Clara's best Home Insurance.
What does home insurance cover?
The average basic policy usually covers a limited number of risks like fire, vandalism, theft and covers your appliances and electronics for a limited amount. Most basic cover will not fully cover jewelry, collectibles (like baseball cards), bicycles and other higher value items. So always make sure to read the policy and see what is actually covered. The basic coverage usually will list the things they do cover. Whereas a more comprehensive plan will only name those risks they won’t cover.
What is a deductible?
What does named perils mean? What does named risks mean?
What is home insurance additional coverage?
What kinds of homes are covered by home insurance?
Does my home insurance cover work from home?
What is legal liability coverage?
This cover will not help you if you wish to sue someone, you hurt someone intentionally or say sell them an item like a car that is defective. So it’s a limited liability cover. Some insurers will sell an add on for ‘litigation’ that covers more cases if you’re sued.
How is home insurance priced ?
- Size of property
- Age of property
- Type of property (ie apartment vs standalone home)
- Your properties value
- The addons and extra coverage you include
- Your deductible
- Roof and wall materials and if they have been replaced recently If you have a basement and the condition it is in
- Heating type used ( a fireplace would cost more than a heatpump)
- Your proximity to fire hydrants and fire stations
- If you have a mortgage
- Location of the property (urban or rural and if it's in a dangerous area or not)
- If you smoke
- Your age
- If you’ve made claims in the last 3 years
- If you have an alarm and fire system and if it's connected to the authorities or first responders
I am a tenant do I need home insurance?
In addition, home insurance offers civil liability protection. This protection protects you if you are held liable for damage caused unintentionally to someone else.
How do home insurance discounts work?
What is Regional Coverage?
Do I have to have home insurance?
Does my home insurance cover my house when I go on holiday?
Is sewer backup covered by my home insurance?
Is Flooding covered by my home insurance?
Are earthquakes included in my home insurance ?
Is termite or insect damage covered by my home insurance?
Does Condominium corporations insurance cover my condo?
If my home burns down what do I get?
Who can sell you home insurance?
Can You Cancel Home Insurance?
2. Your rates have gone up - If your policy changes and is now more expensive it may make sense to change policy or provider, if this is the case check out the full list of vendors you can switch to here.
3. You've sold your house - If you're now renting instead or in between places it makes sense to cancel. I
4. You're moving house - If you've moving to a new home your old policy will no longer be applicable, as the house's location or features of the house will change.
When is it possible to cancel home insurance?
You can cancel for any reason even if not listed above, you can cancel anytime but dependent on when you cancel you may have extra fees.
-If you decide to break your contract in the middle of its duration you can be charged a penalty fee.
-Cancelling home insurance when the contract is up for renewal is the idea time to do so.
-Cancelling home insurance during the 'rescission right period' which is 10-15 days is also penalty free.
Because you're able to cancel anytime it makes sense to follow a bit of a checklist to make sure you minimise any fees and or don't lose any benefits.
- Check the details on your policy - it pays to check what happens if you cancel early and what the fees are, how to document the process and cancel the paperwork.
-Think about what coverage you're losing - it makes sense to check what your coverage actually covers and winter is coming think again about cancelling that coverage might mean if there is heavy snowfall or flooding.
- Check out the full list (here) of other providers to find a cheaper or better policy.
Costs of cancelling home insurance
- Cancellation fee - If you cancel mid term you may have to pay a fee, call your insurer to enquire or it will be in your policy document.
- Loss of discounts - If you change insurers you can lose benefits you have built up like accident forgiveness, loyalty points or no claim bonuses.
- Admin fees - your new insurer may charge admin fees for setting you up a new contract like a new policy fee.
Alternatives to cancelling home insurance
- Put your deductible up - you can save a lot if you choose a higher deductible.
- Negotiate or ask for a discount - many insurers will give discounts or let you negotiate especially if you intend on leaving, they'll typically offer better rates to keep you.
- Limit coverage - remove coverage for things you may no longer need like art or jewelry.
Who are the Most Popular Home Insurers?
RBC Insurance's personalized home package will help you protect your house, cottage, condo, and other seasonal properties. Features base coverage of repairing damages made to your home and its detached structures, while also offering coverage on both water and earthquake damage as optional policy add-ons. RBC Insurance's home package will also protect personal property found within your vehicles.
Sonnet home insurance
Sonnet offers personalized home insurance that will help you protect your house, cottage, and other seasonal properties. Features base coverage of repairing damages made to your home and its detached structures, while also offering coverage on earthquake damage as an optional policy add-on. Sonnet also provides an opportunity to save on home insurance by bundling both your home and auto policies together.
Make use of Belairdirect's personalized home insurance to help protect your house and condo. Features base coverage of repairing damages made to your home and its detached structures, while also offering coverage on both water and earthquake damage as optional policy add-ons. Belairdirect also provides an opportunity to save on home insurance by bundling both your home and auto policies together.
BCAA home insurance
CAA offers a home insurer package for BCAA members with 20% off.
CAA also offers an AMA home insurance policy for AMA members.
Home Insurance by State
Sonnet, TD, Intact, CIBC, Belairdirect and many others offer home insurance to BC residents.
Home insurance Alberta and Edmonton
Alberta home insurance is offered by many insurers including: Sonnet, TD, Intact, CIBC, Belairdirect, Desjardins, The Personal and many others offer home insurance to BC residents.
Home insurance Winnipeg
Manitoba home insurance is offered by TD, Intact, CIBC, Scotia, Personal many others offer home insurance to BC residents.
What is the Home Insurance Claims Process?
It pays to check your policy again and see if the damage is covered and most importantly see what your deductible is. Let's say your windows are broken by a storm and the damages cost $700 and your deductible is $500. This means you'd only get $200 back and your no claim bonus (ie the discounts for no claims on payments) would disappear which over a year or two could be worth more than $200.
2. Home insurance claim process
1. Call your broker or email them asap, the sooner generally the better as it can take some time to organize payouts.
2. If you can't live in your home due to damages you may be entitled to costs living in a hotel, so keep all receipts related to having to live elsewhere.
3. A claims specialist will come and investigate the damage and try and ascertain a payout amount and what will be covered.
4. You'll need to complete a proof of loss form, be very careful on this form any untrue statement like damages or prices of items can void your policy. You'll need to make a list of what's damaged, stolen or lost with photos, receipts, prices and warranties. You'll need photos of the damaged items and keep them until your insurer says you can get rid of them. You sign the form and state that it is true.
Do you Need Home Insurance for a Condo?
All condo associations (they are basically an association owned by all the owners that maintain common property like halls, elevators, garage space, the outside of the building and the lobby) will have some form of insurance. It varies greatly between condo associations. Some will just cover the common areas, with others covering some appliances, carpets or interior walls. Although your personal items laptops, clothes, art etc won't be covered by your condo association's policy and in some cases damage to the condo's roof (from hail), or personal liability if a guest slips by the pool or on ice outside may not be covered so it does make sense to understand your condo associations policy and work out where the blind spots of coverage are.
1. Why do you need condo insurance?
Extra living costs in case of emergency - if your condo burns down and you have to live in a hotel only personal home insurance will cover some of these living costs whilst your condo is being rebuilt.
Contingency cover - if your condo association's policy is not enough or doesn't cover certain aspects of damage home insurance for your condo could help in this case.
Personal liability claims cover - if a guest of yours or even someone delivering a package to you slips on ice or is hurt by a falling brick you could be liable to cover the medical and other fees. With personal liability cover you would not be liable for these bills.
2. How much is home insurance for a condo?
Home Insurance for a Condo can cost from $20/month to about $33 a month depending on the type of coverage, the price of the condo, deductible amount, age of building and a number of other factors.
Can I get Vacant Home Insurance?
Generally if your home is unoccupied across Canada your home-insurance provider can void your insurance policy if it's for more than 30 days. The best idea if you're planning being away for more than 30 days is to call your insurer, they may require a neighbor, friend or family member to pop in on a daily or weekly basis to check in on the property. If you're renovating or building a home it also pays to follow up with your insurer and see what changes need to be made for your coverage to be active.
If you rent your home and can't find a tenant within 30 days you'll also need to apply for a vacancy permit from your home insurer. This needs to be done within those 30 days to get coverage.
Is a summer home considered unoccupied for home insurance purposes?
Is there a difference between unoccupied home insurance and home insurance for a vacant property?
Typically unoccupied homes are homes that are lived in with appliances , furniture and utilities (internet, power, gas etc) working. Unoccupied home insurance can be covered under your normal home insurance policy with an extra cost usually by adding a $10 endorsement added.
Vacant property is a house that has no utilities connected and is empty for a longer period of time, vacant homes are more vulnerable because when something goes wrong it's likely to go unnoticed for some period of time. A home left unattended will begin to deteriorate and cost more to repair when issues are found. To get Vacant home insurance you'll need a separate policy outside a normal home insurance policy. There are a number of ways to lower the cost of a vacant property home insurance policy: Install locks on all windows, have a gardener or landscaper come by monthly, cover windows with curtains, check the property regularly.
What is High Risk Home Insurance?
Check out our full list of home-insurers.
Can Home Insurance be Transferred?
So in short no you cannot transfer home insurance.
Motor Home Insurance
View moreView less
SGI Canada's personalized home insurance will help you protect your house, cottage, condo, and rental properties. Features base coverage of repairing damages made to your home and its detached structures, while also offering coverage on water and earthquake-related damages as optional policy add-ons. SGI Canada also provides an opportunity to save on home insurance by bundling both your home and auto policies together.Visit website
View moreView less
Travelers' personalized home insurance will help you protect your house and property. Features base coverage of repairing damages made to your home and its detached structures, while also offering coverage on both identity theft and water damage as optional policy add-ons. Travelers also provides an opportunity to save on home insurance for those equipped with qualified smart home technology and protective devices that monitor security and fire hazards.Visit website
View moreView less
Northbridge Insurance's personalized home package will help you protect your house, condo, and rental properties. Features base coverage of repairing damages made to your home and its detached structures, while also potentially offering coverage on earthquake and water damage based on your eligibility. Northbridge Insurance also provides a "Homework Insurance" package for those whose homes are also their place of business.Visit website