Residential
Add-Ons
While standard home and condo insurance policies provide solid protection, they don't always cover every scenario—especially when it comes to high deductibles tied to shared buildings or natural disasters. At Saxbee Insurance, we offer optional residential insurance add-ons designed to reduce financial strain and give homeowners and condo owners greater peace of mind. These coverages work alongside your existing policy to fill in critical gaps, so you're not caught off guard.
We're proud to be one of the few brokerages in British Columbia that offers both Strata Water Deductible and Earthquake Deductible Buyback coverage—two increasingly important add-ons for BC property owners.
What These Add-Ons Cover
Strata buildings and earthquake zones come with unique risks. These add-ons are built to protect against major out-of-pocket expenses, especially in situations where you're responsible for a large deductible. Whether you live in a condo or a detached home, we'll help you determine which coverage is right for you.
Strata Water Deductible Coverage
Many strata buildings in BC have significantly increased their water damage deductibles—often ranging from $25,000 to $100,000 or more. If a water-related incident starts in your unit and leads to a claim under the building's strata policy, you may be responsible for covering the full deductible amount. This add-on provides coverage specifically for those large deductibles, helping protect you from sudden, out-of-pocket costs you may not expect as a condo owner. It's a smart way to safeguard your finances while living in a shared building.
Earthquake Deductible Buyback Coverage
Standard earthquake insurance policies often carry deductibles as high as 10% to 15% of your property's insured value—meaning you could be on the hook for tens of thousands of dollars if an earthquake occurs. This add-on lowers that high deductible to a more manageable amount, helping reduce your financial burden in the aftermath of a quake. It's a valuable layer of protection for homeowners and condo owners living in BC's seismically active zones.
Frequently Asked Questions
Get answers to common questions about residential add-on coverages in British Columbia.