Insurance for Homeowners in British Columbia

Yes, it does but coverage depends on the cause of the damage. If the damage is sudden and accidental, such as a burst pipe or a storm-related roof leak, you’re typically covered. However, ongoing maintenance issues like gradual roof wear, seepage, or poor upkeep are not covered.

To strengthen your protection, InsureBC offers optional add-ons for overland water coverage which protects you against flooding from heavy rainfall or overflowing rivers. 

Absolutely. With InsureBC, you can get an instant online quote in just minutes. Our platform makes it easy to compare coverage options, adjust your limits, and choose a policy that fits your lifestyle and budget.

And if you’d like to explore additional choices beyond what’s available online, our licensed insurance advisers can shop the broader market on your behalf. They’ll review options from multiple insurers, answer your questions, and help ensure you’re getting the right protection at the best value.

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A standard home insurance policy provides four key areas of protection:

• Dwelling protection – Covers your home, garage, sheds, decks, and other structures.
• Personal property – Covers your belongings such as furniture, electronics, and clothing, even if they’re temporarily outside the home.
• Personal liability – Protects you if someone is injured on your property or if you accidentally damage another person’s property.
• Additional living expenses – Pays for hotel stays, meals, and storage if you can’t live in your home while it’s being repaired after a covered loss.

*Please see our policy wordings for more details.

This coverage ensures that both your financial investment and peace of mind are protected.

You should insure your home for the cost of rebuilding it today, not the market value or your mortgage balance. This ensures you’re protected against unexpected rebuilding costs caused by inflation or rising construction expenses.

InsureBC brokers use professional tools and appraisals to calculate the full replacement value of your home, so you won’t be left underinsured in the event of a loss.

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The cost of home insurance in BC depends on several factors, including your home’s location, age, building materials, and the amount of coverage you choose. Properties located in areas with higher wildfire or flood risks may see higher premiums. At InsureBC, we use current rebuilding cost evaluations to make sure your coverage is accurate and up to date.

💡 Tip: Even two similar homes in the same city can have different premiums. That’s why it’s important to get a customized quote.

Most homeowners insurance policies do not automatically extend coverage for a business that is being run out of the home. That doesn’t mean it cannot be added, however. Contact one of our insurance advisors if you’re unsure whether your home-based business can be added to your homeowners insurance policy.

Within your homeowners insurance policy, the deductible is the amount that you agree to pay out of your own pocket before the insurance company gets involved to pay the remaining balance of a covered claim, up to the limit you have purchased in your policy. Depending on the homeowners policy you purchase, your main policy deductible can range from $500 to $5,000. The deducible you select should reflect the amount of risk you are willing to take on yourself. Keep in mind, the higher your deductible, the lower your premium, and vice versa.