Strathmore is a town that sits about 25 minutes east of Calgary. It’s well-known as one of the bedroom communities of Calgary, similar to nearby cities like Okotoks and Cochrane. However, Strathmore is even smaller than those two cities, with a population half of Cochrane and roughly one-third of Okotoks. If you really want to experience authentic Canadian small-town life, living in Strathmore might be right for you.
Being smaller and somewhat further away from Calgary doesn’t mean Strathmore has no modern comforts. The town offers residents numerous recreational centres, modern healthcare providers, and high-quality schools. Plus, its smaller population means you won’t experience as much traffic in Strathmore.
Cost-effectiveness is another reason why you may benefit from living in Strathmore. The average home price in Strathmore is about $70,000 lower than in Calgary, and living costs in Strathmore are 14% lower than the provincial average.
How Does Home Insurance Work In Strathmore?
When you get a home insurance quote in Strathmore 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 | $1,438 |
| Enhanced Water Protection | – Sewer Backup Endorsement – Ground Water Endorsement – Overland Water Endorsement – Broad Water Damage Endorsement | $286 |
| Coverage Total: | $1,724 |
*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 Strathmore by Dwelling Type
Below is the average home insurance price in Strathmore, categorized by dwelling type:
| Type of Dwelling | Average Annual Home Insurance Premium |
|---|---|
| Detached | $1,724 |
| Semi-Detached | $1,586 |
| Freehold Townhouse | $1,483 |
How Strathmore Home Insurance Rates Compare to Nearby Cities
Strathmore’s home insurance rates are moderate in Southern Alberta, sitting below Calgary and Lethbridge but above nearby Cochrane.
| City | Average Annual Home Insurance Premium |
|---|---|
| Strathmore | $1,724 |
| Calgary | $2,345 |
| Airdrie | $1,897 |
| Cochrane | $1,521 |
| Brooks | $1,957 |
| Lethbridge | $2,333 |
How Strathmore Home Insurance Rates Compare to Provincial Average
Home insurance in Strathmore costs around $1,724 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 belongings.
Common Home Insurance Discounts in Strathmore
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 Strathmore:
| Discount Type | Average Percentage Savings | Average Discount Value |
|---|---|---|
| Multi-Line (Home + Auto) | 11.4% | $197 |
| Claims-Free Discount | 16.5% | $285 |
| Alarm System (Burglar) | 7.5% | $129 |
| Alarm System (Fire) | 5.0% | $86 |
| Membership Discount (CAA) | 10.0% | $172 |
| Non-Smoker Discount | 7.5% | $129 |
What Risk Factors Affect Homeowners in Strathmore?
Strathmore is often exposed to extreme weather. Here are some common risk factors homeowners in Strathmore should watch out for:
Probability of Significant Disasters in Strathmore
During the June 19–28, 2013 Alberta floods, the water level in Strathmore rose across the region damaging multiple properties.
The following MyChoice probability scores for Strathmore 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 Strathmore 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 Strathmore
What’s the housing landscape in Strathmore like? You can find the answers from census data. Here’s a dive into some essential housing statistics from the 2021 Census of Population:
Homeownership Rate by Age in Strathmore
Below are the homeownership rates in Strathmore, categorized by different age groups. The highest homeownership rate in the city is among people aged 75+ at 85.7%.
| Age Group | Homeownership Rate |
|---|---|
| 15 to 24 | 20.0% |
| 25 to 39 | 66.5% |
| 40 to 54 | 78.7% |
| 55 to 74 | 83.9% |
| 75 and over | 85.7% |
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:
This is by no means an exclusive list of risks typically excluded from a home insurance policy in Strathmore. 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 Strathmore?
There are many risks to your Strathmore 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 Strathmore to make the right decisions.
You technically don’t need home insurance in Strathmore, 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 Strathmore
If you’re trying to save money on home insurance coverage in Strathmore, go to our main province page to view the list of recommendations.