DEEP COVE INSURANCE
Fawcett InsuranceAre you covered? We make sure!
Home Owners Insurance
Home insurance covers;
- Dwelling Building,
- Detached Private Structures (garages, sheds, gazebos, etc.),
- Personal Property (contents),
- Additional Living Expenses (when the home is uninhabitable due to a claim) and
- Personal Liability on premises and worldwide for unintentional bodily injury or property damage, including legal costs for investigation, defense, settlement, appeals and court costs.
Coverage for the dwelling is often provided on a Guaranteed Replacement Basis, meaning that you are insured for the repair or restoration without any deduction for depreciation in value.
When determining the coverage limit an evaluation is done for the structure factoring in the costs for materials, labour, equipment, debris removal and by-law upgrades (the cost to rebuild to current construction requirements or zoning codes).
All other coverage for property is based on a percentage of the calculated dwelling replacement value. Personal property is provided on a Replacement basis, meaning "new for old" for most items with specific limit for property that is a higher risk for loss (ie: jewellery, bicycles, collectibles) requiring additional coverage.
Many discounts are available such as:
- Claims Free (3 years of insurance claims free),
- Maturity (persons over 50 years old),
- Mortgage Free (no mortgages or secured lines of credit),
- Burglar & Fire Alarm (local and monitored),
- Multi-Line (carrying multiple locations with the same insurer)
- and Credit Check (soft).
Do I need home insurance in British Columbia?
Home insurance is not required by law in British Columbia, but virtually every mortgage lender requires it as a condition of financing. Beyond the lender requirement, a homeowners policy covers the structure, your belongings, additional living expenses if the home becomes unliveable, and personal liability. Fawcett Insurance in North Vancouver quotes homeowners coverage across multiple insurers through the InsureBC Group.
How much is home insurance in North Vancouver?
Home insurance premiums on the North Shore depend on the rebuild cost of the home, its age, roof and wiring, distance to a fire hall, claims history, and your coverage limits and deductible. North Vancouver properties are also rated for local exposures such as slope, wildfire interface near Seymour, and water and sewer backup. Because rates vary widely between insurers, a broker quote comparison is the only reliable way to get a real number. Fawcett Insurance provides free estimates at 604-929-3494.
What insurance do I need if I own a condo or townhouse in BC?
Strata owners need their own condo policy even though the strata corporation insures the building. The strata policy covers common property and the original standard unit; your personal policy covers your contents, upgrades and betterments, personal liability, additional living expenses, and — importantly — your share of the strata's deductible if a loss originates in your unit. Strata deductibles in BC can run into the tens of thousands, so deductible assessment coverage matters. Fawcett Insurance writes condo and townhouse policies throughout North Vancouver.
What insurance do I need as a landlord in BC?
A standard homeowners or condo policy does not cover a property you rent out. Landlords need a rental dwelling policy, which covers the building, loss of rental income while the property is being repaired, and landlord liability. Rental condo owners need an equivalent policy covering their unit, contents left for tenants, and their share of the strata deductible. Fawcett Insurance writes both rental home and rental condo policies in North Vancouver.
What is the difference between an insurance broker and an insurance company?
An insurance company underwrites and issues policies. An insurance broker is licensed to shop multiple companies on your behalf, compare coverage and pricing, and advocate for you at claim time. Fawcett Insurance is a brokerage, and its membership in the InsureBC Group gives it access to every insurance company operating in British Columbia rather than a single insurer's products.
Can Fawcett Insurance bundle my home and auto insurance?
Yes. Because Fawcett Insurance is a broker with access to multiple insurers, home, condo, tenant, auto, boat and business policies can be reviewed together, and most insurers offer multi-policy discounts when home and optional auto coverage are placed with the same company. A single review can also identify gaps and overlapping coverage. Call 604-929-3494 for a free comparison.