Business insurance: FAQ from business owners in Vancouver & BC

Business insurance is one of the key types of policies offered by Habitat Insurance Agencies.  We receive calls on a daily basis from established business owners and people who are just starting new businesses requesting quotes and information about business insurance coverage.  Below are some of the most frequently asked questions (along with our answers) […]

Short-term rentals and home insurance: the potential pitfalls

With the advent of websites such as Airbnb and VRBO for short-term rentals, many property owners are taking the opportunity to generate extra income by renting out their homes to visitors. Sounds like a great idea. Unless you are like the unfortunate Calgary couple whose home suffered approximately $150,000 damage last week during a “drug-fueled […]

The challenges of insuring older apartment buildings in BC

We are often asked at Habitat Insurance Agencies to quote on insurance for pre-1960s apartment buildings in British Columbia. During the last few years we have seen significant increases in insurance rates for older buildings, much to the chagrin of building owners or buyers who are looking for competitive quotes. Additionally, fewer companies are willing […]

Tenants’ insurance: must-have coverage for responsible renters

If you rent a condo, apartment or house, don’t make the mistake that many renters do by not having tenants’ insurance. Often renters don’t worry about getting insurance because they feel that their personal belongings aren’t valuable enough to warrant insuring them. The key point to remember is that tenants’ insurance covers far more than […]

Strata insurance in BC: rising rates and what you can do

Significant increases to insurance rates have been a common scenario that many strata councils and apartment building owners in British Columbia have had to contend with since 2012.  There are two primary reasons for the substantial upswing in insurance rates:  Rising claim costs:  insurance rates for stratas are not keeping up with rising claim costs, […]

New BC Tribunal for Strata Property Disputes and Small Claims Matters

Under BC’s new Civil Resolution Tribunal Act, a new dispute resolution and adjudicative body, the Civil Resolution Tribunal, which has authority to hear some strata property disputes and, where the parties agree, small claims matters will begin operations in 2014, according to BC’s Ministry of Justice. The new Civil Resolution Tribunal will provide an alternative […]

Beware of Buying Flood-Damaged Vehicles

Found a great deal on a car?  The Insurance Bureau of Canada (IBC) warns Canadians to avoid unknowingly purchasing storm-damaged vehicles.  After flooding disasters, such as those that occurred in Alberta and Ontario in 2013,  there are attempts by fraudsters to clean up and resell flood-damaged vehicles. Canadians should be cautious when a deal seems […]

Automobile theft in Canada: how you can help prevent it

According to the Insurance Bureau of Canada, automobile theft costs Canadians every year close to $1-billion, including $542-million for insurers to fix or replace stolen cars, $250 million-in police, health-care and court-system costs and millions more for correctional services. Tips to help stop car theft: Always roll up your car windows, lock the doors and […]

Just because the numbers say you can, doesn’t mean you can afford it!

With interest rates continuing to hold steady at record lows in Canada, many prospective buyers remain confident in purchasing homes and condos.  Today’s guest blogger, mortgage broker Marci Deane, provides some insight into determing the mortgage you can best afford. While most of us have a basic knowledge of our monthly expenditures, others need to explore […]

Flood insurance in BC: what you need to know

Homes threatened in Fraser Valley & Kamloops As water levels continue to rise on the Fraser River on Thursday, and with more rain predicted for the weekend, communities in the Fraser Valley, Hope, and Kamloops areas brace themselves for potential flooding.  On many homeowners’ minds is the question: “Does my house insurance cover me for […]

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