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Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$84.22Jul 24, 2024, 04:44 PMAuto63FemaleM1J2C8
$43.53Jul 24, 2024, 06:04 PMHome47MaleL7P1Y9
$29.37Jul 24, 2024, 09:54 AMTenant41MaleN8W5N7

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Article Contents
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated on May 30, 2024

Visit author page
Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated May 30, 2024

Visit author page

5 minute read

Article Contents

Quick Facts About Home Insurance in Brooks

  • Brooks home insurance is LESS expensive than the Alberta average.
  • The average annual cost of home insurance in Brooks is around $1,205.

What Risks Affect Homeowners in Brooks

Brooks is often exposed to extreme weather. Here are some common risk factors homeowners in Brooks should watch out for:

Crime

Crime levels vary in each city, but the overall crime rate in Alberta rose 5% between 2022 and 2023. A higher crime rate means you may encounter more theft, vandalism, and other incidents that damage your home. 

Fire

Alberta sees an average of 208 wildfires annually from 2018 to 2022. However, that number doubled in 2023 with 416 wildfire incidents as of May. The fire risk in Alberta is high because the natural freeze and thaw cycles create dry grass that can ignite and start wildfires. Moreover, fires can start from human error due to lit cigarettes, candles, and electronic malfunctions. Wildfires are a major concern, but you should still be careful not to set off house fires. One of the freshest house fires in memory happened in January 2023, where one person died and three others made it out.

Flooding

Due to heavy rain and snow melt, Alberta is prone to flooding. Many of these are flash floods, meaning you may not have enough time to prepare. Since flash floods come with little to no warning, your property damage may be more severe.

Hail and storms

Damage from high winds, storms, and hail is very common in Alberta. Adverse weather can damage your roofs, windows, and outdoor furniture if you don’t take steps to mitigate their effects.

On-property accidents

Accidents can happen anytime and anywhere, regardless of how safe your home is. People may hold you liable for slips and falls that happened on your property, which is where home insurance comes in. Home insurance policies can cover numerous costs related to a slip and fall lawsuit.

How Much Does Home Insurance in Brooks Usually Cost?

Home insurance in Brooks costs around $1,205 annually. 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 belongings.

Housing Data in Brooks

Brooks is known as “The City of 100 Hellos” because it’s one of Canada’s most culturally diverse cities, with around 48.4% of its population identifying as visible minorities. Living in Brooks means you can sample the cuisine and experience the arts of various countries worldwide without travelling long distances.

Brooks also boasts strong agriculture, manufacturing, oil, and gas industries due to the region’s wealth of farmable land and natural resources. This means Brooks’ distance to big cities shouldn’t be a problem since you can find careers within the city.

Homes in Brooks are also much more affordable. The average home price in Brooks is about $180,000 cheaper than the provincial average. Additionally, living costs in Brooks are 17% cheaper than the national average. This means you can potentially save a lot of money by living in Brooks.

Is living in Brooks a good idea, and what kind of home is most popular? Research can help you find the answers. Here’s a look at key housing data in Brooks from the 2021 Census of Population:

Type of Occupied Dwelling

Just over half (54.5%) of the 5,140 households in Brooks live in single-detached homes. Low-rise apartments and row houses are the city’s second and third-most popular dwelling types, with 15.5% and 11% shares, respectively. Notably, 7.7% of households live in movable dwellings like recreational vehicles and mobile homes.

Owner vs Renter Stats/Condo vs Non-Condo Owner

Based on the 25% sample data taken for the census, nearly two-thirds (64.8%) of households in Brooks own their homes, while the rest are renters. Condominium dwellers comprise 10.2% of the city’s households, with the remaining 89.8% living in non-condos.

Private Dwellings by Period of Construction: New or Older Homes?

The largest portion (39.1%) of households in Brooks live in homes built from 1961 to 1980. Households living in homes built from 1991 to 2000 and 1981 to 1990 are the second and third-most numerous, with 17.7% and 12.2% shares, respectively.

Major Repairs or Just Maintenance Needed?

Homes in Brooks are generally well-maintained, with 94% of households only requiring regular maintenance and minor repairs on their homes, while the remaining 6% needed major repairs.

Homeownership Rate by Age in Brooks

Homeownership in Brooks is mostly high among the older population (40+ years). The relatively low homeownership percentage of 46.3% among young adults (25-39) suggests that the city doesn’t attract as many young professionals as some other cities in Alberta.

Age GroupHomeownership Rate
15 to 2428.1%
25 to 3946.3%
40 to 5470.9%
55 to 7476.2%
75 and over78.6%

Brooks Population Growth

While Brooks has a relatively small population, it experienced a 3.27% population growth between 2016 and 2021.

What Is Not Included in a Typical 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:

Criminal activities

If your home was damaged due to criminal activity, it won’t be covered by your insurance policy.

Damage from tenants

Generally, home insurance companies require specific coverage for homeowners/landlords who plan to rent out their properties. A standard home insurance policy won’t include coverage if you rent your home out and the tenant causes damage.

Earthquakes

Most policies exclude this risk, but you can cover earthquake losses and damage as an add-on to a standard policy.

Failure to maintain your home

Damage or losses caused by poor home upkeep (e.g., clogged storm drains, broken bannisters) won’t be covered, as your insurer deems it your responsibility to manage wear and tear.

Flood damage

Flooding is typically not covered by a standard policy, but it may be included as an add-on.

Home business activities

Home businesses will need separate home-based business insurance to cover home or equipment damage.

Insect damage

Because this is considered a preventable risk, most insurers don’t cover insect damage.

Mortgage or property taxes

These are separate expenses handled by policy owners as they’re unrelated to your home insurance policy.

Mould

Mould caused by poor home maintenance is typically excluded by home insurance policies. Note that this is separate from mould caused by an insured peril, which will be covered by your policy.

Vacant dwelling risks

Many insurers may void your insurance if you leave your home vacant for a prolonged period.

This is by no means an exclusive list of risks typically excluded from a home insurance policy in Brooks. 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 Brooks?

There are many risks to your Brooks 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 Brooks to make the right decisions.

You technically don’t need home insurance in Brooks, 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:

Loss or damage protection

Home insurance protects your property from perils like fire and theft. It does so by providing financial compensation if your property experiences loss or damage due to unforeseen events.

Mortgage requirements

Your mortgage lender may require home insurance as part of their loan conditions. Lenders tell borrowers to get home insurance to protect their investments.

Liability coverage

In addition to protecting your home, insurance provides liability coverage to settle legal fees if somebody gets injured on your property.

How You Can Get Cheap Home Insurance in Brooks

If you’re looking for tips on how to save money when getting home insurance in Brooks, visit our Alberta home insurance page.

Methodology

Profiles

Average rates were calculated using a standard profile and incident profiles. All personal details pertaining to the quotes and policies have been kept confidential.

Standard Profile

Quoted rates are based on either a 35-year-old male and/or female homeowners with a clean claim history and good credit. They are also non-smokers and live in a home with monitored fire alarms and burglar alarms. The homeowners also have a $1,000 deductible, a $1,000,000 liability and water damage included.

Incident Profiles

We examined how rates change by evaluating profiles. We looked at the most common home insurance claims in Canada: water damage claims, sewer backup claims, breaking/theft claims and property damage claims like wind/hail damage while comparing to a rate with a clean record (standard).

Home Details

Quoted rates are based on either a semi-detached or detached 3 or 4 bedroom home with a valuation around or close to $1,000,000.

Team

MyChoice data science, MyChoice research.

Sources

1. Mychoice.ca Internal Data, Home Insurance Quotes Collected, 2024.

2. Statistics Canada, 2021, Census of Population, Alberta, Brooks, Housing Statistics. Data Published March 29, 2023.

3. Statistics Canada, 2021, Census of Population, Alberta, Brooks, Homeownership Rate by Age. Data Published December 16, 2022.

4. Statistics Canada, 2001-2021, Census of Population Statistics, Alberta, Brooks, Population Statistics. Data Published December 16, 2022.

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