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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.
What types of coverage are available with ICBC Basic Motorcycle Insurance?
Coverage includes Liability, Uninsured Automobile and Accident Benefits.
When can I renew my personal ICBC Auto policy online?
You can renew your auto insurance online as early as 45 days before your current policy expires, up until the expiry date. If your transaction is eligible, you should be able to do the whole renewal process in a matter of minutes, from anywhere at your convenience.
Will I be covered if something happens while parked at home?
Yes provided you purchased comprehensive coverage; this type of policy should cover losses or damages sustained by your trailer regardless of its location including at home or being stored off-site during non-use periods such as winterizing season.
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.
For what duration am I required to make premium payments?
The application process for a 10-year term life insurance is generally not very on us and depends on age as well as amount of coverage. Depending on these factors it could be just a medical questionnaire or if you are older and the amount is higher you may need to provide a blood test and or urine as well as a medical and potentially a doctors report. Whatever the requirements are they are designed to allow life insurance companies to assess your health risk and accurately calculate your insurance premiums.
Do you have to be Canadian to apply for 10-year term life insurance?
While most life insurance companies in Canada require you to be a Canadian resident, some policies may be available to non-residents under certain conditions. It's best to consult with an insurance advisor or directly with the insurance company for specific details.
What happens if I die while my 10-year term life insurance policy is still active?
If you die within the term of your 10-year term life insurance policy, the insurance company pays out a tax-free death benefit to your beneficiaries. This can provide crucial financial support for your loved ones, helping them handle daily expenses and significant financial commitments.
What’s not covered in a 10-year term life insurance plan?
While a 10-year term life insurance policy covers most causes of death, there might be exceptions such as deaths due to undisclosed medical conditions or suicide within a specific initial period (usually two years). To understand the specific terms and conditions of your term life insurance plan, always make sure to contact your broker.
What is 10-year term life insurance?
A 10-year term life insurance policy provides life insurance coverage for a set period of 10 years. During this term, the policy holder is provided with a guaranteed rate and a defined death benefit. If the policy holder passes away within this 10-year period, a tax-free death benefit is paid out to the designated beneficiaries.
What happens if I can no longer afford to pay the premiums on my 20-Year Term Life Insurance policy?
If you find yourself unable to afford the premiums for your 20-Year Term Life Insurance policy, it's crucial to act promptly to explore available options. Depending on your policy and the terms, you may have a grace period during which you can make the premium payment without a policy lapse.
What is travel insurance?
Travel insurance is a type of insurance policy that can provide financial protection against unforeseen events that may occur while traveling. It can cover things like trip cancellation or interruption, medical emergencies, lost or stolen baggage, and more.
What types of equipment can I insure?
We insure a variety of sorts equipment, including bikes, canoes, kayaks, skis, snowboard, surfboards, windsurfers, paddle boards, golf clubs and more.
I have to cancel my event. Is event cancellation covered?
Event cancellation coverage is an important element to prevent financial hardship in case of the event’s cancellation. This coverage can also be particularly useful when the event is not entirely canceled as even certain expenditures due to unforeseen circumstances may be covered. These circumstances can include things such as catastrophic weather and other unpredictable circumstances. The coverage may include financial reimbursement to the insured for deposits and other charges paid or contracted to be paid for transport, catering services, accommodation, photographs, flowers or dress hire booked for but not used and other non-refundable cancellation expenses incurred. If you’re not sure whether your Special Events Insurance contains this coverage, do not hesitate to contact us. Our online product does not have the event cancellation coverage, but if you would like to have the option to be included, please contact us.
Where can I buy cheap Special Events Insurance in BC?
We are now pleased to offer Special Event Insurance online, through our website. We have made the buying process so simple, you merely have to answer a few easy questions and you’ll instantly have access to the insurance policy for your event. Not sure what you need? With over 90 insurance offices across BC, we are one of BC’s largest writers of Special Event Insurance. Each of our offices can assist you in finding you the best Special Event Insurance for the lowest possible price. Whether you are getting married soon, planning an anniversary party or attending a convention, we will find you the best coverage for your circumstance.
I keep my bike in my backyard or at a stand outside of my condo building overnight. Is this covered?
At night bikes must be kept locked and secure INSIDE a building. This means that they have to be locked inside your home, condo, or a secure condo bike room. During the day the bike can be outside, however it must be locked and secure.
Do you insure e-bikes?
Our self-serve online policy only provides coverage for pedal pikes, however we have a separate e-bike policy that can be purchased. If you contact us at 778-945-2761 or email contact@insurebc.ca, we will get your e-bike covered. Please note, the maximum watt allowance is 500W.
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