By educating our clients, we hope to prepare them of the ways to minimize
increases in premiums for their Alberta Home Insurance policies. You have most
likely seen an increase in your premium and for some, the increase could be
significant. The increasing house insurance rates are due to the tragic
flooding and hail storms in Alberta in the last decade.
A commonly asked question is: I didn't have a loss, why should my rates go up?
When insurance underwriters calculate risk and determine the cost of Alberta Home
Insurance policies, rates are calculated based on the losses of a few, spread
amongst many policy holders. As the amount of insurance claims increases, the
cost of damages must be spread across policy holders, even those that haven't
filed a claim. No one can stop Mother Nature. You may not have had a
catastrophic loss yet but if you or your family does, you'll be thankful that the
prices are spread amongst many policy holders instead of the losses of the
Here are four activities our clients can pursue to minimize rate increases:
- Adjust your home policy to a higher deductible.
- Install an alarm system in your home (fire, water, burglary). Contact Darcy at Ambusch Securities in Red Deer at 403-346-8889.
- Ensure your broker is informed of any renovations or updates completed to your home.
- Combine your Alberta Home Insurance and Auto Insurance policies with Paramount Insurance.
Contact your Independent Insurance Broker today to discuss changing the amount of your deductible, how an alarm system can reduce your house insurance premiums, what renovations or upgrades will be eligible for a lower rate, or how you can combine your Alberta Home Insurance and Auto Insurance policies to save money on your premiums.