The Risk Review: An inside look into real homeowner claims

As a home insurance provider, it’s our job to have our customer’s back in the event of a claim. But it’s also our job to help you understand claims better so you can hopefully avoid them. That’s why we created The Risk Review. A quick read that gives you real insights from the past five years of BCAA homeowners claims.  

Nearly one in five BCAA homeowners have a claim in their first five-years. And with over 20% of those claims costing upwards of $25,000, it’s important to prepare for BC’s changing seasons and common household risks to stop a small event, becoming a large issue.

Preparing for the spring showers

At BCAA, over 60% of BCAA homeowners' claims are water related. And when temperatures rise and spring rain sets in, there’s also the threat of excess surface water that searches for the easiest way to flow into your home. Too often, this leads to damage to your home and belongings.  

What’s even more important is one in three of those claims are covered by an extended water coverage – which are optional coverages homeowners need to add to their base policy.

 

Imagine you own a detached home in the Lower Mainland. It’s not uncommon for an 11-day deluge of heavy rain and rapid snow melt, to have surface water start pooling around your property. If that water gets inside, it can cost a lot to clean up — in fact, our average claim for Outdoor Drain & Surface Water coverage is $38,000. There have been instances where we’ve paid up to $400,000 in the event of a claim.

63 to 80% of homeowners at BCAA select our optional water coverages. Check if you have extra protection before it’s too late.

How to prevent water damage this spring

Make this your essential to do list for your home defence against water damage:

• Clear all your indoor and outdoor drainage systems
• Inspect your roof and attic for missing shingles, cracks or leaks
• Install window wells
• Add a backwater valve if you have a basement
• Review your policy to add optional water coverages, including Extra Roof Leak Coverage and Outdoor Drain & Surface Water Coverage

 

Adding Outdoor Drain & Surface Water coverage costs the average single-family homeowner just $193 per year. That’s about $4 per week and less than 50 cents a day. It’s certainly affordable peace of mind when you compare it to a $38,000 average claim!

Build your wildfire resilience for summer

Summer brings longer, warmer days and significantly higher wildfire risk in BC. Since 2020, Insurers in BC have paid over $735-million in catastrophic wildfire claims to BC homeowners affected by major burn events*. A big portion of that is emergency evacuation financial support for things like accommodation, food and transport. Over 85% of BCAA’s wildfire-related claims have an emergency evacuation benefit.

It’s important to prepare for wildfire season in advance, given the majority of wildfire claims at BCAA occur in August.There are simple steps you can take to improve your home’s wildfire resilience should we encounter a hot dry summer.  

 

Make this your essential To-Do list for defence against wildfires this summer from our partner, FireSmart BC:

• Clean and screen your gutters.
• Screen outdoor vents with 3mm non-combustible wire mesh or ASTM fire-rated vents. Dryer vents should have a solid metal louver or flap instead of mesh.
• Protect open eaves by installing properly fitted soffits and fascia to block embers from entering.
• Install fire-resistant doors and seals.
• Clear leaves and debris from under your decks and around the home.
• Install a spark arrestor if you have a chimney.
• FireSmart your home with the FireSmart BC Wildfire Mitigation Program. You can get a FREE Home Assessment that comes with a discount on BCAA Home Insurance, plus a list of actions specific to your property to improve your wildfire resilience.

To learn more about preparing your property, read How to prepare your property for BC wildfire season. Plus, you can read how BCAA helped save the day for one Okanagan family in A True Claims Story: Evacuating the 2023 West Kelowna wildfires.

Protection that goes beyond the policy

At BCAA, wildfire resilience goes beyond sharing advice. BCAA Home Insurance has an on-the-ground Wildfire Property Defence Program that may deploy to help protect a policyholder’s home if it’s in the path of a wildfire. This defence program has been proven to reduce community losses by up to 30%**. Plus, we invest to protect BC communities through our Defending Against Wildfires program, with initiatives and partnerships that contribute to building a more resilient province before, during and after wildfires. Learn more at bcaa.com/impact/wildfire-resilience. 

Why choosing the right provider matters

Insurance premiums reflect real-world risk. When you see and hear the scale of homeowner claims having the right coverage can be a lifesaver.

BCAA paid out over 95% of claims related to fire, water, weather and theft from 2021 to 2025†. When something goes wrong, we make it right. We design coverage you understand and tailor it to your needs. And whether you need optional water coverage, advice on wildfire protection, or guidance on policy limits, our trusted advisors can walk you through it.

Ready to make the switch to BCAA Home Insurance? Get a quote now at bcaa.com/home. Bonus: if you’re a BCAA Member, you’ll save up to 20%, plus an additional 5% when you buy online.

Already a customer and want to review your policy? Speak to one of our trusted advisors by calling 1.888.268.2222, Monday to Friday (8:00 am – 6:00 pm) or Saturday (9:00 am – 5:00 pm).