Vancouver Magazine
Opening Soon: A Japanese-Style Bagel Shop in Downtown Vancouver
The Broadway/Cambie Corridor Has Become a Hub for Excellent Chinese Restaurants
Flaky, Fluffy and Freaking Delicious: Vancouver’s Top Fry Bread and Bannock
Protected: The Wick is Lit for This Fraser Valley Winery
Wine Collab of the Week: The Best Bottle to Welcome a Vancouver Spring
Naked Malt Blended Malt Scotch Whisky Celebrates Versatility and Spirit
Coyotes, Crows and Flying Ants: All of Your Vancouver Wildlife Questions, Answered
The Orpheum to Launch ‘Silent Movie Mondays’ This Spring
5 Things to Do in Vancouver This Week (March 27-April 2)
What It’s Like to Get Lost on a Run With a Pro Trail Runner
8 Things to Do in Abbotsford (Even If It’s Pouring Rain)
Explore the Rockies by Rail with Rocky Mountaineer
The Future of Beauty: How One Medical Aesthetics Clinic is Changing the Game
4 Fashion Designers From African Fashion Week Vancouver to Put on Your Radar
Before Hibernation Season Ends: A Round-Up of the Coziest Shopping Picks
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