Insurance of Whistler Real Estate
Insurance of Whistler real estate is a vital part of any property purchase. The contract of purchase and sale confirms that you are legally bound to insure your property effective 12.01 am on the date of closing. Mortgage funds will not be transferred until the bank has documentation which states the insurance is in place. Thankfully, there are a lot of safe-guards to assist the buyer, apart from me calling every day to ask if you have purchased insurance yet!
Kelly C. Hill of the-co-operators insurance and David Livesey & Associates, is my insurance contact in Whistler. I asked Kelly the following questions recently and I know you will be interested in her responses.
1) What is the best type of insurance of Whistler real estate zoned for nightly rental?
This can fall under commercial rooming and boarding insurance. The main benefit to the insured, is the loss of income portion. This is well received by those who have bought the property depending on the income to retain the property. There are several components to this insurance.
2) Does insurance of Whistler real estate zoned for month to month rental different from nightly rental insurance?
Commercial rooming and boarding insurance also applies in this case.
3) How do you determine the insurance fee for a house renting to tenants on a month to month lease?
The rate is based on several points, especially the number of people living in the house. However, it is not unusual for us to come out to inspect the property in order to determine the rate. Furthermore, the insurance policy rate stays in place for a year.
4) When tenants are added to the house what happens to the insurance policy?
The rate stays the same for a year. However, there is a reasonable capacity for any house, so the number of tenants should be considered by the owner.
5) What about unauthorized accommodation in a house? Do you have a policy on that?
We are not the by-law, we insure the property.
6) Is honesty the best policy with the insurance company?
Absolutely, tell us everything and we can get you the best insurance protection.
Here are Kelly’s contact details:
Kelly C. Hill
Associate Insurance Advisor II
David Livesey & Associates Inc.
212-7015 Nesters Road, ,Whistler, BC V0N 1B7
Insuring your property should be a priority for any buyer. When a client buys a house, I obtain the current insurance details from the listing agent. That way, the insurance company is familiar with the property and also the content. This is important if there is a fireplace in the property. It is also important if there is significant artwork in the house. Changing insurance companies is a hassle that you do not need to add on to the stress of moving. Visit the page on FAQ on buying Whistler real estate.
It’s a Good Life in Whistler!
Personal Real Estate Corporation
Sutton Group – West Coast Realty
203-1080 Millar Creek Road, Whistler, BC V0N 1B1 CANADA