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Can I get a home insurance quote online?
Absolutely. With InsureBC, you can get an instant online quote in just minutes. Our platform makes it easy to compare coverage options, adjust your limits, and choose a policy that fits your lifestyle and budget.
And if you’d like to explore additional choices beyond what’s available online, our licensed insurance advisers can shop the broader market on your behalf. They’ll review options from multiple insurers, answer your questions, and help ensure you’re getting the right protection at the best value.
Does home insurance cover water damage?
Yes, it does but coverage depends on the cause of the damage. If the damage is sudden and accidental, such as a burst pipe or a storm-related roof leak, you’re typically covered. However, ongoing maintenance issues like gradual roof wear, seepage, or poor upkeep are not covered.
To strengthen your protection, InsureBC offers optional add-ons for overland water coverage which protects you against flooding from heavy rainfall or overflowing rivers.
What does home insurance cover?
A standard home insurance policy provides four key areas of protection:
- Dwelling protection – Covers your home, garage, sheds, decks, and other structures.
- Personal property – Covers your belongings such as furniture, electronics, and clothing, even if they’re temporarily outside the home.
- Personal liability – Protects you if someone is injured on your property or if you accidentally damage another person’s property.
- Additional living expenses – Pays for hotel stays, meals, and storage if you can’t live in your home while it’s being repaired after a covered loss.
*Please see our policy wordings for more details.
This coverage ensures that both your financial investment and peace of mind are protected.
How much coverage do I need for home insurance?
You should insure your home for the cost of rebuilding it today, not the market value or your mortgage balance. This ensures you’re protected against unexpected rebuilding costs caused by inflation or rising construction expenses.
InsureBC brokers use professional tools and appraisals to calculate the full replacement value of your home, so you won’t be left underinsured in the event of a loss.
How much is home insurance in BC?
The cost of home insurance in BC depends on several factors, including your home’s location, age, building materials, and the amount of coverage you choose. Properties located in areas with higher wildfire or flood risks may see higher premiums. At InsureBC, we use current rebuilding cost evaluations to make sure your coverage is accurate and up to date.
💡 Tip: Even two similar homes in the same city can have different premiums. That’s why it’s important to get a customized quote.
Are valuable collections and art covered under high value home insurance?
Yes. One of the key advantages of high-value home insurance is the broader protection it provides for valuable collections. Compared to standard home policies, which often impose low special limits and require appraisals for each high-value item, high-value programs include much higher limits and more flexibility.
For example:
- Jewelry, fine art, and collectibles are covered with higher automatic sub-limits.
- Some insurers, like Chubb, even offer blanket coverage for valuable articles (such as an entire collection of luxury watches) without requiring an appraisal for every item.
- Coverage can be tailored for specific categories—whether art, antiques, wine, or other collections so that your assets are fully protected.
Are there any discounts available on ICBC auto insurance?
Yes, drivers can take advantage of several ICBC discounts such as good driving record, safe driver discount and low-risk vehicle discount.
Can I switch between ICBC auto coverage plans?
Yes, you can switch between ICBC auto insurance plans at any time. However, you may incur additional charges or fees if you want to make changes to your existing policy. Read more: https://www.icbc.com/insurance/Pages/FAQs.aspx
Can the policy be transferred to a family member?
Yes! If you transfer ownership to any of your immediate family members mid-term, your policy can be transferred to the new owner. The recipient of your vehicle would keep the same policy number, effective and expiry date.
Can the policy be transferred to a new vehicle?
Yes! If you purchase a new vehicle while mid-term in your current policy, we can process a transfer of the policy to your new vehicle. This will generate a new policy, with a new policy number, effective and expiry date. Any unused portion of the premium for your previous policy can be applied to the new insurance premium as transfer credit.
Do I have to buy New Vehicle Replacement insurance when I buy my car, or can I get it later on?
Our unique eligibility guidelines allow for any vehicle that is 5 years old or newer to qualify for New Car Replacement coverage. That means you are not required to have just recently purchased your vehicle to qualify and can purchase a policy any time between your vehicle being brand new, and 5 model years old. There is also no kilometre restriction, just as long as your vehicle has not been driven on average more than 40,000 km a year since it was new.
Do I have to buy the same vehicle as I had previously?
No, after a total loss you are not required to buy the same vehicle as you had previously. You are more than welcome to choose a different or better vehicle, or even take the cash settlement if you’d like, however we will only pay up to the replacement value of the same make, model, and trim package as the vehicle that you had previously. It will be in the most current model year.
What kind of coverage does international business insurance offer?
International business insurance can provide a range of coverage, including property insurance, liability insurance, commercial auto insurance, and workers' compensation insurance. It can also provide coverage for political risk, kidnap and ransom, and other specialized risks.
Who needs international business insurance?
Any business that operates internationally should consider getting international business insurance. This can include businesses that have overseas offices, employees who travel internationally, or those that conduct business with clients overseas.
What is international business insurance?
International business insurance is a type of insurance that provides coverage for businesses that operate internationally. This can include coverage for property, liability, and other risks associated with conducting business abroad.
What happens if the principal fails to fulfill their obligation?
If the principal fails to fulfill their obligation, the surety company steps in and pays the damages up to the bond amount. The principal then has to reimburse the surety company for the payment made.
Can I cancel my surety bond?
Yes, you can cancel your surety bond, but you need to give a written notice to the obligee and the surety company. The cancellation terms and conditions are usually specified in the bond agreement.
How long does it take to get a surety bond?
The processing time for a surety bond application varies depending on the type of bond, the obligee's requirements, and the complexity of the obligation. Generally, it takes a few days to a week to get a surety bond.
Can I utilize the cash value in my Permanent Life Insurance policy to cover premiums?
Yes, one of the benefits of Permanent Life Insurance is the ability to use the accumulated cash value to pay premiums. As the policy builds cash value over time, you may have the option to tap into this value to offset premium payments. This feature provides flexibility and can help ensure that your policy remains in force even if you encounter financial challenges. However, it's important to understand the implications of utilizing the cash value, such as potential impacts on the death benefit and policy performance.
How do I select the ideal Permanent Life Insurance policy and insurer?
Choosing the right Permanent Life Insurance policy and insurer requires careful consideration. Start by assessing your long-term financial goals and protection needs. Consider factors such as the coverage amount, premium affordability, policy features, and customer service reputation of the insurer.
Can I transfer my Permanent Life Insurance policy to another person?
Permanent life insurance policies are generally non-transferable. The policy owner and the insured individual are typically the same person. However, you may have the option to change the policy's ownership or beneficiary designation, allowing you to transfer the benefits to another person or entity.
It is crucial to carefully review the terms of your policy contract and seek guidance from our agents regarding any potential transfers.
Are there any medical exams required to qualify for Permanent Life Insurance?
The medical exam requirements for permanent life insurance vary depending on factors such as your age, coverage amount, and the insurance company's underwriting guidelines. Generally, larger coverage amounts may require a medical exam, which typically includes a physical assessment, blood tests, and medical history review.
Is Permanent Life Insurance suitable for retirement planning?
Yes, permanent life insurance can be a valuable component of retirement planning. It provides lifelong coverage and builds cash value over time, which can be used to supplement retirement income or cover expenses during retirement. The cash value growth in permanent life insurance is tax-deferred, allowing for the potential accumulation of funds that can be accessed in retirement.
Can I convert my Term Life Insurance policy into Permanent Life Insurance?
Most term life insurance policies offer the option to convert to a permanent life insurance policy within a specified timeframe. This allows you to transition from temporary coverage to lifelong protection without the need for a new medical exam. It's important to review your policy terms and conditions to determine if conversion is available and understand any associated costs or limitations.
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.
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