Westland Insurance Group Ltd., Doctors of BC’s home- and office-insurance partner, provides advice to members on risk considerations for their home and office.

Home-insurance policies are issued on several different forms, which establish and define the causes of loss (or perils) for which coverage is provided. The best and broadest form is a comprehensive, or all-risks, form, which is the best form to insure your home with.

An all-risks form insures against all types of losses, subject to a list of exclusions specified in the policy. These exclusions outline when coverage does not apply. The onus is on the insurer to show that an exclusion applies following a loss; otherwise, coverage will be provided.

The main types of losses insured under this form include the following:

• Fire: from either inside or outside the home, including forest fires.
• Windstorm: caused by winds that damage the home or cause trees or other debris to hit the home.
• Theft and burglary: inside or away from the home, such as theft from a vehicle.
• Water damage: caused by pipes bursting, dishwashers or laundry machines failing, or bathtub or sink overflows.
• Sewer backup: the backing up of interior or exterior drains.

Depending on your geographical area, consider adding the following optional perils to your home-insurance policy:

• Earthquake: covers damage to the home during an earthquake and carries a separate, high deductible.
• Overland flood: covers the overflow of natural or manufactured bodies of fresh water (rivers and lakes). Coverage limits may depend on the location of the home.

When insuring a medical office, it is best to choose a similar comprehensive or all-risks form for office contents, equipment, and any leasehold improvements you have made to the space or for which you are responsible under the lease agreement.

In addition to the above perils, larger offices storing data on their servers should consider adding cyber insurance to cover data hacking, extortion, and ransom.
—Julie Kwan
Insurance Advisor, Doctors of BC

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