Compare the best Victoria home insurance quotes & save today

Prices range quite a bit depending on your location, square footage, and type of home. An average home insurance policy in Victoria is about $840 per year or around $70 per month. If you need insurance for a condo, the price is closer to $35 per month and renters insurance is closer to $15 per month. 

To get the best home insurance in BC, you typically need extra coverage to insure yourself against all risks. Most home insurance policies are comprehensive in nature, except for a few things. For instance, earthquake insurance and flood insurance are add-ons you can use to extend your coverage. On an island, close to an area known for earthquakes, and the potential for extreme water damage, your insurer may even request you have these coverages on your policy. 

To save more money, consider renovations and upgrades that improve safety to reduce the risks of a home insurance claim. You can even go so far as to install a monitored alarm system to deter thieves, and maybe earn further discounts on your home insurance premiums. 

BCAA, Aviva, and Intact are big-name providers, but finding the best home insurance company for you doesn't mean choosing the most popular. Each home insurance company will look at your unique housing situation and put a price tag on it – some charge more than others, and it fluctuates all the time.

Our suggestion is to, once a year, take 5 minutes to compare home insurance quotes to see which company will give you the best price for the best value. If your current provider is still winning and you're happy with the customer service, stay on. If you get cheaper insurance quotes, consider changing your provider. 

There are some things that are excluded from standard policies. It's most often due to wear and tear that gets worse due to negligence. For instance, mould is seen as a lack of maintenance from a homeowner. If a home insurance claim could have been avoided with regular maintenance, you can expect it to not be covered.

Other common exclusions include infestations from termites or rats, home businesses, dangerous dogs, and sewer backups. Water is a tricky peril and for some instances, it's included in your coverage, while for other scenarios it's not.  Read our blog on sewer backup, it has a situation often overlooked by many homeowners. 

Yes, if you’re unhappy with your rate or customer service, feel free to move on. However, before you do, it’s important to shop around for home insurance quotes, select your new provider, inform your old provider and ensure there are no coverage gaps while you transfer. Read our blog to know how to switch insurance companies. 

Unlike auto insurance, where age and gender can play a role in determining your rate, home insurance only cares about the home itself. You can get married, share the home with your new spouse, and even add children if you want to and it won’t affect the rate you pay.

A home insurance peril is an unknown or accidental event. For instance, if your home is struck and damaged by lightning, creating a hole in your roof, there is no way you could have prevented it. But a home insurance policy is not a maintenance plan so if your roof has slowly degraded over time and now needs replacing, it is not a peril since its eventual replacement is expected.

Make a complete list of damaged or stolen items. Call your insurance provider as soon as you can and ask about what you’re entitled to, especially if you can’t currently live in your home as you may be entitled to hotel and food expenses. A claims adjuster will be in contact with you to fill out a proof of loss form. Ask about using your own contractor or if you’re required to use one they supply to repair the property.

Your deductible is the portion of the claim you’re responsible for paying before the insurance company will pay the rest. A higher deductible, meaning you'll pay more than standard in the event of a claim, will result in lower premiums.