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Does the tenant insurance cover hotel and food costs?
Yes, tenant insurance typically covers additional living expenses such as hotel and food costs if you need to temporarily relocate due to a covered loss. For instance, if your apartment becomes uninhabitable due to fire or water damage, your policy will cover your temporary housing costs and meal expenses until you can move back in. This provision ensures that you’re not left stranded or financially burdened by unexpected events. Always review your policy’s specifics to understand the limits and conditions of this coverage.
Does Strata Water Deductible Insurance cover my home or condo insurance deductible?
No, Strata Water Deductible Insurance only covers the amount you would pay in the event of a water damage or sewer backup claim under your strata insurance policy.
Why should I consider raising my strata water deductible?
Raising your strata water deductible can lower your insurance premium and save you money in the long run. However, it's important to consider whether you can afford to pay a higher deductible in the event of a claim.
How does a deductible work with strata insurance?
Strata insurance policies typically have a deductible that applies to water damage claims. This deductible is usually shared among all unit owners and is often a significant amount of money. Strata Water Deductible Insurance covers the amount you would pay in the event of a water damage claim up to the policy limit.
What is a deductible in insurance?
A deductible is the amount of money you pay out of pocket before your insurance pays the rest in the event of an insured loss. For example, if you have a $1,000 deductible and experience a loss of $5,000, you will pay the first $1,000 and your insurance company will pay the remaining $4,000.
Does home insurance include earthquake coverage?
Earthquake insurance is not included automatically, rather it is an optional coverage that we recommend be added to your policy. It covers the cost of rebuilding your property and replacing your belongings that were damaged in an earthquake. The insurance cover includes loss or damage to the building and personal property, additional living expenses, and related exclusions like landslides, tsunamis, or other forms of earth movement. The policy also covers extra living expenses should you need to temporarily reside somewhere else while your place is being repaired. It does not cover fires or floods that happen as an after effect of the earthquake. Most policies have a percentage deductible rather than a fixed dollar amount, meaning you will be responsible for a percentage of the damage, which can be quite high. Most policies start at 5%, however some insurers may require you to pay between 15-20% deductible. Let’s put this into perspective. If your earthquake coverage limit on your base policy is $300,000 and your deductible is 15%, you would be responsible for $45,000 before the insurance company would pay the rest. In a condo, your strata might require a similar amount. To combat this, we have a Buy-Back option which enables you to “buy down” or lower your deductible in the event of a major earthquake. This unique coverage is available to anyone who owns their own property with basic earthquake coverage added onto their primary policy. Depending on your situation, this extra coverage can cost as little as $20 per month.
How much does Travel Trailer Insurance Cost in BC?
Most Travel Trailer products are very competitively priced. Each company offers different coverages and coverage limits. Contact one of our offices to find the best product for your needs.
Is New Vehicle Replacement Insurance worth having on a leased vehicle?
Yes! Nowadays, most leasing companies will build GAP insurance into their contracts, but most people don’t realize that GAP is more designed to protect the Lessor as opposed to the Lessee. In the event of a Total Loss, GAP insurance will make up the difference between what a person owes on their leasing contract and the vehicle’s actual cash value. This leaves the Lessee with no vehicle, and nothing to put towards a new one. Our New Car Replacement policy would pay the Insured the difference between the actual cash value settlement that the Lessor received for the loss vehicle, and the cost of the brand new model year, which can then be applied as a down payment towards a new lease or financing contract for a replacement vehicle.
Is there a discount if I have more than one motorcycle insured with ICBC?
Multi-vehicle discounts may be applicable depending on the number of motorcycles insured under the same policy. Speak to your InsureBC broker to find out about this option.
My transaction is not eligible online, now what?
No problem! If you cannot renew your policy online, our licenced insurance agent can assist you in one of three simple ways: Step 1: Visit an office near you to renew your policy in-person. Step 2: Call any of our offices to renew your policy over the phone. Step 3: Complete the renewal request form online and we will contact you to renew your policy via email or over the phone.
What cannot be done online?
You cannot renew your policy online if: It is for a jointly owned vehicle It is for a leased vehicle. It is for a company-owned vehicle It is for a motorcycle It is for a collector vehicle It is a commercial policy It is expired You want to add, remove or change your ICBC optional coverages during the renewal You have outstanding debt owed to ICBC Other potential ineligibilities
What does basic auto coverage from ICBC provide?
Basic coverage from ICBC includes third-party liability, accident benefits and uninsured motorist protection.
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 much coverage can I get with 10-year life insurance?
The amount of coverage you can get with 10-year life insurance depends on your age, health, and other factors. To determine the right amount of coverage for your needs, it's recommended to speak with your broker.
What are the benefits of 10-year life insurance?
The benefits of 10-year life insurance include affordable premiums, flexibility in coverage, and the ability to easily cancel the policy when you no longer need it. Your broker can provide more information on the specific benefits of 10-year life insurance.
What is 10-year life insurance?
10-year life insurance is a type of term life insurance that provides coverage for a period of ten years. The specifics of 10-year life insurance may vary depending on the insurer and policy, so it's best to contact your broker to learn more details.
Is health insurance for me?
Find out for yourself by answering a few simple questions and allowing one of our Life Insurance experts to contact you in order to give you a free, no obligation quote. Or you can contact us at 1-877-801-7189.
Is 20-year Term Life Insurance for Me?
If you're seeking coverage that's affordable and spans a specific period, a 20-year term life insurance policy may be a good fit for you. This type of life insurance is particularly suited for those who wish to secure their financial obligations during significant life stages, such as raising a family or paying off a mortgage. Regularly paying your premiums is essential to keep your 20-year term life insurance policy active.
Is 10-year Term Life Insurance for me?
If you're looking for short-term life insurance coverage, a 10-year term life insurance might be suitable. It's a good option if you have specific short-term financial obligations or if you're unable to afford longer-term coverage. Regularly paying your premiums keeps your coverage active during the term length. In addition, some companies offer what is known as an exchange feature which allows the insured to extend the term for example from ten year term to a longer term (20 year term). Make sure to check with your Life Insurance specialist to confirm these features.
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.
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.
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.
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.
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.
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.
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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