Home Insurance
Your BC Home Insurance Policy
Get protection for your home, personal property, loss of use and rental income. Learn more about various types of home insurance.
Homeowners
This type of coverage is most commonly bought when you own a home that is not part of a Strata. If you have a mortgage, your lender will require you to buy homeowners insurance.
Condominium and Townhouse
As an owner of a condo or townhouse, you own property that is part of a Strata Corporation. Should a claim arise from your unit, you maybe liable to pay the Strata Corporation's Insurance deductible.
Tenant's Insurance
Even though you may not own property, you will want to also insure your personal belongings. Your landlord may require you to buy tenant's insurance as part of your rental agreement.
Landlord Insurance
Properties rented to others may have additional risk factors. You may also want to have this coverage for loss of rental income.
What is Covered?
Your home insurance will typically cover your home, your personal contents, liability and loss of use. Earthquake, water damage, coverage for high value items are usually sold as optional endorsements.
Home
This covers the cost of rebuilding your home and any outbuildings like garage or shed. Usually this coverage will include a Replacement Cost Clause, this ensures that your property will be replaced with new or similar quality without factoring depreciation.
Personal Belongings
Protects the contents in your home or contents that maybe travelling with you. Certain items such as handbags, jewellery, bicycle, or computers may have reduced sub-limits.
Personal Liability
Personal liability protects you if you are legally responsible for causing injury to someone else or damage to their property. This liability insurance does not usually include automobile liability unless you purchase an umbrella policy.
Additional Living Expenses
After a loss, you may need to rent out another place until repairs have been made. For landlord or rented dwelling properties, "Fair Rental Value" is usually covered in Additional Living Expenses.
Frequently Asked Questions
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