Protect Your Home with the Right Insurance
Your home is your castle. It’s likely the biggest investment you’ll ever make.
Not having home insurance leaves you exposed to a high level of financial risk, including paying out of pocket for repairs or replacements if uninsured damage occurs. Protect your investment with home insurance that’s right for you.
Home insurance protects your walls, roof, windows, and everything inside your home, as well as detached structures like sheds or garages, in the event of fire, theft, vandalism, or weather-related damage.
Your Western Coast home insurance expert will review the details of your policy to ensure you have the right coverages for your situation.
What does home insurance cover?
Home insurance covers damage to the exterior and interior of your house caused by theft, vandalism, fire, lightning, and other insured events outlined in your policy.
Items stolen from your car or truck are typically covered under your home insurance policy.
If a fire starts in your home and spreads to a neighbour’s house, damage to their property would generally be covered under your home insurance liability coverage.
Home insurance also includes personal liability protection for accidents that occur inside your home or on your property.
Western Coast home insurance policies typically start with $2 million in liability protection, with options to increase coverage up to $3 million.
Who is covered under a home insurance policy?
Home insurance provides personal property and liability coverage for you, your partner, and your children living in the household.
Do I have to get home insurance?
In Canada, home insurance is not legally required if your home is fully paid off. However, mortgage lenders require home insurance before approving a loan.
Without insurance, you are personally responsible for the full cost of repairs or replacing stolen or damaged property.
Home insurance is about protecting your investment. A Western Coast insurance expert can help you secure coverage whether you already own your home or are in the process of buying.
What is replacement cost coverage?
Western Coast home insurance uses replacement cost coverage for contents — meaning “new for old.” For example, a 10-year-old sofa would be replaced with a new one of similar quality after a covered loss.
Your home should be insured to 100% of its replacement value.
It’s important to understand the difference between market value and replacement cost. Market value reflects what your home could sell for, including land. Replacement cost covers the cost to rebuild the structure only.
For example, your home might sell for $650,000 but cost $500,000 to rebuild.
What is not covered by home insurance?
Predictable events and maintenance-related issues are not covered by your home insurance policy.
Damage that could have been prevented through proper maintenance is typically excluded. Anything not specifically listed in your policy is not covered, so additional coverage may need to be added.
What is a deductible?
Your deductible is the amount you pay out of pocket when you file a claim. Your insurer covers the remaining costs up to your policy limit.
Knowing your deductible amount is important when choosing a home insurance policy.
What extra coverages can I add?
Earthquake coverage: Western Coast offers solutions to reduce high earthquake deductibles — often 10% of building value — down to 5% or even 2% with a small premium increase.
Equipment breakdown coverage: Covers household appliances such as washers, dryers, refrigerators, freezers, and dishwashers.
Additional living expenses: Increasing this coverage can help pay for hotels and meals if you’re displaced after an insured loss.
What is overland water coverage?
Western Coast offers additional protection for overland water damage — when water enters your home through ground-level doors, windows, or openings.
Overland water is not included in a standard home insurance policy. With coverage added, repairs to your home and contents may be covered, minus your deductible.
Overland water coverage does not include saltwater flooding such as coastal flooding, tsunamis, or tidal waves.
What discounts could I get?
Discounts may be available if your home has a monitored alarm system.
Additional savings may apply if you’re over 45, mortgage-free, claims-free, or own a newer home (up to 20 years old).
How much is home insurance?
The cost of home insurance varies based on location, property type, crime rates, and whether you live in a city or rural area.
Premiums may also increase over time due to inflation and the age of your home.
Protect your home
Fill out our FAST Path Form in one minute and a Western Coast home insurance expert will contact you shortly. Our experts are available in branch or by phone to help you choose the right home insurance policy for your needs.
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Western Coast Insurance Services Ltd. is a wholly owned division of Western Financial Group Ltd. Insurance products are underwritten by certain licensed insurance companies and are only available throughout British Columbia, Canada.