Seasonal Insurance

First time or experienced?

In most cases, you will need to pair your seasonal home with your primary home insurance carrier. No two seasonal properties are alike so it’s important to talk with your Waypoint broker, who can help assess your individual BC vacation home insurance situation and give you the best policy recommendation.

Coverage can vary greatly. The location of your seasonal home, its construction type and its fire protection will have the most impact on the type of coverage for which you are eligible.

Important factors that insurers take into consideration when insuring your seasonal home include:

The location of your vacation home
Fire protection availability to the residence
The updates and age of your vacation home
Construction type of your vacation home
Primary heating source with special consideration to wood burning fireplaces and stoves
Road, ferry or boat access to the home
Frequency of use
Proximity to areas where there are frequent historical losses or where known losses will impact your ability to obtain coverage

Coverage Includes

The Building

Provides coverage for repairs and/or replacement of the building structure itself either on replacement cost or actual cash value basis.

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

Personal Property

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

Outbuildings

Includes detached garage, carport, gazebo, shed or other structure that does not form a part of the home and is for personal use.

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

Premises Liability

You are responsible for the condition of your vacation property and safety of those that enter it. Liability coverage pays damages for personal injury or property damage that you are legally obligated to pay.

Premises 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 dock, you could be deemed legally responsible for their injuries and associated costs
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 swimming pool, or trampoline you must disclose these to your insurer to ensure that you are properly covered

Sewer Back Up*

If you ever need it, this is one insurance policy you’ll be glad you have.

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

Overland Water*

There’s a lot of water in BC. This coverage will provide protection against a variety of water damage threats.

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

Earthquake- Building and Personal Property*

If your home shakes, rattles and rolls off the foundation or sustains damage in an earthquake, you can be protected for losses.

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.