Living in one of the most beautiful provinces in the country has its perks. With a population of over 4.5 million people, it’s no wonder Canadians flock to British Columbia given its diversity and rugged vibrancy. Every homeowner has different living preferences, and it’s important that their home insurance reflect that. That’s why Megson FitzPatrick provides residential coverage specialized to suit your needs.
Megson FitzPatrick’s insurance services will work with you to find you the best rates and ensure that you aren’t paying for anything that you don’t need. We can provide you with a quick home insurance quote so that you can get started on figuring out your personalized policy in no time flat.
Megson FitzPatrick Offers the Best Home Insurance Coverage
In order to maintain your peace of mind, home insurance provides you with coverage that is right for you. Our home insurance brokers will be able to work with you in order to determine what’s best for your home and lifestyle. We are available to discuss your policy limits and additional coverage options, based on your budget, needs, location, and home.
As a proudly independent insurance broker, Megson FitzPatrick knows that your home and assets are important to you. An asset for being an independent broker is that they work with many insurance companies. That allows your broker to really find the best coverage at the best price. You get choice and competition.
We’re dedicating to providing you personalized and innovative insurance with risk management solutions to protect you and your property, so you don’t have to worry.
Best Home Insurance Quotes
It’s the question on everyone’s mind – “how do I get the best home insurance rates?” There are a number of factors which go into determining home insurance rates in British Columbia, including:
- Insurance and claims history
- Where you live (the weather and crime rates in your area)
- Your home’s age
- The build and features of your home
- Your coverage and deductible options
It’s important to be aware of these factors in order to start saving on your home insurance. Here are a few ways you can do that:
- Be honest with your insurance provider. What condition is your home in? When was it built? Do you have security devices installed? Dishonesty can result in your home insurance policy being voided or claims being denied.
- Good maintenance and renovating aspects of your home that require updating are the best ways to save money on your home insurance premiums.
- Bundle your auto and home insurance. You’re more likely to receive discounts when you use the same company for both your car and home insurance – and some companies reward policy owners who have been with them for a long time.
- Keep a good credit record. This makes you more attractive to ensure, and you might be eligible for discounts as a result. Try to ensure that your credit record is kept in check regularly and that all errors are remedied as quickly as possible.
- Re-evaluate your coverage annually. Your insurance should reflect what your home’s present value and condition is, especially if you’ve made any improvements or additional purchases.
- Don’t submit a claim unless it’s necessary. If you can afford to fix the damage yourself or it’s not much more than your deductible, it’s better in the long run to not submit a claim.
- Stay insured. Insurance companies reward customers who have insurance history
- Install mitigation devices such as security alarms, sump pumps, water alarms, and sewer backup valves. Some insurers offer discounts if you have these items or provide incentives for you to install them after a covered loss.
- Discuss your options with a home insurance broker. They can find you the best prices because they work with a variety of companies. They’ll also help you choose the best coverage based on your needs and budget.
Types of Coverage Available
Coverage for home insurance will always vary by your insurance provider. Basic home insurance will generally cover your home, outbuildings, and belongings from perils like fire, storm, wind, hail and theft. This also includes coverage for any evacuation expenses, food spoilage, lock replacement, additional living expenses, and identity theft.
You want what coverage protects your home best, and so a basic home insurance policy might not suit your needs. That’s alright – there’s a wide range of many additional coverage options known as ‘endorsements’ which can provide protection for belongings and certain types of damage which wouldn’t be ordinarily covered by your home insurance policy. Other policies can cover the costs you might come across while rebuilding or repairing your home after a loss. Some of these add-ons are:
- Bylaw coverages – Covers bringing your home up to code after an insured loss. More and more, this is being included in basic home insurance coverage
- Fair rental value – If you rent your home or rent out a room in your home, you’re eligible for lost income coverage in the event of an insured loss or an evacuation.
- Glass repair and replacement – Repairs or replacement to glass doors and windows. Often included in basic coverage
- Overland water coverage – This covers “overland” water damage, such as a flood. Generally, this is the overflow of any fresh body of water or due to rapid accumulation of rain or snowmelt.
- Collector coverage – If you have a special collection like coins or comic books, this coverage will ensure it’s protected.
- Vacant home coverage – If you’re leaving your home vacant for some time, you’ll need this home insurance coverage.
- Storage coverage – If you have items in storage, this add-on will extend your home insurance coverage to insure those items.
- Service line repair or replacement – Did you know that homeowners are financially responsible for replacement or repairing service lines on their property? This can include sewer and water lines, internet and power cables, as well as irrigation. This coverage will help you cover those expenses.
- Personal floaters coverage – For high value belongings, such as bicycles, jewellery, artwork and more.
- Sewer backup coverage – This can cover the cost of having to repair your home from water being pushed into your house through your drainage system or pipes from the sewer.
- Identity theft coverage – For if you are the victim of identity theft, this protection policy can reimburse you for any costs involved in reclaiming financial identity and repairing credit reports.
The west coast of Canada has been known to experience a high number of earthquakes. British Columbia is anticipated to have a large earthquake within the next five decades – so what does that mean for your home insurance? Most home insurance does not cover earthquakes, but you can get protection through an endorsement.
Earthquake coverage works to protect your home, other structures and personal belongings from damages in the event of an earthquake. This includes associated shocks within a period of time, but also resulting landslides, avalanches, volcanic eruptions and other earth movements as a result of the earthquake.
Tsunamis, flood, wave, or other damages are not covered by this endorsement. Hail, rain, wind and snow are as long as the earthquake caused your home to be vulnerable first. This type of damage would also be covered under your regular home insurance. However, it can get complicated if an earthquake occurs, causes damage, which in turn worsens the damage from a storm. That’s why it’s important to have earthquake coverage.</
The premium for earthquake coverage is based on risk, but is normally affordable. The higher risk you are for an earthquake, the higher the premium will be.
Areas We Serve
- Campbell River
- Cordova Bay
- Dawson Creek
- Fort St. John
- Gulf Islands
- Oak Bay
- Port Alberni
- Powell River
- Prince George
- Prince Rupert
- Salmon Arm
- View Royal
- White Rock
At Megson FitzPatrick, we want to help you get back to your normal, no matter what that is. Get started with us today with your free home insurance quote!