In general, here’s what’s included for repairs and rebuild expenses when you have a claim.

• Site clean up and debris removal
• Construction and repair costs such as:
  • The home itself
  • The home’s systems such as electrical, heating/cooling and plumbing
  • Finishings such as flooring, counter tops, paint, or wallpaper, doors, carpets and more
• Landscaping and fencing

Guaranteed Replacement Cost coverage (GRC) ensures that your home is repaired or rebuilt even if the amount of insurance coverage stated on the policy is exceeded. This coverage is intended to repair or rebuild with no depreciation. This will protect you from rising reconstruction costs.

Outbuildings may be as complex as a heated green house or as simple as a garden shed. Sometimes outbuildings are so significant they require additional insurance to insure them fully.

• Higher coverage limits are available if needed to insure for full replacement
• Coverage is usually a small percentage of your building coverage outlined on your insurance policy
• Coverage includes repair or replacement in the event of a covered claim
• Personal Property kept inside these structures is included under your Personal Property coverage

This coverage is intended to replace new for old for most common household and personal items.

Your Personal Property can include things such as:

• Furniture, clothes, plates, pots and pans, food, electronics, jewellery, bikes, plants
• Appliances, including the BBQ
• Outdoor furniture and garden tools
• Some items such as jewellery, bicycles or wine have maximum coverage limits, but they usually can be scheduled to the full replacement value for additional premium

You will continue to pay your normal monthly living costs; Additional Living Expenses will add the difference to those normal everyday costs.

• Typical costs covered include moving expenses, additional rent, damage deposits, and in certain cases meals and costs to set up your new temporary living situation
• Coverage can be short or long term depending on the claim
• Coverage limit provided is usually a percentage of the building coverage outlined on your insurance policy

If you have disclosed to the insurer and purchased the appropriate rental income coverage for your rental suite, the insurer will compensate for your loss of rental income should your tenant have to move out. Coverage is usually provided until the suite is repaired and ready for occupancy.

Coverage provides defense and settlement costs if you are deemed legally responsible for the loss. Your liability coverage includes property damage and personal liability protection.

• Personal liability will provide you and the covered residents financial protection for claims of bodily injury and property damage.
  • For example, if someone slips on the stairs, or driveway, you could be deemed legally responsible for their injuries and associated costs
  • Or, if you are riding a bicycle and accidentally hit someone or something, you could be sued for damages and your personal liability insurance would respond
• Liability claims are complicated and can be lengthy, but the insurer will help you through the process
• If you have liability exposures in your home such as a home based business, swimming pool, or trampoline you must disclose these to your insurer to ensure that you are properly covered

Sewer Back-Up coverage will clean up and fix resulting damage including:

• Clean up of grey and black water damaged areas
• Removal and disposal of damaged materials
• Repair and rebuild costs to make you whole again

Coverage will usually include damage from:

• Rising waters from fresh water sources that enter at ground level through windows or doors
• Rain water, runoff and melting snow or ice
• Rivers/lakes that overflow their banks
• Coverage can vary from insurer to insurer so it is important to speak with your broker about your coverage needs

Every policy will vary. However, in general, there is no coverage for salt water flooding including tsunamis, waves or tidal waves. This is not available on most residential policies.

If you have this coverage, in addition to the resulting damage, the insurer will provide payment for losses and repairs up to the policy limit. If you are unable to live in your home during repairs the insurer will provide coverage for Additional Living Expenses while your home is being repaired.

Earthquake insurance protects you for:

• Building – Total and partial losses that require repair or rebuild
• Personal Property – Your Personal Property is protected as well when damaged by an earthquake
• Additional Living Expenses – Coverage for Additional Living Expenses while your home is being repaired or rebuilt

This is optional coverage and is subject to percentage deductibles. They are usually in the range of 5-25% calculated on the coverage limits of your building, out building and personal property amount. Earthquake deductibles vary depending on where you live in BC based on your community’s earthquake exposure.

• Coverage can include protection for addressing bylaw changes. Often these changes lead to an increase in the cost of repair or upgrading. Bylaws coverage limits vary by insurer, and most policies provide basic limits that may leave gaps in your coverage
• Building Bylaws coverage is intended to cover the increased construction costs required to bring your home up to code such as interior fire sprinklers, electrical outlets, widening of doors and interior hallways
• Most policies come with a base limit of coverage for building bylaws but can usually be increased for additional premium