Jeff Shields RE/MAX Anchor Realty serving Qualicum Beach, Parksville, French Creek, Coombs of the Oceanside area on Vancouver Island British Columbia

Jeffery Shields - REALTOR

RE/MAX Anchor Realty
(Independently Owned and Operated)
113 West 2nd Avenue, PO Box 1890
Qualicum Beach, BC V9K 1T5 Canada
Cell: 250-240-5021
Bus: 250-752-2466
Fax: 250-752-2433
Toll Free: 800-668-3622

Home Insurance

Introduction

There has been growing concern in the real estate industry about the escalating cost and availability of property insurance. Some properties involved in insurance coverage issues have real or perceived environmental problems, such as oil tanks or mould. Other insurance issues develop because of outdated wiring or heritage status.

Issues

Home insurance companies have tightened their underwriting criteria and they're reluctant to take on risks that may not have bothered them in the past. What's at stake for you is not just your ability to get insurance coverage, but mortgage financing as well. Banks won't approve a home loan unless there is proof of insurance.

A number of home insurance issues have been identified that can impact the transaction process. These issues can include:

Source: CREA