Personal Earthquake Deductible Buydown
by Cansure
- Property and Casualty
- Buy-down the Earthquake deductible amount to as low as the greater of 5% of the policy limit or $10,000; with a maximum buy-down amount of $750,000 available. This is available for detached residential dwellings located in British Columbia, with up to 4 rental units eligible for coverage. Coverage must be carried on the homeowners' policy and homes must be built after 1965.
Product Overview
Personal Earthquake Deductible Buydown by Cansure is a property insurance solution designed for homeowners in British Columbia. It helps reduce the financial impact of high earthquake deductibles on residential properties.
This product allows policyholders to lower their earthquake deductible to as little as the greater of 5% of the policy limit or $10,000. The maximum buy-down amount available is $750,000, giving homeowners more control over their out-of-pocket costs after an earthquake.
About Personal Earthquake Deductible Buydown by Cansure
Coverage is available for detached homes built after 1965, including those with up to four rental units. The policy must be added to an existing homeowners’ insurance plan, making it a flexible option for many property owners.
This Personal Earthquake Deductible Buydown product is offered exclusively through Cansure and is only available to brokers with a Cansure contract. It is tailored for those seeking added financial protection in an earthquake-prone region.
For more details or to request a quote, brokers can use the ‘Contact Underwriter for Quote’ or review the product references on this page.
Personal Earthquake Deductible Buydown by Cansure FAQs
What is the maximum buy-down amount offered by Cansure?
The maximum buy-down amount available with Personal Earthquake Deductible Buydown by Cansure is $750,000. This allows homeowners to significantly reduce their earthquake deductible exposure in British Columbia.
Can the policy be added to any homeowners’ policy?
The product must be added to an existing homeowners’ insurance policy. It is not available as a stand-alone product and must be paired with property coverage.
Are rental units covered under Personal Earthquake Deductible Buydown by Cansure?
Cansure covers detached homes with up to four rental units within the property. The home must be located in British Columbia and meet all eligibility requirements.
Does Personal Earthquake Deductible Buydown by Cansure have a minimum deductible amount?
The deductible can be bought down to as low as the greater of 5% of the policy limit or $10,000. This minimum applies regardless of the policy’s original deductible.
Who provides the policy?
Cansure is the provider of Personal Earthquake Deductible Buydown by Cansure in British Columbia. The product is distributed exclusively through brokers who have a contract with the company.
What line of business does this Cansure product fall under?
Personal Earthquake Deductible Buydown by Cansure is part of the property insurance line of business. It is designed to help homeowners manage earthquake risk.
Is there a deductible for Personal Earthquake Deductible Buydown by Cansure itself?
The policy features a $0 deductible for the buy-down portion. This helps homeowners avoid extra out-of-pocket costs when using the product.
What type of coverage does Cansure provide?
Personal Earthquake Deductible Buydown by Cansure provides property and casualty coverage as an add-on to existing homeowners’ insurance. It is focused on reducing the financial impact of earthquake deductibles for eligible homes.
Can the policy be purchased by homeowners outside British Columbia?
Personal Earthquake Deductible Buydown by Cansure is only available to homeowners in British Columbia. Properties outside this region are not eligible for this coverage.
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