House Insurance info / issues in Canada

[Abe]

Seeking info / advise from fellow Canadians about house insurance.
My pond is only few month old , and I have a renewal of my house
insurance coming up soon , the first time with a pond.
Since knowledge is power , I would rather be prepared for this,
so could you please share with me some info or advise on the
matter . Rough figures of premium paid will be very appreciated.
I don't think info from other parts of the globe will be relevant
for me , but if the topic will fire up interest - the more the merrier.

 

[MitchM]

Check what your local bylaws say about owning a pond or swimming pool.
There may be a requirement to have a fence surrounding your property or pond.
I'm in a rural area so I don't have that requirement.

 

[HARO]

I'm in a rural area so I don't have that requirement.

Same here. "Rural cluster". Not even big enough to be a "Hamlet". There are two unfenced pools here that I know of, and several farm ponds, and I've never heard of anyone being charged extra for insurance.
John

 

[Lisak1]

Do they come and look over your property before they renew there in Canada? Here we get renewed as long as we pay the premium.

 

[Abe]

Thanks, Will check bylaws, property is fenced, gated etc. hopefully thats enough.

 

[Abe]

Do they come and look over your property before they renew there in Canada? Here we get renewed as long as we pay the premium.

I'm getting automatic renewal in the mail but sometimes it not in your best interest to not notify about changes , especially when there is no additional premium to pay.

 

[Abe]

Same here. "Rural cluster". Not even big enough to be a "Hamlet". There are two unfenced pools here that I know of, and several farm ponds, and I've never heard of anyone being charged extra for insurance.
John

Isn't it great , living in "Rural cluster" - living free on the land , not a worry etc.
Friend of mine have a small farm in east Kelowna , with a beautiful creek running
right through it...

 

[Mucky_Waters]

Hey Abe
My pond addition has never come up in my insurance renewal. I do pay a small extra premium for installing a wood heating stove which I made them aware of. That was the only time they did a physical inspection. Having a pond would most likely come under the liability portion of your insurance, protecting you if someone was to get hurt on nyour property (fall in or drown in your pond). Usually, bylaws in cities and towns require ponds and pools require a fence around them to protect people accidentally wandering into them if they are more then 2 ft deep, so there is that. A fence around your whole yard would be acceptable. But as far as insurance goes, different carriers have different policies and requirements, so you would have to ask your carrier specifically about your situation.

 

[Mucky_Waters]

BTW
I think you are the closest member I know of in this forum to me, I live just South of you in Keremeos, about an hour or so away.

 

[HARO]

Usually, bylaws in cities and towns require ponds and pools require a fence around them to protect people accidentally wandering into them if they are more then 2 ft deep,

The largest town near us has a by-law that limits the depth of a garden pond to 18". This must be common practice, as it is almost impossible to find a pre-form pond deeper than that.
As for physical inspections, yes, someone came out to see the pellet stove we installed many years ago, and a certificate of some sort is needed for the oil-burning furnace, every 5 years, I believe. That one requires a licenced technician to inspect the apparatus.
John

 

[Mucky_Waters]

The largest town near us has a by-law that limits the depth of a garden pond to 18". This must be common practice, as it is almost impossible to find a pre-form pond deeper than that.
As for physical inspections, yes, someone came out to see the pellet stove we installed many years ago, and a certificate of some sort is needed for the oil-burning furnace, every 5 years, I believe. That one requires a licenced technician to inspect the apparatus.
John

Ya, you are probably right John, I couldn't remember the exact depth, all I know is it was not really deep enough to safely overwinter fish in most zones in Canada.
In regard to oil heating, I know of at least one case where the insurance company would not re-insure the policy of a rental housed an elderly woman I knew owned unless she replaced the oil tank. Not that there was anything wrong with the old tank, but simply because they deemed it too old. The woman had no proof that it had ever been replaced in the last 25 years.

 

[Lisak1]

My husband (and his whole family for that matter) has been in the insurance business for years. They do inspect homes that they are insuring for the first time, but they don't do re-inspections before an annual renewal, so I wondered if Canada was different. They might reinspect if there had been a loss - for example if they paid to install a new roof or repair storm damage - but they wouldn't expect a client to report the addition of a pool or pond. A typical homeowners policy includes things like pools because they are so common. Now, if you installed a moat stocked with gators, that would be a different story!

I would review your policy to make sure you are comfortable with your liability limits. Your pond is considered landscaping so your homeowners won't cover you in case of damage to the pond due to storm or other hazards, so you are really only concerned with making sure you have enough coverage if something were to happen to someone visiting your home. Whether you mention your pond is obviously up to you.

(A wood or oil burning stove it a different story - when a home is insured, how it is heated is included in the policy and the premium is affected as well, so there would be expectations for re-inspections or certification that the unit has been serviced and deemed safe and operational.)

 

[Abe]

BTW
I think you are the closest member I know of in this forum to me, I live just South of you in Keremeos, about an hour or so away.

Hey Randy, drove through Keremeos many times, loved the scenic Hwy 3 , and
of course the Fruit Stands ...

 

[Abe]

Ya, you are probably right John, I couldn't remember the exact depth, all I know is it was not really deep enough to safely overwinter fish in most zones in Canada.
In regard to oil heating, I know of at least one case where the insurance company would not re-insure the policy of a rental housed an elderly woman I knew owned unless she replaced the oil tank. Not that there was anything wrong with the old tank, but simply because they deemed it too old. The woman had no proof that it had ever been replaced in the last 25 years.

Thanks for the depth input - I'll check it out , most likely fencing is the main issue
and i got that.