home insurance

Your home is likely the most expensive asset you own. Protecting yourself against catastrophic physical and financial losses is the main reason people buy home insurance. This insurance is based on rebuilding your present home, including debris removal. People sometimes confuse assessed or appraised values with insured values. Home insurance does not insure the land, only the structure. A home insurance policy goes beyond insuring the actual structure.

Your contents are included in your home insurance policy and this is done on a replacement cost basis that means there is no depreciation. Often overlooked but very important are the additional expenses a family incurs when they need to find an alternate place to live while their home is being repaired. This type of expense is offered in all homeowner policies and covers you for usual living expenses that not only include a temporary roof over your head but also food and clothing and other incidental expenses that you need to pay.

Take stock of your home with this Home Inventory Sheet

Home Inventory (Download Excel Spreadsheet)

Home Insurance Q&A

Liability Coverage

Liability coverage is included in homeowner policies to protect the homeowner, and household members, from legal action brought about by another party. This protection also extends to legal defense costs and is worldwide in coverage.

Optional Coverages

There are other optional coverages available including earthquake, overland water, scheduled property (often jewellery) and home-based business extensions. Additional seasonal, rented or secondary homes may also be included in the main policy.

Condominium Insurance

Purchasing a Strata unit requires you to have insurance on your contents, the Strata insures the structure but it is your responsibiltiy to get coverage on your contents. We will insure not just your contents and legal liability but also offer you coverage for the condominium deductible assessment, additional living expenses and earthquake coverage.

tenant insurance

Renter’s insurance, tenant insurance, content insurance, all of these mean the same thing: insuring yourself and your contents  from a major financial loss is very important.

The evening news regularly covers stories of apartment fires which force dozens of people into the street with little else but the clothes they‘re wearing. They are often left to rely on community services or the goodwill of others to try to get their lives back together. It is amazing how many people don’t understand the affordability and availability of insurance that would cover most, if not all, of their losses.

The loss of possessions is a major financial setback for most people. Often a person’s posessions are undervalued. Trying to put together a basic wardrobe could cost upwards of a $1,000— and don’t forget furnishings, food, personal items and other incidentals on top of that.

Renters insurance not only includes contents. Additional living expenses that are incurred due to a loss are also included. These expenses are the normal costs of living elsewhere while your residence is being repaired. Additionally, legal liability coverage is included to protect you against any lawsuits brought against you for which you are legally liable. This applies to you on a worldwide basis.

The cost of insurance can be as low as $1 per day and can often be put into effect the same day an application is made. 

earthquake deductible insurance

British Columbia is in an active quake zone that extends from the Phillipines to South America. We can experience 100 quakes per month—mostly small ones that no one really notices. So, who should have earthquake coverage? We suggest that everyone should include it in their policy. Earthquake coverage not only includes the dwelling and contents but also additional living expenses while your house is being re-built, which could be a lengthy time.

Experts in emergency preparedness in BC report that although everyone here knows that we are overdue for a major quake occurrence, we, as residents, are ill-prepared for the inevitable shaker that could change our lives.

Check out the Provice of BC Webpage for more info on how to prepare for an earthquake.

DID YOU KNOW YOU CAN VIRTUALLY ELIMINATE YOUR EARTHQUAKE DEDUCTIBLE?

All insurance companies offer earthquake coverage for homes and businesses. This type of coverage is based on a percentage deductible and not a flat rate as is the case with other insurance policies. Consequently, earthquake deductibles can vary, with amounts reaching $100,000 or more. As a property owner, you are responsible for this deductible for any earthquake related damages.

Good News! We offer a new product that will reduce this financial hardship significantly with an earthquake deductible buy-back policy. For as little as $180 per year, we can offer you $50,000 coverage in earthquake deductible and higher limits are also available. Ask us for more details.

Call our office directly or submit the Quote Request form at the bottom of the page and we will reach out to you.