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What is it?

BC Earthquake Deductible Buyback (EDB) insurance is coverage for earthquake deductibles. This insurance is available through Bridges International Insurance Services, for properties located in British Columbia. You need to prepare for earthquake BC. The perfect solution for high earthquake deductibles.

How it works:

An average earthquake deductible is 8%, 10%, 15% or even 20%. This means that your earthquake deductible is equal to that percentage of what your home is insured for.

You may ask: why would I buy EDB insurance if my deductible is so high? The reason is that coverage is there for large or total losses. In the event of an earthquake, you may be able to avoid bankruptcy by purchasing earthquake coverage. In an example of a million dollar house with all of its additional coverages, a 10% deductible equates to $100,000. 

Question: Can you afford the earthquake deductible?

For instance, a dwelling insured at $500,000 with a 10% earthquake deductible will have a $50,000 earthquake deductible applied to restore/repair the building if a claim is made for earthquake damage. If a policy holder chooses to have EDB coverage, then the earthquake deductible will be paid by that policy, up to the limit purchased, subject to a $5,000 deductible.

Earthquake Deductible Buyback insurance coverage is available for all lines of business.

• Homeowners Coverage:
  You can purchase this coverage in order to protect your homes and personal property.
  
• Business Coverage:
  Business owners can also protect themselves in the event of a large or total loss due to an earthquake.
  
• Condo & Strata Deductibles:
  In addition to covering the contents, additional living expenses, betterments & improvements and earthquake deductible, this policy can include the remaining strata loss assessment coverage made necessary for an earthquake deductible of the building strata. All of this is available when earthquake coverage is triggered on the required underlying insurance policies.

For any questions, updated rates or comments related to our earthquake deductible buyback product, please contact us through the online quote request form.
Additional Coverage for $500,000 is available now.

Items to remember(Earthquake Deductible Buyback Insurance):

• Most locations qualify for coverage as long as you carry earthquake coverage on your primary policy.
• One location per contract therefore if you own multiple locations, discuss with us how many policies you should purchase.

We live in an area of the world where earthquake coverage is necessary.

Every insurance company is going to apply a separate deductible to earthquake coverage.
In other words, your standard home insurance deductible does not apply in the event of an earthquake loss. Are you prepared?

Don’t spend your savings on a deductible.

Bridges International Insurance Services: 1-888-267-4461 or info@biis.ca

With the latest renewal of our Lloyds contract, we are pleased to announce that we can now consider quoting the plumbing class. As this is a challenging class to write, we do want to highlight a number of eligibility criteria below: 

Eligibility:

• Minimum Premiums:
  • $1,000,000 – $2,500
  • $2,000,000  – $3,250
  • $5,000,000 to be can be considered
     
• Receipts less than $1,000,000 + 10% leeway for those accounts slightly over
• Minimum of 3 years in business
• Clean accounts only, or accounts with max 1 claim in the past 3 years (not greater than $10k total incurred) to be referred to Underwriters
• No work over 4 stories, no high-rise building work or work over 4 stories in a high rise building
• No boiler work
• No sprinkler work
• Any works in institutional/industrial buildings (airports, hospitals, schools etc) can be considered
• Ticketed plumbers only

Coverage – Limits:

• Max. $2,000,000
• Limits of up to $5,000,000 can be considered
• Min. Ded: $2,500 bi/pd ded
• Min. Ded: $5,000 bi/pd ded w/r/t Water Damage Claims for receipts under $500,000
• Min. Ded: $10,000 bi/pd  ded w/r/t Water Damage Claims for receipts over $500,000

Subjectivities / Wording:

• Standard Wordings to apply
• Burning Welding Cutting conditions to apply
• Sub-contractor conditions to apply in respect of any work subbed out
• Total Pollution Exclusion
• Wrap up liability Exclusion
• US Exclusion

Are you looking for surety bonds for following business? Then please contact us to meet your bond demand with competitive price.

A. Here are typical bonds under $50,000

• Canada Customs
• Excise – Brewers / Sprits and Tobacco
• Electrical Contractors License Bond
• Gas Contractors License Bond
• Prepaid Contractor Bond
• Foreign Immigration and Employment Agency
• Driver Training School
• Travel Agents Bond BC
• Direct Sellers
• Consumer Protection – Collection Agency
• Consumer Protection – Debt Repayment
• Real Estate Agent / Broker Bond
• City Trade Bonds – MB
• Private Investigators and Security Guards
• ATA Carnet
• Auctioneer
• AMVIC Consignment & Wholesale Bonds – AB
• Home Inspectors (include a copy of E&O Policy)
• Insurance Adjusters / Brokers
• Penal Bond (Other)

B. Fiduciary Bond

• Administration, Foreign Executors Bonds
• Guardianship Bonds / Committee Bonds

Daycares:

• Bespoke wording – providing Property, CGL, with Abuse and E&O offered for most facilities and risks.
• As low as $350 for Home Based Daycares, Min $500 for Licensed facilities.
• Stand-alone, no requirement for supporting policies.

Student Rental Home or House :

• Available on instant quotes + policy issuance through an online system
• Various discounts available – occupied by owner’s child or multi- locations
• Broad Form, Replacement Cost often available
• $1 or $2 Million Liability
• Optional coverage for rental income
• Financing available

Call us for details.