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What our users say:

Excellent
Based on 331 reviews
June 22
Highly recommended
Excellent customer service. Was very patient and answer my customers toughly. Fo...
Karan Parmar
June 18
Chelsea was very helpful
Chelsea was very helpful, answered all my questions and set me up hassle free. S...
Chris
June 14
its the easiest thing in the world to…
its the easiest thing in the world to find insuance that isn't going to burn the...
ann watson
June 11
Very nice broker
Very nice broker. Good service. Found a great deal.
Meredith Berggren
June 5
Awesome work
wow what an awesome rep. He did up everything, extremely fast and was very under...
Delroy Paul
May 26
Quick service
Quick service, good price
dl
May 22
Imad Harrouk was great !
Imad Harrouk was great ! intelligent well spoken professional polite a perso...
james bannon
May 21
Imad Harrouk helped me get the best…
Imad Harrouk helped me get the best home and auto bundle insurance quote. He was...
Amanda Moskowitz
May 20
Excellent !!! Very competitive rates !!
Excellent customer services also they have very competitive rates !!
Eliza Gallant
May 18
I was treated fairly and walked through…
I was treated fairly and walked through my purchase.I enjoyed the agent was exce...
paul neville
May 17
Highly Recommended !
I spoke with Mr. Imad Harrouk of DirectRate for quotes on my car and condo insur...
HL
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 13
Amazing service
Amazing service, Sonia is patient and helpful. Can not complain. I am happy with...
Miroslav Adalbert Elias
May 12
Meghan Ford helped me and she was…
Meghan Ford helped me and she was amazing. I saved $160/month between home and a...
Bruce
May 11
Easy
Easy, clear and fast. Very effective.
Rene Izquierdo de la Cruz
May 6
Sonia was very helpful and nice…
Sonia was very helpful and nice throughout the whole process. She got me the bes...
Ali Al-Rubayee
May 6
I got a hassle-free quick quote from…
I got a hassle-free quick quote from good insurance companies. This site is very...
Sisil
May 6
Very friendly and professional
Very friendly and professional. She always try to help. Really appreciate.
Binod Shrestha
May 5
Imad was extremely helpful and patient…
Imad was extremely helpful and patient with all our requests. He listened to our...
Guy St-Pierre
May 5
He was so amazing
He was so amazing. He went out his way to help me. He deserves a raise Very po...
Shahin Abbaskhan
April 27
Great rates!
Ryan was very helpful and polite.He went all out to find me the best rate. He wa...
Linda Shelton
April 22
Wonderful experience!!!
My call started off with simple inquiries about the quote i recieved. I spoke wi...
emily murray
April 22
The service was excellent
The service was excellent. Emad provided awesome service for me.
John Bowden
April 19
Fast and professional customer service
Fast and professional customer service. All of my questions were answered and I...
P COSTANTINI
April 16
Chelsea was very helpful and a pleasant…
Chelsea was very helpful and a pleasant person to deal with.
Keith Tarala
April 16
Daina is very professional and very…
Daina is very professional and very helpful! Helped me find auto and home insura...
Mark
April 15
Amazing Service
Daina was amazing so quick and easy and explained everything so so well! I was ...
Tara Schaffner
March 30
You will be hard pressed to find an…
You will be hard pressed to find an online service as accurate, fast, and easy t...
Frederick Armentia

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When you find the best quote, secure your British Columbia home insurance rate by talking to a licensed broker or agent.

How we find you the best home insurance quotes in British Columbia.

Home insurance isn’t required by law in British Columbia, but it is recommended for homeowners and renters alike. The right insurance policy means you won’t have to worry about the expense when something unexpected affects your home. Home insurance covers fire, vandalism and the increasing impact of climate change, such as flooding. Different lenders offer different rates and different amounts of coverage, so doing a little comparison shopping is important. LowestRates.ca compares the market for you and connects you to brokers that can offer you a better rate.

We’ll try to answer some of the more pressing questions you might have about buying insurance home in British Columbia.

Outline of a house. Illustration.

See how much you could be saving on home insurance.

Type of homeLocationPrevious claimsLowest rateAverage rateSaved
Quote from July 24, 2021
Type of home
Detached 2,734 sq ft
Location
Vancouver
Previous claims
None
Lowest Rate
$63/mth
$756/yr
Average rate
$161/mth
$1,933/yr
Saved
$98/mth
61.00%
Quote from July 24, 2021
Type of home
Detached 1,346 sq ft
Location
Delta
Previous claims
None
Lowest Rate
$53/mth
$638/yr
Average rate
$91/mth
$1,091/yr
Saved
$38/mth
41.00%
 

Tips on how to lower the cost of your home insurance policy in British Columbia

Getting insurance for your home is easier than you think. To get the lowest rate possible, the Financial Consumer Agency of Canada recommends following these steps when shopping for home insurance.

Compare home insurance quotes from various providers.

Ask your broker or agent about bundling your home and car insurance policies.

Ask your broker or agent about which discounts you qualify for.

You might be able to further reduce your by increasing your deductible (the amount you pay toward a claim before your insurance kicks in) and by offering to pay your insurance bill annually instead of monthly.

Increasing your deductible is a great way to save on home insurance in the short term, just make sure you have money reserved for this purpose. Focusing on finding cheap quotes isn’t always a good idea. Having the right amount of coverage — now that should always be the goal.

Factors that determine your home insurance quote in British Columbia

Your home insurance policy will be customized to suit your needs and the property you’re insuring.

Home insurance premiums are determined by dwelling type (is it a single-detached home, a house with a basement tenant suite, or a condo?). Insurance companies also try to predict the kind and size of claim you might make in the future.

Here are some of the criteria insurance companies look at when calculating your premium.

  • The square footage of your home.
  • Contents and quality of construction.
  • The location of your home.
  • Distance to a fire hydrant.
  • Your insurance claims history.
  • The age of your roof.
  • Your home’s plumbing.
  • Your home’s electrical system.

What you need to know about home insurance in British Columbia.

 

What affects home insurance rates in British Columbia?

Your home insurance premium contributes to a pool of funds that other policyholders pay into. Your policy will help pay for replacement costs and additional living expenses. You will not receive the market value of your home, e.g. the total value of the land and house if you were to sell it. Home insurance covers the replacement cost of a house’s structure and its contents. It also covers personal liability in case someone injures themselves on your property, or you damage someone else’s property.

Premiums are calculated based on the risk factors associated with your home including:

  • The square footage of your home.
  • Contents and quality of construction.
  • The location of your home.
  • Distance to a fire hydrant.
  • Your claims history.
  • The age of your roof.
  • Plumbing.
  • Your home’s electrical system.

Risk factors in British Columbia

Natural disasters can occur at any time, so you should check that your policy addresses these two specific needs for British Columbia:

Earthquakes

B.C. is at a higher risk of experiencing earthquakes than other parts of Canada. Within B.C., Victoria and Vancouver are particularly vulnerable to a severe earthquake within the next 50 years, as both cities are situated on the edge of two major tectonic plates. Earthquakes cause shaking, which can impact the structure of your home as well as damage its contents. Loss or damage to your home due to an earthquake is not covered in regular insurance policies so it should be bought as an add-on.

Regions at highest risk: Offshore earthquakes are a frequent occurrence along B.C.’s coastline. The cities most likely to feel the impact of seismic activity include Prince Rupert in the north, as well as Nanaimo, Victoria, and Vancouver to the south.

Forest fires

Most policies cover fire damage from fire as long as there’s proof that it was not set intentionally. This includes wild fires and fires caused by natural disasters. Additional living expenses will also be covered in the event of a mandatory evacuation order.

Regions at highest risk: The number — and severity — of forest fires in B.C. is rising every year. The areas most vulnerable to fires are Vancouver Island, Kelowna and Penticton, due to their proximity to wooded areas.

What kind of coverage do you need in British Columbia?

There are several types of coverage to meet the specific needs of homeowners in BC; maybe you want full coverage or maybe you want something more economical. While it’s best to clarify the specifics with your insurance company, categories include:

Comprehensive or All Perils - This type of policy offers the most thorough coverage for the building and its contents, excluding optional coverage and predicted events which are not included. Condos and mobile homes need coverage specific to property type.

Basic or Named Perils - An economical option if you can cover some costs yourself in the case of damage or loss. This policy will cover only what is specifically stated within it.

Broad - A happy medium between a basic policy and a comprehensive policy, this covers the building and named contents or perils.

No-Frills - The option for homes that don’t meet the standards of most insurers, and require upgrades to physical problems.

Personal liability - If someone is injured on your property, and they’re not a resident, personal liability insurance will cover some damages. For example, a passerby slips because you have not yet shovelled the snow on your walkway.

Endorsements - These are additional or optional forms of coverage. Extra coverage is available for earthquakes and sewer backup coverage in low-lying areas. Depending on where you live and the structure of your home, earthquake coverage could cost between five and 50% of your premium.

Who regulates the home insurance industry in B.C.?

The Financial Institutions Commission (FICOM) is the government watchdog in charge of overseeing financial institutions operating in B.C. While the Insurance Council of British Columbia is responsible for licensing insurance agents and adjusters, FICOM is the regulatory body for insurance companies and also approves rate changes. Its website offers a breadth of information and links related to the insurance industry and resolving disputes.

What can you do to save on home insurance in B.C.?

Here are some things you can do that might lower the cost of your premium:

  • Increase your deductible, if you can afford to.
  • Install a theft alarm system and smoke detector.
  • Upgrade your electrical, heating and plumbing systems.
  • Protect your home from severe weather and water damage.
  • Ask your broker or agent for discounts.
  • Pay your premium annually instead of monthly.
  • Quit smoking for a lower risk of fires.
  • Insure your home for the cost to rebuild it, don’t overinsure it.
  • Bundle with your car insurance provider.
  • Compare home insurance rates from various providers.

What companies offer the best home insurance in B.C.?

The best home insurance provider for your neighbour may not be the best provider for you. Your house may have a rental unit in the basement, while the house next door’s unfinished basement is at risk of flooding during a storm. This is why it’s important to consider your specific needs and shop around. Look at the details and ask specific questions to ensure your policy covers your needs. Once you’re insured, make sure to keep your provider informed with an updated inventory of your belongings and their value, and any renovations you make to your home. This will ensure your premium and coverage directly relate to your needs. A few of the many companies that offer home insurance in British Columbia include:

  • TD Insurance
  • Intact Insurance
  • The Co-operators
  • belairdirect
  • BCAA

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