The housing market in the city has seen condo sales rising lately. The next step for these new condo homeowners is to find insurance companies in Calgary to secure their homes from potential losses or damages. 

However, condo insurance is vastly different from a house’s insurance coverage and its price. If you’re a recent condo homeowner, read on to find out what you can expect to pay for condo insurance and what its coverage entails. 

Finding Condo Coverage from Insurance Companies in Calgary 

Why Have Condo Insurance?

You might be asking yourself: “Why do I need coverage when I pay condo fees? Doesn’t condo fees act as a form of insurance coverage?” The short answer to that question is yes and no. 

Your condo fees provide some insurance coverage, but it’s technically meant to help cover any losses, damages, or liability claims to public spaces in the condo building. For example, the condo’s insurance would cover any instances that occur within common areas like the elevator or on-site gym. In essence, their coverage is mainly focused on the collective – where it goes toward the building as a whole. 

Depending on the condo, they can cover certain parts of your unit that are core to the building (e.g. windows & light fixtures). However, they don’t cover liability cases, damages, or losses within your condo unit. For instance, if someone broke into your unit and stole any valuables from you. According to how a condo works, that’s considered your responsibility to handle. 

In these scenarios, finding the right insurance companies in Calgary for personal condo insurance comes in handy. 

What Types of Condo Insurance Exist?

Like any insurance, not all coverage is the same. Depending on your preferences for coverage, you want to see what insurance brokers in Calgary offer for insurance policies. 

For the most part, you can expect personal condo insurance to commonly cover the following:

  • Personal liability
  • Personal property
  • Unit improvements
  • Additional protection for contingency scenarios 
  • Loss assessment
  • Loss of unit
  • Other living expenses

If you’re looking for more from your condo insurance policy, there are other options available such as: 

  • Directors & officers’ liability
  • Overland water
  • Sewer backup
  • Identity theft

What’s the Cost of Condo Insurance?

As you recall, insurance plans all have varying degrees of coverage. In turn, it can affect how much you need to pay for your condo insurance. Naturally, the more coverage you want, the more it will cost you. Meanwhile, the less coverage, the less you will have to pay each month. 

Plus, that’s not accounting for other factors such as: 

  • Property type
  • Credit score
  • Replacement cost
  • Location
  • Internal construction
  • Renovations 
  • Claims history
  • Pets
  • Special use

However, if you need substantial numbers, the average cost of condo insurance in Calgary is between $30 to $50 per month (around $400 to $600 per year). These monthly payments aren’t too bad – and there are ways you can further lower your condo insurance. Either way, it’s a reasonable price for personal peace of mind as a condo unit owner. 

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

The rising insurance rates are a financial concern for many with home insurance in Calgary. Inflation has been felt across the country, with rates for home insurance in Canada has risen by 4.9%. Yet, other factors are at play that affect home insurance rates. If you’re a new or potential homeowner, learning what influences home insurance rates can help you financially for home ownership in the long run. See how here. 

Factors Influencing Rates for Home Insurance in Calgary

As mentioned before, inflation has certainly affected the rates for home insurance in Calgary and across Canada. However, good insurance companies in Calgary can tell you there is more to consider that you can have some control over. Take the following factors into account to help avoid raising your home insurance rate further.

Your Home Address

The location of your home is a big factor in how high your home insurance rate will be. Some neighbourhoods in the city will have higher rates due to the risks of flooding or hailstorms, resulting in needing to file more claims because of damages. Beyond that, you need to consider your neighbourhood’s crime rate as well. There is a risk of higher theft, resulting in needing compensation for the losses from insurance companies in Calgary. 

Your Home’s Makeup

Another factor that influences the rates of home insurance in Calgary is the build of your house. Is it old? If so, insurance companies in Calgary consider older homes to have more issues because they can be easier to damage. In this case, you need to repair and find better materials for your home that are more durable. Furthermore, you want to ensure your home systems (e.g. plumbing, electrical, heating, etc.) are in working order – lest they lead to home damage. Keeping these in mind, you can avoid potential damages if they occur. 

Your Credit Score

Credit scores are important to keep in check – especially for home insurance in Calgary. You want to ensure you’re paying your monthly home insurance payments consistently. If you don’t, insurance companies in Calgary can tell you that it negatively affects your credit and insurance rate. So, do your best to avoid missing payments or if you do, reach out to your insurer to devise a negotiable option.

Your Claim History

All insurance companies in Calgary can attest that too many claims contribute to a higher rate. You want to keep claims low and have an inexpensive rate by only filing when necessary (e.g. severe damage or loss). Plus, you can find some home insurance in Calgary that can offer discounts for not filing claims in a long time. 

Your Loyalty as a Client 

Sometimes it pays to be a good client. When you have had home insurance in Calgary for a long time, insurers consider it a good sign. As a result, you can expect a lower rate. However, if insurance companies in Calgary see you’re switching insurers constantly as a red flag. It raises suspicion that you’re not trustworthy with payments or have stirred up issues previously, which results in a higher rate. 

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

Inflation currently defines our economic climate in Alberta. Prices aren’t what they once were years ago. Consequently, you can expect car insurance in Calgary has changed since then. With this guide, you can help navigate car insurance in 2022 Alberta. See how here.

How Car Insurance Works in Alberta 

Car insurance in Alberta is divided between basic and additional coverage. Basic coverage is mandatory by law and entails accident benefits and third-party liability. An established maximum amount makes this basic coverage affordable and accessible. Meanwhile, additional insurance coverage is more for collision cases and is not required by law. 

It allows you to find personalized car insurance in Calgary for policies with more options for protection. However, not all insurance companies in Calgary have the same coverage and rates. But, it’s worth noting that the Automobile Insurance Rate Board (AIRB) regulates automobile insurance rates in Alberta. So, you can expect to find the car insurance that suits your needs and finances since prices vary. 

What Affects Car Insurance in Calgary 

As you might know, your driving history impacts how much you would have to pay for the premium on your car insurance. These can include: 

  • Collisions
  • Frequent claims of serious injuries
  • Fraudulent claims
  • Distracted or impaired driving
  • Theft

These are just a few examples. However, you need to factor in where you live, which affects your premium rate. For instance, the premium rates for car insurance in Calgary will be higher than in rural places. The reason is that a bigger city has a bigger risk of theft, accidents, and even weather-related events. In turn, rates would be higher. Even if that’s the case, it doesn’t mean you can’t find insurance companies in Calgary that offer affordable rates. 

How to Save on Car Insurance in Calgary

It’s not impossible to try and save on car insurance in Calgary during this time. Here are a few things you should consider to help you save!

Follow the Road Rules

This suggestion is an obvious one – but it’s worth the reminder. The safer you are on the road, lessens the chances of car accidents. It’s worth being a defensive driver for your and others’ safety while also helping to lower your insurance. 

Be Cautious of Claims

You can’t help if you need to file a claim. That’s part of the process of insurance coverage. However, be cautious of filing too many claims. Doing so increases your insurance. So, only submit a claim if the damage is severe enough.

No Missing Payments

You don’t want to miss car insurance payments for your best interest. When you do, you will have to pay more to make up for it. If you can’t avoid a missed payment, then contact your insurer ASAP to help negotiate options on what to do. 

Raise Deductible

Paying might initially seem counterintuitive to saving money on car insurance. However, raising your deductible helps to lower your rates. In turn, it will help save you money in the long term. 

Proactive on Protection

Avoid having to go through insurance by finding ways to protect your vehicle. In Calgary, winter is notorious for collisions. So, ensure you’re equipped with the right tires. Also, regarding theft, consider installing security devices for your car. 

Combine Insurances

You can find insurance companies in Calgary that can bundle your car and home insurance. In this way, you’re saving on costs through dual coverages. It’s a win-win scenario! 


Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

There are various forms of insurance that you can get. When it comes to your home, you can easily find insurance brokers in Calgary that can provide home insurance. However, did you know that you can also get condo insurance?

If you’re a condo owner, it might be in your best interest to consider looking into condo insurance and see if the cost of coverage is worth your dime! 

Encapsulating the Cost of Condo Insurance in Calgary

What is Condo Insurance?

So what exactly is condo insurance? And what does it cover? Condo insurance is mainly regulated to coverage in your unit. These include the possessions in your unit, storage locker, and any possible personal liability claims in case someone is injured at your place.

Here is additional coverage that condo insurance provides in the case of any loss or damage to the following:

  • Personal belongings
  • The inside of your condo unit
  • Possible theft
  • Unit renovations from you or previous owners
  • Common spaces (i.e. hallways & elevators) resulting from an accident within your unit
  • Additional living expenses 
Worried Woman Holding Bucket While Water Droplets Leak From Ceiling in Living Room.

Why Get Condo Insurance?

Many might wonder why condo insurance is even necessary. After all, the whole point of you owning a unit is that the condo fees can handle what needs to be covered. However, a condo corporation’s building insurance policy can vary in what is covered for the building and individual unit owners. 

When it comes to a condo corporation, they ensure the building’s insurance coverage through the condo fees that you pay monthly. Yet, the thing about condo fees is that it’s regulated to only the building – not your unit. The condo fees you pay go towards the building’s upkeep through snow removal, utilities, lawn care, parking garages, and repairs to the building’s common spaces.

In essence, a condo building’s insurance policy doesn’t fully cover damages and losses for individual unit owners, but more so for communal coverage that extends to the building’s common areas. But with condo insurance, you can rest assured that if anything were to occur in your unit, it would be covered. You won’t risk assuming your building’s insurance will cover anything and be surprised by unexpected expenses. 

That’s why it’s important to review a condo building’s insurance policy when comparing condo insurance coverage and whether you’re considering moving into a condo.  

What’s the Cost of Condo Insurance?

Currently, in Calgary, condo corporations have higher insurance policy rates, resulting in increased condo fees for unit owners. As a result, condo insurance rates have been steadily climbing since 2021. The reason is from recently damaging hailstorms. The June 2020 hailstorm in Calgary saw a whopping $1.2B in insurance claims. 

Despite the increase in condo fees, condo insurance has remained relatively steady in rates. In Calgary, you can expect the average cost of condo insurance to be between $30-$50 per month or $400 to $600 annually. The prices will vary depending on the location, building age, and risks. Compared to home insurance in Calgary, paying for condo insurance is more affordable. 

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

Insurance brokers in Calgary can offer a variety of insurance depending on your specific needs for coverage. When it comes to saving money on insurance, there will be different methods on how to save depending on what type of insurance you have adopted. 

Check out how you can save money on most standard insurances!

Combining Insurances

Paying for two different types of insurance can get costly. If both insurances are a necessity, then combining them can be proven to be cost-effective. One popular combination insurance companies offer is paying your home and car insurance together under them exclusively. Not only do you receive a discount for doing so, which saves you money and can cut some costs on your premiums as well. In essence, you’re getting more bang for your buck by taking advantage of these types of bundled insurance plans.

Reducing Coverage

Sometimes a little goes a long way. It makes sense that folks would want maximum coverage in case the worst occurs and their bases are all covered. However, there is such a thing as going overboard when it comes to insurance coverage. You might be spending unnecessary money on coverage that you might not even use at all. Best to review the details of your insurance coverage and discern what policies to keep or eliminate. In this way, you can not only have insurance that best reflects your needs and save money as well.

Higher Deductibles

Paying out of pocket may seem unappealing when dealing with a claim. But when you increase your deductibles, your future self will be thanking you in the long run for doing so. How does considering a higher deductible save you money when you’re paying more? Let us explain. Higher deductibles can be incredibly beneficial in the case of a major loss and can lower your premiums. Lower premiums are certainly worthwhile for those with travel insurance that plan to be abroad for months. It helps bring extra ease to finances for a traveler.

Pay Premiums Annually

Many are used to paying most bills monthly. With insurance, you can pay monthly as well, but it might not be the best method to pay for coverage. Monthly payment lapses with your insurance might have you spending more than necessary. By paying your premiums annually, you only need to worry about paying one big sum once a year. This route has proven to be the best in cost saving as some insurance companies can offer you discounts for choosing to pay annually instead of monthly. If you can swing paying a large amount, then this would be highly lucrative for you to consider in the long term. 

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

Finding mold in your home is never a good sign. Mold found in a home can not only pose a serious risk to individuals, but it can inflict damage to a home. 

Home insurance is meant to protect a home by covering damages – yet many don’t know if mold damages can be covered.

See how mold affects home insurance coverage below!

Mold’s Debatable Coverage

Mold is a form of damage. However, there is a reason why it’s a contested damage claim – the basis comes from how mold occurs. A house environment that is damp, moist, with organic material is a surefire recipe for mold to easily spread. 

There are multiple ways mold can thrive in the home, such as:

  • Roof leaks
  • High interior humidity
  • Overflowing washing machines
  • Flooding 
  • Poor ventilation 
  • Leaky pipes

Home insurance companies might not cover mold as damage based on the rationale that it’s a byproduct of the homeowner’s potential negligence. From a home insurance company’s perspective, a failure to act on home repairs or upkeep can be seen as grounds for your damage claim to be considered moot. As a result, many home insurance companies typically don’t cover mold damage claims.

Home Insurance Policies 

Every homeowner has unique needs and expectations – which is why there are various home insurance companies in Calgary. Not every home insurance company will have the same type of policy for coverage. The range of coverage can be either minimal or a lot, depending on where you get home insurance from. 

Some home insurance has unique policies that can even cover niche damages. In which case, there is a possibility of finding home insurance that can cover mold damages to a certain degree by having a cap amount. It’s more of finding the right home insurance company that would consider mold as a legitimate damage claim.

Coverage For Mold

There are ways to go about getting coverage for mold damages. It comes from knowing how to prove to home insurance companies that can be linked to a form of loss.

Mold damage can be considered if the homeowner can prove they have been actively preventing mold. A home inspection reporting the general condition of a house can be potentially beneficial in supporting your claim. If you know you maintain good upkeep in your home, it can prove to insurers in writing from a third party that your claim is valid. 

A paper trail of receipts from home repair companies that failed to repair damages correctly could support your claim – like a leaky roof. It shows insurers you put the effort towards preventing mold and unfortunately paid the price from a poorly done repair.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

A common sight living in a metropolis like Calgary are busy cars, going here and there to connect to communities across the city. With that being said, more cars ultimately mean a higher demand for car insurance. In which case, it’s imperative to seek out affordable car insurance rates that can provide you with the best coverage. 

However, some factors can affect your car’s insurance rate. By keeping in mind what can affect your car’s insurance rate, you can effectively strategize ways to lower your rates and avoid unnecessary issues down the line. 

Type of Vehicle

Did you know the type of vehicle you choose can dictate car insurance rates? The reason is to determine what vehicles are susceptible to more claims and their cost. The Canadian Loss Experience Automobile Rating (CLEAR) is a system that insurers use to help determine rates by factoring in claims data, your car’s model, and its year. 

This system can see the likelihood that your car is a target for theft based on where you live. As a result, the cost of repairs will be higher after it’s been in a collision. 

In addition, any cars with higher quality safety equipment can contribute positively to lowering your car insurance rates. By opting for a safer car, you’re not only helping yourself but your wallet as well. 

In which case, it’s wise to think twice about what car you might want to purchase in the future. 

Driving History

The literal driving force behind what can affect your car insurance rate is your driving history. The more issues found within your driving history, the more you will likely have to pay for car insurance. 

Beyond collisions and claims, other factors can impede your car insurance rate in drastic ways.

Here are just a few of what can impact your rate:

  • High speeding ticket
  • Careless driving 
  • Distracted driving from either texting or talking on the phone.
  • Not following traffic laws such as: stopping during a red light, not obeying school crosswalks and stop signs, as well as not wearing a seatbelt. 
  • Not remaining on the scene of a traffic collision.

Driving Experience 

One key factor insurers look out for is how long a driver has been on the road. If you’re a new driver, there is a high likelihood that your insurance rate will be higher.

Why is that?

An inexperienced driver can easily get into accidents from an insurer’s standpoint. Therefore, heightening the possibility to file for claims. If you’re a new driver, the best you can do is to avoid all accidents and claims for a couple of years, and then you will be in the clear for less expensive insurance rates. 

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].


While car insurance in Calgary may be a necessity, it doesn’t mean you should be breaking the bank every month in an effort to keep your vehicle street-legal. 


Fortunately, there are several ways to save money on your car insurance, allowing you to put your savings into more exciting expenditures. Let’s explore some of your money-saving options below!


6 Ways To Save Money on Car Insurance


Shop Around


Surprisingly enough, prices often differ between companies. Therefore, it’s only practical to explore your options and get quotes from a handful of places. 


If you’re not sure of which companies to start with, consider asking your friends and family for recommendations. While quotes are based on a range of factors, such as age, driving record, and type of vehicle, those close to you will be able to offer up information on what they pay on car insurance. This allows you to establish a baseline for what you can expect your payments to look like before you even speak with a broker.


As a note, the cheapest option may not necessarily be the best one. Ensure your car insurance in Calgary has adequate coverage, allowing you to feel secure whenever you hit the road.


Bundle Your Insurance


Insurance companies often offer discounts when you choose to purchase two or more types of insurance from them. Therefore, if you already have home insurance, consider reaching out to your insurance company to explore car insurance savings.


Take A Driving Course


Some insurance companies offer discounts on car insurance if you have taken a driver’s education or defensive driving course. This is because you have taken steps to prove that you have added competency behind the wheel, thus decreasing any likelihood of risk. 


Have A Clean Record


The cost of your car insurance in Calgary often correlates with your driving record. More accidents and violations? Expect your insurance to go up. But if you steer clear of any trouble, your car insurance company will often reward your spotless record by decreasing your car insurance after a few years.


Bundle Vehicles


If you have several drivers and several vehicles in your household, consider insuring them all together. Many insurance companies will offer bulk rates, thus making it more cost-effective to insure three cars together than separately.


Review Your Coverage


Many types of coverage are more important than you may think, so speak to your broker before altering your auto insurance plan. However, older cars may not be worth collision or comprehensive coverage, as the value of the car may not hold up against what you’re actually paying.



Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].

When it comes time to purchase home insurance in Calgary, you may quickly become surprised by how difficult it is to find an accurate estimate. While you may be looking for a set number or general idea of how much you can anticipate paying, it’s often a struggle to find an exact cost.


This is because a number of variables are factored into home insurance, thus impacting how much you will need to pay. No two homes feature the same home insurance policy, so let’s explore some of the factors that influence the monthly payments.


Calculating Home Insurance


The Extent Of Your Coverage


To begin, the amount of coverage you want on your home is a major factor in calculating your home insurance in Calgary. Some homeowners may opt for a more basic policy, while others may include coverage against sewage backups, hail damage, or roof ice damming. 


Additionally, your standard policy may not cover the cost of rebuilding your home in the event of an unexpected accident. Therefore, some homeowners choose to add a guaranteed replacement cost to their provision, which will naturally make the payments go up in price.


The Location


Your location actually plays a large role in calculating your home insurance. Areas with higher crime rates, for example, may experience higher home insurance rates, as insurance companies are anticipating break-ins, vandalism, and theft.


The Distance From A Fire Station Or Hydrant


Fire is a major concern for any homeowner. Fortunately, living close to a fire station or hydrant offers both peace of mind and lower rates. 


This isn’t typically a concern for more urban areas, but those who live in more remote or rural areas may have to contend with higher rates, as fire response tends to be further away.


The Age Of The Home


As with most things in life, the older your home is, the more likely you’re going to experience a few issues. Between leaky pipes and old, faulty wiring, older homes are more likely to require an insurance payout, and therefore, their rates will be higher.


Fortunately, home renovations can work in your favour. By rejuvenating your home, you can actually see your home insurance rates decrease, as you’re actively working to reduce the ageing of your home.


The Heating System


Surprisingly, your heating system can also impact your Calgary home insurance calculations. Oil heating is deemed riskier than a gas furnace or electric heating, as there is the potential for a leaky oil tank. Additionally, a wood-burning stove poses a greater risk for house fires and carbon monoxide poisoning.


Therefore, if you’re hoping to lower your rate, gas or electric is the way to go.


Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected]