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As you’ve probably heard, in recent months, cannabis has now become legal in Canada and many people are thinking about growing their own. While you might think it’ll save you money in the long run, growing your own cannabis isn’t a decision you should make lightly. It’s important to be aware of the laws you need to abide by and of the impact that growing your own cannabis may have on your homeowner’s insurance.

Growing Cannabis in Homes and Condos

Adults are allowed to grow up to four plants per household as long as the seeds were purchased from a licensed retailer. Since there’s a limit to the quantity you can have on hand, anything exceeding that limit needs to be destroyed. You’re also not allowed to grow plants in any area of a home used for commercial purposes, and the location can’t be visible from a public place. Things get more complicated if you’re renting or living in a condo. In Alberta, you should be aware that rental agreements and condominium bylaws can override federal regulations.

What are the risks of growing pot at home?

An increased risk of house fires is the main safety concern when it comes to growing cannabis at home. This is because some specialized equipment that is commonly used, such as grow lights or grow tents, can put an additional strain on the electrical system or require altering the house’s wiring. In some cases, people may attempt to re-wire their home on their own to cut costs.

Can growing cannabis in your home affect property value?

Due to concerns about humidity damage or lingering odours from grow-ops, some buyers may be wary of purchasing a home that was once used to grow cannabis. Maintaining optimal growth conditions requires high humidity levels, which can cause damage if the house isn’t properly ventilated.

Work With a Broker to Find the Right Home Insurance in Edmonton

Most insurance companies have added wordings to their policies that allow the growing of up to 4 plants for personal use. At this time, there is no extra cost for growing cannabis in your home but you should always check with a licensed insurance broker if you plan on growing cannabis in your home to ensure this has not changed. Call us today to set up an appointment!

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.


1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.


2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.


4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.


6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.


7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.