HOMEOWNERS

Complimentary Reviews and Recommendations for Canadian Homeowners.

Bicycle Broker Insurance is proud to offer home insurance broker services. Keeping one point of contact for all your property coverage. Saving time and money. We understand that your situation is unique, and we look forward to building a customized coverage plan for you.

For Homeowners

There are certain things homeowners should be aware of when choosing their home insurance policy, such as the amount of coverage they should choose for the building itself. The dwelling coverage amount represents the estimated cost the insured would incur to rebuild the home – this has nothing to do with the value of the home.

As an example, a mansion in a nice neighborhood might sell for $5M, but it might only cost $1M to rebuild the house if it burnt down. In addition, the rebuild cost is also important because it sets the tone for the rest of the policy.

Personal property, additional living expenses, and detached structures are all coverage items that are included on your policy, and they are provided as a percentage of the rebuild cost you choose. When it comes to your sports equipment, many standard policies offer limited values per item and often insure bicycles only while at home in storage.

We provide the right policies designed for theft while items are in use, away from your property. Give us a shout, and we will help you choose the right amount and the right product for your home.

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For Condo or Townhouse Owners

Condo and townhome owners are usually subject to strata rules and guidelines; therefore, they have much different needs than those with detached homes. Strata corporations often mandate specific levels of coverage, and although they have their own ‘master policy’ for the entire building, certain coverages within their insurance will require your participation. As an example, if the building suffers a loss, they may come to all the owners in the building for a percentage of that cost or to help out with the deductible – this can all be checked off on your personal condo policy.

Despite owning your own unit, there are also common areas to be considered, which is another reason why condo insurance is so important (especially the liability portion). Items such as loss assessment coverage, difference in deductible insurance, and special levy protection should all be points of interest to condo and townhome owners. Our policy quotes will include theft coverage for your bikes whether in a storage locker, hung on the wall, or out for a spin. Submit your info to us online, and we can help you decide what product is the right fit!

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For Tenants

It’s so much more than contents. Tenant insurance is often mandated by landlords in BC, and Bicycle Broker is here to help! People will often confuse renters insurance as being a simple coverage that insures contents and belongings, but it’s so much more than that. Tenants have very similar exposures to those of condo and townhome owners that should be covered in a policy, such as the threat of having to move unexpectedly (additional living expenses), being sued for bodily injury or property damage (personal liability), earthquake and flood coverage, and of course, contents.

We are still concerned about your bike(s), and our custom tenants’ quotes will detail coverages included.

Depending on your fleet of personal bikes, our recommendations include a minimum comprehensive bike coverage of $3,000/bike and often have no limit on the values of your bikes, providing your total personal property coverage amounts are sufficient. Some landlords will have different insurance requirements, and the Bicycle Broker team can help you understand what those are and how to best comply with them.

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Not Sure Where to Begin?

Get in touch with us. We’re here to help.

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