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What type of coverage do I need?

The type of coverage you need is typically based on the value of the home you live in, and therefore want to insure. The insurance company considers every little thing required to rebuild your home to the same state it was, before experiencing the loss. This includes items such as the number of stories of the home, the area covered by the dwelling, the possible presence of a garage, and even down to the basement, whether it was fully finished or not. It’s important to remember that the value you insure your home for is not necessarily a reflection of the current market value of your home or how much you think you could get for your home if you were to sell it today.

Home Insurance

How much should I be paying for home insurance in BC?

The cost of your homeowners insurance policy will depend on a number of factors and can differ greatly between insurance carriers. One of the main factors affecting your premium is the location of your home. All major insurance companies use your postal code to determine the frequency and severity of the claims reported in your neighborhood, and they will use it to determine the risk, and therefore set the rate accordingly. For example, if you live in an area with a high likelihood of break-ins or vandalism, your rate could be higher than what you would pay in an area where those things are rare. The same can be sent for areas prone to flooding, forest fires, etc. Other items that affect your premium are the age, structure and construction type of your home, as well as the heating system you use, the type (and age) of your electrical system and of course your insurance experience, and the various optional coverages you choose to add, such as coverage for Earthquake, overland flooding and others.

Home Insurance

Does homeowners insurance cover a home business?

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.

Home Insurance

Will my home insurance go up if I make a claim?

Depending on the nature of your loss, the premium you pay for your homeowners insurance policy the subsequent year may see an increase, but that’s not a guarantee. Depending on the type of policy you have, you may lose your claims-free status or you may lose your claims-free discount leading to a small increase in your policy premium. Other factors will also come into play, including inflation, the overall performance of your insurance carrier, and even claims-related data within the same period in your postal code.

Home Insurance

What should my home insurance deductible be?

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.

Home Insurance
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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)

ICBC Online Renewal

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.

Optional Car Insurance

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.

Travel Trailer Insurance

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.

Car Insurance

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.

ICBC Online Renewal

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.

Motorcycle Insurance
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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.

International Business Insurance

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.

International Business Insurance

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.

International Business Insurance

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.

International Business Insurance

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.

International Business Insurance

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.

International Business Insurance
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What illnesses are typically covered by critical illness insurance?

Critical illness insurance typically covers illnesses such as cancer, heart attack, stroke, organ failure, and paralysis. However, coverage may vary depending on the policy. Contact your broker for more information.

Critical Illness Insurance

What is critical illness insurance?

Critical illness insurance is a type of coverage designed to provide financial protection when you are diagnosed with a life-threatening condition covered by the plan. This could include illnesses such as a heart attack, cancer, stroke, major organ failure, aortic surgery, or even Alzheimer's disease.

Unlike traditional health insurance, critical illness insurance in Canada offers a lump sum payment upon diagnosis of a covered condition, giving you the flexibility to manage medical care costs and other expenses during this challenging time.

Applying for coverage is straightforward and policies are available for upto age age 75, making it an integral part of your financial safety net. With InsureBC you can feel confident knowing you're financially protected against some of life's most critical health challenges.

Critical Illness Insurance

What happens if I stop paying premiums on my permanent life insurance policy?

If you stop paying premiums on your permanent life insurance policy, it may lapse and your coverage will end. However, some policies have a grace period during which you can catch up on missed payments. Contact your broker for more details.

Permanent Life Insurance

How much does permanent life insurance cost?

The cost of permanent life insurance varies depending on factors such as your age, health, and coverage amount. It's best to speak to a broker for a personalized quote.

Permanent Life Insurance

How much permanent life insurance coverage do I need?

The amount of coverage you need depends on your individual circumstances, such as your income, debts, and family situation. It's best to speak to a insurance broker to determine the appropriate coverage amount for your needs.

Permanent Life Insurance

How does permanent life insurance differ from term life insurance?

Term life insurance provides coverage for a specific period of time, typically 10-30 years. Permanent life insurance, on the other hand, provides coverage for life and also includes a savings component.

Permanent Life Insurance
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What should I do if I think I've been a victim of identity theft?

If you suspect that you've been a victim of identity theft, act quickly. Contact your bank and credit card companies, place fraud alerts on your credit reports, and file a police report. Contact your broker for more details on what steps to take.

Identity Theft Insurance

Will Identity Theft Restoration Insurance prevent identity theft from happening?

No, InsureBC's Identity Theft Restoration Insurance cannot prevent identity theft from happening. However, it can help protect you financially in the event of an identity theft event.

Identity Theft Insurance

Can I purchase InsureBC's Identity Theft Restoration Insurance online?

Yes, you can purchase InsureBC's Identity Theft Restoration Insurance online. Simply visit our website by clicking this link and complete the online application to get a personalized quote.

Identity Theft Insurance

What is identity theft insurance?

Identity theft insurance is a type of insurance policy that helps protect you from financial losses resulting from identity theft. It typically covers expenses related to restoring your identity, such as lost wages, legal fees, and credit monitoring services.

Identity Theft Insurance

What should I look for when choosing a boat insurance policy in BC?

When choosing a boat insurance policy in BC, it's important to consider the coverage options, deductibles, and premiums. You should also research the insurer's reputation for customer service and claims handling.

Boat Insurance

What factors affect the cost of boat insurance in BC?

The cost of boat insurance can vary depending on several factors, such as the type and size of your boat, its age and condition, where you operate it, and your driving record. Other factors may also come into play, such as whether you have safety equipment on board, such as life jackets and fire extinguishers.

Boat Insurance

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.

Exterior of a house in BC

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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