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Explaining increases in insurance rates and premiums is one of the most common requests from clients to insurance brokers.  There are various factors that influence insurance rates and premiums, some of which can be controlled by the insured person or business, and others that are determined by external factors. Factors that may be controlled by […]

About 200 electrical fires occur per year in buildings in BC, often causing devastating or total losses for owners and tenants.  These losses typically result in higher home insurance premiums for these individual owners and also indirectly impact insurance rates for all property owners. As buildings age, the risk of fire increases, with a disproportionate […]

The images of riots in England and Vancouver during the summer of 2011 still remain fresh on many people’s minds.  Total damage and losses:  approximately $5-million in Vancouver, and a staggering $150-million in the UK.  Here’s how, you, as a business, home, or car owner can mitigate the pain of a loss with appropriate insurance […]

Landlords in British Columbia and insurance companies have had to face the consequences of surging marijuana cultivation in the province in recent years.  As insurance companies minimize their exposure by excluding coverage linked to direct or indirect damage caused by marijuana cultivation, property owners must take defensive measures to protect their homes and properties from […]

The images of devastating earthquakes in New Zealand and Japan in 2011 have shocked people worldwide.  Closer to home, many British Columbians have paused to consider the potential damage an earthquake could cause in the region.  And with good reason. You need Earthquake Insurance more than you think. According to the Geological Survey of Canada, […]

House Insurance Replacement Cost Vancouver One of the areas of house insurance which leads to some confusion for homeowners is insuring to “replacement cost”, which is the industry standard to which all homes must be insured. Let’s start off by explaining what insurance replacement cost for a house is not: A house’s replacement cost is […]

Have you ever wondered which cars are most frequently stolen in Canada? According to the Insurance Bureau of Canada (IBC) these are the top 10 stolen cars targeted by thieves in 2010: 1.     2000 Honda Civic SiR 2-door 2.     1999 Honda Civic SiR 2-door 3.     2002 Cadillac Escalade 4-door 4WD 4.     2004 Cadillac Escalade 4-door […]

With the onset of winter weather in British Columbia, a spike in water damage and sewer back up insurance claims is invariably expected. According to the Insurance Bureau of Canada, “Damage from water damage and sewer back-ups is costly for homeowners, municipalities and insurance companies. In an average year, the Canadian insurance industry pays $1.32 […]

Determining what types of business insurance you need can be confusing for even the most experienced business owner.  A good way to start is to understand the fundamental basics of what is covered by business insurance:  property, liability, income, and people. 1.    Property: As a business owner, you need to insure the business property that […]

House insurance is often one of the last things that buyers consider when they are caught up in the process of finalizing the purchase of a home. And yet, failing to meet insurance requirements is one of the most common ways to delay or fail to close a deal. Buyers of detached homes in particular […]