Property Insurance Rates in Alberta
Important information for clients
Your family home is one of your most valued assets and we understand the importance of ensuring it is protected.
Factors impacting property insurance in Alberta
In recent years, the Province and people of Alberta have been challenged by record levels of property damage, in large part due to weather-related disasters. This has contributed to a significant rise in claims costs and is a trend that is expected to continue.
As a result, The Co-operators cannot maintain our current rates in this environment and rate increases are needed to ensure we can continue to provide security to our existing Alberta clients.
For more facts about property insurance in Canada, check out the IBC’s 2015 FACTS Book.
Our commitment to clients
As a co-operative, we put people first and The Co-operators, along with our Financial Advisors, are committed to our clients and communities. In challenging times, we are focused on providing solutions that have the flexibility to meet both your needs and your budget. That is why we've introduced Comprehensive Water to Alberta homeowners. This new coverage provides a more complete and flexible solution to protect clients’ homes from various types of water damage including sewer back-up, a build-up of water from extreme rain, or even a flood.
Protecting your home and managing your premiums
We understand that each situation is unique and are committed to working with clients to find the coverage combination that is right for them. In the meantime, here are some tips on helping you manage your premium and keeping your home protected:
- Schedule a Client Review. Your Financial Advisor can work with you to review your coverage and limits. Our reviews will ensure you have the right amount of insurance and are receiving the discounts you may be eligible for.
- Adjust your deductible. Consider increasing your deductible to help reduce your premiums.
- Keep an inventory. In the event of a claim, you may be asked to provide a list of your personal possessions. Keeping a record will ensure you are well prepared and will help with replacement.
- Install security. Installing a monitored burglar or fire alarm will protect your family and also save you up to 10% on your home insurance premium.
- Bundle your coverage. Consider insuring multiple lines of business with The Co-operators, such as home and automobile insurance, to maximize your discounts.
We’re here to help.
We value you as a client and look forward to working with you to manage the impact of these changes. To review options to manage your premium or if you would like more information about Comprehensive Water, contact your Financial Advisor.