Victoria Real Estate – Check insurance coverage before disaster strikes
Although this year’s summer season in BC hasn’t been the warmest, the risk of forest fires and the devastation of years past are on the minds of many. As a REALTOR® we would like to advise you to check your insurance coverage now, rather than waiting until your communitie is threatened.
During natural disasters, such as wildfires, insurance companies may have temporary restrictions on taking new business, which may result in difficulties for homeowners to purchase or upgrade their policies at that time. These same factors could also slow real estate transactions during a state of emergency, potentially affecting us as REALTORS® and those looking to buy or sell a home.
“In these situations, new policies are provided on a case-by-case basis,� said Lindsay Olson, Vice President of the Insurance Bureau of Canada’s Pacific Region. “In general, it will greatly increase the amount of time it takes to obtain insurance.�
For more information on preventing fire around your home, download a copy of the provincial government’s FireSmart Manual.
The Insurance Bureau of Canada (IBC) is the national trade association of the private property and casualty insurance industry. It represents more than 90 per cent of the non-government home, car and business insurance in Canada. For more information, visit IBC’s website at www.ibc.ca.
If you have any comments on insurance issues, please drop one below. Further more, feel free to contact us anytime.
Enjoy the sunshine,
Cheers, Anders
Anders Treiberg, REALTOR®
Properties In Victoria Professionals- Royal LePage Coast Capital Realty
Anders Treiberg has been a REALTOR® in Victoria, BC. since 1990. He has extensive Real Estate Expertise and can be reached on his website www.PropertiesInVictoria.com
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