House, Condo, Tenant, and Strata Insurance
At Habitat Insurance Agencies, we understand how important your property is to you, whether you're a tenant or owner. That's why we take the utmost care to help our clients get the best insurance packages for their needs.
We sell insurance policies underwritten by a wide range of reputable of Canadian and international insurance companies, all of whom have excellent track records for customer and claims service.
- Types of policies and coverages that we provide:
- House insurance
- Condo insurance
- Townhouse insurance
- Seasonal dwellings insurance
- Home business insurance
- Vacation trailers insurance
- Earthquake coverage
- Boat insurance
- Tenants insurance
- Water coverage
- High value items coverage
- Special risks coverage
- Rented homes & condos insurance
- Duplex / Multiplex insurance
- Strata building insurance
We are licensed sell insurance coverage for all properties within British Columbia.
As a Vancouver-based agency, we are particularly knowledgeable about insuring properties located in the Lower Mainland, including Vancouver, Burnaby, New Westminster, Richmond, Surrey, Langley, North Vancouver, Coquitlam, etc.
The experienced brokers at Habitat Insurance Agencies will help guide you through the sometimes confusing world of insurance. We aim give you the peace of mind that you deserve from your insurance policy… and always at competitive premiums.
FAQs about House, Condo, Tenant and Strata Insurance
Why is the value given for my house (or duplex / strata building) in my insurance policy higher than the property tax assessment?
Building insurance is calculated on the replacement cost of the dwelling. Replacement cost is the estimated amount of money it would cost to rebuild the house in the current market. Replacement cost reflects current building material and labour costs.
What is guaranteed replacement cost (GRC)?
GRC means that the insurance company will pay the cost of repairs or replacement – on the same site – even if the cost to rebuild your house exceeds the insured amount shown on your insurance policy. This is the best type of house insurance coverage to have.
What is the difference between broad and comprehensive insurance coverage?
There is no difference in building coverage: both types provide coverage for “all risks”. Under broad insurance coverage, contents are insured against “named perils”. Comprehensive insurance provides coverage for contents on an “all risks” basis. Please contact us if you would like to find out more detailed information about the differences between broad and comprehensive insurance coverage.
How can I reduce the cost of my insurance?
Many discounts are available, which can reduce insurance premiums by up to 50%. These include:
- Claims-free discount: for having no insurance claims for 3-5 years
- Mortgage-free discount: for owning your own home with no mortgage
- New home discount: for owning a home less than 7 years old
- Alarm discount: for having fire and/or burglar alarms
- Mature age and seniors discount: for those individuals 50+
- Multi-line discount: having more than one property insured with an insurance company
- Selecting higher deductibles can reduce your premium by up to 15%
Contact us for more information on how Habitat Insurance Agencies can save you money on your house, condo, strata, and tenant’s insurance. Or request an insurance quote by clicking on the button at the bottom of the page.
Are there sub-limits in house, condo, and tenant insurance policies?
Yes, all of these types of insurance policies have limits for certain classes of items. Sub-limits vary from company to company. This is an example of typical sub-limits in a house/condo/tenant’s insurance policy:
| Watercraft including accessories & equipment | $3,000 |
| Spare auto parts | $1,000 |
| Securities | $5,000 |
| Money, cash cards, bullion | $500 |
| Manuscripts and stamp collections | $1,500 |
| Lawn mowers, gardening equipment, snow blowers, garden tractors, etc. | $10,000 |
| Jewellery, furs, watches, gems | $6,000 |
| Coin collections | $500 |
| Books, tools and instruments relating to business | $5,000 |
| Bikes and their accessories | $1,000 per bike |
You may get additional insurance coverage if you wish to insure personal property that exceeds the sub-limits in your policy.
Is earthquake coverage automatically included in house, condo, and tenant insurance policies?
No. This is optional insurance coverage. You may choose to get earthquake insurance; rates vary according to the location of the property.