Compare the best Burnaby home insurance quotes & save today

The cost of home insurance varies by property type and location. In Burnaby, an average house is about $75 per month, insurance for a condo is about $30 per month, and apartment insurance will be about $15 per month. However, condo insurance, especially in BC, is on the rise with more buildings being built and rising claim volumes in older buildings leading the charge.  

In all of the different coverages, there are some things that are excluded from policies. They are mostly due to wear and tear that gets worse due to negligence. For instance, Mold is seen as a lack of maintenance from a homeowner. If a home insurance claim could have been avoided with regular maintenance, you can expect it to not be covered.

Other common exclusions include infestations from termites or rats, dangerous pets, and floods. If you run a business out of your home, you may need business insurance. 

Earthquake insurance may be required in BC, depending on your area, but is typically an add-on. 

Yes, if you’re unhappy with your rate or customer service, feel free to move on. However, before you do, it’s important to compare home insurance quotes, select your new provider, inform your old provider and ensure there are no coverage gaps while you transfer.

Unlike car insurance, where age and gender can play a role in determining your rate, home insurance only cares about the home itself. You can get married, share the home with your new spouse, and even add children if you want to and it won’t affect the rate you pay.

A home insurance peril is an unknown or accidental event. For instance, if your home is struck and damaged by lightning, creating a hole in your roof, there is no way you could have prevented it. But a home insurance policy is not a maintenance plan so if your roof has slowly degraded over time and now needs replacing, it is not a peril since its eventual replacement is expected.

Begin by making a complete list of damaged or stolen items. Call your insurance provider as soon as you can and ask about what you’re entitled to, especially if you can’t currently live in your home as you may be entitled to hotel and food expenses. A claims adjuster will be in contact with you to fill out a proof of loss form. Ask about using your own contractor or if you’re required to use one they supply to repair the property.

A deductible is the portion of the claim you’re responsible for paying before the insurance company will pay the rest. The higher your deductible, the cheaper your insurance premiums.