The British Columbia Financial Services Authority issued a consumer reminder tied to National Insurance Awareness Day on June 28, encouraging people to review their insurance policies and speak with an insurance professional to confirm they have appropriate coverage for their homes and property. The release highlights that wildfires, floods, and other natural disasters are becoming more frequent across Canada and warns that not all disasters and extreme weather events are automatically covered. It flags earthquake insurance as an example that often requires separate coverage and prompts consumers to check whether they are covered for floods and wildfires, whether additional earthquake coverage is needed, and what deductibles and coverage limits apply. The authority also points to Canadian Insurance Services Regulatory Organizations resources on natural disaster coverage and home insurance tips, and notes additional consumer resources on its website, including consumer alerts and a list of insurance companies authorized to operate in British Columbia.
British Columbia Financial Services Authority 2025-06-27
British Columbia Financial Services Authority urges consumers to review home and property insurance coverage ahead of National Insurance Awareness Day
The British Columbia Financial Services Authority reminded consumers on National Insurance Awareness Day to review their insurance policies for adequate natural disaster coverage. It emphasizes that wildfires and floods may not be automatically covered and highlights the need for separate earthquake insurance. The authority also directs consumers to resources on natural disaster coverage and home insurance tips.