Compare Alberta home insurance quotes

Building coverage – Home insurance protects your physical home, of course. Your building coverage is there in case your dwelling is damaged due to risks, such as fire and severe weather – it'll pay the repair or rebuild costs involved.

Contents coverage – Aside from your physical home, contents insurance is there to protect your personal belongings (e.g. furniture, technology, clothes) in the event of loss or damage. Keep in mind that certain valuables have set limits, so you may need to add an endorsement for added protection.

Liability coverage – Liability insurance protects you financially against from third-party claims of bodily injury and property damage. Say your mailman slips and falls on your driveway – in this case, your policy can foot the medical bills, settlement fees, and legal expenses. 

Additional living expenses coverage – If you're unable to live in your home due to an insured loss (e.g. fire), your policy can help cover the added expenses you're facing during this period. Some examples include hotel bills, restaurant meals, and storage expenses. 

Home-based business insurance – This type of coverage protects small-scale operations against commercial-related risks (e.g. damaged inventory), in the event you run an at-home business. Standard home insurance policies typically won't pay out these claims without an endorsement. While you most likely won't need business insurance as a freelance writer, you may want to purchase coverage if you run a daycare or manufacture products out of your home. For larger businesses, consider purchasing commercial insurance separately. This will provide a more comprehensive coverage package, including general liability, professional liability, and business interruption insurance.

Umbrella insurance – An umbrella policy is sold as separately, but it can be used to extend the liability limit on your home insurance policy. For instance, if you only have $1 million in liability coverage, but you're facing a $2 million claim, your umbrella coverage can foot the second half of the bill. It also applies to auto liability suits and general claims of liability (e.g. slander, defamation). 

Identity theft insurance – In the unfortunate event that your personal information, such as your passport, bank password, or credit card, is stolen with the intent to commit a crime, this coverage can help you out financially with the recovery. 

Personal valuable insurance – This is an extension on your contents insurance. For certain valuables, such as jewelry and artwork, insurers will only pay up to a certain limit, unless you have this addition on your policy.

Home-sharing insurance – If you participate in short-term renting (e.g. Airbnb, Vrbo), you'll want special coverage to ensure you're protected against any unique risks. This can include the theft of your own personal items and guest liability lawsuits. While platforms like Airbnb and Vrbo offer some form of coverage, it won't be enough to cover you comprehensively. Before you list your home online, make sure you contact your insurance company ahead of time. Only select insurers offer short-term rental property insurance, and if yours doesn't, it may be time to shop around.

Flood insurance – Standard home insurance policies won't cover you for flooding due to overland water or sewer backup unless you have these add-ons in place. Consider adding these to your policy if you live in a high-risk area.

Earthquake insurance – You'll also need this add-on if you want to be covered for losses and damages due to an earthquake. This is usually specified as an uninsured peril unless you purchase an endorsement.