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Everything you need to know about insurance in BC — from home and auto to life, travel, and commercial. Straight from a licensed broker.

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Coverage Basics
A standard BC home insurance policy usually covers four main areas: your dwelling, which is the physical structure, your contents, which are your belongings inside the home, additional living expenses if you need to temporarily relocate after a covered loss, and personal liability if someone is injured on your property. Common covered losses may include fire, theft, sudden water damage, and wind. Every policy is different, so always review your policy wording or ask your broker.
Home insurance is not legally required in BC, but most mortgage lenders require it as a condition of financing. Even if you own your home outright, insurance can help protect you from major financial loss caused by fire, water damage, theft, liability claims, and other covered events.
Standard policies may exclude or limit coverage for overland flooding, earthquake, sewer backup unless added, gradual damage, maintenance issues, and business-related property or liability. Exclusions matter just as much as what is included, so it is important to review your policy wording and ask questions.
Pricing & Quotes
Your premium can be influenced by your location, the age and construction of the home, the estimated replacement cost, your claims history, your chosen deductible, and any optional coverages you add. Homes with updated electrical, plumbing, heating, and roofing systems may qualify for better pricing depending on the insurer.
Your dwelling coverage should be based on the cost to rebuild the home, not the market value. In Greater Vancouver, these numbers can be very different. Contents coverage should reflect the value of your belongings. A broker can help you review these limits so your policy better matches your actual needs.
Claims & Policy
Contact your insurer's claims line as soon as possible. Take photos of the damage before cleaning up, keep receipts for emergency repairs, and follow the instructions provided by your insurer. An adjuster may be assigned to review the damage and explain the next steps. Vansure can help you understand the process and what information may be needed.
It depends on the insurer, the type of claim, and your claims history. Frequent claims or certain types of losses may affect your premium. Some insurers offer claims forgiveness for eligible first claims. If the loss is small and close to your deductible, it is worth asking your broker whether filing a claim makes sense.
Yes, personal liability coverage is usually included in home insurance. If someone is injured on your property and you are found legally responsible, liability coverage may help with legal defence costs and covered damages, up to your policy limit.
Standard home insurance may exclude or limit business activities, including business equipment, inventory, and liability related to clients or customers. If you run a business from home, you may need a home-based business endorsement or a standalone commercial policy. Talk to us about the right fit.
Coverage Basics
Condo insurance can cover your contents, improvements and betterments made to your unit, personal liability, additional living expenses if your unit becomes uninhabitable after a covered loss, and loss assessment coverage. Your strata insures the building and common property, but your personal condo policy helps protect the exposures that belong to you.
Strata insurance generally covers the building structure, common areas, and common property. Condo insurance generally covers your contents, improvements, personal liability, and your exposure to certain strata deductibles or assessments. Both are important because they cover different exposures. One does not replace the other.
Improvements and betterments are upgrades beyond the original unit finishes, such as custom flooring, renovated kitchens, upgraded bathrooms, or built-in features. Depending on your strata policy and bylaws, these upgrades may need to be insured under your personal condo policy. This is an important area for BC condo owners to review.
Strata Deductibles
If your strata experiences a major insured loss, a portion of costs or deductibles may be passed on to unit owners through a special assessment. In BC, strata deductibles can be very high, especially for water damage. Loss assessment coverage may help protect you from certain assessments, depending on your policy wording and the circumstances of the loss.
Possibly. If a loss originates in your unit, such as from a burst pipe, overflowing bathtub, or appliance leak, the strata may seek to recover its deductible from you depending on the bylaws and circumstances. Your condo policy may include coverage that helps respond to this exposure, so it is important to choose limits carefully.
Buying & Pricing
Condo insurance pricing in BC depends on your contents limit, improvements and betterments, liability limit, selected deductibles, claims history, and the strata deductible amounts. Many policies are relatively affordable compared to the potential cost of a major strata deductible assessment. Get a quote from Vansure.
Ask your strata for a copy of the insurance certificate, the current deductible amounts, especially for water damage, and any bylaws that mention owner insurance requirements. Bring this information to your broker so your personal policy can be reviewed properly.
Your condo policy may cover damage to your contents and insured improvements if water from another unit damages your unit, subject to the policy wording and deductible. Depending on the circumstances, there may also be recovery options if another party was negligent. Water damage is one of the most common concerns in strata buildings.
Coverage Basics
Tenant insurance usually covers three main areas: your personal contents, such as furniture, electronics, and clothing, personal liability if you accidentally cause damage or injure someone, and additional living expenses if your unit becomes uninhabitable after a covered loss. Your landlord's insurance covers the building, not your belongings or personal liability.
Tenant insurance is not required by law in BC, but many landlords require it as part of the lease. Even where it is not required, it is strongly recommended because it can help protect your belongings, liability, and temporary living costs after a covered loss.
Tenant insurance is often one of the more affordable types of personal insurance. Pricing depends on your contents limit, liability limit, deductible, location, and claims history. Get a quote from Vansure to compare your options.
Common Questions
No. Your landlord's insurance generally covers the building and their liability as a property owner. Your belongings would generally need to be covered under your own tenant insurance policy.
If you accidentally cause damage, such as from an overflowing bathtub or kitchen fire, your personal liability coverage may help cover the cost of repairs if you are found legally responsible, subject to your policy wording and limit.
Many tenant policies include off-premises coverage, which may cover belongings away from home up to certain limits. This could apply to items such as a laptop stolen from a vehicle or a bike stolen from a rack. High-value items may have special limits, so ask your broker if scheduled coverage makes sense.
Yes. Some insurers allow roommates to be listed together, while others prefer or require separate policies. Separate policies can help keep coverage and claims history clearer for each person.
Landlord Insurance
Landlord insurance is designed for properties rented to tenants. Compared with a standard owner-occupied home policy, it may include coverage for rental income loss, landlord liability, and certain types of tenant-caused damage, depending on the insurer and policy wording. If you rent out a property under a standard home policy, you may have an important coverage gap.
It depends on the insurer and how the suite is used. Some insurers allow a secondary suite if it is properly disclosed, while others may require a different policy or endorsement. Always tell your broker if you have a tenant, even in a basement suite, so the policy can be written correctly.
If your rental property is damaged by a covered loss and your tenants need to move out during repairs, loss of rental income coverage may reimburse you for lost rent, subject to your policy limit and wording. This can be important for landlords who rely on rental income to cover mortgage or property expenses.
Airbnb & Short-Term Rentals
In many cases, standard home insurance does not automatically cover short-term rentals. Renting to paying guests through platforms like Airbnb can change the risk and may require a short-term rental endorsement or standalone policy. Platform protection programs may have limits and conditions and should not automatically be treated as a replacement for insurance. Talk to us before hosting.
For a short-term rental, you may need property coverage for the building and contents, host liability coverage if a guest is injured, and possibly income protection if the property cannot be rented after a covered loss. The right solution depends on how often you rent, whether it is your primary residence, and how the property is used. Get in touch.
Platform protection programs may offer some damage protection, but they are subject to the platform's own process, limits, and exclusions. A proper short-term rental insurance policy can give you direct coverage through an insurer, depending on the wording and circumstances of the loss.
What is Strata Insurance?
Strata insurance is purchased by the strata corporation on behalf of the owners. It generally covers the building structure, common areas such as hallways and elevators, common property, and strata liability. Strata corporations in BC are generally required to maintain insurance for common property and liability.
The strata's insurance affects you in several ways. The strata's deductible may be charged back to an owner in certain situations, and coverage gaps related to your personal contents, improvements, and liability usually need to be addressed through your personal condo policy. Understanding your strata's policy helps you choose better personal coverage.
Many strata buildings in BC have seen higher deductibles, especially for water damage, because of frequent and costly claims. Higher strata deductibles can increase the financial exposure for individual unit owners, which makes reviewing your personal condo insurance limits especially important.
Owner Responsibilities
Some strata corporations require unit owners to provide proof of personal condo insurance under their bylaws. Even when it is not required by the strata, it may be required by your mortgage lender. Ask your strata manager whether your building has any minimum owner insurance requirements.
If a strata corporation is underinsured and a major loss exceeds the available coverage, the shortfall may be shared among unit owners through a special assessment. Reviewing the strata insurance certificate and carrying adequate personal condo insurance, including appropriate loss assessment coverage, can help reduce this risk.
Yes, a strata corporation may face legal action in certain situations, such as disputes involving maintenance, common property, bylaws, or alleged negligence. Strata liability insurance may help respond to covered legal defence costs or settlements, depending on the policy wording.
Request a copy of the strata's insurance certificate or policy summary from your strata manager. Key items to review include deductible amounts, coverage limits, liability limits, and any notes about unit improvements or owner responsibilities. Bring this information to your personal broker so your condo policy can be aligned with the building's insurance.
Coverage Basics
Life insurance pays a tax-free lump sum to your named beneficiaries when you die. You pay premiums — monthly or annually — and in exchange your insurer guarantees to pay the death benefit. In Canada, life insurance proceeds are generally not subject to income tax. There are two main types: term (coverage for a set period) and permanent (lifetime coverage with a savings component).
Term life insurance covers you for a specific period — 10, 20, or 30 years. It's affordable and straightforward, ideal for income replacement and mortgage protection. Whole life insurance (a type of permanent insurance) covers you for life and builds cash value over time. It costs more but can serve as part of an estate or wealth strategy. Most families start with term.
A common starting point is 10–12 times your annual income, but the right amount depends on your debts, dependents, income replacement needs, and future expenses like your children's education. A proper needs analysis considers what your family would need to maintain their lifestyle and meet obligations if you were gone tomorrow. Book a free review with Vansure.
Buying Life Insurance in BC
Not always. Many insurers offer no-medical or simplified issue policies for coverage up to certain amounts. For larger policies or if you have health conditions, a medical exam or detailed health questionnaire may be required. The younger and healthier you are when you apply, the easier and cheaper the process. Don't wait — apply while you're healthy.
Often yes — but the terms vary. Some conditions result in a rated policy (higher premium), some in exclusions, and some in declined applications. Simplified or guaranteed issue products exist for people who can't qualify for traditional coverage. A broker can shop multiple carriers to find the best available option for your situation.
Group life insurance through work is a valuable benefit, but it's typically 1–2x your salary — rarely enough to replace income and cover debts for your family. It also ends when your employment ends. A personal policy is portable, locked in at your current health rating, and sized to your actual needs.
You name one or more beneficiaries when you apply. At death, the insurer pays the death benefit directly to them — bypassing your estate and probate. This makes life insurance one of the fastest ways to get money to your family. Keep your beneficiary designations updated after major life events like marriage, divorce, or having children.
Universal life (UL) is a type of permanent insurance that combines a death benefit with a tax-sheltered investment account. You have flexibility to adjust premiums and investments within the policy. UL is more complex and suited to higher-income Canadians looking for estate planning or tax-efficient investing beyond RRSP and TFSA limits. Talk to a Vansure advisor.
What is Mortgage Protection Insurance?
Mortgage protection insurance ensures your mortgage is paid off if you die, become critically ill, or are disabled. It exists in two forms: creditor insurance sold by banks (tied to the mortgage), and personal life or CI insurance arranged through a broker (owned by you). Both pay off your mortgage — but they work very differently.
Bank creditor insurance pays the lender — not your family. The coverage decreases as your mortgage balance drops, but your premiums stay the same. The beneficiary is the bank. A personal term policy pays your family directly, they decide how to use the money, and your coverage doesn't decrease over time. In almost every case, a personal policy is the better value.
No — they are completely different. CMHC mortgage insurance (also called CMHC default insurance) protects the lender if you default on your mortgage. It is required when your down payment is less than 20%. It does nothing to protect your family if you die or become disabled. Mortgage life insurance protects your family — CMHC protects the bank.
Making the Right Choice
At minimum, your coverage should equal your outstanding mortgage balance. But ideally your total life insurance also covers income replacement, debts, and family expenses beyond just the mortgage. A 20-year term policy sized to your full financial picture is often the smartest approach for new homeowners. Get a needs analysis from Vansure.
Bank creditor insurance is tied to your specific mortgage and cannot be transferred. If you refinance or switch lenders, you lose your coverage and must reapply — at your current age and health. A personal term policy is fully portable and stays with you regardless of where or how you bank.
Your mortgage payments continue regardless. Disability insurance replaces a portion of your income so you can continue to meet obligations including your mortgage. Mortgage protection CI or disability riders can pay off or cover your mortgage specifically. This is a major gap for many BC homeowners. Talk to Vansure.
What is Critical Illness Insurance?
Critical illness (CI) insurance pays you a tax-free lump sum if you survive a covered illness — typically heart attack, stroke, cancer, or major organ failure. You receive the money directly to use however you need: medical treatments, mortgage payments, recovery expenses, or time off work. Most policies require you to survive 30 days past diagnosis.
CI insurance pays a one-time lump sum upon diagnosis of a covered condition — regardless of whether you can work. Disability insurance replaces a monthly portion of your income if you cannot work. They cover different risks and ideally work together. You can be diagnosed with cancer, receive your CI benefit, and still claim disability if you can't work during treatment.
Most policies cover the "big three": cancer, heart attack, and stroke — which account for the vast majority of claims. Comprehensive policies cover 20–25 additional conditions including multiple sclerosis, Parkinson's, kidney failure, major organ transplants, blindness, deafness, and severe burns. The exact conditions vary by insurer and product tier.
BC-Specific Considerations
MSP covers many treatments — but not the financial cost of being ill. Wait times for specialists can be months. Private treatments, medications not on the formulary, travel to specialists, home care, and lost income are all your responsibility. The average Canadian cancer patient spends $30,000+ out of pocket beyond what MSP covers. CI insurance addresses the financial impact — not just the medical bills.
Some CI policies include a return of premium (ROP) option — if you reach the end of the policy term without making a claim, you get your premiums back. It makes CI insurance feel more like forced savings. The ROP rider increases your premium but appeals to people who want a "no-lose" structure. Ask Vansure about ROP options.
A common benchmark is 2 years of net income — enough to cover recovery time, treatment costs, and financial obligations without burning through savings. Some people also size it to their mortgage balance. The right number depends on your income, debts, and family situation. Book a free needs review.
What is Disability Insurance?
Disability insurance replaces a portion of your income — typically 60–85% — if you become unable to work due to illness or injury. Anyone whose family depends on their income needs it. Statistically, a 35-year-old is four times more likely to become disabled before retirement than to die. Yet most Canadians have far less disability coverage than life insurance.
Short-term disability (STD) covers you for the first weeks to months of disability — often through an employer group plan. Long-term disability (LTD) kicks in after the elimination period and can pay until age 65. The elimination period is the waiting period between becoming disabled and receiving benefits — typically 90 or 120 days for individual policies.
No. CPP disability pays a modest benefit — the maximum in 2024 was roughly $1,600/month — and it's difficult to qualify for. It requires severe and prolonged disability. Most people cannot maintain their lifestyle or mortgage on CPP disability alone. A personal disability policy provides meaningful income replacement and much clearer eligibility criteria.
Key Policy Features
Own occupation means you receive benefits if you can't perform the duties of your specific occupation — even if you could theoretically do other work. It's the gold standard for professionals. A cheaper any occupation policy only pays if you can't work at any job. For surgeons, dentists, tradespeople — own occupation matters enormously.
Personally paid disability premiums are generally not tax deductible, but the benefit you receive is tax-free. Employer-paid premiums are often deductible as a business expense, but then the benefit is taxable income. This tax treatment is why personally owned disability policies often provide better after-tax income replacement. Speak with a Vansure advisor.
Most financial advisors recommend replacing 60–70% of gross income — enough to cover essential expenses while accounting for reduced spending when not working. Insurers typically won't cover more than 85% of your pre-disability income. Factor in any group coverage from your employer when calculating your gap. Get a free disability review from Vansure.
What is AD&D Insurance?
AD&D insurance pays a benefit if you die or suffer a serious injury as a result of an accident. "Dismemberment" refers to loss of limbs, sight, hearing, or other functions. It pays the full benefit for accidental death, and a partial benefit for covered injuries (e.g. 50% for loss of one hand). It is not a substitute for life or disability insurance — it only covers accidents.
Life insurance pays on death from any cause — illness, accident, or natural causes. AD&D only pays if death or injury results from an accident. Most deaths are caused by illness, not accidents. AD&D is best treated as a low-cost supplement to life and disability insurance — not a replacement. If you can only afford one, prioritize life insurance.
AD&D is very affordable — often a few dollars a month — and provides a meaningful payout in covered scenarios. It's worth having as a supplement to comprehensive life and disability coverage. On its own, it leaves too many gaps. For tradespeople, drivers, and people in physical occupations it can be particularly relevant given higher accidental injury risk.
AD&D does not cover death or injury caused by: illness, disease, suicide, drug or alcohol use, self-inflicted injuries, war, or certain high-risk activities. It also does not replace income the way disability insurance does. Understanding the exclusions is critical before relying on AD&D as part of your coverage plan.
Yes — AD&D is typically guaranteed issue with no medical exam required. Because it only covers accidents (not illness), insurers don't need to assess your health. This makes it one of the most accessible forms of insurance for people who may have difficulty qualifying for traditional life or disability coverage.
Coverage Basics
Travel insurance typically covers: emergency medical expenses abroad, trip cancellation and interruption, baggage loss or delay, flight delays, and accidental death. The most critical coverage is emergency medical — a single hospital stay in the US can cost $10,000–$100,000+. BC's MSP provides minimal out-of-country coverage. Always travel with proper medical coverage.
MSP provides very limited out-of-country coverage — a small daily rate for hospital stays that falls far short of actual costs in most countries, especially the US. MSP should not be relied on for travel medical coverage. Private travel insurance fills this gap and is essential for any trip outside Canada.
Trip cancellation insurance reimburses your prepaid, non-refundable trip costs if you have to cancel for a covered reason before departure — typically illness, injury, death of a family member, or job loss. Trip interruption coverage applies if something forces you to cut your trip short after departure. Both are usually sold together as a package.
Credit card travel insurance varies significantly by card. Many have low medical limits ($100,000–$500,000), short maximum trip durations (15–21 days), and strict eligibility rules like requiring you to charge the full trip to the card. For a healthy young traveller on a short trip, it may suffice. For longer trips, older travellers, or anyone with pre-existing conditions, a dedicated policy is far safer. Get a proper quote from Vansure.
Pre-Existing Conditions & Eligibility
Yes — but you must disclose all pre-existing conditions when applying. Insurers may cover stable pre-existing conditions if they meet a stability clause (no treatment, medication changes, or symptoms within a defined period — usually 90–180 days). Undisclosed or unstable conditions are commonly excluded and are a leading cause of denied claims. Always be honest on your application.
A stability clause requires that a pre-existing condition must have been stable for a set period before your departure date — no new symptoms, no new medications, no dosage changes, no specialist referrals. The stability period varies by insurer and age — typically 90 to 180 days. If your condition isn't stable, it may be excluded from your policy.
Seniors need higher medical limits (ideally $2M+), coverage for pre-existing conditions, and longer trip duration options. Medical evacuation and repatriation are also critical. Some insurers cap coverage at certain ages or charge significantly higher premiums for travellers over 70. A broker can identify the best options based on your health history and destination. Talk to Vansure.
Standard travel policies often exclude high-risk activities like skydiving, mountaineering, motorbike riding, and extreme skiing. If you're planning adventure activities, you need a policy that explicitly includes them — or a standalone adventure sports rider. Don't assume you're covered — always check the exclusions before your trip.
What is Super Visa Insurance?
The Super Visa is a Canadian multiple-entry visa for parents and grandparents of Canadian citizens or permanent residents. It allows stays of up to 5 years per visit (as of 2024), with multiple entries valid for up to 10 years. It's a faster alternative to the Parents and Grandparents Program (PGP) sponsorship. Canadian private medical insurance is a mandatory requirement for Super Visa approval.
IRCC requires Super Visa applicants to have Canadian insurance that: provides minimum $100,000 in coverage, is valid for at least one year from the date of entry, covers health care, hospitalization, and repatriation, and is from a Canadian insurance company. The insurance certificate must be submitted with the visa application.
Super Visa insurance typically costs $1,200–$3,500+ per year depending on the applicant's age, health, coverage amount, and deductible. Pre-existing conditions significantly affect the premium. Choosing a higher deductible ($1,000–$3,000) can reduce costs. Get a Super Visa insurance quote from Vansure — we work with multiple Canadian carriers.
Most insurers offer a full refund if the visa is refused, provided no claims have been made and you provide proof of refusal. If your parents leave Canada early, many policies offer a partial refund for the unused portion. Refund terms vary by insurer — ask your broker about refund conditions before purchasing.
Some policies cover stable pre-existing conditions — others exclude them entirely. Stable generally means no treatment changes, hospitalizations, or new symptoms within 90–180 days. For parents with diabetes, heart conditions, or other chronic illnesses, finding a policy that covers their conditions properly is critical. A broker can identify the right carrier. Contact Vansure.
Yes — most policies can be extended before expiry, provided there are no active claims and the insured is still in Canada. Extensions must be arranged before the policy expires. If a claim has occurred, extension eligibility varies by insurer. Plan ahead — don't let the policy lapse while your parents are still in Canada.
Major Canadian insurers offering Super Visa coverage include Manulife, Sun Life, Tugo, Allianz, and Travelance, among others. Each has different pricing, stability clauses, and pre-existing condition terms. Working with a broker like Vansure means we compare multiple carriers to find the best fit for your parents' health profile and budget. Get a quote today.
What is Visitor to Canada Insurance?
Visitor to Canada insurance provides emergency medical coverage for people visiting Canada who are not covered by a Canadian provincial health plan. This includes tourists, family members on visitor visas, new immigrants in their waiting period, and returning Canadians who have lost provincial coverage. Canada has no universal health coverage for non-residents — a hospital visit without insurance can cost thousands of dollars per day.
Both provide emergency medical coverage for non-residents in Canada. The key difference is that Super Visa insurance must meet specific IRCC requirements — minimum $100,000 coverage, minimum one year, from a Canadian insurer — to support a Super Visa application. Visitor to Canada insurance is more flexible and used for shorter visits, tourist visas, or anyone without a Super Visa requirement.
Coverage typically includes: emergency hospitalization, physician and specialist visits, diagnostic tests, prescription drugs for emergencies, ambulance, and medical evacuation or repatriation. Some plans also include dental emergencies and accidental death. It does not cover routine checkups, elective procedures, or conditions known before coverage begins.
Costs vary widely based on age, health, coverage amount, deductible, and trip length. A healthy visitor in their 40s might pay $2–$5 per day. Older visitors or those with pre-existing conditions will pay more. Choosing a higher deductible reduces the premium significantly. Get a quote from Vansure — we compare multiple Canadian carriers.
Yes — many insurers allow you to purchase coverage after arrival in Canada. However, most policies include a 48–72 hour waiting period before coverage begins when purchased after arrival. This prevents people from buying insurance only after getting sick. It is always better to purchase before or immediately upon arrival.
Most current Visitor to Canada policies do cover COVID-19 as an emergency medical condition, subject to standard terms. Coverage availability and terms changed significantly during the pandemic. Always confirm COVID coverage explicitly when purchasing and check for any exclusions related to travel advisories. Ask Vansure to confirm coverage details.
Canadian hospitals are required to provide emergency care regardless of insurance status — but the bill goes directly to the patient. Emergency surgery, ICU care, and hospitalization can cost $5,000–$30,000+ per day for uninsured visitors. The hospital can pursue collection through normal legal channels. Medical debt from an uninsured Canadian hospital stay is a real and serious risk for uninsured visitors.
What is E&O Insurance?
Errors and omissions insurance — also called professional liability insurance — protects professionals and businesses against claims that their advice, services, or work caused a client financial loss. If a client sues you for a mistake, an oversight, or a failure to deliver, E&O covers your legal defence costs and any damages awarded, up to your policy limit.
Any professional who provides advice or services for a fee should carry E&O. This includes: consultants, accountants, mortgage brokers, insurance brokers, real estate agents, IT professionals, engineers, designers, marketing agencies, and healthcare practitioners. In many regulated professions in BC, E&O is mandatory to maintain your licence.
General liability (GL) covers physical risks — bodily injury or property damage caused by your business operations. E&O covers financial harm caused by your professional advice or services. A consultant who gives bad advice won't be covered by GL — they need E&O. Most professional businesses need both. They cover fundamentally different exposures.
Claims & Coverage
E&O covers: legal defence costs (even if the claim is frivolous), settlements and judgments up to your policy limit, and in some policies, regulatory investigation costs. It typically covers claims made during the policy period for work performed in the past — this is called a "claims-made" policy. Prior acts coverage (retroactive date) is an important feature to understand.
Coverage needs vary by profession and contract size. Many BC professionals start at $1M per occurrence / $2M aggregate. If you work with large clients or on high-value projects, you may need $5M+. Some client contracts will specify a minimum E&O limit — check your contracts. Talk to Vansure about the right limit for your profession.
E&O policies are almost always claims-made — they cover claims filed while the policy is active, regardless of when the work was done. If you cancel your policy without arranging tail coverage (extended reporting period), you lose protection for past work. Never cancel E&O coverage without understanding the tail coverage implications. Ask Vansure before making changes.
Insurance for BC Contractors
Most BC contractors need: Commercial General Liability (CGL) — the foundation of any contractor's insurance program, tools and equipment coverage, and depending on your trade, contractor's errors and omissions or a wrap-up liability policy for larger projects. Trades like electricians and engineers may also need professional liability. WorkSafeBC coverage is separate and mandatory for most workers.
CGL covers bodily injury and property damage caused by your business operations — for example, a client trips over your tools, or you accidentally damage a client's property. Most BC contractors need a minimum of $2M per occurrence. General contractors and those working on commercial or strata projects often need $5M+. Check your subcontracts — GCs often specify minimum limits.
No. If you use a vehicle for business purposes — hauling tools, visiting job sites, carrying materials — your personal ICBC policy likely excludes business use. You need commercial vehicle coverage added to your ICBC policy or a separate commercial auto policy. Using a personal vehicle for undisclosed business use can void your claim. Talk to Vansure about the right vehicle coverage.
Common Contractor Scenarios
Tools and equipment coverage protects your owned tools, equipment, and machinery against theft, loss, and damage — on the job site, in your vehicle, or in storage. For a tradesperson whose tools represent $20,000–$100,000+ in value, this coverage is essential. It's typically added as a rider to your CGL or as a standalone inland marine policy.
It depends. Your CGL may cover you but then subrogate against the subcontractor's insurer. As a general contractor, you should always require certificates of insurance from every subcontractor and ensure they name you as an additional insured. If a sub has no insurance, the claim can end up on your policy — or worse, uncovered entirely.
Wrap-up (or OCIP/CCIP) insurance is a single liability policy that covers all contractors and subcontractors on a specific project under one umbrella. It's common on large BC construction projects — condos, commercial developments, infrastructure. It eliminates coverage gaps between parties and simplifies claims. Usually purchased by the project owner or general contractor.
What is Cyber Insurance?
Cyber insurance covers financial losses resulting from data breaches, ransomware attacks, hacking, and other cyber incidents. Coverage typically includes: breach response costs, legal fees, notification costs, business interruption from a cyber event, cyber extortion payments, and third-party liability if client data is compromised. It's one of the fastest-growing areas of commercial insurance in Canada.
No. Most general liability and commercial property policies explicitly exclude cyber events. Some older policies had limited cyber coverage, but insurers have added cyber exclusions across the board in recent years. A standalone cyber policy is the only reliable way to cover cyber risk. Don't assume your existing policies respond to a breach.
If your business stores any customer data, uses email, accepts payments online, or relies on computers to operate — you are a cyber target. Small businesses are increasingly targeted because they often have weaker security than large enterprises. In Canada, PIPEDA and BC's PIPA require businesses to protect personal data and notify affected individuals of breaches. Cyber insurance helps you meet those obligations.
BC Business Cyber Risk
Ransomware is malicious software that encrypts your business data and demands payment to restore access. It can shut down operations completely. Cyber insurance covers: the ransom payment (where legally permitted), IT forensics costs, business interruption losses, and data restoration costs. The average ransomware recovery cost for a small business can exceed $200,000.
When a cyber incident occurs, you notify your insurer immediately. They dispatch a breach response team — typically including IT forensics specialists, legal counsel, and a PR firm if needed. They assess the breach, contain the damage, and manage notifications to affected individuals. Your policy covers these costs directly. Speed of response is critical — most policies have a 24/7 incident hotline.
For most small BC businesses, cyber insurance costs $500–$2,500 per year for $1M in coverage. Premiums depend on your revenue, industry, data volume, and security practices. Businesses in healthcare, finance, or professional services pay more due to higher data sensitivity. Insurers are increasingly asking detailed security questionnaires — having good practices lowers your premium. Get a quote from Vansure.
Restaurant Insurance in BC
A BC restaurant typically needs: Commercial General Liability (slip and falls, food-related illness), commercial property insurance (equipment, contents, building if owned), business interruption insurance (lost revenue if you're forced to close), liquor liability if you serve alcohol, and equipment breakdown coverage for kitchen equipment. Many of these are bundled in a Restaurant Business Owner Policy (BOP).
If you sell or serve alcohol, liquor liability is essential — and in BC it is required as part of your liquor licence conditions. Under BC's Liquor Control and Licensing Act, licensees have a duty of care to patrons. If an intoxicated patron causes harm after leaving your establishment, you can be held liable. Standard CGL policies often exclude liquor-related claims — a separate liquor liability endorsement or policy is required.
Yes — most commercial property policies for restaurants include food spoilage coverage if the cause is a covered peril such as equipment breakdown or power outage. Coverage limits are typically $5,000–$25,000. If you carry significant inventory, make sure your limit is adequate and that the policy covers the cause of spoilage most relevant to your operation.
Business interruption (BI) insurance replaces your lost revenue and covers ongoing expenses if your restaurant is forced to close due to a covered property loss — fire, flood, smoke damage. For restaurants operating on thin margins, even 2–3 weeks of closure can be devastating. BI is one of the most important — and most undervalued — coverages for food service businesses.
If you employ drivers using their personal vehicles, their personal ICBC policies may not cover business use. You need a non-owned auto liability endorsement on your commercial policy to cover your business's liability when employees use personal vehicles for deliveries. Third-party delivery platforms (Skip, DoorDash) have their own insurance — but only while the driver is on a delivery through their platform.
Restaurant insurance in BC typically costs $3,000–$10,000+ per year depending on size, revenue, whether you serve alcohol, seating capacity, and location. Full-service restaurants with liquor licences pay more than small cafés. A proper package policy from a commercial broker is almost always better value than piecing coverages together. Get a restaurant insurance quote from Vansure.
Insurance for Barbershops & Salons in BC
A BC barbershop or salon needs: Commercial General Liability (client injury, property damage), professional liability / malpractice (allergic reactions, injuries from services), commercial property (equipment, product inventory, leasehold improvements), and business interruption. If you have employees, WorkSafeBC coverage is mandatory. Many booth renters also need their own individual professional liability policy.
Yes. As a booth renter you are typically considered a self-employed independent contractor. The shop owner's policy covers the business — not you personally. You need your own professional liability policy and ideally your own CGL. If you cause a client injury or reaction, the claim comes to you — not the shop. Many shop owners now require proof of insurance before renting a booth.
Professional liability (also called malpractice or beauty insurance) covers claims arising from your professional services — a chemical burn from hair dye, a scalp injury, an allergic reaction to a product, or a claim that a haircut damaged someone's appearance for an important event. These claims are excluded from standard CGL policies and require specific professional liability coverage.
A basic professional liability and CGL package for a solo barber or stylist typically costs $500–$1,200 per year. For a full shop with multiple chairs, equipment, and leasehold improvements, expect $1,500–$4,000+. Costs increase with number of employees, revenue, and services offered (e.g. chemical treatments vs. dry cuts). Get a quote from Vansure.
If you retail hair products, you have product liability exposure — if a product you sold causes an allergic reaction or injury, a claim can be made against you as the retailer. Most CGL policies include product liability, but check your limits. If you are also making or repackaging products (e.g. custom blends), additional product liability coverage may be required. Talk to Vansure.
Insurance for Vape & Smoke Shops in BC
Vape and smoke shops may need Commercial General Liability, including product liability, commercial property for inventory and equipment, business interruption, and other specialty coverage depending on the products sold. Some insurers view this class as higher risk because of product liability, battery-related concerns, and changing regulation. Not all insurers write this type of business, so working with a broker familiar with specialty retail can help.
Insurers may view vape retail as higher risk because of product liability exposure, device or battery-related incidents, theft risk, and changing rules around regulated products. This can affect insurer availability, underwriting questions, and pricing.
It depends on the insurer and policy wording. Some products or accessories may be restricted, excluded, or require special disclosure. Always tell your broker exactly what products you sell so the insurer can review the risk properly. Talk to Vansure about specialty retail coverage.
Product liability can respond to claims alleging that a product you sold or distributed caused bodily injury or property damage. Retailers may be named in a claim even if they did not manufacture the product. For vape retailers, it is important to confirm whether product liability is included and whether any product exclusions apply.
Pricing depends on the products sold, inventory value, revenue, location, claims history, security measures, and insurer appetite. Because this can be a specialty class, premiums may vary widely. Get a quote from Vansure.
Insurance for Convenience Stores in BC
A convenience store may need Commercial General Liability, commercial property, business interruption, crime coverage, and equipment breakdown for refrigeration and other key systems. Stores that sell regulated products, lottery tickets, or operate additional services may need further review by the insurer.
Crime coverage may help protect against certain losses involving money, securities, robbery, burglary, or employee dishonesty, depending on the policy wording. Limits vary, so it is important to review your average cash on hand, deposit procedures, and security measures.
Equipment breakdown may cover repair or replacement costs when covered mechanical or electrical equipment fails. For convenience stores, this can be especially important for refrigeration and freezer units. Some policies may also include spoilage coverage related to a covered equipment breakdown.
Some products or services may come with additional insurance, licensing, or contractual requirements. Your broker should know what products you sell so your insurer can confirm whether the policy is suitable and whether any endorsements or exclusions apply.
Pricing depends on store size, revenue, inventory, location, claims history, security, hours of operation, and the products or services offered. Get a tailored quote from Vansure.
Insurance for Gas Stations in BC
Gas stations often require a specialized insurance package. Common coverages to consider include Commercial General Liability, commercial property, pollution liability, environmental impairment liability, crime coverage, equipment breakdown, and business interruption. If the site includes a car wash, service bays, or a convenience store, those operations should also be reviewed.
Underground storage tank liability may respond to certain costs related to fuel leaks from underground tanks, including cleanup costs, third-party property damage, or bodily injury claims, depending on the wording. Fuel contamination claims can be complex and expensive, so this coverage should be reviewed carefully for any fuel retailer.
Coverage depends on the policy wording and the circumstances of the spill. Some claims may fall under Commercial General Liability, while others may be affected by pollution exclusions or require specialty coverage. If vehicles are in your care, custody, or control, additional garage-related coverage may also be needed.
Environmental impairment liability can help respond to claims involving contamination of soil, groundwater, or third-party property caused by a covered pollution event. Standard liability policies often contain pollution exclusions, so gas stations should review environmental coverage carefully with a broker.
Gas station insurance pricing depends on fuel volume, tank age and condition, environmental history, property value, revenue, location, attached operations, and insurer appetite. Contact Vansure for a specialty commercial quote.
Yes, a car wash adds additional exposures such as vehicle damage, equipment breakdown, slip and fall risk, and water or chemical-related concerns. Depending on the insurer, these exposures may be added to the main commercial policy or insured separately.
Insurance for Hotels & Motels in BC
Hotels and motels may need a package that includes Commercial General Liability, commercial property, business interruption, crime coverage, equipment breakdown, cyber insurance, and additional coverage for amenities or operations such as restaurants, pools, gyms, or event spaces. Some businesses may also need coverage related to guest property.
Innkeeper's liability may help respond to certain claims involving loss or damage to guests' personal property while on the premises, depending on the circumstances and policy wording. Hotels and motels should review this exposure with a broker, especially if they handle luggage, provide parking, or operate with front-desk custody of guest property.
Guest injuries in amenity areas may be addressed under Commercial General Liability, subject to the policy wording and circumstances. Pools, gyms, spas, stairwells, and parking lots can create higher liability exposure, so strong safety procedures, maintenance records, and adequate liability limits are important.
Cyber insurance is strongly worth considering for hotels and motels because they often collect guest names, payment details, reservation information, and other sensitive data. A cyber incident can affect reservations, check-in systems, payment processing, and customer trust. Coverage may help with breach response, legal costs, notification expenses, and business interruption, depending on the policy.
Hotel insurance pricing varies based on property value, room count, revenue, claims history, location, amenities, life safety systems, and whether the business has restaurants, pools, bars, or event spaces. Hotel and motel insurance is a specialty class, so it is important to review the full operation with a broker. Contact Vansure for a hospitality sector quote.
Coverage for guest-caused damage depends on whether the damage was accidental or intentional and how the policy is written. Some policies may include limited coverage for certain guest damage, while intentional or excluded losses may not be covered. Strong guest agreements, deposits where appropriate, and documented check-in and check-out procedures can help reduce disputes.
Builder's Risk Insurance in BC
Builder's risk insurance, also called course of construction insurance, helps protect a building or structure while it is being built or renovated. It may cover losses such as fire, theft, vandalism, wind, and other insured perils during the construction period. The property owner, developer, lender, or general contractor may have an interest in making sure this coverage is arranged.
A builder's risk policy may cover the structure under construction, materials on site, materials in transit, and temporary structures, depending on the policy. It usually does not replace contractor liability, professional liability, or workers' compensation coverage.
Responsibility should be clearly stated in the construction contract. In many cases, the project owner or developer arranges coverage, but some contractors may include it in their scope. The important thing is to confirm who is responsible, who needs to be named on the policy, and when coverage starts and ends.
Builder's risk policies are usually written for the expected construction period, such as 6, 12, or 24 months. Coverage may be extendable if the project takes longer, subject to insurer approval. Coverage typically ends when the project is completed, occupied, handed over, or replaced by permanent property insurance.
Yes, builder's risk can be arranged for renovation and addition projects as well as new construction. For renovations, it is important to review both the existing structure and the new work. Major renovations should be disclosed to the property insurer because construction can affect existing coverage.
Pricing depends on the construction value, project duration, construction type, location, site security, fire protection, contractor experience, and claims history. Get a builder's risk quote from Vansure.

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