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. In addition, also related to this post, we’ve chosen the best home insurances in Ontario, too.
RATESDOTCA has more than 20 years of experience in the insurance industry. They are one of the most popular insurance search engines in Canada. RATESDOTCA has helped millions of Canadians find their perfect insurance plan. In just a couple of minutes, you can receive your personalized insurance quotes from one of the top insurers in Canada.
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.
RATESDOTCA is not an insurance company themselves; they are an insurance marketplace. They work with over 50 home insurance companies in Canada to help Canadians find the perfect online quote.
You first need to input the type of insurance you want and your personal information on RATESDOTCA. You will then 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 rates possible. Comparing home insurance quotes on RATESDOTCA could result in a saving of 10%!
When calculating your home insurance premium, several factors will be considered, including:
- Your home address
- Your home’s replacement cost
- Your claims history
- Your electrical supply
- Your heating system
- Your plumbing
- Your proximity to help
- Your roof
- Your home security system
- Your lifestyle
- Your credit history
- Your renovations and betterment
- Your pets
- If your home is used as a business or home office
Home insurance from RATESDOTCA covers your home and contents. Your coverage will also include personal liability – if anyone is injured on your property. You will also receive additional living expenses if you are displaced from your home.
RATESDOTCA also offers intuitive financial tools and calculators. They aim to help you make smart financial decisions. You will also have access to expert news, information, and resources to help you save money and reach your financial goals.
Let’s take a look at some of the pros and cons of applying for home insurance with RATESDOTCA.
- RATESDOTCA is free to use. You do not pay any fees or charges as your insurance provider will pay all RATESDOTCA’s fees. All pricing is transparent.
- 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.
- 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.
- You can bundle your home and auto insurance and save up to 15%.
- RATESDOTCA offers basic, broad, and comprehensive homeowner’s coverage. You can choose the coverage level that best supports your insurance needs and budget.
- Optional coverage includes earthquake coverage, sewer backup, ride insurance and identity theft. You can also get cover for identity theft or fraud, mass evacuation, and lock replacement.
- RATESDOTCA connects you directly with your chosen provider. Your information and insurance choice will be transferred directly to your chosen provider.
- The search filters are limited. You cannot 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.
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. However, any questions about a specific insurance provider and what they offer should be directed to the provider.
RATESDOTCA is a great way to quickly and easily compare insurance quotes. You will receive a tailored list of insurance plans based on your search criteria. You can then choose a plan that has your preferred level of coverage at an affordable monthly premium.
RATESDOTCA also incorporates the increased risk of earthquakes and forest fires in BC into their insurance plans.
If you are looking for a direct insurance provider, RATESDOTCA may not be the best option. However, if you want to search multiple providers to find the best coverage for the lowest cost, RATESDOTCA could be a fantastic option.
Visit their website today for more information, or to receive your free home insurance quotes.
2. TD Insurance
TD Insurance is one of the most popular insurance providers in Canada. They are the largest direct-response home and auto insurance groups in the country. TD Insurance is a secure and trustworthy insurance provider that is owned by TD, one of the largest banks in Canada.
TD Insurance offers the Million Dollar Solution. This gives you the flexibility of one overall amount of coverage. There are no fixed amounts of coverage for your:
- Additional living expenses
- Clean up costs
- Rebuilding expenses
Insurance is available for homes, condos, and tenants. Applying for insurance on TD’s website offers you a saving of 5%.
If you need to claim your insurance, TD Insurance offers a ‘Settle Your Way’ option. You can choose to repair or rebuild or settle in cash.
- TD Insurance coverage includes All Risks, Personal Liability, and Additional Living Expenses. Rebuilding to Code, Water Damage Coverage and Legal and Home Assistance are also offered as standard.
- There are plenty of insurance add-ons to choose from. Your options include Personal Valuables Coverage, Above Ground Water, and Identity Theft Recovery.
- You can receive discounts if you apply for an insurance quote online.
- You can also receive a discount if you have a connected alarm for water damage, fire, or theft.
- Multi-home discounts are available. You can also receive an insurance discount if your home is a new build.
- TD Insurance offers information, tips, and resources about your home insurance.
- TD Insurance does not offer car insurance in BC. This means you will be unable to bundle your home and auto insurance.
- An enhanced deductible waiver is not available. This means you will always have to pay your deductible, regardless of the size of your claim.
TD Insurance is one of the largest home insurance providers in Canada. They prove a global limit of coverage that means you can apply extra coverage amounts to any of your coverage categories.
TD Insurance is a great option for those looking for a direct insurance provider. They are owned by one of the largest banks in Canada, giving you an extra layer of safety and security.
Although cheaper insurance is offered by some of TD’s competitors, choosing such a reputable company can help to give you peace of mind. Visit TD’s website today for more information.
3. The Co-Operators
Established in 1945, The Co-Operators is a leading financial services co-operative. They offer multi-line insurance. They have more than 2,500 licensed insurance representatives across Canada. The Co-Operators manage hundreds of thousands of insurance policies across the country.
The Co-Operators insure a variety of property types. They offer home insurance, condo insurance, tenant insurance and vacation home insurance. You can get an online insurance quote quickly and easily. Alternatively, you can speak to one of The Co-Operators’ financial advisors.
The Co-Operators looks at several factors when considering the price of your insurance premium, including:
- Your credit score.
- The age, size and features of your home.
- The materials used to build your home.
- The estimated cost of reconstruction.
- Your address.
- Your claims history.
- The value of your personal belongings.
- The type of coverage and deductible you choose.
The Co-Operators offer three types of home insurance:
- Prestige Plus – This is recommended for higher-value homes. The insurance will be customized to your home’s unique needs and will include all the policy enhancements you may require.
- Prestige – This offers the highest protection for your home and personal property.
- Classic – This offers less coverage but has lower monthly premiums.
- The Co-Operators only perform a soft credit score when reviewing your application. This means there will be no impact on your credit score.
- After-hours emergency customer services are available 24/7.
- In-house claims experts handle claims quickly.
- You have several payment options, such as online payments and monthly plans.
- You can get an online insurance quote quickly and easily. Alternatively, you can speak to one of The Co-Operators’ financial advisors.
- The Co-Operators offer a variety of insurance options. This includes home, auto, life, business, farm, and travel insurances.
- Coverage includes Personal Property, Liability Coverage and Perils.
- You can make a claim by phone, online via the mobile app or via email.
- Additional living expenses are not covered.
- Earthquake coverage is not included.
The Co-Operators is one of the leading providers of home insurance in Canada. They offer three different coverage options based on your budget and insurance requirements.
Their website also features a no-obligation online calculator. This is free to use and gives you an insurance estimate. Visit their website today.
4. Intact Insurance
Intact Insurance provides insurance to more than 4 million Canadians. They are the largest home, auto and business insurance company in the country. They are partnered with more than 6,000 independent insurance broker offices across Canada.
You will be connected to an insurance broker. The broker will help you to find the perfect coverage for your needs at the best possible price.
Intact Insurance offers tailored home insurance coverage in BC. Their insurance includes coverage for:
- Your house – This includes any outdoor structures.
- Your contents – Choose how much coverage you need for your contents and personal belongings.
- Yourself – You will receive Personal Liability Protection worldwide.
Below are some of the pros and cons of Intact Insurance.
- House Insurance, Condo Insurance and Cottage Insurance are available. You could also choose Apartment Insurance, Home-Based Business Insurance or Rented Dwellings Insurance.
- Implementing preventative measures such as an alarm system, mainline backwater valves or water sensors can result in discounts on your premium.
- Performing regular maintenance can also help to reduce your premium.
- You can choose to pay monthly or annually. You could receive up to a 10% discount if you pay in full.
- You can make payments or submit a claim quickly and easily online.
- Claims reporting is available 24/7.
- Intact Insurance does not specify how long the claims process takes.
- Customer reviews are not consistently good.
Intact Insurance is one of the oldest insurance companies in Canada, with its roots dating back to the 1800s! They offer a unique insurance experience by connecting you with your own insurance broker.
The insurance broker will go through your personalized insurance requirements. They will then recommend insurance policies based on the information you provide.
A quick search of Intact Insurance’s reviews shows multiple negative reviews. They scored a B- with the Better Business Bureau (BBB). This shows some key improvements could be made in their customer services.
However, Intact Insurance remains a popular insurance company in Canada. Visit their website today for more information or to be connected to an insurance broker.
Belairdirect has provided home and auto insurance to Canadians for more than 60 years. They are a proudly Canadian company. They offer coverage that fits your lifestyle. Belairdirect prides itself on its excellent customer service.
Home insurance includes coverage for:
- Your home’s structure
- Your contents
- Your personal liability
You will also get coverage for theft, fire, certain types of weather damage, water damage and impact from a vehicle or aircraft.
Belairdirect offers a 30-minute claims guarantee. This means the claim process will be initiated within 30 minutes of you reporting it.
- You can choose your deductible. A higher deductible will result in a lower monthly premium.
- Receive a discount if you install an alarm system.
- You can bundle your home and auto insurance to receive up to a 20% discount.
- You can apply online or call Belairdirect to get an insurance quote.
- Belairdirect has a quick and simple claims process. You can submit a claim via phone, online or through the mobile app.
- Insurance options include Homeowners Insurance, Condo Insurance and Tenants Insurance.
- Optional add-ons include earthquake coverage, Home Claims Forgiveness, and Identity Theft Insurance.
- You can track your claims online 24/7. You will be linked with a dedicated claims adjuster.
- There are not as many optional add-ons available.
- Policies can be more expensive than some of Belairdirect’s competitors.
Belairdirect is a popular home insurance provider in BC. They offer House Insurance, Condo Insurance and Tenants Insurance.
For those looking for a cheaper monthly premium, Belairdirect allows you to opt for a higher deductible. This can be financially sensible if you are unlikely to make a claim.
You can receive a free quote on Belairdirect’s website free of charge today.
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. Insurance for condos is quite similar but also has its differences.
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 coverage will 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 coverage is 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 coverage provides 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!