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The Best Home Insurance in Abbotsford

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Written By Joel Kranc

Contributing writer

Updated

Home Insurance in Abbotsford

Home insurance in Abbotsford, BC is not mandatory but is an essential tool in protecting one of your biggest investments – your home. Protection from things like fire, theft or vandalism can save you money and emotional stress should one of those events happen. Also, most financial lending providers will not offer a mortgage to homeowners who do not have home insurance in Abbotsford.

Here are the types of home insurance you’ll find in Abbotsford, BC:

  • Comprehensive or all-perils: This is the most comprehensive home insurance package you can get in Abbotsford. By choosing a comprehensive or all perils policy your home's structure and contents are covered from all insurable perils (events that the insurer has agreed to cover).
  • Broad or named perils: This package is a step down from the comprehensive package. While your home’s structure is covered from all perils, the content within your home is only protected against perils that you’ve specifically named in your policy. You won’t receive compensation for items that have not been specifically covered.
  • Basic: This policy offers basic coverage for properties that fail to meet the usual underwriting standards. Speak with your broker or provider for details. This type of policy is the cheapest of the three because it covers fewer perils and is lower risk to the insurance provider.

Property coverages 

A standard home insurance policy in Abbotsford will include the following:

  • Property: This coverage is based on the overall replacement value of your property’s main home structure and protects from common perils such as fire, theft, and weather. Keep in mind that this policy covers replacement value, which can be very different from the market value of your home. Other areas outside the main structure of your home, such as a fence or driveway, may require additional coverage. Ask your insurer for more information.
  • Contents and personal property: This coverage includes your home's contents, such as houseware, computers, furniture, and appliances, in case they get damaged, lost or stolen. For the best protection, insure your items for the right value so that your protection matches your expenses.
  • Additional living expenses: If you and your family are displaced from your home due to extensive damages, you can claim temporary accommodation and food costs for that period with additional living expenses coverage.

Liability coverages 

Home insurance protects your personal liability as well.

  • Personal liability: Many home insurance policies, whether basic, broad, or comprehensive, come with personal liability protection. This protects you from lawsuits and claims that may occur after someone suffers an injury on your property.

The default on most home insurance plans for personal liability is $100,000 but it is recommended homeowners have coverage for as high as $1,000,000. Depending on your policy this can go as high as $5,000,000.

  • Voluntary medical payments: Covers medical costs when a person suffers an injury on your property and requires necessary medical attention. Most insurers will pay out the specified amount for up to one year from the date of the accident.

Insurers in BC offer coverage for Voluntary Medical Payments that typically range between $5,000 – $10,000, and there is no deductible.

  • Voluntary property damage: Voluntary property damage coverage covers losses you cause to someone else's property even though you are not legally liable for them. This includes situations like accidentally damaging a neighbour's fence while mowing your lawn.

Most insurance companies in BC set their limits for Voluntary Property Damage at $1,000; however, this will vary according to insurer and policy and often goes as high as $6,000.

Add-ons to home insurance coverage in Abbotsford 

Homeowners in Abbotsford can personalize their home insurance policies by adding additional protection to their policies. Here are the most common home insurance add-ons Abbotsford insurers provide:

  • Overland water: This add-on covers damage occurring from overflowing water stemming from rivers, streams, lakes, and thawing snow which enters your home, most commonly through your basement. Please note that not all insurers may offer this add-on.
  • Sewer backup: This will protect you if a sewer backs up and damages your home.
  • Earthquake: BC is situated in an earthquake zone, more than any other part of the country. Homeowners in Abbotsford should therefore consider having this coverage, which is crucial because earthquake damage can be very costly to repair as it can affect your property’s structure.
  • Mass evacuation: This add-on covers mass evacuation when disasters, like wildfires or floods, occur in your area. It will help pay for temporary displacement costs such as housing or food, when you are evacuated from your home due to a disaster.
  • Identity theft: Identity theft coverage covers the cost of replacing important personal identification, such as your driver's license and passport, when lost, stolen, or misused.
  • Lock replacement: This add-on covers the cost of replacing your house locks if damaged.

What is not covered by most Abbotsford home insurance policies?

Not all perils or destructive events are covered by Abbotsford home insurance policies. Some of these include:

  • Maintenance
  • Pests, rodents or infestations
  • Mold
  • Replacements of high value items such as fine art or jewelry
  • Wear and tear/neglect
  • Nuclear hazards
  • Government action
  • War

Recent home insurance quotes in Abbotsford

Recent Home Insurance Quote from Prince George, BC
Detached 2,534 sq ft
May 20, 2024
Cheapest Quote
$ 80 / month
$960 / year
Average Quote
$ 129 / month
$1,548 / year
Savings
$ 48 / month
$576 / year
or
38.00 %
Recent Home Insurance Quote from Prince George, BC
Detached 2,450 sq ft
May 19, 2024
Cheapest Quote
$ 71 / month
$852 / year
Average Quote
$ 101 / month
$1,212 / year
Savings
$ 30 / month
$360 / year
or
30.00 %
Recent Home Insurance Quote from Prince George, BC
Detached 1,093 sq ft
May 19, 2024
Cheapest Quote
$ 54 / month
$648 / year
Average Quote
$ 66 / month
$792 / year
Savings
$ 13 / month
$156 / year
or
19.00 %
Home insurance quotes are compared from Apollo Insurance, CAA, Economical Insurance, Pembridge, Square One Insurance, and SGI

Which companies offer home insurance quotes in Abbotsford, B.C.?

Insurance Companies Company Type Phone Address
AMC Insurance Services Insurance agency 604-409-4503 31696 South Fraser Way, Abbotsford, BC V2T 1T9
BCAA Insurance agency 604-870-3850 32650 South Fraser Way Unit 120, Abbotsford, BC V2T 4W2
B&W Insurance Brokers Insurance agency 604-853-0077 2054 Whatcom Rd, Abbotsford, BC V3G 2K8
Central Valley Insurance Services Insurance agency 604-744-0999 32500 South Fraser Way, Abbotsford, BC V2T 1X3
InsureBC (Abbotsford) Insurance agency 604-855-8828 31935 South Fraser Way Unit #128, Abbotsford, BC V2T 0A1
InsuranceHotline.com Quotes comparison 1-855-821-7312 225 King St W, Suite 1000 Toronto M5V 3M2
LowestRates.ca Quotes comparison 1-855-487-6911 1910 Yonge Street, Suite 401, Toronto, ON M4S 3B2
RATESDOTCA Quotes Comparison 1-844-726-0907 225 King St W, Suite 1000 Toronto M5V 3M2
Scoop Insurance Insurance broker 1-866-456-6620 22-300 Lincoln St, Welland, ON L3B 4N4
Westland Insurance Insurance broker 604-504-5460 3122 Mount Lehman Rd L105, Abbotsford, BC V2T 0C5

How to get the cheapest home insurance in Abbotsford

Finding the cheapest home insurance in Abbotsford is easy when you follow these tips:

  1. Comparison Shop – Using sites like RATESDOTCA allows you to compare the cheapest rates from the top providers in your area. Just a few bits of information about your home and insurance needs and in minutes you’ll get quotes from which to choose. It’s fast, easy and most of all free.
  2. Bundling – By bundling other insurance products, like auto or life insurance, with your home insurance using the same provider you can save money. Your insurance provider appreciates your business and will reward you with discounts.
  3. Raise your Deductible – By agreeing to pay more out-of-pocket expenses before your insurance kicks in, you are reducing risks from your Abbotsford home insurance provider. Reduced risks for them means more savings for you.
  4. Upgrade Your Home – Upgrading outdated home systems like plumbing or wiring can improve the safety of your home. It reduces the risks of fire or flooding and, the need to make insurance claims. That risk reduction will translate to greater home insurance savings.
  5. Look for Discounts – Many Abbotsford home insurance providers offer discounts to members of associations or alumni groups. Ask your provider about the programs they have and if you qualify.
  6. Maintain a good Credit Score – By maintaining a good credit score you are showing your Abbotsford home insurance provider that you are a safe risk. The better your score the less of a risk you are to them and the more savings you can achieve.
  7. Be Loyal – Abbotsford home insurance providers reward customers who remain loyal. By staying with one provider over time, you can achieve greater discounts over the years.

How to get cheap Abbotsford home insurance on RATESDOTCA

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What risks do homeowners face in Abbotsford?

Like most homeowners, those living in Abbotsford face the risks of fire, theft, vandalism and certain weather-related conditions.

People living in BC, however, have a greater threat of earthquakes, flood hazards, storm surges and snow melting. You’ll want to talk to your provider about additional coverage to make sure you are protected from events such as these.

Frequently Asked Questions about Abbotsford Home Insurance

Want to know more about Abbotsford home insurance? Have your questions answered here...

How much does house insurance cost in Abbotsford?

It really depends. The best way to find the cheapest Abbotsford insurance rates is to comparison shop. But home insurance really depends on things like location, your home, and the types of coverage or add-ons you require.

Which company offers the cheapest Abbotsford home insurance?

The cheapest home insurance in Abbotsford can be found on sites like RATESDOTCA. With a few minutes of your time, and some information about your home insurance needs, we’ll provide you the cheapest quotes from the top providers in your area. It’s free, and simple to use.

How much insurance coverage do I need for my home in Abbotsford?

This, again, depends on your home, where it is located and the value of your possessions. If you live in an area that is prone to robbery or vandalism, you may want more coverage. If you have a new home in a safer neighbourhood, you may want to cut back. It really depends on your needs and comfort levels of how much protection you need.

Is fire covered under my Abbotsford home insurance policy?

Standard policies usually cover common risks like fire and theft. Still, you may have unique needs or valuables that require extra coverage. Check with your insurance agent or broker to ensure you have enough coverage.

How do I file a home insurance claim in Abbotsford?

Most Abbotsford home insurance providers allow you to make claims online. You’ll need to know the contents of your home and its approximate value. The best way to make a proper claim is to have receipts and photos of the goods you are making claims on.

You can also call your insurance agent or provider to file a claim. They will help you get the process started and send an adjuster out to your home to view the contents you are claiming on.

*Shoppers who obtained a home insurance quote on RATESDOTCA from January to December 2022 saved an average amount of $500. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA. Excludes tenant and condo insurance.

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