Understanding the intricacies of home insurance can be a daunting task. That’s where Lakeview Insurance Brokers Ltd. comes in, offering expertise and guidance in navigating the home insurance landscape in Calgary. Here are the top five reasons why partnering with an insurance broker is crucial for your home insurance needs:

1. Expert Knowledge and Tailored Solutions

In the ever-evolving world of insurance, keeping up with the latest policies and coverage options can be overwhelming. Our Lakeview Insurance Brokers Ltd. team possesses the expertise to demystify these complexities. We take the time to understand your needs, ensuring your home insurance policy is tailored to your unique situation. 

This personalized approach means you’re not just getting a one-size-fits-all solution but a policy that provides the exact coverage you need.

2. Access to a Wide Range of Products

One of the significant advantages of working with us is our access to a broad spectrum of insurance products. Unlike being tied to one insurance provider, we can shop around and offer various options. 

This breadth of choice ensures you get the best coverage at the most competitive price. For home insurance in Calgary, we can find a policy that suits your budget and provides the protection you require.

3. Guidance Through the Claims Process

Navigating the claims process can be one of the most challenging aspects of home insurance. Our team is here to guide you through every step, providing support and advice.

We advocate on your behalf, ensuring your claim is processed efficiently and fairly. This guidance can be invaluable, especially in stressful times when you need to focus on your family and home.

4. Ongoing Support and Advice

Your relationship with Lakeview Insurance Brokers Ltd. doesn’t end after purchasing a policy. We’re here for the long haul, offering ongoing support and advice.

As your life changes – whether it’s a move, a renovation, or a new addition to your family – we’re here to help you adjust your home insurance accordingly. This ongoing support ensures that your coverage always matches your current needs.

5. Local Knowledge and Experience

Being based in Calgary, we understand the specific challenges and requirements of the local market. Our knowledge of Calgary’s environment, legislation, and real estate trends means we can provide advice that’s relevant and specific to your locality.

This local expertise is invaluable when choosing home insurance that’s right for you.

Protect Your Home in Calgary

Choosing the right home insurance in Calgary is a critical decision that impacts your financial security and peace of mind. By partnering with Lakeview Insurance Brokers Ltd., you gain access to expert knowledge, a wide range of products, dedicated support through claims, ongoing advice, and local insights. 

Our commitment is to provide you with a home insurance solution that meets your needs, offering security and confidence in your coverage. Contact us today to find out how we can help you navigate your home insurance options and secure the protection your home deserves.

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].

The cost of home insurance in Calgary has recently become a hot topic issue. According to the insurance comparison site RATESDOTCA, their 2021 study illustrated that the average cost of home insurance rose at more than three times the inflation rate over the past decade.

No homeowner with insurance is happy about this development – but there is a way around it. 

Here are a few ways you can save on home insurance, so you don’t need to spend further than you’ve had to pay. 

Combining Your Insurances

If you have automobile insurance, your best bet to save on home insurance is by combining these two insurances under one provider. It’s not an uncommon practice to do so. You would be surprised by how much you can potentially save through either special discounts or being able to reduce your premium. In this way, you’re simultaneously saving money on both home and automobile insurance. It’s a win-win scenario!

Paying a Higher Deductible

Initially, it might not seem ideal to pay more for a deductible. After all, you want to save money, not spend more of it. However, if you decide to pay more towards an insured loss, you can expect to save more on your premium. By paying more than your minimum deductible amount, you can potentially reduce the cost of your home owner’s policy. 

Before paying more in deductibles, do keep in mind if your home insurance has any separate deductible for damage from major disasters. It is an important detail to consider, especially if you live in an area of Calgary that has been prone to flooding. 

Maintain Your Credit Score

Keeping your credit score in good standing is generally ideal. However, it’s particularly important if you’re hoping to save further on your home insurance. With insurers, part of figuring out what your premium amount should be means having access to your credit history. When an insurer notices you have a particularly poor credit score, you can expect an insurer to double the amount for your premium potentially. Ensure your credit score remains in good standing so you don’t pay the consequences through higher home insurance premiums. 

Safeguard Your Home

Home insurance is all about coverage for various forms of loss that can occur to your home. In this case, prevention is key to saving money on your home insurance—for example, combat theft loss by implementing security measures that will deter them. Also, security isn’t the only means of preventing potential losses. Keep up with your home’s maintenance by conducting any necessary repairs. It promotes safety in your home, so the likelihood of a loss occurring will be slimmer, and you won’t need to make any possible insurance claims. 

Paying Annually Instead 

You would be surprised by how much insurance companies will reward you for paying annually instead of monthly. It might not seem great to pay a huge sum upfront, but some insurers will give you potential discounts for making the switch. Plus, you don’t need to worry about it for another year by paying a large amount right off the bat. It saves you money and the stress of meeting monthly home insurance payments. 

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].

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].

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]

The wide variety of insurance types is fantastic. Giving people the opportunity to protect themselves and the things they value is an integral part of the insurance industry. For example, home insurance in Calgary and auto insurance provide coverage for the biggest expenses people typically assume. 

Thankfully, there are also types of insurance for smaller expenses. One of these is tenant insurance or renter’s insurance. Tenant insurance is a form of insurance that people who rent or have alternative living arrangements can purchase to protect their personal property. However, not all tenant insurance is made equal, and knowing the differences can be essential to your choice. 

The Different Types of Tenant Insurance

Typically, the differences between insurance policies boil down to types of coverage. For example, consider your home insurance in Calgary. Every basic package includes the same coverage, but you can optionally pay more for added protection. Examples of additions would consist of fire and flood insurance, theft, accidental damage, and many more. 

Ultimately, the same logic applies to tenant’s insurance. The primary coverage will take care of any issues with your own property at your lodging. This coverage will protect from damage, theft, and loss of property. Additionally, your tenant insurance will cover any damage you cause to other’s property or belongings. Typically, you can label this coverage as “liability” and “contents”. 

Happy family couple renters tenants handshaking realtor landlord at meeting

However, there are also additional benefits that relate to tenant’s insurance. Easily the best example of this is temporary living expenses. This coverage is ideal when there are periods where you cannot reside in your home as they cover the costs for your temporary domicile. Naturally, your policy may have differing options, but typically this will include issues of fumigation, natural damage, fires, and more. 

Another benefit of tenant insurance is the coverage it can provide for your valuables. Although there is a relevant stipulation to make at this point. This stipulation is that you should create an inventory of your valuables. Of course, it follows that the most pertinent information for an insurance claim is what exactly you are claiming. 

Plus, there is no better time to start the list than right now. You will accrue more belongings as time goes on, and adding to the list is much simpler than the initial inventory. As well, if you are keen on ensuring your insurance company stays in the loop, feel free to send them a copy of the list. Then, if there is a claim, you will both be working under the same assumption about the estimated value of your belongings.  

Find Your Tenant Insurance Broker Today

If you are looking for tenant insurance or any other form of insurance, give us a call today. Our professional staff looks forward to getting you the best coverage possible, and we love to share helpful tips and information!

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]