Buying a home is a testimony of a massive milestone in an individual’s life. And that’s true that you’ll do everything in your power to keep it in a well-maintained and excellent condition.
Home insurance happens to be one of the best solutions in that context. It provides risk coverage to the property in the event of unexpected and unfortunate incidents caused by burglary, natural factors, fire, etc. In addition, it also safeguards the homeowners against financial crunch, which could result from damage or loss.
But the important catch here is to find BC home insurance brokers that could help you find the best home insurance deals and insurance companies.
Keep reading to learn about the most reliable home insurance companies BC has to offer.
Things to consider when looking for a home insurance company in Canada
Here are the top things to consider when looking for a home insurance company in Canada:
- Coverage options: Make sure the company offers the coverage options you need, such as liability, theft, and natural disaster coverage.
- Premium amount: Compare the premiums offered by different insurance companies to find the most affordable option.
- Deductibles: Consider the amount you would have to pay in case of a claim and how it fits into your budget.
- Claims process: Ensure the claims process is easy to understand and the company has a good reputation for handling claims fairly.
- Customer service: Look for the most reputable home insurance companies BC has to offer with responsive and helpful customer service, available 24/7.
- Additional coverage: Look for a company that offers additional coverage options, such as flood or earthquake insurance, if you live in an area prone to these disasters.
- Reputation: Check the company’s reputation by reading reviews and customer feedback. It is best to visit their website and check testimonials and ratings given by the company’s previous clients.
Top home insurance companies in BC — An in-depth list for homeowners in British Columbia
Listed below are the most reputed companies that provide home insurance in British Columbia.
1. SGI Canada
SGI is known for offering competitive property insurance products. With over 2,000 employees and 300+ independent insurance brokers, the company stands as one of Canada’s most recognized insurance providers. The insurance products are distributed through the parent company and its multiple subsidiaries.
It currently is among the top BC home insurance companies, and it provides services in 5 provinces, including British Columbia, Ontario, Saskatchewan, Manitoba, and Alberta. Their house insurance plans not only provide cover for the home, garage, gazebo, shed, etc.
They also provide protection and cover for the yard and belongings in the home. In addition, their plans also provide coverage for Home Systems Protection, Water Protection Coverage, Service Line Coverage, and Sewer Back up Coverage.
Aviva ranks in 12th position among the top home insurance companies BC has to offer. One of the major reasons behind the huge success of this company is the attractive discount offers provided along with their different coverage and policies.
They also facilitate their clients with additional coverage of flood overland, sewer back-up, service line, identity theft, and more which in turn benefits individuals with an increased discount on their deductible.
The company’s comprehensive home insurance coverage protects the individual’s home and belongings from unfortunate and unexpected events.The unique part is that their home insurance helps the policyholder pay for the legal costs in case they are sued for unintentionally damaging a third party’s property.
3. Wawanesa Insurance
Wawanesa is one of Canada’s best home insurance companies, offering insurance coverage for tenants, homes, farms, and condos. Their basic coverage includes damage to the property by water, fire, vandalism, hail, lightning, wind, explosion, glass breakage, theft, and impact by a vehicle.
Their home insurance policy also protects the policyholder’s belongings. In addition, individuals are also facilitated with living expenses if they are displaced due to damage or loss of their property (or any other covered loss). The policy also covers medical expenses if a guest or visitor is hurt on your property.
4. GORE Mutual Insurance Company
The company is known for offering the best home insurance plan that provides cover for the property and facilitates individuals with optional add-ons for additional protection. Their policies help homeowners to pay for replacement or repair costs of the damaged property in case of loss occurs because of a covered event. Additional coverage is provided for:
- Personal liability
- Identity theft
- Other home property structure features include a detached garage, shed, or gazebo.
- Damage occurred to the belongings such as furniture, appliances, and clothes.
It is one of the best home insurance companies in BC that also provides cover for additional expenses if the policyholder and their family need to leave their home due to a mandatory evacuation order or damage or loss of their covered asset.
5. Intact Insurance
Among BC’s top home insurance companies, Intact Insurance has a network of 6,000+ insurance brokers. Their home insurance policy is suitable for multiple conditions. It offers various selections, including condo insurance, cottage insurance, tenant’s Insurance, rented dwellings insurance, and home-based business insurance.
The company also covers outdoor structures, including a shed, garage, and gazebo. They also facilitate their clients with customized home insurance by facilitating their clients with programs and add-ons for special coverage.
Intact Insurance has earned a name in the market for providing 24/7 support for flawless claims experience. Homeowners can even bundle their car and house insurance and reap the benefits of exclusive offers.
Home insurance companies BC — Endnote
Home insurance is mandatory for homeowners. It provides cover for various damages and losses such as theft, break-in, sewer back-up, damage to the property due to vandalism, hail, wind, or fire, etc.
You never know when an unfortunate incident could damage your house property partially or completely (this is one of the primary reasons why you need to team up with one of the home insurance companies in BC).
Also, today most mortgage lenders prefer advancing mortgaging properties with home insurance. Most deductibles and policies can be tailored according to your specific needs. Fortunately, there are several options for home insurance companies. You can easily find one suiting your coverage requirements and budget.