Home Insurance in Spruce Grove

The best home insurance in Spruce Grove

For Alberta home insurance you can rely on, BrokerLink Spruce Grove is here. We are honoured to serve the Spruce Grove community, and we don’t take this responsibility lightly. Whether you enlist the help of an insurance advisor to review your coverage before it renews, for advice on how to save money on home insurance, or to learn more about the various property insurance solutions, like renters insurance, vacation property & cottage insurance, condo insurance, etc., you can count on us. We can even provide insight into what home insurance covers. Since coverage is ultimately what you pay for when you purchase house insurance, understanding the coverage included in your policy is important. Below is a brief outline of what three common types of home insurance cover:

Dwelling coverage

As a homeowner, there is nothing worse than the thought of something damaging your home. Although dwelling coverage can’t prevent damage from occurring in the first place, it can protect you from the financial ramifications of such damage. Dwelling coverage can reimburse policyholders for the cost of repairing or rebuilding your home if it is managed by an insured peril, like fire or lightning. Dwelling coverage typically applies to your home, as well as connected structures, like attached garages. Keep in mind that dwelling coverage may not cover detached structures without adding those on and does not cover the land your home sits on. The perils that dwelling coverage may cover include:

• Fire
• Lightning
• Smoke
• Theft
• Wind
• Car / aircraft impact
• Explosion
• Falling objects

Content(s) coverage

Contents coverage also protects your home from physical damage, but this time, the focus is on the belongings inside of your home. Rather than compensating you in the event that your walls or windows were damaged, contents coverage can lead to compensation if you need to replace or repair damaged or lost items in your home, like sporting equipment, clothing, furniture, or electronics. To be covered by the contents insurance section of your home insurance plan, the damage or loss must have occurred due to an insured peril, which are typically similar to the perils covered by dwelling insurance. When selecting contents coverage for home insurance, make sure to pay close attention to the coverage limit. The limit you select should be enough to reasonably cover the value of the items in your home. If you have lots of high-value items, you may want to consider high-value home insurance. Alternatively, if you have a couple of items that are worth more, such as jewellery or electronics, it can be a good idea to add these items on as floaters or riders, to further ensure they have the proper coverage.

Liability coverage

Lastly, liability coverage protects Spruce Grove policyholders from the cost of a lawsuit, should a claim be brought against them. Specifically, liability insurance covers third party claims. This means that if a guest or visitor to your home was injured on your property or their personal property was damaged, they could sue you. As the homeowner, you could be held liable, but at least with home insurance, your insurer might cover the cost of the lawsuit, along with any associated medical or repair fees.

Other coverages that can be added to Spruce Grove home insurance policies

Home insurance isn’t all dwelling, contents, and liability coverage. There are several additional coverages that can be added to Spruce Grove home insurance policies, including but not limited to:

• Business coverage: Business coverage might be necessary if you operate a business out of your home, especially if clients visit your home on a regular basis. Without a commercial coverage add-on, or an independent commercial insurance policy, you could be on the hook for the cost of damages to your home that relate to your business operations.
• Sewer backup coverage: Sewer backup insurance provides Spruce Grove homeowners with peace of mind. With this type of coverage, homeowners will have financial protection in the event that wastewater backs up, comes out of their sinks or drains, and damages their homes.
• Overland water coverage: Water damage can wreak havoc on any home. But with overland water coverage, at least your insurance company would step in and help cover the cost of the necessary repairs in the event of a flood. Specifically, overland water insurance covers flooding to your home that is caused by a nearby lake/river, overflow, heavy rain, or rapid snow melt.

What variables affect home insurance costs in Spruce Grove?

There are many variables that can affect how much a customer pays for home insurance in Spruce Grove. The following is a list of some of the most important factors impacting house insurance rates in Alberta:

• Replacement cost of your property: An insurance company will estimate the replacement cost of your property, which will play a major role in your premium. To estimate your replacement cost, they will assess the value of your home, as well as the contents inside of it.
• Your address: The location of your home will also come into play as some neighbourhoods are seen as more desirable than others.
• How close your house is to a fire hydrant or fire station: Homes located near water sources, like fire stations or fire hydrants, may benefit from lower rates.
• The age and condition of your home’s roof: Roofs are one of the most expensive home repairs. Therefore, an insurance company will assess the age and condition of the roof on your home. Homes with roofs that are 20 years old or younger might have lower rates. Advise your insurance company when you do any renovations as this can make your rates cheaper due to the lower risk of having to make a claim.
• The age, condition, and type of heating system used in your home: The age and condition of your home’s heating system, along with the type of system used in your home, can all impact your premiums. Certain types are considered safer than others, like gas or electric furnaces compared to oil tanks.
• The age, condition, and type of the electrical system in your home: Factors about your home’s electrical system can influence how likely it is to need repairs. For instance, whether your home has breakers or fuses, and whether it has knob and tube wiring or a more modern type, can all impact your Spruce Grove property insurance premium.
• The age, condition, and type of the plumbing system in your home: An insurance company will consider your home’s plumbing system to determine your premium. For instance, if it’s older or if it contains lead or galvanized pipes that are more susceptible to cracks and leaks, you could pay more for insurance.
• Home security system: Home security systems are not mandatory, but choosing to install one in your Spruce Grove home could save you money on property insurance.
• The presence of detached structures on the property: If your home has a number of additional detached structures like a shed, swimming pool, detached garage, or gazebo, your premium may be higher to account for the extra coverage that is needed.

Save money on Spruce Grove property insurance today

As a homeowner, you already have a lot of expenses. The last thing you need is to be forced into buying a home insurance policy that costs an arm and a leg. BrokerLink understands this struggle, which is why we are on a mission to make property insurance more accessible and affordable than ever before. We love to put our insurance expertise to good use and help our customers save money on coverage. Get in touch with BrokerLink, insurance brokers to discuss how you can reduce your home insurance premium today, or keep reading for a few broker-approved tips:

• Is your Spruce Grove home insurance policy up for renewal? Rather than letting it renew automatically, have an insurance broker review your policy and give you advice on ways that you can update it to save money. You might be surprised to learn how small tweaks to your deductibles or coverage limits can lower your premiums.
• Home security is top of mind for many Spruce Grove homeowners. Installing a monitored alarm system in your home can help keep your home safe while also saving you money on property insurance. Advise your broker once it is installed so they can have a security system discount applied to your policy.
• Buy multiple insurance policies in one go and save big. For instance, did you know that bundling home and auto policies could make you eligible for a 15% or 20% discount on each insurance plan?
• Ask a broker about the potential cost savings that may come with raising the deductible on your Spruce Grove house insurance policy.
• Avoid falling into the trap of having to pay hidden transaction fees on monthly insurance payments and select a yearly payment plan instead.
• Do some research into which property-specific details impact house insurance rates, such as the presence of swimming pools or detached structures, the proximity of the home to fire stations or fire hydrants, the age and condition of your home’s roof, plumbing, electrical, and heating systems, and more.
• Consider equipping your Spruce Grove home with a sewer backup prevention device, which can detect sewer backups before they happen, reducing the odds of extensive water damage.
• Contact an insurance broker to find out more about other property insurance discounts that may be available to you. For example, some insurance companies offer home insurance discounts to non-smokers or policyholders who previously attended certain post-secondary institutions or worked with specific employers or volunteer organizations.

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We’re in your community

BrokerLink doesn’t just serve our Alberta customers, we are part of the Spruce Grove community. We treat our customers like family and will always take the time to discuss your insurance needs. A customer-driven approach is what we specialize in. If you’re looking for a local insurance brokerage that puts the needs of Spruce Grove residents first, look no further than BrokerLink.

Contact us

At Spruce Grove BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible.

You can reach us by phone, email, or in person at any one of our locations throughout Alberta. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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House insurance FAQs for Spruce Grove

If you have any questions, contact one of our local branches.