Home insurance.

Vancity offers home insurance through:

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Condo insurance

Condo insurance

Home insurance Tenant insurance

What does condo insurance cover?

If you're buying or already own a condo, townhouse or other strata unit, you may wonder why you might need condo insurance. After all, isn't insurance included in a strata fee?

Doesn’t my strata fee already include home insurance? While your strata may look after insurance for the buildings, common property, liability of the strata corporation, and the basic features of your unit — you need condo insurance coverage to insure your personal property, personal liability, unit improvements and other things. Here’s what your policy could include:

Personal property

Protects your personal belongings such as your clothes, furniture, appliances, electronics, and other valuable possessions from theft, fire, and other causes of loss. Coverage can be customized to better include certain possessions such as bikes and jewelry.

Bridging your strata insurance

In some cases where your strata needs you to pay a deductible, if you become responsible for shortfalls in the strata's policy or damage to common property, a condo insurance policy of your own may help you lower the burden. See example.

Natural disasters

Protection for losses due to forest fires, floods windstorms, hail and earthquakes. With the increase of natural disasters due to climate change, it’s more important than ever to consider coverage available to your area.

Liability coverage

Covers you for lawsuits due to accidental damage to other peoples’ property or unintentional injury to others you cause anywhere in the world.

Additional living expenses

Provides for temporary accommodation if you are unable to stay in your home due to damage that is covered by your policy.

Possessions in your car

Coverage for personal possessions stolen or damaged in a car or trunk break-in, no matter where your car was parked. Specific limits may apply.

Get a condo insurance quote

Why use an insurance brokerage?

Squamish Insurance, a Vancity company, is an insurance brokerage. To use their services, you don’t have to have your mortgage with Vancity and you don’t have to live in Squamish! Here are the benefits of choosing Squamish Insurance as your broker:

Multiple quotes in one place

A brokerage is different because Squamish Insurance reaches out to multiple insurance providers to find your match. They compare options from leading Canadian insurance markets to get you value and the coverage you need.

Completely online

From submitting forms, to virtual meetings and e-signatures, the entire process can be completed online from anywhere.

Trusted advisor

Squamish Insurance provides advice specific to your situation, and will work with you if you have an insurance claim. They can answer any questions you have about what is and isn't covered in your insurance policy.

Find out how much your home or tenant insurance could cost by getting a quote.

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Insurance deductibles.

A deductible is the payment you need to make in the event of a claim.

For example, let’s say your home insurance policy has a $1,000 deductible and your home is broken into, and $10,000 worth of your personal belongings are stolen. You are responsible for paying the first $1,000 and your insurance policy covers the rest. The higher your deductible, the lower your premium. Squamish Insurance can help you to determine deductible amounts that are right for you.

Real life example

Squamish Insurance helped a client whose strata’s water damage deductible was $500,000. In their unique case, this meant that if there was an issue originating from their unit, let’s say a burst pipe, and water poured down to units below causing water damage, the burden for covering the $500,000 deductible would be on this client.

With condominium unit owner’s insurance and a specialty insurance policy, Squamish Insurance were able to coordinate coverage that would help Squamish Insurance's client cover 100% of the exposure.

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How to get home insurance.

If you’re buying a new home, the best time to start the process is once you have put down an offer.

Get a quote

Connect with Squamish Insurance and they'll ask you to provide some information about your home. They'll use this information when connecting with insurance providers to find plans that meet your needs for coverage and costs.

For examples of questions that will be asked, review Squamish Insurance application's forms:

Customize your coverage

If there are particular items you are concerned about, Squamish Insurance will discuss them with you and adjust your limits and deductibles, if required.

Review and sign, all online

Squamish Insurance will go over your policy options together, setup payment schedules, and finalize any details over a call, virtual meeting, or e-mail.

Get a home insurance quote