Home Insurance Coverage Details
Understanding what your home insurance covers is essential. Here's a detailed look at the standard and optional coverages available through Marketlink Insurance Solutions.
Standard Coverages
Dwelling Coverage (Replacement Cost)
Your dwelling coverage protects the physical structure of your home — walls, roof, foundation, and permanently attached fixtures. With replacement cost coverage, your home is insured for the cost to rebuild it at current construction prices, not its depreciated value.
- Covers damage from fire, windstorms, hail, lightning, and other named perils
- Includes attached structures like garages and decks
- Replacement cost ensures you can rebuild to current standards
- Coverage amounts are based on your home's estimated rebuild cost
Personal Property Coverage
This coverage protects your belongings inside your home — furniture, electronics, clothing, appliances, and more. If your possessions are damaged, destroyed, or stolen due to a covered peril, personal property coverage helps you replace them.
- Covers contents both inside your home and temporarily away
- Includes furniture, electronics, clothing, and household items
- Coverage can be adjusted based on the total value of your belongings
- Special items (jewelry, art) may require additional scheduled coverage
Personal Liability Coverage
Personal liability coverage protects you financially if someone is injured on your property or if you accidentally cause damage to someone else's property. It covers legal defense costs and settlements up to your policy limit.
- Coverage up to $2 million available
- Covers legal defense costs and court-awarded damages
- Applies to incidents on your property and some off-premises events
- Protects against lawsuits from visitor injuries or accidental property damage
Additional Living Expenses (ALE)
If your home becomes uninhabitable due to a covered loss — such as a fire or major storm damage — ALE coverage pays for reasonable additional costs of living away from home while repairs are completed.
- Covers hotel, rental, and temporary housing costs
- Includes additional food and transportation expenses
- Applies when your home is uninhabitable due to a covered peril
- Coverage duration depends on the time needed for reasonable repairs
Optional Add-On Coverages
Customize your policy with these additional coverages for enhanced protection.
Sewer Backup Coverage
RecommendedProtects against damage caused by backed-up sewers, drains, and sump pump failures. This is one of the most common claims in BC and is highly recommended as an add-on.
Earthquake Coverage
Optional protection against earthquake damage. Availability and pricing may depend on your property's geographic location within British Columbia, as some regions carry higher seismic risk.
Geographic eligibility restrictions may apply.
Overland Water (Flood) Coverage
Covers damage from surface water entering your home due to heavy rainfall or spring thaw. An increasingly important add-on given changing weather patterns across BC.
Identity Theft Coverage
Helps cover expenses associated with restoring your identity if you become a victim of identity theft, including legal fees and lost wages.
Please note: Coverage availability, terms, conditions, and limits vary by policy and insurer. The coverages described above are general overviews and may not reflect the exact terms of your individual policy. All insurance policies are underwritten by licensed Canadian insurance companies. Marketlink Insurance Solutions is not an insurer. Please consult your policy documents or speak with your insurance agent for specific coverage details.