"Creative Insurance Group Ltd. is an Alberta based insurance broker specializing in DUI / impaired driving insurance, high risk house insurance / hard to place house insurance. Visit http://www.creativeinsurance.ca/ for a quote. They are located at 4365 99 Street Northwest Edmonton, AB T6E 5E4‎ (780) 988-1111. "

1. Factors that Affect Home
Insurance Rates

2. Introduction
With so much information available about ‘all things car
insurance’ it’s easy for your home insurance to take a back
seat. In reality, your home is worth much more than your
car, and just because you don’t drive it around on the
streets everyday doesn’t mean your home insurance isn’t
important.
Keep reading to learn the basics of home insurance, and
the factors that typically affect how much you pay. Once
you know the factors, you’ll also know ways you can pay
less.

3. Basic Home Insurance
Information
According to the Financial Consumer Agency of Canada,
you should have enough home insurance to cover the
expense of replacing every possession you own if it were
destroyed or stolen. You should also have enough
insurance to cover any potential liability to others.
The amount you receive when you make a claim depends
on whether you have an actual cash value policy or
replacement value policy. One will replace the item you
lost, one will give you the cash value of what it was worth
when you lost it. An actual cash value policy might cost
less, but you’ll generally receive less back.

4. Basic Home Insurance
Information
Generally speaking, home insurance covers:
• Damage, theft or loss to personal possessions.
• Personal property that is stolen directly from your vehicle.
• Accidental damage you might cause to someone else’s property. This
includes fire damage to neighboring homes if your house catches on fire.
• Injuries to people while they’re on your property, such as slip and fall
accidents.
The Financial Consumer Agency of Canada states that
most financial institutions won’t grant you a mortgage if you
don’t show proof of home insurance.

5. Factors Affecting Home
Insurance
The Insurance Bureau of Canada lists the following factors
as being the primary ones affecting the price you pay for
home insurance.
• Home Location – Insurance providers keep statistics on things like
number of claims filed by neighborhood, so where you live makes a
difference.
• Replacement Cost – Naturally, the size of your home and volume of
contents are the biggest factor as far as home insurance rates are
concerned. Basically, the more it will cost to replace, the more you
will pay.

6. Factors Affecting Home
Insurance
• Water Sources – Since living closer to hydrants increases the
chances of saving your home in a fire, the farther away from a viable
water source you are, the more you’ll pay.
• Heat & Electricity – Fewer and fewer homes are being heated by oil,
but if yours is one of them you can expect to pay more for home
insurance. Whether you have breakers or fuses will also play a role
in what you pay. Expect to answer many questions about heating
and electricity.
• Plumbing – The older the pipes, the more likely they are to crack
and leak and the more you’ll pay to insure the home.

7. Factors Affecting Home
Insurance
• The Roof – According to the Insurance Bureau of Canada, if your
roof has been updated within the past 20 years, it shouldn’t affect
your rates.
• Security – Alarms, dogs or other methods of home protection are
looked upon favorably by your insurance company.
• Type of Coverage – The type of coverage you ultimately choose will
determine the type of coverage you have and the amount you have
to pay. Unlike car insurance, there are no laws dictating how much
you must have, so it’s up to the homeowner whether they want more
basic or comprehensive coverage.

8. Finding a Provider
As with car insurance, it usually pays to shop around a bit
when selecting home insurance. You’ll want a company
that has experience and a good reputation in the
community, and depending on your circumstance you may
also need one that can think outside the box.

9. Finding a Provider
Creative Insurance Group, which provides home insurance
in Edmonton, states that not all insurance companies will
accept you as a client. Sometimes, if you don’t fit a certain
mold, you might be refused and have to look for a provider
that offers non-standard or high risk home insurance. If
you find yourself in that position, keep looking and you’ll
find a provider that will give you everything you need.

10. Advice
Creative Insurance Group Ltd. is an Alberta based
insurance broker specializing in DUI / impaired driving
insurance, high risk house insurance / hard to place house
insurance.
Visit http://www.creativeinsurance.ca/ for a quote. They are
located at 4365 99 Street Northwest Edmonton, AB T6E
5E4 (780) 988-1111