Get Cheap Home Insurance in Kelowna

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• How home insurance works in Kelowna
• How to get the cheapest home insurance quotes in Kelowna
• Factors that determine your Kelowna home insurance premium
• Top Kelowna home insurance companies
• Why use InsuranceHotline.com to compare home insurance quotes online?
• Frequently asked questions about Kelowna home insurance

How home insurance works in Kelowna

Kelowna, the gateway to the Okanagan Valley, would be a dream of anyone as a getaway or certainly a place to settle down in. Owning a home there is not cheap but still less expensive than places like Vancouver or Victoria.

If you are looking to buy or own a home there you are not required to have home insurance in Kelowna or in British Columbia, in general. However, your mortgage lender typically requires home insurance in Kelowna, and it provides you with the peace of mind you need for what could be the largest investment you’ll ever make.

Home insurance in Kelowna may help protect your home and its contents in case of:

• Theft
• Property coverage (loss or damage to the inside and outside of your home or property)
• Additional living expenses if you're temporarily unable to live in your home
• Damage, theft or loss of your personal possessions
• Personal property stolen from your vehicle
• Damage or injury to others who visit your home or property
• Accidental damage you cause to somebody else’s property

Homeowners looking for home insurance in Kelowna generally have three options:

Basic Coverage: This is also known as perils and only covers specific risks you choose, for example fire could be selected but then other coverage would not.

Broad Coverage: This covers the structure of your home as well as the contents inside of it should physical loss or damage occur. It only covers your contents for named perils.

Comprehensive Coverage: This covers your home and its contents from all risks, except optional coverages such as sewar back-up, overland water and earthquakes.

Factors that determine your Kelowna home insurance premium

Finding cheap Kelowna home insurance depends on several factors including the location, construction details and home’s age.

Kelowna home insurance rates can fluctuate based on risk factors such as your home’s age, location and basic construction.

More specifically, Kelowna home insurance companies will want to look at the following when providing you a quote:

• Condition of roof (or if you have one - i.e. condo): A solid well-maintained roof will lower damage risks and could reduce premiums.
  
• Construction: Newer construction that is up to code will be seen as a lower risk.
  
• Past renovations: These could indicate problems with the house, which insurers will want to know about.
  
• Claims history: Past claim history could be indicative of problems with the home and raise premiums.
  
• Credit score: People with better credit scores are lower risk.
  
• Special uses: For example, if you have a business running out of your home.
  
• Pool and other accessory dwellings: A shed, back deck or laneway suite, for example -- each of these could add risks to your home for which you would likely have to pay a higher premium.

Top Kelowna home insurance companies

*Shoppers in Canada who obtained a quote on InsuranceHotline.com from January to December 2021 saved an average of 21%. The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by InsuranceHotline.com.