British Columbia has several great insurance companies, like Travelers Canada, Cansure, Peace Hills, Wawanesa, & Aviva. These are companies that are always improving their standards and customer satisfaction goals. What may be a great fit for one person, will often not be the best fit for another. Insurance companies all have a different ‘appetite’ for what type of risks they like to insure. This is why brokers like us are here to assist you and match your needs and circumstances with the right insurer.
For example, if you rent out your home or condo, your risks will be different than if you live in your home. We match this with companies that like to insure rentals. You will often see a lower premium, and less hassle when we can match you to the right insurer.
Some insurance companies have tighter restrictions on things like additional coverages such as sewer back up, earthquake protection, or flood. When choosing these coverages, we ensure that you are matched with a company that offers these coverages easily.
Several insurance companies will have a maximum limit on high value homes as the cost to rebuild such a home exceeds what they are willing or able to pay for. Other companies will seek out high value homes as they can take on such a risk, and see them as less risky.
Typically, if your insurance has been cancelled by the insurance company you will find it difficult to find property insurance again. Since it is incredibly important to have insurance on your property, or sometimes required for a mortgage or by a landlord, we suggest ensuring that your past premiums are paid for entirely, and work to obtain insurance again. Sometimes you will see a surcharge or increased premiums for a while, however once you have remained insured again for some time, you will be able to shop around again for a lower premium and/or better coverage.
If you are ever unsure about your insurance needs, our AI agent is available to answer any general questions, and our brokers are a phone call away.
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Tenant insurance in Canada is an essential consideration for renters. It provides financial protection against loss or damage to personal belongings and liability coverage in case someone is injured on the property or if you cause damage to the building.
Tenant insurance, also known as renters’ insurance, is a policy designed to help protect individuals who rent their living space. Whether you’re in a house, apartment, or condo, tenant insurance can cover your personal belongings from risks like theft, fire, and water damage.
While your landlord’s policy covers the building, it does not extend to your personal items or liability. Tenant insurance ensures that you’re not out of pocket should your belongings be damaged or stolen. Additionally, it provides liability coverage which can protect you against legal and medical costs if someone is injured in your rental or if you accidentally cause significant damage2.
The cost of tenant insurance varies based on several factors, including the value of your belongings, the size of your rental unit, and the location. On average, you can expect to pay anywhere from $50 to $200 per month for a standard policy.
If you are ever unsure about your insurance needs, our AI agent is available to answer any general questions, and our brokers are a phone call away.
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Home insurance is a vital aspect of homeownership, providing financial protection against potential losses due to unforeseen events. However, the cost of premiums can be a significant expense. Here are ten strategies to help you save money on your home insurance without compromising on coverage.
1. Bundle Your Policies
Many insurers offer discounts if you bundle home insurance with other policies, such as auto insurance. This can lead to substantial savings.
2. Increase Your Deductible
Opting for a higher deductible can lower your premium costs. Just make sure you can afford the deductible in case of a claim.
3. Improve Home Security
Installing security systems, smoke detectors, and smart security can not only make your home safer but also qualify you for discounts on your insurance.
4. Maintain a Good Credit Score
Check with your broker if a credit discount has been applied. Credit scores can be used with your consent. It is a soft check that will not affect your score. A higher credit score can lead to lower rates.
5. Review Your Policy Annually
Your needs may change over time. Review your policy each year and adjust coverage accordingly to avoid overpaying.
6. Ask About Discounts
Don’t hesitate to ask your broker about any discounts you may be eligible for, such as being a non-smoker or a senior citizen.
7. Make Smart Home Improvements
Certain home improvements, like upgrading roof, plumbing or electrical systems, can reduce the risk of damage and lead to lower premiums.
8. Stay with the Same Insurer
Some companies offer loyalty discounts. If you’ve been with the same insurer for several years, you might be eligible for reduced rates.
9. Understand Your Policy
Knowing exactly what your policy covers can prevent you from paying for unnecessary extras. Tailor your coverage to your specific needs.
10. Purchase Your Insurance Early
Asking for an insurance quote ahead of time and purchasing the policy at least 8 days prior to the effective date may qualify you for a discount, depending on the insurance company.
By implementing these strategies, you can enjoy peace of mind knowing your home is protected while also keeping your finances in check.
If you are ever unsure about your insurance needs, our AI agent is available to answer any general questions, and our brokers are a phone call away.
Get your quote in 90 seconds here.
When it comes to protecting your condominium, understanding the ins and outs of condo insurance is crucial. Unlike traditional homeowners insurance, condo insurance must align with the unique aspects of condo living, where certain elements are covered by the condo corporation’s policy, and others fall under your personal policy.
Condo insurance is designed to cover what your condo association’s policy does not. This typically includes your personal belongings, liability, and often the interior structure of your unit. It’s important to differentiate between the two types of policies:
The amount of condo insurance you need depends on several factors:
Here’s a quick comparison of different coverage levels:
Condo insurance is an affordable way to protect your investment and peace of mind. Review your policy annually to ensure it keeps pace with any changes in your life or condo value. Remember, while your condo fees cover the insurance for common areas, only a personal condo insurance policy can fully protect your home and belongings.
If you are ever unsure about your insurance needs, our AI agent is available to answer any general questions, and our brokers are a phone call away.
Get your quote in 90 seconds here.
In the digital age, purchasing insurance online has become increasingly common. But with convenience comes the question of reliability. Is online insurance just as dependable as the traditional method? Let’s delve into the world of digital insurance policies to find out.
The Rise of Online Insurance
Online insurance companies have revolutionized the industry by offering quick, user-friendly, and often more affordable services.
Pros of Online Insurance
Convenience: Purchase coverage from the comfort of your home, anytime.Comparison: Easily compare policies to find the best rates and coverage.Transparency: Direct access to all policy details before you buy.Customer Reviews: Read experiences from other customers to gauge reliability.
Ensuring Reliability
To ensure you’re getting a reliable online insurance policy, consider the following tips:
Verify: Check the insurer’s licensing and standing with regulatory bodies. In Canada, this would be the insurance council of your province. The Bluecouch license can be found here.Understand: Fully comprehend the coverage details before purchasing.Support: Choose companies known for excellent customer support.
Online insurance can be just as reliable as traditional insurance, provided you do your due diligence. With the right precautions and knowledge, you can enjoy the benefits of digital insurance with confidence.
If you are ever unsure about your insurance needs, our AI agent is available to answer any general questions, and our brokers are a phone call away.
Get your quote in 90 seconds here.
Insurance is a very confusing thing to manage for the average person; after all, why should people know the difference between an actuary and an advisor? With this in mind, we at Bluecouch have created a detailed A to Z glossary on the ins and outs of the craft.
British Columbia has several great insurance companies, like Travelers Canada, Cansure, Peace Hills, Wawanesa, & Aviva. These are companies that are always improving their standards and customer satisfaction goals. What may be a great fit for one person, will often not be the best fit for another. Insurance companies all have a different ‘appetite’ for what type of risks they like to insure. This is why brokers like us are here to assist you and match your needs and circumstances with the right insurer.
Being a landlord comes with its share of responsibilities, and one crucial aspect that often gets overlooked is the necessity of requiring tenants to have insurance. Tenant insurance offers a myriad of benefits that not only protect the landlord but also ensure a smooth and hassle-free renting experience. In this article, we'll delve into the reasons why landlords should make tenant insurance a non-negotiable requirement.