Calgary · Property Owners & Landlords

Landlord Insurance in Calgary.

Coverage built for Calgary properties, from the risks of the work to the exposures Calgary businesses face.

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Landlord and commercial property insurance protects the buildings you own and the income they produce. That means coverage on the structure and its systems, loss of rental income when a covered loss takes a unit offline, and liability for the people who come and go. Whether you own a single building, a portfolio or a mixed-use block, the right program protects more than the walls. It protects the rent that pays the mortgage and the equity you have built. Velocity arranges coverage for landlords and property owners across Alberta.

Calgary landlords carry catastrophe exposure most Canadian cities do not: the 2013 flood remains one of the country's costliest disasters and hailstorm alley threatens roofs every summer. For a rental portfolio that means overland-water and sewer-backup endorsements, replacement-cost building coverage, and loss of rental income so a flood or hail closure does not stop the rent.

Most property programs are built around commercial property on the building and its systems, with loss of rental income for the months a unit is offline. General liability looks after the people who come and go, and equipment breakdown looks after the mechanical systems.

Risks Calgary properties face.

These exposures come with the work, and in Calgary the local risks sit on top. A generic small-business policy rarely covers all of them.

01

Fire, water, hail, and wildfire damage

A burst pipe in a vacant unit, a fire that starts in a tenant’s kitchen, a hailstorm that shreds a roof. Alberta has seen some of Canada’s costliest insured disasters, from the Fort McMurray wildfire to repeated Calgary hailstorms. Building damage is the most common and the costliest loss when coverage is set up wrong.

02

Loss of rental income

When a covered loss takes a building offline, the tenants stop paying rent but the mortgage, taxes and insurance keep coming. Rental income coverage, often for up to a year, keeps a property solvent through the rebuild.

03

Injuries on your property

Under Alberta’s Occupiers’ Liability Act you owe everyone on your property a duty to keep them reasonably safe, so a slip on an icy walk, a fall in a stairwell or an injury in the parking lot can name you even though you do not run the businesses inside.

04

Vacancy and unoccupied buildings

A vacant unit changes the risk profile of the building. It can limit or cancel your coverage if the policy is not set up for it. Vacancy is a change you are required to tell your insurer about, and many owners learn that only after a claim is denied.

05

Equipment and systems failure

Boilers, HVAC, elevators and electrical panels are expensive to repair, and even more expensive when their failure damages the building or interrupts tenants. Equipment breakdown coverage closes the gap standard property leaves open.

06

Hail, among the costliest in Canada

Calgary lies in Canada’s most active hail zone, known as "hailstorm alley." The August 2024 Calgary hailstorm caused roughly $3.3 billion in insured damage, the costliest hailstorm in Canadian history and the second-costliest natural disaster in the country after the 2016 Fort McMurray wildfire, and the June 2020 storm before it cost about $1.2 billion. Roofs, exteriors, fleet vehicles, and outdoor stock are the exposures, so replacement-cost property and comprehensive auto coverage matter.

07

Overland flood and water damage

The 2013 southern Alberta flood remains one of Canada’s costliest natural disasters, and Calgary’s river valleys keep overland flood and sewer backup on the map. These are typically endorsements, not automatic, so it is worth confirming your building and business-interruption coverage would respond.

The Protection

Coverages we recommend.

01

Commercial Property

The building structure, the building systems and any common-area contents you own. Insure to the required share of full value so a claim is not penalised by co-insurance. Add sewer-backup and overland-water coverage as well, which protect against drain backups and surface flooding and are not automatically included.

02

Rental Income

This replaces the rent you would have collected if a covered loss takes a unit or building offline, sized to match how long it would take to rebuild and re-lease.

03

Commercial General Liability

Injury or property damage to a third party arising from the premises, which is the exposure Alberta’s Occupiers’ Liability Act creates. Slips on ice, falls in stairwells, injuries in the parking lot. No income-producing property should be without it.

04

Equipment Breakdown

The sudden and unexpected failure of building systems, and the resulting damage a standard property policy leaves out.

05

Directors & Officers (for incorporated owners)

For property-holding corporations, partnerships and condo boards, this protects the personal assets of the people making decisions about the building.

Coverages shown are general examples, not a description of any specific policy. Policy coverages widely vary and should be confirmed with your broker.

How Pricing Works

What drives your premium

  • Building age & constructionA newer building with masonry or non-combustible construction usually rates better than an older wood-frame structure, so the age and materials of what you own are a primary driver of price.
  • Occupancy & tenant mixResidential, retail, office and industrial tenants each carry different risk, and a stretch of vacancy raises the exposure further, so who occupies the building shapes the premium.
  • Insured building valueThe cost to rebuild the structure and its systems sets the base of the policy. Alberta property is expected to be insured to a high share of that value, or a co-insurance clause can cut a claim down.
  • Building updatesRecent work on the roof, electrical, plumbing and heating lowers the risk of fire and water loss, and documented updates on an older building can meaningfully lower the price.
  • Rental income insuredThe amount of rent you protect and how long the coverage runs during a rebuild add to the premium, because that income is part of what the policy replaces.
  • Claims history, limits & deductiblesA clean loss record lowers your price while past water, fire or liability claims raise it. The limit you choose pushes the premium up, and the deductible you choose pulls it down while moving claim cost onto you.
  • Your Calgary locationYour neighbourhood, the building you occupy, and the local exposures Calgary sees factor into the property side of your premium.

Common Questions

Questions ownersreally ask.

Does my building need insurance if it’s between tenants or vacant?

Yes, and it needs to be set up for vacancy. When a building sits empty beyond the period your policy allows, coverage can be limited or a claim denied unless the policy has been arranged for it. Vacancy is a change you are required to disclose, so tell your broker before the unit empties, not after a loss.

Is sewer backup or overland flood included, or do I add them?

They are usually separate add-ons, and they cover different things. Sewer backup responds to water coming up through drains and sewers, while overland water responds to surface water flowing into the building. In Alberta both are worth adding, and neither should be assumed to be included in the base policy.

Am I covered if a visitor slips and falls on my property?

Commercial general liability exists for exactly this. Under Alberta’s Occupiers’ Liability Act, as the owner you owe visitors a duty to keep the premises reasonably safe, and your liability coverage responds to claims when someone is hurt on a walkway, in a stairwell or in the parking lot.

Can I require my tenants to carry their own insurance?

Yes. A landlord can make tenant insurance a condition of the lease, and it is good practice. Keep in mind that a tenant’s policy covers their own contents and liability, not your building, so it works alongside your property coverage rather than replacing it.

Why could underinsuring my building cut my payout?

Most commercial property policies carry a co-insurance clause that expects you to insure the building to a set share of its full value, often around 80 to 90 percent. If you insure for less, the insurer can reduce the payout on even a small claim by the same proportion. Keeping your insured value current is how you avoid that surprise.

Does my policy cover hail damage to the roof?

Hail is a covered event under most commercial property policies, and it is a major Alberta exposure. The Calgary hailstorms of 2020 and 2024 were among the costliest insured events in Canadian history. What matters is the deductible and any terms specific to the roof, so review those before storm season rather than after.

How much does landlord insurance cost in Calgary?

There is no flat rate. Your premium depends on the work you do, your revenue, your Calgary location, and your claims history, and higher-risk work costs more to insure. We price it around how you operate rather than a one-size quote, and most properties go from first conversation to bound coverage within a few business days.

Is hail damage covered by commercial insurance in Calgary?

Hail damage to your building, signage, and outdoor property is typically covered under a commercial property policy, and hail damage to vehicles under comprehensive auto coverage. Because Calgary is one of Canada’s highest-hail cities, insurers pay close attention to roof age and construction, and replacement-cost coverage is worth confirming.

Do I need flood coverage for my Calgary business?

Overland flood and sewer backup are usually endorsements added to a commercial property policy rather than automatic inclusions. Given Calgary’s flood history, especially near the rivers, it is worth reviewing whether your location warrants them and whether your business-interruption coverage would respond to a flood closure.

What coverage do most Calgary businesses carry?

Most start with replacement-cost commercial property and commercial general liability, then add comprehensive auto for hail, water endorsements where the location calls for it, and business interruption. The rest depends on the trade: tools and equipment for contractors, crime and cyber for retailers and offices, loss of rental income for landlords.

Protect your Calgary property.

Tell us how your property operates and we'll build coverage around the work you do and the risks Calgary sees. Most properties are bound within a few business days.

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