home after damage due to a covered peril. If your home is located in an area of Taber that is prone to flooding, additional coverage for overland flooding or sewer backups can be a practical choice to manage the exposure of your home to the risk of significant water damage.