The Home Insurance People are experts when it comes to Home Insurance in BC. We also might be biased, but we really think that BC is the most beautiful place on earth. From the ocean views on Vancouver Island to the mountain terrain of the Rockies, we really do live in the best province. However, all of that beauty does come with some specific concerns when it comes to Home Insurance.
Here are 3 things you should keep in mind when buying Home Insurance in BC
Earthquake Insurance
If you live in BC, you’re probably more than aware of the risk of ‘The Big One’ hitting in certain parts of our province. You may even 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 important to make sure that your policy has enough Earthquake insurance to make sure 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 more than 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 all about the coverage you’re paying for and about the options available to you. Want to know more about preparing for an earthquake? Click here.
Flood Coverage
In the last few years, the insurance industry has made some drastic changes when it comes to covering floods in homes. It used to be that there was zero coverage for a true 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 own versions of flood coverage to policies. If you are in an area that is 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 salt water flooding. Unfortunately, this means Home Insurance in BC still won’t cover tsunami damage.
Pipes Freezing
If you’re living in one of the colder areas of the province you won’t be worried about Earthquakes. However, you’re probably wanting to make sure your pipes are covered if they freeze during those sub-zero temperature days. Most policies automatically cover this. Keep in mind if you leave your home for a vacation some companies require you to have someone visit the home every day.
Not all policies have this requirement, but make sure you 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 just send us an e-mail or call us at 1-844-544-4664.
