Home Insurance Prince George: Intro
Welcome to your Home Insurance Guide for Prince George. This page will give you an idea of Home Insurance Premiums in British Columbia, will inform about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Prince George.
What Are Typical Home Insurance Premiums In British Columbia?This chart illustrates the average Renters and Homeowners Insurance premiums in British Columbia and other provinces including Home Insurance in Prince George. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner. Overall consumers spend more on Home Insurance in British Columbia because of the several reasons:
Earthquake protection: Seismic activity of the region often results in additional coverage (insurance riders) against earthquakes that customers prefer to purchase to have a peace of mind. It is especially important along the coast.
High rebuilding costs: High share of more expensive real estate indirectly impacts home insurance premiums. Though home insurance is driven by rebuilding costs as opposed to market value of a property, British Columbia has a high share of premium, more expensive properties that are more expensive to rebuild. In addition to that construction of the buildings is sometimes more complicated than in other provinces since these should be build considering seismic hazards (e.g. special structure, lateral bracing requirements)
How Can You Save on Home Insurance in Prince George?
- Heating: Insurers like forced-air gas furnaces or electric heat installations. If you have an oil-heated home, you could be paying more for insurance. Keep this in mind when you are house hunting.
- Welcome discount: Switching providers? There may be a welcome discount. Don’t be afraid to ask about it. (e.g. Grey Power Insurance)
- Mortgage-free home: When you pay off your home, some insurers will reward you with lower premiums (e.g. RBC Insurance, Cooperators)
- Look around and do your research: There are many insurance providers and their prices for the same policies can be very different. Take advantage of online tools and talk to several brokers, since each will cover a select number of insurance companies.
- Pipes: Insurers prefer copper or plastic plumbing. Consider upgrading your galvanized/lead pipes during your next renovation cycle.
- Decrease liability risk: Decrease your liability with a common-sense approach to hazards. Fence off your pool. Keep aggressive dogs on a leash. Shovel the snow and ice from your walkway.
- Change your content coverage: Do you rent an apartment or condo? You can often lower your content coverage. No need to insure your belongings to up to $250,000 if you only have a laptop and some IKEA furniture!
- Stability of residence: Lived in the same residence for years? You may be eligible for a stability discount. A few insurers offers one. (e.g. Grey Power Insurance)
- Monitoring: Is there other security like a doorman or security guard on the premises? This may mean an additional discount.
- Interested in more saving tips for Home Insurance in Prince George? Get an insurance quote below and connect with an experienced insurance professional to get more tips
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