Drink in Life in Kelowna
Kelowna is famous across the country as being an important community in Canada's wine country. Over 2 million people visit the city every year. Some are interested in wine tastings, others are interested in skiing, while others are fond of canoeing on nearby Okanagan Lake. Some people are enticed to stay in Kelowna due to the relatively low cost of living and jobs in education and health care. If you are one of these people looking to make a life on the shores of Okanagan Lake, you need home insurance in Kelowna.
Kelowna has been a hidden gem in Western Canada for some time. As a result, housing prices are relatively low. The median home price for a home in Kelowna is approximately $577,000. This is slightly lower than the national median for homes in Canada and significantly lower than the median price for homes in British Columbia. If you've been interested in moving to British Columbia but haven't been able to find an affordable home, moving to Kelowna may be the solution.
Nevertheless, as its popularity grows, Kelowna's home prices have started to increase as well. To keep your monthly home payment affordable, you need to save on your home insurance premium. Finding affordable property insurance is therefore critical to making your dream of owning a home in Kelowna and drinking in all that it has to offer come true.
What Does Home Insurance in Kelowna Cover?
Many things can happen to damage or destroy your Kelowna property. The purpose of home insurance is to cover any losses that you sustain as a result of an adverse event. In addition to protecting your home, your policy generally covers your personal property as well, including items such as the following:
- Furniture
- Books
- Clothing
- Artwork
- Antiques or collectibles
If your property contains other structures, such as a detached garage or a fence, your policy usually covers them as well.
The following are examples of types of damage to your home that insurance usually covers.
Property Crime
The city of Kelowna has formed task forces that have brought about a sharp decline in the crime rate. Nevertheless, compared to the rest of British Columbia and Canada as a whole, crime rates in Kelowna remain relatively high. For every 100,000 people in Kelowna, there are 7,225 property crimes. Should you become the victim of theft or vandalism in Kelowna, your home insurance will usually pay to have your property repaired or replaced.
Weather Damage
In a typical year, Kelowna can see 64 centimetres of snow, including 11 cm in November, 23 cm in December and 19 cm in January. Heavy snowfall can damage roofs directly or indirectly by bringing down tree limbs. Freezing temperatures can cause ice dams to form in gutters and water to back up into attics. Though summers are relatively milder, winds in July can gust up to 17 kilometres per hour, which can cause damage as well.
Fire
In 2003, a lightning-induced fire near Okanagan Mountain Provincial Park destroyed over 200 homes, burned over 250 square kilometres and forced over 33,000 residents to evacuate. At the time, it was the worst fire Kelowna had ever seen. However, the 2023 wildfire season eclipsed it. If a wildfire destroys your home, insurance can compensate you for the damages.
What Does Home Insurance in Kelowna Not Cover?
There are some things that a standard home insurance policy typically does not cover. For example, it usually does not cover repair or replacement of appliances that wear out from normal use. It also typically does not cover flooding. However, you can purchase extra coverage if you want these types of protection.