Personal Umbrella Coverage: Why Everyone Should Consider It

September 23, 2025/in Blog Content /by tracy

Protect yourself and your family from unexpected legal and liability risks with personal umbrella coverage.

Most people understand the basics of insurance. You insure your home against fire, theft, or storm damage. You insure your vehicle in case of an accident. These policies are not just common sense — they’re often required by law.

But what happens when your standard coverage isn’t enough? Imagine being sued for damages after a car accident or facing a costly liability claim because of something that happened on your property. Legal battles are not just something that happens in TV dramas — they’re a reality that more and more Canadians are facing.

This is where personal umbrella coverage becomes invaluable. It’s an extra layer of liability protection that goes beyond your existing home and auto policies, shielding your finances and your future if life throws the unexpected your way.

Key Takeaways

Personal umbrella coverage provides liability protection above and beyond standard home and auto insurance.
It helps cover legal costs, damages, and settlement amounts that exceed your primary policy limits.
Everyday activities — like driving, posting online, or hosting a party — can expose you to liability risks.
This coverage also protects you while travelling outside of Canada.
It’s a cost-effective way to gain peace of mind and protect your assets.

What Is Personal Umbrella Coverage?

Personal umbrella coverage can protect you against large liability claims that could otherwise drain your savings, investments, or future earnings.

It works by:

Increasing your liability limits: If your home or auto insurance caps out at a certain amount, umbrella coverage kicks in.
Covering excluded risks: Some liability claims not covered by home or auto policies can be picked up by umbrella insurance.
Providing global protection: Unlike many standard policies, umbrella coverage often extends to incidents outside of Canada.

Think of it as a financial safety net — one that ensures a single lawsuit doesn’t unravel everything you’ve worked hard to build.

Five Common Scenarios Where Personal Umbrella Coverage Saves the Day

You may think, “I live a normal life — why would I ever need that much coverage?” The truth is, liability risks don’t just affect celebrities or business moguls. They can impact anyone. Here are five everyday scenarios where personal umbrella coverage makes all the difference.

1. The Social Media Slip-Up

We live in a world where a single post on Facebook, Instagram, or TikTok can reach thousands. What feels like harmless sharing can quickly escalate into a liability nightmare.

A critical review of a local restaurant could be seen as defamation.
Sharing someone’s photo without permission might spark a privacy complaint.

If legal action is taken, the costs could be overwhelming—umbrella coverage steps in to handle the legal fees and damages.

2. Teenagers at Home

Teenagers are learning independence, but sometimes that independence comes with risks. If your child damages property, injures someone, or posts something harmful online, as the parent, you could be held financially responsible.

Personal umbrella coverage ensures you’re not left footing the bill for mistakes that go beyond the scope of your home policy.

3. Serious Car Accidents

Car accidents are one of the most common sources of liability claims. Even if you have strong auto insurance, coverage limits can be reached quickly in serious cases.

Consider a multi-vehicle collision that results in injuries requiring long-term care or loss of income for those involved. If your auto policy limits are exhausted, you’re personally on the hook — unless you have umbrella coverage to pick up the rest.

4. Hosting Gatherings

Whether it’s a backyard barbecue, holiday dinner, or birthday celebration, hosting guests can carry liability risks.

A guest slips and falls on your icy walkway.
A neighbour’s child is injured while playing in your yard.
Someone damages personal property during the event.

Even close friends or family may feel forced to pursue legal action if medical bills or property repairs are involved. Umbrella coverage ensures those costs don’t fall squarely on your shoulders.

5. Frequent Travel

Travelling is exciting — but it also comes with uncertainty. An accident abroad could result in liability claims you’d never anticipate.

Umbrella coverage protects you while you’re outside of Canada, helping cover legal costs and settlement amounts that your standard policy won’t extend to internationally.

How Much Coverage Do You Really Need?

Coverage needs vary, but most umbrella policies start at $1 million in additional liability protection, with options to increase coverage to much higher amounts.

When deciding, consider:

The value of your assets (home equity, savings, investments)
Your future earning potential
Lifestyle factors (Do you host often? Travel frequently? Have kids at home?)

An experienced insurance broker can help determine the right amount of protection for your situation.

Common Questions About Personal Umbrella Coverage

Q: Is personal umbrella coverage expensive?
A: Surprisingly, no. For the amount of extra protection it provides, umbrella coverage is relatively affordable — often just a few dollars a day.

Q: Do I need to have both home and auto insurance to qualify?
A: Typically, yes. Umbrella coverage works in conjunction with your primary policies, so most insurers require you to carry both.

Q: Does umbrella coverage only protect against lawsuits?
A: No. It also covers medical bills, damages, and settlement costs — not just legal defence fees.

Q: Will it cover incidents involving my rental property?
A: Yes, many umbrella policies extend to rental units you own, but the specifics vary. Always review your policy with a broker.

Why Work with Kelowna Valley Insurance

We understand that liability risks don’t always come with warning signs. That’s why we take the time to get to know your lifestyle and tailor coverage to fit your real-world risks.

Our brokers can:

Review your existing policies for gaps
Recommend affordable umbrella coverage tailored to your needs
Access multiple insurance providers to get you the best protection
Explain everything in clear, straightforward terms

Secure Your Future Today

Life is unpredictable — and lawsuits can happen when you least expect them. Personal umbrella coverage provides the peace of mind that your assets, savings, and financial future are protected.

Contact us TODAY to learn more about how umbrella insurance can work for you. With offices in both Orchard Plaza and Glen Park Village, we’re here to help Kelowna residents make smarter, safer insurance choices.

Strata Insurance in BC: A Complete Guide for Strata Owners

August 23, 2025/in Blog Content /by tracy

Strata Insurance in BC: Protecting Your Home and Shared Property with Comprehensive Coverage

Strata living in BC – it’s so much more than just a shared roof. Across British Columbia, over 1.5 million people live in strata communities — from cozy duplexes and townhomes to high-rise condominiums and bare land stratas. Strata living offers many benefits: shared maintenance, community amenities, and often a lower-maintenance lifestyle.

But it also brings a unique set of responsibilities — especially when it comes to insurance. Owning a strata property means you’re protecting not just your own home but also your share of the entire complex.

We work with both strata corporations and individual owners to ensure their coverage is complete, cost-effective, and tailored to their unique property. Whether you own a single unit or help manage a multi-building strata, knowing how strata insurance works is essential to safeguarding your investment.

Key Takeaways

Strata corporations must insure common property at full replacement value.
Individual owners still need their condo (unit) policy for belongings, upgrades, liability, and deductible assessments.
Deductibles on building policies can be substantial — owners should have coverage for these costs.
Strata insurance needs vary based on property type, size, and bylaws.

How It Works: Strata Insurance in BC

When you buy into a strata property, you own your unit and a proportionate share of the common property — things like the roof, lobby, landscaping, and other shared spaces.

Under BC’s Strata Property Act, this shared ownership means insurance is split into two main areas:

Strata Corporation Insurance – Covers the building(s), common property, and common assets.
Individual Unit Owner Insurance – Covers your personal property, improvements, liability, and potential cost-sharing for building policy deductibles.

What the Strata Corporation Covers

Legally, the full replacement cost of common property gets insured by the strata corporation. This typically includes:

The building(s) and structures identified on the strata plan
Common areas like hallways, elevators, lobbies, gyms, and parking facilities
Original fixtures in each unit (as defined in the bylaws)
Upon request, common assets such as shared maintenance equipment and furniture can be included.
Commercial General Liability (CGL) for injury or property damage claims involving common property

These insurance costs are paid from strata fees and are reviewed annually. Responsible strata councils commission updated insurance appraisals regularly to ensure coverage matches current rebuilding costs.

Your Personal Unit Policy – What It Covers

A common misconception among strata owners is that the strata corporation’s insurance covers everything. In reality, it does not protect your personal possessions or improvements.

Your unit policy should cover:

Furniture, clothing, and electronics and portable appliances like washer, dryer and fridge for example
Improvements and betterments made to your unit
Your personal liability if you cause damage to another unit or the common property
Deductible assessment coverage (for your share of building policy deductibles)
Additional living expenses if your unit becomes uninhabitable due to a covered loss

Having this coverage ensures you’re not left paying out-of-pocket for damage, repairs, or legal costs.

Small Stratas Still Have Big Responsibilities

From a modest duplex to a three-unit townhouse strata, the corporation is legally required to insure the common property. Smaller stratas may operate informally, but they must still meet BC’s Strata Property Act requirements.

Bare land stratas can be misleading — the homes may appear like single-family dwellings, but the community often shares private roads, utilities, or green spaces. These shared elements still require strata corporation coverage, while each homeowner insures their dwelling separately.

Why Deductible Coverage Is Critical

Deductibles for strata building insurance are often much higher than homeowners expect — sometimes ranging from $25,000 to $100,000 or more. If damage originates from your unit, the strata corporation may require you to pay the deductible, even if the incident wasn’t intentional.

Without deductible assessment coverage in your personal condo policy, this expense would come directly from your savings.

Extra Coverages to Consider

Depending on location and risk factors, your strata corporation and your personal policy may benefit from additional coverage:

Earthquake insurance – Vital in parts of BC prone to seismic activity, though it often comes with high deductibles.
Overland flood insurance – Protects against water damage from heavy rain, snowmelt, or rising rivers/lakes.
Sewer backup insurance – Covers damage from wastewater or sewage backing up into the building.

Best Practices for Strata Councils

Update insurance appraisals every three years (and review coverage annually)
Keep owners informed about changes in the building’s insurance policy or deductibles
Create and maintain a preventative maintenance plan to reduce claims
Consider bylaws requiring certain owner coverages, such as earthquake or deductible coverage

Best Practices for Strata Owners

Request a copy of the building’s insurance declaration each year
Keep a detailed inventory of your personal property and unit upgrades
Ensure your unit policy includes deductible assessment coverage
If you rent out your unit, carry landlord’s insurance and require tenants to have renters’ insurance

FAQ – Strata Insurance in BC

Q: Do I still need condo insurance if my strata has a building policy?
A: Yes. The building policy covers common property and original fixtures, not your personal belongings, upgrades, or personal liability.

Q: What happens if a loss starts in my unit but damages the building?
A: The strata corporation may require you to pay the building policy deductible, which could be tens of thousands of dollars.

Q: How do I know if I have enough coverage?
A: Review both your strata’s building policy and your personal policy with a licensed insurance broker to ensure there are no gaps.

Q: Are earthquakes and floods covered automatically?
A: No. These are often optional coverages with separate deductibles. Check your policy or speak with your broker to add them.

Work with an Insurance Broker Who Understands Strata

Strata insurance can be complex, but with the right guidance, you can make sure every risk is covered. We work with multiple insurers to find the most competitive rates and comprehensive coverage for both strata corporations and individual unit owners.

Whether you sit on a strata council or own a single condo unit, we can:

Review your current policies for gaps
Explain your coverage in plain language
Provide quotes from multiple providers
Offer fast, friendly, and local service

Protect Your Strata!

Your strata property is more than just a place to live — it’s a shared investment in your home and community. Protect it with the right strata insurance for both your building and your personal unit.

Contact us today or visit our convenient Orchard Plaza (two doors up from Winners) or Glen Park Village in Glenmore (behind the McDonalds restaurant) locations to speak with a licensed broker.

kelowna valley insurance - Course of Construction Insurance

Course of Construction Insurance in BC: Essential Protection for Builders and Owners

July 15, 2025/in Blog Content /by tracy

Safeguard Your Project from Start to Finish with Course of Construction Insurance

From foundation pour to final inspection, every construction project carries risk. Whether you’re a builder developing a commercial plaza in Kelowna or a property owner overseeing a custom home build, Course of Construction insurance is critical to protecting your investment while it’s still under development.

We understand how much planning, capital, and coordination go into every build. That’s why we offer flexible, comprehensive Course of Construction insurance policies to give builders and owners peace of mind from the moment ground is broken until the keys are handed over.

Key Takeaways

Course of Construction insurance (also known as Builder’s Risk) protects against damage or loss during a building’s construction phase.
Coverage can be arranged by the builder or property owner.
The insured value should reflect the full replacement cost of the completed project.
Wrap-up liability and equipment breakdown coverage may be included or purchased separately.
Policies must be in place before construction begins for full protection.

What Is Course of Construction Insurance?

Course of Construction insurance, often referred to as Builder’s Risk insurance, is a specialized policy that covers the physical structure under construction, along with materials and fixtures, against loss or damage from events such as:

Fire
Theft
Vandalism
Explosion
Wind or hail
Accidental damage during construction

Without this coverage, an unexpected loss can devastate your project’s timeline and budget. Imagine an electrical fire destroying months of work — without the right protection, you may be left to absorb the entire cost of repair or rebuild.

Who Needs Course of Construction Insurance?

Any individual or company involved in a construction or major renovation project should consider this essential coverage. This includes:

Property owners
General contractors
Developers
Commercial landlords
Custom home builders

At Kelowna Valley Insurance, we work with clients across the Okanagan and beyond, from small commercial renovations to multi-unit residential and industrial developments. Whether you’re overseeing a single build or multiple projects, we’ll ensure you’re covered every step of the way.

Who Can Purchase the Policy?

Course of Construction insurance can be purchased by either the:

Property owner
General contractor
Or arranged jointly

Regardless of who initiates the policy, it typically includes the financial interest of both parties, along with subcontractors and other key stakeholders. Our experienced brokers will guide you through policy options to ensure that all parties are properly insured.

When Should the Policy Start?

The answer is simple: before construction begins.

Waiting until your project is already underway can result in coverage complications, premium surcharges, or ineligibility for certain protections. Insurers price these policies based on the full timeline and scope of the build. A delay in securing coverage could mean gaps in protection—or no coverage at all.

Start your policy before the shovel hits the ground. Our team can help you plan accordingly to avoid interruptions or exposure to risk.

What’s Covered Under a Course of Construction Policy?

Typical Course of Construction insurance policies include protection for:

Building materials stored on- or off-site
Structure and fixtures under construction
Labour costs and value of work completed
Soft costs like financing, permits, and fees (when added as an endorsement)

We’ll help you assess the correct replacement cost value of your project to ensure your coverage limits are sufficient in the event of a total loss.

Add-Ons and Related Coverages to Consider

1. Wrap-Up Liability

A wrap-up liability policy covers all parties involved in the project — owner, general contractor, subcontractors, consultants — under one umbrella. It simplifies paperwork and ensures everyone has consistent liability protection in the event of a third-party injury or property damage.

Benefits include:

Dedicated coverage limits for the project
Simplified claims process
Fewer gaps in liability coverage
Reduced administrative burden

2. Equipment Breakdown Insurance

Standard builder’s risk policies often exclude mechanical breakdown. Construction equipment, HVAC systems, electrical systems, boilers, and other mechanical components are vulnerable to sudden failure — especially during testing and commissioning.

Project Equipment Breakdown Insurance bridges that gap by covering:

Accidental breakdown
Electrical failures
Pressure system damage
Resulting delays in completion

This coverage can be especially important on commercial and industrial builds with high-tech systems or complex infrastructure.

Why Replacement Cost Matters

Course of Construction insurance is written on a replacement cost basis, meaning it pays to rebuild or restore the project based on current construction costs — not market value or depreciated value.

To avoid being underinsured, you’ll want to:

Accurately estimate the completed project value
Include costs for materials, labour, and soft expenses
Consider inflation or rising construction costs

We’ll help you arrive at a realistic replacement value so your project is fully protected, even in a worst-case scenario.

Real-Life Example

Imagine your commercial warehouse project in Vernon is 85% complete when a fire damages the interior framework. Without Course of Construction insurance, you’re on the hook for the entire rebuild — likely hundreds of thousands of dollars. With the right policy in place, your insurer covers the loss, and your project stays on track.

Common Questions About Course of Construction Insurance

Q: Is Course of Construction insurance mandatory?
A: Not legally, but it’s often required by lenders, municipalities, or contract agreements.

Q: Does it cover liability?
A: No — unless you add wrap-up liability. Course of Construction protects physical property.

Q: Can I add coverage mid-project?
A: It’s best to start before construction begins, but some insurers may approve mid-project coverage, often with higher premiums.

Q: What happens if materials are stolen from the site?
A: Theft is typically covered, as long as proper site security and storage protocols are followed.

Q: Does the policy end when the building is completed?
A: Yes, or when the building becomes occupied. It transitions into a standard commercial or property insurance policy at that point.

Get a Tailored Quote from Kelowna Valley Insurance

For over 40 years, Kelowna Valley Insurance has been helping BC residents and businesses navigate the complexities of construction and property coverage. We’re your local experts — whether you’re developing a retail strip north of the city or a custom home on the lake.

We’ll walk you through:

Project timelines and estimated values
Required coverages and exclusions
Additional options like wrap-up liability or equipment breakdown
Policy start dates and documentation

We work with both private markets and trusted national insurers to get you the right protection at competitive rates.

Let’s Build Something Great — And Protect It

At Kelowna Valley Insurance, we help you focus on your build while we handle the risk. Every project is different — and so is every policy. We’re here to answer your questions, compare options, and ensure your Course of Construction insurance is built for success.

Contact us today or visit one of our two convenient Kelowna locations — in Orchard Plaza or Glen Park Village — and speak to a broker who understands construction, risk, and your bottom line.

Replacement Cost Coverage: Protect the Full Value of Your Vehicle

May 22, 2025/in Blog Content /by tracy

Drive with Confidence with Replacement Cost Insurance

Not all insurance is created equal when it comes to protecting your vehicle. We want to help you stay ahead of surprises—and depreciation is one of the biggest. If you’re in an accident and your car is a write-off, basic auto insurance only pays Actual Cash Value (ACV) — the market value of your vehicle at the time of the loss, factoring in depreciation. That’s often much less than what you paid for your car. That’s where Replacement Cost coverage comes in.

This essential add-on ensures you aren’t left in a financial hole after a total loss. Whether buying a brand-new vehicle or recently upgraded, Replacement Cost protection helps you recover the full value of what you had — not just what it’s worth today.

Key Takeaways

Replacement Cost coverage pays for a brand-new equivalent vehicle — not depreciated value.
Available through ICBC or private insurers, with longer terms from the private market.
Designed for new or newer vehicles, typically within the first 3–5 model years.
Provides financial protection for a write-off, theft, or unrecoverable damage.
Talk to one of our brokers to review your eligibility and options.

Replacement Cost Coverage–What Is It?

Replacement Cost coverage (also known as Limited Depreciation Coverage or New Vehicle Protection) is an optional insurance add-on that protects your vehicle’s full purchase value in the event of a total loss claim, like a major accident, fire, or theft.

Instead of getting the current market value (which depreciates significantly, especially in the first few years), you receive enough compensation to:

Replace your vehicle with a new model of the same make and trim, or
Receive reimbursement for the original purchase price (depending on your policy terms)

This can save thousands of dollars — especially if your vehicle is only a few years old.

Why Depreciation is a Big Deal

Most vehicles lose a minimum of 15% to 20% of their value annually, sometimes more, depending on make, model, and market conditions.

Let’s say you purchased your new car for $50,000. Three years later, it’s written off after an accident. Without Replacement Cost coverage, your payout could be $30,000 or less, depending on mileage and wear. That gap — up to $20,000 — is yours to absorb unless you’re adequately covered.

Who Offers Replacement Cost Coverage in BC?

In British Columbia, Replacement Cost coverage is available from both ICBC and private auto insurance companies. Each has different rules and limits:

ICBC Replacement Cost Options

ICBC offers a Limited Depreciation Endorsement, which typically provides coverage for:

Vehicles up to 2 model years old at the time the policy is purchased
Coverage for up to 3 years from the date of vehicle delivery
Payable only if the loss is covered under your collision or comprehensive policy

It’s a solid option for those with ICBC-only policies, but it tends to be more limited in term length.

Private Market Replacement Cost Options

Private insurers offer broader and often longer-term coverage — some plans extend up to 5 years or more, with eligibility for:

Vehicles up to 3 model years old at the time of purchase
Higher-value vehicles or specialty vehicles
Enhanced flexibility in how the replacement value is calculated

These products are an excellent choice for drivers looking to get the most comprehensive protection for their investment. At Kelowna Valley Insurance, we work with several reputable private insurance providers to find the best match for your vehicle and budget.

Who Should Consider Replacement Cost Coverage?

If you:

Own or lease a new vehicle
Have a high-value or luxury model
Want protection from financial loss after depreciation
Are you financing your vehicle (and want to avoid paying off a loan for a totalled car)

Then, we strongly recommend Replacement Cost.

Without it, you risk walking away from an accident with a bill far greater than the value of your vehicle — or worse, still owing money on a car you can no longer drive.

Real-Life Example: Why It Matters

Imagine you buy a 2023 SUV for $48,000. Just two years later, it’s totalled in a winter collision. The actual cash value? Around $32,000 — and that’s what basic insurance would cover.

With Replacement Cost coverage, you’re eligible for a new 2025 SUV of the same model and trim, or reimbursement closer to the full $48,000 you spent initially.

That peace of mind is well worth it.

How to Add Replacement Cost to Your Policy

Adding Replacement Cost to your auto policy is easy with Kelowna Valley Insurance. As a full-service insurance broker in Kelowna, we:

Compare ICBC and private market options
Help determine your eligibility based on vehicle age and condition
Explain the terms, duration, and benefits of each plan
Customize your coverage to match your budget and driving habits

We’ve been helping Kelowna drivers since the 1970s and have the experience to guide you through the options clearly and confidently.

Let’s Review Your Options Together

Whether purchasing a new vehicle or renewing your existing policy, now is the perfect time to ask us about Replacement Cost protection. We’ll review your current coverage and make sure you’re fully protected against the risks of depreciation.

Visit us at either of our two convenient locations:

Orchard Plaza – two doors up from Winners
Glen Park Village in Glenmore – behind McDonald’s

Or give us a call — we’re happy to help you find the proper protection for your vehicle, your life, and your peace of mind.

Replacement Cost Coverage–Common Questions

Q: Is Replacement Cost available for used vehicles?
A: No. It’s typically only available for new vehicles within a few model years of purchase.

Q: Can I add it after I’ve already insured the car?
A: Yes, if your vehicle still meets the eligibility criteria. Ask us — we’ll check your options.

Q: Does it cost a lot more?
A: Not usually. It’s a small additional premium compared to the protection it provides.

Q: Is Replacement Cost the same as GAP insurance?
A: No. GAP covers the difference between your vehicle loan and its ACV. Replacement Cost covers the value of a brand-new vehicle or your purchase price.

Q: Do I need to go with ICBC or private?
A: That depends on your vehicle and needs. We’ll help you compare both options to get the best fit.

Ready to protect your investment the smart way?

Talk to us TODAY about adding Replacement Cost to your auto policy — and drive with peace of mind.

Rented Vehicle Insurance: Protect Your Adventures!

April 23, 2025/in Blog Content /by tracy

Understand Rented Vehicle Insurance for Stress-Free Travel Across Canada and the USA

Are you planning to rent a vehicle for a road trip, business travel, or simply while your car is in the shop? Rented Vehicle Insurance protects you from unexpected costs if something goes wrong. We make getting the right rented vehicle coverage easy, whether you’re renting for a day, a week, or longer.

Key Takeaways:

Rented Vehicle Insurance covers own damage and liability for rental cars.
Available as a separate ICBC policy or through private insurance options.
Coverage is valid in Canada and the USA, subject to rental duration period and vehicle weight limits.
Check with our brokers for the best solution based on your rental plans.

What is Rented Vehicle Insurance?

Rented Vehicle Insurance provides financial protection when you drive a rental car, covering both damage to the rental vehicle (own damage) and third-party liability. Rather than relying solely on the rental company’s expensive insurance options, BC residents can purchase more affordable and often more comprehensive rented vehicle coverage from ICBC or private insurers through Kelowna Valley Insurance.

This insurance is perfect for:

Vacation rentals
Temporary vehicle replacement
Business or work-related rentals

Our team will guide you through selecting the best plan for your needs, ensuring you’re protected without overpaying.

How Does Rented Vehicle Insurance Work in BC?

We offer Rented Vehicle Insurance in two ways:

1. Separate Rented Vehicle Policy (ICBC)

ICBC offers a stand-alone rented vehicle policy that can be purchased for a specific rental period. Premiums are calculated based on the number of days you require coverage, making it a flexible and cost-effective solution.

Key features:

Daily premium rates
Covers own damage and liability
Valid in Canada and the USA
Maximum rental period restrictions apply
Vehicles must be under 5,000 GVW (Gross Vehicle Weight)

2. Rented Vehicle Coverage Through Regular Auto Insurance

Many BC residents can also add optional rented vehicle coverage to their regular private auto insurance policy. This extension offers peace of mind if you rent vehicles occasionally and want to be automatically covered.

Note: Always verify your current policy, coverage limits, and any restrictions before relying on existing auto insurance for rented vehicle protection.

Why Choose a Broker for Rented Vehicle Insurance?

Navigating insurance options can be confusing. That’s where Kelowna Valley Insurance steps in. As a broker with access to multiple insurance companies, we can:

Compare coverage options and rates
Tailor a policy that fits your rental plans and travel needs
Help you understand policy limits, exclusions, and terms
Ensure you’re properly insured in Canada and the USA

We have been proudly serving Kelowna and Glenmore residents since the 1970s. Our experience and customer-first approach guarantee that your journey starts with confidence.

Important Considerations for Rented Vehicle Insurance

Before renting a vehicle, keep these important factors in mind:

Coverage Limits

Most rented vehicle policies have a maximum number of rental days permitted — typically it is 30 days. If you exceed this time frame, additional coverage may be necessary.

Vehicle Restrictions

Coverage generally applies to vehicles under 5,000 GVW. Heavy-duty trucks, large commercial vehicles, or specialty rentals may not qualify.

Geographic Limits

Rented vehicle insurance obtained in BC is valid only in Canada and the USA. Different insurance arrangements will be necessary if you’re travelling beyond these borders.

Policy Details

Each policy is unique. Always check for exclusions, deductible amounts, and whether the policy covers loss of use, towing, or administrative fees charged by the rental company.

Our brokers will ensure you have complete clarity before you hit the road.

FAQs About Rented Vehicle Insurance

Q: Can I buy Rented Vehicle Insurance for any type of vehicle?
A: No. The rented vehicle must be under 5,000 GVW, typically a standard passenger vehicle.
Q: Is Rented Vehicle Insurance valid internationally?
A: Coverage is valid only in Canada and the USA.
Q: How is the cost of Rented Vehicle Insurance calculated?
A: The premium is based on a daily rate and the number of days you require coverage.
Q: Can I add Rented Vehicle Insurance to my regular car insurance policy?
A: Yes, many private auto insurers offer optional coverage for rented vehicles as part of your regular policy. Ask our brokers for details.
Q: What happens if I exceed the maximum number of rental days?
A: You may need to purchase additional coverage or arrange a different insurance solution. Always plan ahead with your broker.

Why Kelowna Valley Insurance is Your Best Choice

When you choose Kelowna Valley Insurance, you choose experience, options, and service you can trust. Our mission is simple: the right products, excellent service, and the best people.

We are conveniently located at:

Orchard Plaza (two doors up from Winners)
Glen Park Village (behind McDonald’s in Glenmore)

Whether you’re travelling across the Okanagan or exploring the USA, let us help you rent with confidence. Our insurance professionals are ready to help you find the perfect Rented Vehicle Insurance policy for your plans — affordable, straightforward, and tailored to you.

Contact us TODAY or visit one of our two Kelowna locations to speak with a broker who understands your needs!

Holiday Travel Insurance: Peace of Mind for Your Winter Getaway

December 19, 2024/in Blog Content /by tracy

Protect your winter getaway with comprehensive holiday travel insurance.

Enjoy peace of mind with coverage tailored to your travel needs. Get a quote today!

As the holiday season approaches, the allure of a winter getaway becomes irresistible. Whether you’re dreaming of sun-soaked beaches, snow-covered ski resorts, or reconnecting with loved ones far from home, proper planning is essential to ensure your trip is memorable for all the right reasons. At Kelowna Valley Insurance Services, we know the importance of protecting your travel plans. That’s why we offer tailored holiday travel insurance solutions to give you peace of mind during your adventures.

Why Is Holiday Travel Insurance Essential?

Travel planning has grown increasingly complex in recent years, with health concerns, travel restrictions, and fluctuating schedules adding extra layers of uncertainty. Even the most well-prepared travellers can face unexpected challenges like flight cancellations, lost luggage, or medical emergencies abroad.

Holiday travel insurance is your safety net, covering unforeseen expenses so you can create lasting memories instead of worrying about potential disruptions.

What Can Holiday Travel Insurance Cover?

Our travel insurance options go beyond the basics to provide comprehensive coverage, including:

Emergency Hospital and Medical Expenses: Protect yourself from costly out-of-province or out-of-country medical bills.
Trip Cancellation and Interruption: Reimbursements for prepaid travel costs if you need to cancel or cut your trip short for covered reasons.
Baggage Coverage: Compensation for lost, stolen, or delayed luggage.
Annual Multi-Trip Plans: Ideal for frequent travellers, offering coverage for multiple yearly trips.
Snowbird Coverage: Customized plans for extended stays in warmer climates.
Non-Medical Coverage: Options include flight accidents and other travel-related incidents.

We work with multiple insurance providers to ensure you receive the best coverage at an affordable rate.

Tailored Insurance for Every Type of Traveler

The Weekend Warrior

If you’re taking a quick trip across the border, our single-trip insurance plans offer robust coverage for short-term travel. Protect yourself against unexpected medical emergencies or trip interruptions without overpaying for unnecessary extras.

The Family Vacationer

Travelling with your loved ones? Our family plans to cover the entire household, ensuring everyone is protected without needing separate policies.

The Frequent Flyer

Our annual multi-trip insurance is the perfect solution for those who travel multiple times a year. With one comprehensive policy, you’re covered for every adventure, whether a business trip or a last-minute holiday escape.

The Snowbird

Escape the winter chill with our snowbird insurance plans. Designed for long-term travellers, these plans include extended medical coverage to enjoy your warm-weather retreat worry-free.

Why Choose Kelowna Valley Insurance Services?

With over 50 years of experience serving the Kelowna community, we pride ourselves on delivering exceptional service and customized insurance solutions. As an independent broker, we have access to various insurance companies, ensuring you receive a policy tailored to your specific needs.

Our knowledgeable team is here to simplify purchasing holiday travel insurance. Whether you visit us at Orchard Plaza or Glen Park Village or purchase your policy online, we make securing the protection you need easy.

Quick and Convenient: Buy Travel Insurance Online

Travel insurance should be simple, not stressful. That’s why we’ve made it easy to get a quote and purchase coverage online. In just a few clicks, you can secure a policy that protects you against the unexpected, from medical emergencies to travel disruptions.

Travel with Confidence This Holiday Season

After waiting so long to explore the world again, don’t let worries about the unexpected ruin your plans. With Kelowna Valley Insurance Services, you can embark on your winter getaway knowing you’re protected by comprehensive, affordable travel insurance.

Visit us in person or ONLINE to find the perfect policy for your holiday travels. Let us help you make your winter adventure a safe and stress-free experience.

Commonly Asked Questions About Travel Insurance

1. Do I really need holiday travel insurance?

Yes. Without insurance, you could face significant out-of-pocket expenses for medical emergencies or travel disruptions, especially when travelling internationally.

2. What is covered under trip cancellation insurance?

Trip cancellation insurance typically reimburses prepaid, non-refundable expenses if you cancel your trip for a covered reason, such as illness, severe weather, or other emergencies.

3. How do I know which policy is right for me?

Our brokers can help you assess your travel plans and recommend a policy that fits your needs, whether a single-trip plan, annual multi-trip plan, or specialized snowbird coverage.

4. Can I purchase travel insurance online?

Absolutely! Get a quote and buy your travel insurance policy from the comfort of your home.

5. Does travel insurance cover COVID-19-related issues?

Coverage for COVID-19 varies by policy and provider. Speak with our brokers to ensure your policy includes protection for pandemic-related incidents.

This holiday season, let Kelowna Valley Insurance Services provide you with the peace of mind to travel confidently. Contact us TODAY or visit our website to get started on your tailored holiday travel insurance plan.

Insurance for Landlords: Protecting Your Rental Property

October 15, 2024/in Blog Content /by tracy

Protect your rental property with comprehensive insurance for landlords; learn how to safeguard your investment.

Owning a rental property can be a rewarding investment. However, being a landlord also comes with unique responsibilities, especially regarding insurance. Whether you are renting out a single-family home, a condo, or a multi-unit property, it is paramount that you adequately protect your investment. Regarding insurance for landlords, we recommend working closely with a licensed broker who understands the intricacies of rented dwellings.

Insurance for Landlords – Reviewing Your Policy with a Licensed Broker

The first step in safeguarding your rental property is to review your insurance policy with a licensed broker. A broker can help you understand the specific coverage options and tailor a policy that meets your needs. Rental property insurance isn’t a one-size-fits-all solution. The requirements for coverage can vary depending on factors like the type of property, the number of units, and the occupancy status.

Your broker will walk you through the different components of your policy so you clearly understand the details of your coverage. They can also provide valuable advice on additional coverage options that may be beneficial, such as protection against loss of rental income or coverage for legal expenses in case of tenant disputes.

Understanding Replacement Cost: Protecting Your Investment

Replacement coverage is one of the most critical aspects of rental property insurance. This ensures that in the event of a covered loss, you have enough coverage to rebuild or repair it to its original condition without taking a hit on your finances. However, determining the correct replacement cost can take time and effort.

Many landlords make the mistake of insuring their property based on its market value, which doesn’t account for the cost of rebuilding. Market value can fluctuate based on location and real estate trends, but the cost to rebuild your property remains relatively constant. A licensed broker will help you calculate an accurate replacement cost to ensure complete coverage in the case of significant damage.

Do You Need to Insure Appliances?

Another common question landlords face is whether they need to insure the appliances in their rental units. The answer largely depends on who owns the appliances and their value. If you provide the appliances as part of the rental agreement, including them in your insurance coverage is wise. This typically falls under contents coverage, which protects against loss or damage to your provided appliances.

However, if tenants bring appliances, they are responsible for insuring them. A broker can help you understand the nuances of content coverage and ensure that any valuable appliances you provide are adequately insured.

Rental Income: Safeguarding Your Earnings

Rental income is one of the most attractive aspects of owning a rental property but also needs protection. What happens if your property becomes uninhabitable due to a covered loss, like a fire or flood? Without the proper insurance, you could be left without rental income while the property is being repaired.

Loss of rental income coverage can be added to your rental property insurance policy to protect against this risk. This coverage ensures that you continue to receive rental income even if your property is temporarily uninhabitable due to a covered event. It’s an essential safeguard for landlords who rely on rental income to cover mortgage payments and other expenses.

Discuss Occupancy Rules with Your Broker

When renting out your property, it’s essential to understand how occupancy affects your insurance coverage. Most insurance companies have strict rules about how many unrelated individuals can occupy a rental property. Typically, policies only cover a maximum of two (or less common up to 3) unrelated individuals living in the same unit. If your property is rented to more than the maximum unrelated tenants that your specific insurer allows, your insurance may be void, leaving you unprotected in case of a claim.

Before renting your property, discuss the occupancy rules with your broker to ensure your policy remains valid. If you plan to rent to more than two unrelated individuals, your broker can help you find a policy that accommodates this arrangement or give you valuable advice on the necessary steps to stay compliant.

The Importance of Regular Policy Reviews

As a landlord, your insurance needs may change over time, whether due to property upgrades, changes in occupancy, or shifts in the rental market. Regularly reviewing your insurance policy with your broker is crucial to ensure your coverage meets your needs.

At Kelowna Valley Insurance, we’re here to help you navigate the complexities of rental property insurance. Our licensed brokers have the expertise to guide you through every step, from calculating replacement costs to ensuring your rental income is protected. Contact us today to schedule a policy review and ensure your rental property is fully protected.

CONTACT US to help you rest easy knowing that your investment is secure.

BC Auto Insurance and a BC Parks License Plate!

September 18, 2024/in Blog Content /by tracy

Support conservation with a BC Parks License Plate. Choose from 3 stunning designs and give back to BC’s natural beauty!

Are you tired of the same old standard license plate? Ready to personalize your vehicle while making a meaningful impact in your community? We have the perfect solution for you. With a BC auto insurance plan, you can protect your vehicle and support the stunning natural beauty of British Columbia’s provincial parks. Through ICBC’s partnership with BC Parks, choose from three different BC Parks license plates, with the net proceeds reinvested directly into the Parks Enhancement Fund.

Plus, if you want to personalize your ride further, we can help you apply for a custom vanity plate!

Why Choose a BC Parks License Plate?

British Columbia is renowned for its breathtaking landscapes, and BC Parks preserves and protects over 1,000 provincial parks and protected areas across the province. These natural spaces are essential to the well-being of our environment, offering recreational opportunities for millions of visitors each year, providing habitats for diverse wildlife, and maintaining the health of our ecosystems.

When you insure your vehicle with us, you can help preserve these beautiful places for generations. These BC Parks license plates feature designs celebrating iconic scenes throughout our province. This is a unique way to show appreciation for BC’s natural beauty every time you hit the road.

Three Stunning BC Park Designs to Choose From

We offer three unique BC provincial park-themed license plates that allow you to showcase your love for British Columbia’s natural beauty. Each design features iconic imagery that represents some of the most cherished natural landmarks in the province:

The Elusive White Kermode Bear. Also known as the Spirit Bear, this rare and majestic animal lives in the Great Bear Rainforest. The Kermode bear plate symbolizes the rich biodiversity of BC’s wilderness and is perfect for anyone who feels a deep connection to the province’s wild and untamed beauty.
The Snow-Capped Purcell Mountains. This design highlights the grandeur of the Purcell Mountain range, with its jagged, towering peaks and year-round snow cover. This plate is ideal for lovers of outdoor adventures, from skiing to hiking, and it captures the majestic spirit of BC’s mountain landscapes.
The Beautiful Porteau Cove Overlooking Howe Sound. This plate features a serene view of Porteau Cove and showcases the tranquil waters and stunning coastal vistas of Howe Sound. It’s perfect for those who appreciate BC’s coastal beauty and want to be reminded of their favourite scenic spot whenever they get behind the wheel.

How the PEF Works

When you purchase a BC Parks-themed license plate, the net proceeds go directly into the PEF. BC Parks is dedicated to protecting and managing BC’s outstanding parklands to preserve their natural beauty and diverse environments for future generations. It ensures that outdoor recreational opportunities across the province are high-quality and safe while remaining compatible with environmental conservation. Additionally, the Fund helps contribute to reconciliation with Indigenous Peoples, honouring their deep connection to the land and respecting their teachings, traditions, and practices within these territories.

This fund helps to ensure that provincial parks remain well-maintained, sustainable, and accessible for everyone. It supports projects such as:

Trail maintenance to ensure that hiking paths and campsites remain safe and accessible.
Infrastructure improvements like updating visitor centres, washroom facilities, and parking areas.
Conservation efforts help protect wildlife habitats, preserve ecosystems, and maintain the natural beauty of the parks.
Educational programs that promote environmental awareness and encourage responsible outdoor recreation.

By insuring your vehicle with us and choosing a BC Parks plate, you’re not just enhancing the look of your car; you’re also investing in the future of BC’s parks.

Looking for Something More Personal? Apply for a Custom Vanity Plate!

In addition to offering the BC Parks license plates, Kelowna Valley Insurance is proud to provide our customers with the option to apply for a custom vanity plate. Whether you want to showcase your nickname, business, or favourite hobby, our team can guide you through creating a personalized plate that’s uniquely yours. Custom vanity plates allow you to express yourself while driving and add a personal touch to your vehicle.

Why Insure Your Automobile with Kelowna Valley Insurance?

We believe auto insurance should be straightforward, affordable, and tailored to your needs. Our experienced insurance brokers are here to help you find the right coverage for your vehicle, ensuring that you’re protected on the road. We pride ourselves on providing excellent customer service, and by partnering with BC Parks, we offer you the added benefit of contributing to preserving our natural spaces.

When you choose to insure your automobile with us, you’ll receive:

Comprehensive coverage options to suit your specific driving needs.
Competitive rates that fit your budget.
Friendly, knowledgeable staff ready to assist you with any questions or concerns.
Exclusive access to BC Parks-themed plates and the ability to apply for custom vanity plates.

Ready to make a statement with your license plate and support BC’s parks? Visit us to learn more about our BC auto insurance options and the available BC Parks license plates. Our team will be happy to walk you through the process, whether you want to switch your current license plate, purchase a new one, or apply for a custom vanity plate. Together, we can keep British Columbia’s provincial parks vibrant and thriving.

Make your mark on the road while making a positive impact—support BC Parks with Kelowna Valley Insurance!

Safeguard your home from devastating Kelowna wildfires

Essential Tips to Prepare for Another Season of Kelowna Wildfires

April 5, 2024/in Blog Content /by tracy

Safeguard your home from devastating Kelowna wildfires. Learn essential tips to be prepared and stay protected.

Wildfire season looms once again in BC and in our region. With evidence of small Kelowna wildfires already reported at this point in the season, residents of Kelowna need to understand the importance of being prepared.

The Insurance Bureau of Canada (IBC) is urging homeowners to get their homes ready for wildfire season is a timely reminder of the potential risks we face. With the devastation of the Traders Cove during the McDougall Creek wildfire of August 2023, preparedness is critical.

Rob de Pruis, national director of Consumer and Industry Relations at IBC, states, “As reported by the BC Wildfire Service, there are more than 90 active wildfires across the province, with many still burning from last year’s record-breaking season. The 2023 wildfire season was the most destructive in British Columbia’s history, and 2024 has the potential to be another intense wildfire year.”

Here’s how you can help ensure your home is wildfire-ready:

Year-round preparedness

Install and Maintain Alarms: Smoke and CO alarms are your first line of defence. Ensure they are installed, dust-free, and equipped with fresh batteries. Regular testing and replacement every 10 years are crucial for optimal performance.
Emergency Plan and Kit: Develop a comprehensive evacuation plan for your family and pets, and practise it regularly. Additionally, assemble a disaster safety kit containing essentials like food, water, pet crate and important documents.
Insurance Coverage Review: Familiarize yourself with your insurance policy, including coverage details and claim procedures. Keep your policy number and insurer’s contact information readily accessible for swift action in case of damage or evacuation.

Precautionary measures for areas at high risk for Kelowna wildfires

Home Preparation: Safeguard your home by ensuring roofs, exterior walls, and balconies are treated with flame-resistant materials. This proactive step can significantly mitigate fire risks.
Proper Storage: Keep flammable materials such as gasoline and solvents at least 10 metres away from your home to minimize ignition risks.
Debris Management: Regularly remove dry leaves, debris, and combustible garbage from around your property, especially if you have wood or vinyl siding.
Space Management: Maintain a clear zone of at least 10 metres around your home by removing shrubs, trees, and woodpiles. This helps create a defensible space that can deter wildfire spread.

Stay Informed and Vigilant

Weather Monitoring: Stay abreast of weather updates and fire danger ratings from local and provincial sources. Timely information empowers proactive decision-making.
Adherence to Bans and Restrictions: Obey fire bans and restrictions to prevent accidental ignitions. Your cooperation plays a crucial role in mitigating wildfire risks within our community.

With severe weather events causing substantial insured losses, the need for climate resilience is more pressing than ever. Proactive measures can significantly reduce the impact of wildfires on homes and communities. We can better protect our families and properties from potential devastation by implementing the recommended steps and staying vigilant throughout the wildfire season.

Remember, being prepared today ensures having a safer tomorrow. Is your home wildfire ready? Kelowna Valley Insurance is here to help you safeguard your home against wildfire risks with comprehensive coverage and expert guidance.

CONTACT US today to learn more about our insurance solutions tailored to your needs. Stay safe, stay prepared!

Money-Saving Tips for Winter Weather: Protecting Your Home and Wallet!

December 15, 2023/in Blog Content /by tracy

Prepare for the challenges of winter weather with our expert tips! Save money and stay cozy with greater peace of mind.

The arrival of winter weather brings with it the beauty of snowfall and cozy evenings by the fireplace. As beautiful and fun as the season is, it can also bring the possibility for expensive surprises, especially in your home. As the temperature drops, the risk of frozen pipes, increased heating costs, and other winter-related expenses can skyrocket.

That said, we have some valuable money-saving tips to share! Revel in the joy and exhilaration of the season, knowing that there are things you can do to help you protect your home and your wallet.

Better insulate your home

One of the most effective ways to save money during the winter freeze is to ensure your home is properly insulated. Poor insulation can lead to heat loss, causing your heating system to work overtime, which in turn can inflate your energy bills. To prevent this, consider:

Adding insulation to your attic and walls.
Sealing gaps around windows and doors with weather stripping.
Installing a programmable thermostat to regulate your home’s temperature efficiently.

Drafts and air leaks allow precious heat to escape from your home. This heat loss makes your heating system work harder. Perform a thorough inspection of your home and seal any gaps or cracks. You can use caulk or weatherstripping to seal leaks around doors and windows. This simple step can lead to substantial energy savings.

Service your heating system

A well-maintained heating system operates more efficiently and costs less to run. Before winter sets in, have your heating system serviced by a professional HVAC technician. They can clean and inspect your furnace or heat pump, replace filters, and ensure everything is in working order. Regular maintenance not only saves you money but also extends the lifespan of your heating equipment.

Beat the winter weather – consider a heat pump retrofit

While most of us in BC enjoy sustainable energy to heat our homes, hydroelectric power can still up during the colder months. And with the costs of propane marching steadily upward, home heating expenses are a consistent source of stress for many British Columbians.

Fortunately, as Canadians and residents of BC specifically, we have some great programs available to replace your old and inefficient furnace with a heat pump. Heat pumps are energy-efficient heating and cooling systems that can provide significant savings on your energy bills. They work by extracting heat from the outside air (even in cold weather) and transferring it into your home, making them a great option for more efficient and comfortable winter heating.

Retrofit grants for heat pump installation

Replacing your furnace with a heat pump can be a significant investment, but there are retrofit grants and incentives available to help offset the cost. In Kelowna and the surrounding areas, you can take advantage of various government and utility-sponsored programs that encourage the adoption of energy-efficient technologies. Here are some options to explore:

BC Hydro rebates: BC Hydro offers rebates for the installation of high-efficiency heat pumps. Depending on the type and efficiency of the system, you may qualify for substantial rebates to make the switch more affordable.
FortisBC rebates: FortisBC also provides incentives for upgrading to energy-efficient heating solutions, including heat pumps. Their rebates can help reduce the upfront cost of installation.
Government grants: There are provincial and federal government grants available for energy-efficient home upgrades. These grants can vary, but they often aim to promote energy conservation and reduce greenhouse gas emissions.

Investing in a heat pump not only lowers your winter heating bills but also contributes to a more sustainable and eco-friendly home.

Prevent frozen pipes

Frozen pipes are a common and costly problem during winter. To avoid the headache and expenses associated with burst pipes, take the following precautions:

Insulate exposed pipes.
Keep your home adequately heated, even when you’re away.
Let interior faucets drip slowly to keep water moving.
Know where your main water shut-off valve is located.

Winterize your garden and outdoor spaces

Don’t forget about your outdoors at the onset of the winter freeze. Taking the time to prepare your garden, patio, and other outdoor spaces will save you money and frustration in the long run. Here’s what you can do:

Trim tree branches to prevent them from falling on your home during winter storms.
Clean out your gutters to prevent ice dams.
Store outdoor furniture and equipment properly to prolong their lifespan.

Use energy-efficient lighting

Winter means shorter days and longer nights. Consequently, we increase our energy consumption just with our lighting alone. Consider switching to energy-efficient LED bulbs, which use significantly less energy than traditional incandescent bulbs. Additionally, make it a habit to turn off lights when not in use to further reduce your electricity bills.

Invest in a fireplace insert

Many of us love wintertime purely because of the joy and satisfaction of using our fireplaces. However, if you have a wood-burning fireplace, consider installing a fireplace insert. Fireplace inserts are more efficient at heating your home than traditional fireplaces, as they trap and circulate warm air. This can reduce your reliance on your central heating system and lower your energy bills.

Create a winter emergency kit

Prepare for winter emergencies by creating a kit that includes essential supplies like flashlights, batteries, blankets, and non-perishable food items. Being prepared can save you money on last-minute purchases during a power outage or severe winter storm.

We want you to enjoy our winters as much as possible. Saving money during these colder months will make winter just that much more pleasurable. By taking proactive measures to protect your home and reduce energy consumption, you can revel in the winter freeze without breaking the bank.

Do you have questions about protecting your home and home insurance? Kelowna Valley Insurance is here to provide you with valuable advice and coverage to safeguard your home and finances throughout the winter season. Stay warm and worry-free! TALK TO US.