Vancouver Magazine
Burdock and Co Is Celebrating a Decade in Business with a 10-Course Tasting Menu
The Frozen Pizza Chronicles Vol. 3: Big Grocery Gets in on the Game
The Best Thing I Ate All Week: Crab Cakes from Smitty’s Oyster House on Main Street
5 Wines To Zero In On at This Weekend’s Bordeaux Release
Protected: The Grape Escape for Wine Enthusiasts
Recipe: Make Your Own Clove Simple Syrup
If you get a 5-year fixed mortgage rate now, can you break early when rates fall?
5 Things to Do in Vancouver This Week (September 18-24)
10 Vancouver International Film Festival Movies We’ll Be Lining Up For
Dark Skies in Utah: Chasing Cosmic Connection on the Road
Fall Wedges and Water in Kamloops
Glamping Utah: Adventure Has Never Felt So Good
On the Rise: Meet Vancouver Jewellery Designer Jamie Carlson
At Home With Photographer Evaan Kheraj and Fashion Stylist Luisa Rino
At Home With Interior Designer Aleem Kassam
Does earthquake insurance make sense for homeowners? It almost certainly did when it used to cost cents-on average, six or seven per $100 cost of rebuilding-but that was when insurers bet that a truly damaging earthquake would roll around only once every 1,500 years. Coming off Canada’s biggest natural-disaster payout year in history (floods, ice storms), rates have nearly doubled. Rates vary by location, with delta dwellers in places like Richmond paying the most and condo owners getting a bit of a break.
Our newly expanded rates are still about half those in California, where earthquakes are more common, yet almost half of British Columbians have been declining the coverage, which is rarely included in a basic property insurance bill and required by only a few mortgagors. These homeowners are taking the opposite bet, rolling the dice that the big one won’t strike quite yet
Including earthquake insurance on a $500,000 dwelling (there’s no need to insure that $2 million lot) will add $500 a year to your property insurance bill-with a deductible possibly into six figures. Five years ago, that coverage would have cost only $300 a year