How Does Home Insurance Work In Airdrie?
When you get a home insurance quote in Airdrie with MyChoice, you’re receiving a comprehensive policy that goes beyond just the basics — including Guaranteed Replacement Cost, which ensures your home will be rebuilt to its original condition even if the cost exceeds your dwelling coverage limit.
Your quote is made up of two main pillars: Base Residence / Dwelling (covering your home, contents, liability, and standard perils) and Enhanced Water Protection (covering floods, sewer backup, and groundwater seepage). Together, they form a complete protection package for your property and belongings.
| Coverage Type | What’s Included? | Average Annual Home Insurance Premium |
|---|---|---|
| Base Residence / Dwelling | – Dwelling Coverage – Outbuildings (detached structures) – Contents – Personal Liability – Voluntary Medical Payments – Voluntary Property Damage – Basic Water Damage | $1,582 |
| Enhanced Water Protection | – Sewer Backup Endorsement – Ground Water Endorsement – Overland Water Endorsement – Broad Water Damage Endorsement | $315 |
| Coverage Total: | $1,897 |
*A comprehensive home insurance policy protects your property and belongings against all perils except those specifically excluded by the policy. This typically includes: fire and smoke damage, wind and hail damage, lightning strikes, burst pipes (depending on the situation), falling objects (like trees or branches), theft and burglaries, and vandalism.
Base Residence / Dwelling Coverages:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Dwelling Coverage | Covers the cost to rebuild your home after insured damage. | $1,000,000 |
| Outbuildings (detached structures) | Covers the cost to rebuild the detached structures (i.e. garages, sheds, fences). | $150,000 |
| Contents | Protects your belongings from damage or loss due to covered perils. | $750,000 |
| Personal Liability | Legal & medical costs if someone sues you for injury/property damage. | $1,000,000 |
| Voluntary Medical Payments | Pays limited medical expenses if someone is accidentally injured on your property, regardless of fault | $4,500 |
| Voluntary Property Damage | Covers small amounts for accidental damage you cause to someone else’s property (or damage caused by a minor in your care | $1,500 |
| Basic Water Damage | Protects against sudden and accidental internal water damage (e.g., burst pipes or overflowing appliances | $1,000,000 |
*Please note that the average coverage limits in the tables above and below are based on the dwelling coverage of $1 million and can vary by house and carrier.
Enhanced Water Protection:
| Coverage Type | Coverage Details | Average Coverage Amount/Limit |
|---|---|---|
| Sewer Backup Endorsement | Pays for damage caused by sewage or septic systems backing up into the home. | $100,000 |
| Ground Water Endorsement | Adds protection against damage from ground‑water seepage, which is not covered by standard policies. | $250,000 |
| Overland Water Endorsement | Covers damage from freshwater entering your home from rivers, lakes or heavy rainfall. This is typically optional and recommended for homes in flood‑prone areas. | $250,000 |
| Broad Water Damage Endorsement | A catch‑all rider that may combine overland water, sewer‑backup and ground‑water coverage and may also include protection for seepage or ice‑damming (depending on the insurer) | $250,000 |
Home Insurance Price in Airdrie by Dwelling Type
Below is the average home insurance price in Airdrie, categorized by dwelling type:
| Type of Dwelling | Average Annual Home Insurance Premium |
|---|---|
| Detached | $1,897 |
| Semi-Detached | $1,745 |
| Freehold Townhouse | $1,631 |
How Airdrie Home Insurance Rates Compare to Nearby Cities
Airdrie’s home insurance rates are mid-level in central-southern Alberta—slightly lower than Red Deer and Airdrie but above Cochrane and Strathmore.
| City | Average Annual Home Insurance Premium |
|---|---|
| Airdrie | $1,897 |
| Calgary | $2,345 |
| Cochrane | $1,521 |
| Strathmore | $1,724 |
| Red Deer | $1,909 |
| Brooks | $1,957 |
How Airdrie Home Insurance Rates Compare to Provincial Average
Home insurance in Airdrie costs around $1,897 annually, lower than the provincial average. Home insurance premiums are affected by factors like your home’s age, roofing type, proximity to fire hydrants, and more.
Using your home as a place of business may also influence your home insurance rates. Using your home for business means more people coming in and out of your property, increasing your liability and risk of losing your belongings.
Common Home Insurance Discounts in Airdrie
Certain insurers offer home insurance discounts that can significantly reduce your premium — sometimes by up to 20% when combined. Please note that these discounts depend on your property type, condition, the insurer and even external conditions like natural disasters or crime rates in your specific area. Talk to your broker or insurer to learn more about what discounts they offer in your area.
Here’s a look at the most common discounts you can get on home insurance in Airdrie:
| Discount Type | Average Percentage Savings | Average Discount Value |
|---|---|---|
| Multi-Line (Home + Auto) | 11.4% | $216 |
| Claims-Free Discount | 16.5% | $313 |
| Alarm System (Burglar) | 7.5% | $142 |
| Alarm System (Fire) | 5.0% | $95 |
| Membership Discount (CAA) | 10.0% | $190 |
| Non-Smoker Discount | 7.5% | $142 |
What Risks Affect Homeowners in Airdrie
Airdrie is often exposed to extreme weather. Here are some common risk factors homeowners in Airdrie should watch out for:
Probability of Significant Disasters in Airdrie
On June 19, 2013, widespread flooding in southern Alberta affected many communities, including Airdrie, which implemented local advisories as water levels rose.
The following MyChoice probability scores for Airdrie are based on historical data from the Canadian Disaster Database (CDD), which has tracked major disasters in Canada since 1950. These scores represent the relative likelihood that each type of significant event could occur at least once in Airdrie over the next decade. The comparison is made against both other regions in Canada and other types of events, helping illustrate where the greatest risks to homeowners may lie.
According to the CDD, an event is classified as significant if it results in 10 or more deaths, 100 or more people affected (injured, evacuated, or left homeless), an appeal for national or international assistance, historical importance, or severe damage that prevents a community from recovering on its own.
Housing Data in Airdrie
Located just 28 minutes north of Calgary, living in Airdrie means you’ll have an easy time commuting to the city for work and pleasure. However, that doesn’t mean Airdrie is just Calgary’s bedroom community. With fast population growth and the rise of new businesses, working in Airdrie is also a viable option if you’re thinking about moving there.
Airdrie isn’t lacking in activities, either. The city boasts 1,500 acres of parkland for you to explore and enjoy. You also have a host of local attractions like museums, antique stores, and gift shops you and your family can explore.
The average single-family home price in Airdrie is $80,000 under Calgary’s. Townhomes are also $70,000 more affordable in Airdrie compared to Calgary. If you’re looking to live outside the big city but still have easy access to it, Airdrie can be the perfect choice.
Thinking about moving to Airdrie? Checking the city’s housing landscape is a good idea since it’ll help you understand whether it’s right for you. Here’s a closer look at the residential statistics of Airdrie courtesy of the 2021 Census of Population:
Homeownership Rate by Age in Airdrie
Homeownership in Airdrie is predominantly high among individuals aged 25 and older, with particularly strong rates in those aged 40 and up. The significant 74.3% ownership rate among the 25 to 39 age group suggests a robust engagement with the housing market among younger adults.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 24.5% |
| 25 to 39 | 74.3% |
| 40 to 54 | 84.7% |
| 55 to 74 | 82.5% |
| 75 and over | 80.5% |
What Is Not Included in a Typical Airdrie Home Insurance Policy?
Even if you’ve opted for a highly comprehensive home insurance policy, there are some risks that insurers explicitly don’t include as a covered peril. These are called “exclusions” by home insurers.
Here are the most common home insurance exclusions:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Airdrie. Talk to your home insurance provider to see what’s covered by your policy in case of loss or damage.
Why Do I Need Home Insurance in Airdrie?
There are many potential risks to your Airdrie home. From flooding due to heavy rain to fires, unforeseen incidents can damage your home or its attached structures severely, which can take a lot of money to repair. Somebody can even get into an accident on your property, which might result in hefty legal and medical fees.
Unexpected expenses due to these incidents can stretch your finances thin. The good news is that home insurance can help. A home insurance policy can foot your home repair bills if a covered peril damages it. Additionally, it pays for the many costs associated with personal injury lawsuits.
With the many options for home insurance, which one is right for you? There’s no one “best” home insurance policy for everybody, so you need to learn more about home insurance in Airdrie to make the right decisions.
You technically don’t need home insurance in Airdrie, because it’s not a legal requirement for homeowners. However, you should still get a policy to protect your home as well as its contents. Here are three main reasons why having a home insurance policy is a good idea:
How You Can Get Cheap Home Insurance in Airdrie
Visit our Alberta page to view the list of recommendations on how to get cheaper home insurance.