Home Insurance In BC

October 21, 2020 | Editorial Team

Home Insurance BC

Best Home Insurance BC

Are you moving from an apartment to your first home? Maybe upgrading from tenant insurance to home insurance? Or, just looking into home insurance in general, BC? We’ve got the perfect guide for you! A new home insurance policy can be confusing, especially if you don’t know where to start looking.

INCOME.ca has put together a guide for the best home insurance in BC. We want to help you find the perfect policy to ensure you, your home, and your property is all kept safe.

RATESDOTCA

RATESDOTCA is not an insurance company themselves; they are an insurance marketplace. They work with over 50 insurance companies in Canada to help Canadians find the perfect online quote. RATESDOTCA can help you find an insurance company that offers insurance for the home. They also offer car insurance, travel, health, life, pet, and business insurance. So, there is something for every Canadian in British Columbia.

When you input the type of insurance you want and your personal information on RATESDOTCA, you will receive a list of the top insurance companies that fit your needs. You can then compare each home insurance quote you receive to one another. This will help you find the lowest rate possible.

Pros

  • RATESDOTCA is free to use.
  • You can compare insurance quotes from multiple providers at once.
  • Getting a personalized online quote is quick. The whole process should only take ten minutes.
  • RATESDOTCA partners with well-known trusted insurance providers. For example, they partner with CAA, Allstate, Desjardins, Aviva, and many more.
  • Partnering with so many insurance providers means RATESDOTCA can offer some of the lowest home insurance quotes out there.
  • RATESDOTCA offers a wide range of insurance types. They offer travel, health, life, pet, business, and car insurance. So it’s a one-stop-shop for all of your insurance needs.
  • The RATESDOTCA website is easy to use. There is even a mobile app to make searching for the best insurance even easier.

Cons

  • The search filters are limited. You can not narrow down insurance providers by things like the deductible, interest rates, or policy limit.
  • There is no option to chat live with a RATESDOTCA team member.
  • RATESDOTCA is not an insurance company itself.

Support

The customer service team at RATESDOTCA is available from 8:00 AM to 8:00 PM Monday to Friday. They are also available from 8:30 AM to 4:00 PM on Saturday.

RATESDOTCA also has an active social media presence. They have a Facebook page, a Twitter, a YouTube Channel, an Instagram, and Pinterest.

Just remember that RATESDOTCA is not an insurance provider. They can help answer general questions, but any questions about a specific insurance provider and what they offer should be directed to the provider.

The Importance of Home Insurance

Although home insurance is not legally required in Vancouver British Columbia, that does not mean it’s not important. This is especially true since you typically need home insurance to get approved for a mortgage.

In general, home insurance is a good idea, as your home is likely your biggest asset, and you should want to protect your home. You never know when an accident could strike. Nature is unpredictable, and a storm could severely damage your home. You then may not be able to pay out of pocket to repair these damages. People and crime are also unpredictable. If someone breaks in and steals all of your valuables, can you afford to replace them?

Home insurance will take away that financial burden. It will cover the replacement cost of valuables that are stolen or damaged. It will also cover the cost of most damage that can occur to your home or property, such as water damage from a storm. If you are kicked out of your house for repairs, your home insurance will cover your additional living expenses as well.

Overall, home insurance in British Columbia is a good idea as it will give you peace of mind and save you money.

What Does Home Insurance Cover You For?

Home insurance in British Columbia varies depending on the type of coverage you choose. There are three types of home insurance policies: basic, broad, and comprehensive coverage.

Basic coveragewill cover your house, your valuables, the property, and liability coverage. You will not be covered for all perils, and the amount of coverage you receive for perils will be limited.

Broad coverageis a step up from basic. It typically has all-risk coverage for your home and property. But, your valuables will have specific named perils coverage. This means they won’t be covered for all damage that could occur.

Comprehensive coverageprovides all-risk coverage to everything. Your home, property, and valuables will be fully covered.

Most policies will also cover additional living expenses if you need to leave your home. For example, if there was a fire or water damage and you need to leave for repairs. All three coverage-types will also have liability coverage. This means if someone is hurt on your property, from falling on your icy sidewalk, for example, you will be protected from a lawsuit.

Make sure you choose the coverage that makes the most sense for you and your BC home. You don’t want to end up with a policy that won’t actually protect you and your home if something happens.

Contributing Factors and How Home Insurance is Calculated

You may notice that you receive different insurance home quotes from different companies. They all have a different way of calculating your premium. Here are some of the contributing factors that insurance companies take into consideration when calculating your premium.

  • The location of your home.
  • Your home’s plumbing system.
  • The state and age of your roof.
  • What type of heating system your home has.
  • Your credit score.
  • Your claim history with other insurance of home providers.
  • How close your home is to a fire hydrant and/or fire station.
  • If you are close to a body of water, as a lot of British Columbia is.
  • The type of wiring your home has.
  • How much it would cost to rebuild your home if it gets damaged.

These are some of the main factors that go into calculating the premium for your policy, but it’s not an exhaustive list. You can also get discounts on your policy if you go claims free for a year, for example.

The Bottom Line

Whether you’re looking for tenant insurance, travel insurance, or in this case, home insurance, INCOME.ca is here to help! Using RATESDOTCA to get a personalized insurance quote is the best place to start your search. That will ensure you get the cheapest policy that also suits your unique needs.

Ultimately, your home is what protects you and your family every day. You should take steps to protect it as well. Otherwise, you will be left paying for any damage or the replacement cost of your valuables, and that could be steep! Head to RATESDOTCA for your free personalized insurance quotes today!