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What is strata water deductible, and why would I need to top it up?
As a Condo owner, you have a Strata corporation that has insurance for the building as a whole including shared common areas, in addition to your own condo policy which covers your individual unit. Your strata’s insurance policy has certain deductibles that they would charge each owner in the event of a claim. Your base policy will provide coverage for this in Condo Deductible Protection, so be sure to match this coverage with what your strata requires. Unfortunately, in recent months a large number of BC Strata Corporations have seen their water deductibles increase significantly, which now far exceeds the limit offered by the insurance carrier covering the individual condos. In other words, the strata deductible offered in your base policy can be much lower than what the strata corporation requires. Therefore, to ensure you are not held personally responsible for the difference in the event of a claim, you can purchase a top-up or buy-back coverage to match what the strata requires. Our buy-back option addresses the exposure after both the building policy and the personal condo policy have exhausted their limits, essentially closing the gap.
Why do I need tenant insurance? Isn’t insurance my landlord’s responsibility?
Both parties should have an insurance policy as each one will cover different things. The landlord's insurance covers the property itself, their contents, loss of rental income, and premise liability. This coverage does not extend to tenants. Tenants insurance covers your personal belongings, your own tenant liability insurance, and any extra living expenses that you would incur should you have to temporarily relocate while your place is being repaired.
How many roommates are allowed on a tenants insurance policy?
Roommates are not covered by tenant insurance policies, as each tenant must have their own policy. Please note, immediate family members do not qualify as roommates and will be automatically covered by the policy.
Is tenant insurance mandatory in British Columbia?
Many landlords in British Columbia require their tenants to purchase tenant insurance prior to moving in. Luckily, it is among the most affordable and simple insurance products in the marketplace. Depending on coverages, your policy can start as low as $20 per month.
How much does Tenant's Insurance cost in BC?
Tenants insurance is among the most affordable and simple insurance products in Vancouver and the rest of the BC marketplace. In many situations, the cost of tenant insurance is far lower than people expect. Depending on the coverages you select and the number of possessions you own, a typical tenants insurance policy can start as low as $20/month. All of our offices specialize in Tenants insurance and represent Canada’s largest and most reputable insurance companies. Our online system is backed by a number of licensed insurance brokers who are true experts in the field of Tenants Insurance. We have just put the entire purchase experience online to allow you to purchase it on your own. Give it a try and get a quick renters insurance quote.
You may also be eligible for discounts by bundling your tenant insurance with other policies, such as car insurance.
Despite what some people believe, renters insurance can actually be purchased at a relatively low cost. Before we cover the insurance rates, however, let’s have a closer look at the coverage offered within a renter insurance policy, offered by one of Canada’s largest insurance companies.
What does landlord insurance cover?
Landlord insurance covers the property itself (and any unit improvements), the landlord’s contents (i.e. appliances, furniture, etc.), loss of rental income, and premise liability. Our landlord insurance policy is customizable to suit your coverage needs.
Do I need to keep a copy of my renewal documents in my car even if I renewed online?
You must print out your renewal documents and keep them in your vehicle at all times. If you do not have a printer, your local office would be happy to print this for you free of charge. Alternatively, you can request a copy be mailed to you via Canada Post (please allow up to 10 days for delivery)
Does being in a car accident affect my car insurance premium?
For an estimate, the impact of an at-fault claim will have on future Autoplan premiums, visit the premium impact estimator.
Does my policy cover personal items inside the trailer?
It depends on the provider but many will offer additional property replacement provisions which can include reimbursement costs incurred for personal items stored inside a travel trailer. Such coverage may extend to things like furniture, appliances, electronics and other belongings that are lost or damaged due to an eligible risk situation. It is important to check with your insurer to determine the level of coverage available.
How Much Does Auto Insurance Cost in BC?
ICBC bases your car insurance premiums on a variety of factors including the principal operator’s driving experience, the territory of operation of the vehicle, the location of the vehicle when not in use, the use of the vehicle (pleasure only, business, artisan, etc.), the type of car, and any applicable discounts that may apply. If you have more than 10 years driving experience and a good driving record, a private carrier may provide better value for your optional coverages. Ask one of our agents to see if private auto insurance is right for you. Car insurance is expensive in Canada, particularly if you have recently obtained your driver’s license and do not have any driving experience. Let one of our licensed team members assist you or your teenager with getting the best car insurance quotes for first-time drivers. They will reach out to all applicable insurance companies to find a good product for young drivers, while keeping the insurance cost as low as possible, saving you money.
How can I log in to access my online Autoplan Renewal?
You can log in using your BC Service Card app on your mobile device. This is used to prove your identity when accessing online government services. Learn how to set up and use the BC Service Card App. To complete the set-up of this app, you must verify your identity. This verification process may take a few days, so we recommend completing it in advance of your policy’s expiry date.
How do I buy, sell or import a motorcycle?
Our licensed insurance agents can transfer a motorcycle or even a scooter and get you back on the road pronto. Even if you are planning to import a motorcycle into BC from another Province or internationally, our team can assist you with all the paperwork required to get your two-wheeler back on the road. Please give our office a call in advance to find out which documentation is required to obtain a motorcycle insurance policy given your specific situation.
What should I look for in an international business insurance provider?
When choosing an international business insurance provider, it's important to look for a company with experience in providing coverage for businesses operating in your industry and geographic location. It's also important to choose a provider with a strong financial rating and a track record of paying claims promptly. InsureBC can help you find the right insurance provider for your needs.
How can I ensure that I have the right amount of coverage?
Working with an experienced international business insurance broker like InsureBC can help ensure that you have the right amount of coverage. Our experts can evaluate your business and recommend the types and amounts of coverage required to mitigate risks.
What information do I need to provide to get international business insurance quotes?
To get international business insurance quotes, you will need to provide information about your business, including its location, industry, and the types of coverage you require.
What is the role of international business insurance brokers?
International business insurance brokers help businesses find the right insurance coverage for their specific needs. They can provide expert advice on the types of coverage required and help businesses find the best insurance providers.
What kind of businesses need international business insurance with US exposure?
Any business that operates in the US or does business with US clients should consider getting international business insurance with US exposure. This can include businesses in industries such as manufacturing, hospitality, and technology.
What is US exposure in international business insurance?
US exposure refers to the risks associated with conducting business in the United States. This can include risks related to US laws and regulations, as well as risks associated with doing business with US clients.
How does the application process work for a 30-year term life insurance plan?
The application process involves filling out a form with your personal and medical information. Some insurers may require a medical exam. Check with your broker to know about the details of application process related to your case.
What happens if I outlive my 30-year term insurance policy?
If you outlive your policy, the coverage ends. However, you may have the option to renew your policy or convert it into a permanent one.
Are there any pre-existing medical conditions excluded from 30-Year Term Insurance?
Yes, some pre-existing medical conditions and high-risk activities may be excluded or require specialized coverage. We recommend discussing all potential exclusions with your insurer prior to purchase.
Can I convert my 30-year term insurance into a permanent life insurance plan?
Yes, many term life insurance plans offer the option to switch to a permanent life insurance plan during the policy term, without a medical exam. You can discuss the details with your broker for additional information.
How can I get a 25-year term life insurance quote?
You can get a 25-year term life insurance quote from InsureBC simply by filling out the form by clicking on this link.
Can I add riders to my 25-year term policy?
Yes, you can add additional coverage with riders such as accelerated death benefit, waiver of premium, accidental death benefit, etc., depending on your insurance company. These riders give you greater flexibility in customizing your policy and protecting your family.
Can I buy sports equipment insurance online?
Yes! While our 90 locations across BC can assist you with purchasing Sports Equipment Insurance face-to-face, our Online Tool will instantly provide you with a quote and the ability to purchase a policy for your equipment, 24 hours a day, effective immediately. We are the only insurance provider in BC to offer Sports Equipment Insurance as part of our various insurance programs.
What does boat insurance EXCLUDE?
Our product excludes the following: Applicants under the age of 25 years old. Vessel aged 15 years and older. The hull of the vessel that is fiberglass, over wood, wood or Ferro-cement. Vessels with a propane fridge. Vessels with a maximum speed exceeding 50 mph. Vessels that are not checked on a regular basis.
What other benefits does this type of coverage offer?
Special events insurance not only provides financial protection against losses, but it can also help reduce stress and give organizers peace of mind when planning their event. It’s also an important part of risk management that can help protect your business from lawsuits or other litigation if something were to go wrong during your event. InsureBC offers special events insurance for businesses and organizations hosting large gatherings, festivals or other events in BC. With this policy, you can get financial protection against potential losses as well as reduce stress and have peace of mind when planning your event.
Who should consider purchasing special events insurance?
Individuals, organizations and businesses planning any kind of public gathering in BC should consider getting special events insurance in order to protect themselves financially if something were to go wrong during the event they planned.
What types of losses are covered under this policy?
This policy covers financial loss due to legal liability from claims made by third parties resulting from bodily injury, property damage or advertising injury caused by an insured’s negligence at the event site. It also offers coverage for loss due to cancellation of the event and/or non-appearance of key personnel (e.g., speakers) due to illness or accident.
An Insider Look at the Insurance Industry
Discover a wealth of knowledge on insurance-related topics, as our team of experts at InsureBC share their insights, advice, and tips to help you navigate the world of insurance with confidence.
The Ultimate Guide to Homeowners Insurance in BC - 2024
Do you know what homeowners insurance covers? And, what types of homeowners insurance coverage exist? Maybe you have heard from your family, realtors or mortgage brokers saying the importance of buying homeowners insurance. But why? If you can’t answer some or none of the questions I’ve asked, this article will help you understand all the important things about homeowners insurance so that you can make an informed buying decision when you’re ready.
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