Some of the most important risks that Victoria house insurance covers are related to weather. In recent years. For example, water damage from rain and snow has overtaken fire in Canada as the largest category for claims.
Overall, Victoria’s climate is quite mild. The average annual precipitation is 28 inches, which is less than half the figure for Vancouver, and temperatures tend to be springlike, which reduces the risk of forest fires. Both factors help to lower home insurance costs.
On the other hand, Victoria, like anywhere else, is subject to the effects of climate change. Fewer trees (which help divert water from storm systems), rising sea levels and more intense storms will all serve to drive premiums up over time. Victoria is also situated in a very significant earthquake zone. You should be aware that earthquake protection is not included in regular insurance policies — it has to be purchased in addition to your base policy. Optional coverage is called an 'insurance rider’ or an ‘endorsement.’