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New to Alberta

Moving anywhere can be a challenge, especially to a new country like Canada, and a beautiful province like Alberta, and its capital city Edmonton. In the thrill and fears, there’s still paperwork. The first paperwork you should be looking at is insurance whether you own a house, condo, or are a tenant – you’ve brought all your belongings this far, the first thing to do is ensure they’re protected.

When you’re searching for independent brokers in Edmonton who will take the time to understand you, your family, or your business’s specific insurance concerns, turn to Drayden Insurance. We take pride in representing the majority of leading Canadian and International insurance providers, and treating our customers honestly and fairly.

Home, Condo and Tenant insurance is designed to reimburse you for your financial loss arising from perils such as fire, vandalism, and water damage; against lawsuits arising from your personal actions or ownership of your property. Banks and mortgage companies will require you purchase Home or Condo insurance before .approving your mortgage.

If you are renting, then tenant’s insurance offers two kinds of coverages: liability and contents. Liability coverage will protect you from your personal actions where you are held responsible for damage to the building or injury to others who live or visit your rented premises. Contents coverage reimburses you for loss or damage to your personal belongings arising from insured perils including fire, smoke, and theft.

In both home and condo, as well as tenant insurance, make sure you understand what type of insurance you are buying, who or what is covered, exclusions, policy limitations, how much coverage is provided, and how to report a loss or claim.

In Alberta, when moving from another region for the best rates on your home insurance, a letter of experience from your prior home insurer is recommended. This allows you to take advantage of claims-free discounts available through most insurers, and there are no out-of-country restrictions so overseas letters of experience are treated and recognized the same as Canadian letters, as long as they meet these guidelines:

  • be on the company letterhead;
  • be typed in English;
  • be signed by an authorized representative of the company
  • Provide policy number and length of term insured with the company.

There are a wide variety of factors insurance companies consider when deciding how much to charge you for your home, condo, or tenant insurance including:

  • where you live;
  • primary use of your home or rental unit;
  • type of heating source, electrical distribution, pipes, and age of roof;
  • proximity to fire hydrant and fire station
  • cost to rebuild your home or replace your contents
  • your personal claims history.

At Drayden Insurance, we hope your move to Edmonton is problem-free. To keep your life here worry free, invite you to contact Drayden Insurance at 780-482-6300 today for the perfect insurance coverage to fit your needs – wherever you live.

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