Earthquake coverage gap persists for B.C. property owners, HDI executive warns
An HDI executive is warning that many British Columbia property owners still lack earthquake insurance, leaving them exposed to a major seismic risk. The comments point to a coverage-uptake gap rather than a confirmed change in insurance rules or pricing.
What happened
An HDI executive has warned that too many British Columbia property owners still do not have earthquake coverage. The warning highlights the province's exposure to seismic risk and the gap between that risk and the uptake of earthquake insurance.
What it means for consumers
Property owners without earthquake coverage could face large out-of-pocket repair or rebuilding costs after a quake. Standard home policies often treat earthquake damage as an exclusion or optional add-on, so consumers should check whether their policy includes quake protection and understand any percentage-based deductible. Strata owners should also review how their strata corporation's insurance and their own personal coverage interact.
What it means for premiums
No direct premium change has been announced.
Coverage considerations
Earthquake coverage in Canada is often sold as an endorsement or separate policy, and details can vary by insurer. Owners may need to consider deductible levels, limits, exclusions for related damage, and whether condominium or strata assessments would be covered. Because the warning concerns uptake rather than a specific product change, consumers should treat it as a prompt to review their existing coverage rather than evidence that terms have already changed.