High-Risk Homes in BC: How to Get Insured
BC homeowners know the drill: forest on one side, river on the other, and a roof that’s seen better days. You call it home, while Insurers call it “high risk”. Getting covered shouldn’t feel like a penalty. If you’re hunting for good high-risk home insurance BC can offer, start with what moves the quote: location, upgrades, and a company that actually writes these files.
Insurely lets you see real quotes for high-risk homes in minutes, adjust coverage, and move forward without phone tag.
What Makes a Home “High Risk” in British Columbia?
A combination of location, condition, and homeowner-related factors often defines high-risk properties. For example, homes near flood zones, forests, or far from fire stations are automatically considered higher risk, affecting home insurance premiums.
Insurely helps homeowners in BC find the right property insurance, even when their homes don’t meet the standard criteria for coverage.
Key Factors that Contribute to High-Risk Classification
Several factors play a role in a property being classified as high-risk. These factors contribute to higher premiums and may limit the coverage options available. Here are the key considerations:
- Location: Properties in flood zones or areas prone to natural disasters (like earthquakes or wildfires) face higher risks.
- Home Condition: Older homes with outdated plumbing systems, electrical wiring, or roofing often incur surcharges or exclusions.
- Claims History: Homeowners with frequent claims or a history of multiple claims within a short period may find it harder to get affordable insurance.
- Vacancy: Homes that are vacant or used as short-term rentals can be more prone to unnoticed issues, making them higher risk to insure.
Why High Risk Home Insurance BC Can Be Expensive
High-risk homes often come with higher premiums, due to the increased likelihood of damage or loss. Homeowners in British Columbia may see costs increase by 150-300% over standard insurance rates. Moreover, deductibles can range from $5,000 to $10,000, depending on the nature of the property.
- Location-related risks, such as proximity to flood zones or areas with high crime rates, push premiums up.
- Older homes with outdated systems are often considered a major liability for insurers due to their increased chance of needing repairs or replacements.
- Specialized coverage may exclude common damages like water damage or theft, which limits protection but reduces costs.
How Insurely Makes High Risk Insurance More Accessible
For homeowners facing high-risk classifications, finding the right insurance provider can be challenging. Many insurance companies are unwilling to take on high-risk properties, especially when frequent claims or poor credit scores are involved.
Insurely partners with specialized high-risk insurance brokers who work with non-standard insurance markets to provide coverage that other providers might reject.
- Specialized brokers: Insurely connects homeowners with brokers who have access to non-standard insurers, making it easier to secure coverage.
- Affordable rates: Despite higher risks, Insurely helps homeowners find competitive rates for high-risk insurance.
- Customized plans: Coverage is tailored to the specific risks of your property, with options for fire, flood, and even liability protection.
How Homeowners Can Lower Their High-Risk Classification
High-risk home insurance premiums often reflect the condition and age of the property, but that status isn’t permanent. Homeowners who invest in key upgrades, like modernizing outdated wiring, fixing aging plumbing, or replacing worn-out roofing, improve their standing with insurers by reducing the likelihood of large claims.
Regular maintenance plays a supporting role too, preventing issues from becoming costly problems. Safety upgrades, such as installing monitored alarm systems or leak detectors, may further strengthen a property’s risk profile and make it more attractive to certain insurers offering premium discounts.
| Improvement | Impact on Risk Profile | Potential Effect on Premiums |
|---|---|---|
| Upgrading electrical wiring | Reduces fire risk and increases safety | Likely to lower premiums |
| Replacing old plumbing systems | Prevents water damage and related claims | Reduces potential for water damage claims |
| Replacing the roof | Prevents damage from leaks and weather-related issues | Can lower premiums, especially if roof is over 20 years old |
| Installing security systems | Improves overall safety, deters break-ins, and reduces theft risk | May qualify for discounts on premiums |
| Regular home maintenance | Reduces risk of unnoticed wear and tear | Helps avoid escalation of claims, potentially lowering premiums |
What Coverage Options Are Available for High-Risk Homes?
High-risk insurance may not cover everything that a standard home insurance policy does. For instance, damage from general wear and tear, rust, or mold is typically excluded. However, there are still viable coverage options for high-risk properties, including:
- Basic coverage: Protects against major events like fire, wind, and theft, though exclusions may apply.
- Sewer backup and flood insurance: Homeowners in flood zones or areas at risk of water damage can add these coverages to their policy for more comprehensive protection.
- Liability protection: High-risk homes often carry greater liability, making this coverage especially important.
Why Insurely Is the Solution for High-Risk Homeowners
For BC homeowners dealing with high-risk home insurance, Insurely helps cut through the hurdles. Insurely’s platform allows homeowners to:
- Compare quotes from multiple insurance providers.
- Adjust coverage options based on their property’s specific risks.
- Access specialized brokers who have relationships with non-standard insurers, helping homeowners find coverage in otherwise hard-to-insure properties.
Whether you’re dealing with vacant home insurance, high-risk areas, or older homes, Insurely makes it easier to find affordable options that protect your most valuable asset.
The Takeaway
Finding reliable high-risk home insurance BC homeowners trust can feel limiting, especially when most insurance companies shy away from covering properties with older systems, frequent issues, or located in risk-heavy zones.
But options still exist. Insurely offers access to flexible coverage that factors in everything from claims history to location and condition, helping those with too many claims or past non-payment issues explore what’s still possible.
Pairing high-risk coverage with auto insurance or adding protection for additional living expenses can build a stronger safety net. The key is understanding which upgrades and habits shift the risk in your favour. Whether you’re insuring a rental, a vacation home, or your family’s main residence, knowing how risk is assessed can help you make decisions that lead to better rates and broader coverage over time.
Frequently Asked Questions
Can missed payments affect my ability to get home insurance?
Yes, missed payments or a non-payment history can lead some insurers to view you as a higher risk, which limits your coverage options or leads to denied applications.
Will insurance still cover a total loss if my property is high-risk?
High-risk homeowners may receive coverage for a total loss, but the policy limits and exclusions vary depending on the insurer and the property’s condition.
Do insurance companies provide home insurance for properties with past non-payment issues?
Some specialized providers do provide home insurance for clients with non-payment history, but the premiums are often higher, and coverage may come with stricter terms.
How do I pay for high-risk home insurance?
Most insurers offer flexible premium payment options, monthly or annually, but high-risk coverage may require upfront payments or larger deposits.
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