The brokers at Harbord Insurance are experts to Home Insurance in BC. We might be biased, but we think BC is the most beautiful place on earth. From the ocean views on Vancouver Island to the terrain of the Rocky Mountains – we live in the best province. However, all of that beauty does come with some specific concerns when it comes to Home Insurance.
Here are three things you should remember when buying Home Insurance in BC…
If you live in BC, you’re probably more than aware of the risk of ‘The Big One’ hitting certain parts of our province. You may have grown up with Earthquake drills as part of your yearly school routine. If you’re living in one of those high-risk Earthquake zones, it’s essential to ensure that your policy has enough Earthquake insurance to ensure you are protected if (or when) it happens.
Earthquake Insurance can be so confusing, with many different options for what is covered, how much is covered, and how much you would need to pay (the deductible) if you had to make a claim. It can also double the cost of your insurance if your home is located in those high-risk zones. If you have added or are thinking about adding Earthquake Insurance to your policy, make sure that your broker can explain the coverage you’re paying for and the options available to you. Want to know more about preparing for an earthquake? Click here.
In the last few years, the insurance industry has made some drastic changes regarding covering floods in homes. It used to be that there was zero coverage for an actual flood. If water rising from a freshwater source came into your home, you would be on your own to repair the damage. Recently more and more insurers are adding their versions of flood coverage to policies. If you are in an area prone to floods or live near a freshwater source, you should have this coverage on your policy. If your current insurer doesn’t offer this coverage, try getting comparison quotes from other companies that do offer that coverage.
Keep in mind that the insurance companies continue to exclude saltwater flooding. Unfortunately, Home Insurance in BC still won’t cover tsunami damage.
If you’re living in one of the province’s colder areas, you won’t be worried about Earthquakes. However, you probably want to ensure your pipes are covered if they freeze during those sub-zero temperature days. Most policies automatically cover this. If you leave your home for a vacation, some companies require you to have someone visit the house every day.
Not all policies have this requirement, but confirm whether your policy does before leaving town. Even if you don’t have any requirements, it may make sense to drain your pipes to give you peace of mind. We hope you’re going somewhere warm!
The Home Insurance People are proud to be British Columbians, and we’re experts in Home Insurance in BC. If you have any questions about the coverage you should be looking for in your area, send us an e-mail or call us at 250-388-5533.