Strata-Quake

We in the Pacific Northwest have experienced a handful of earthquakes in the past few months.  The experts have been warning us for years that the BIG ONE is overdue!  Vancouver Island has been shaken up the most in the last 30 days with four quakes that measured 4.0 or higher on the Richter Scale (Near Tofino, BC - Off the west coast of the island).  Earthquakes of this magnitude are felt by most people in the area and can awaken many from their sleep.  As these tremors shake their way up the scales they cause exponentially more damage and casualties.

Last month of EQ activity in Southwestern BC (Earthquakes Canada)

Size & Scale of Earthquakes (Earthquakes in BC)

There are a lot of things we can do to prepare for earthquakes and emergencies in general (See links below).  Most of us turn to "Home" insurance to recover and replace our losses.  If you live in a strata complex, pay attention NOW!

Strata corporations are required by law to insure the common property of its members.  Most stratas advise you to review the strata policy with your insurance broker to be sure you have a reasonable limit for Strata Deductibles and/or Loss Assessments.

Standard condo policies do not automatically include earthquake coverage.  Earthquake endorsements are generally required to cover these losses and come with an additional premium.  As the owner of a apartment/condo or townhome/townhouse, you need to add this coverage for your insurer to cover your portion of a strata loss due to earthquake.  The fact that your strata policy includes earthquake is not enough to protect you from financial loss caused by earthquakes.  Owners need to have earthquake coverage on their personal property in order for the insurer to pay common losses for their high strata deductibles.

Talk to your broker about your policy and ensure that you are properly and sufficiently covered for the potential damage caused by earthquakes.  Sufficient limits are determined by a review of the strata policy declarations.  These "Dec Sheets" are usually available from your property manager and are often handed out at AGMs (Annual General Meetings).

If you are still concerned or stressed about your coverage, I'd be happy to offer my experience and knowledge.

Preparing for Earthquakes (Earthquakes Canada)

The Great British Columbia ShakeOut (Get Ready!)

Earthquake Preparedness (Emergency Management BC)

Earthquake Preparedness Training Course (Vancouver Fire & Security)

WINTER TIRES

Considering the winter weather that has arrived in the GVRD (Greater Vancouver Regional District), I thought it timely to remind drivers about the use of "Snow tires" and insurance.  Naturally, winter tires are the best option for driving in snow and icy conditions.

Many of us LOVE living in the Fraser Valley because of the mild climate and don't own winter tires.  Does that have an impact on our insurance?  Yes, well... it may.  Confused?  You're not alone.  ICBC recently posted the following:

...In snowy conditions, driving without proper winter tires may not be the wisest or safest decision, but it does not affect a customer's insurance coverage or eligibility to make a claim.

Drivers are always responsible for ensuring their vehicles are properly equipped for road conditions, just like making sure your wipers and headlamps are working well on dark and rainy nights. Driving without winter tires will not void your insurance in the event of a claim or mean that you are automatically at-fault for a crash. However, if you get in a crash where winter tires could have helped it may be a deciding factor in determining whether or how much you are at-fault...

www.icbc.com/news/2011nov10-02

Does that clear up the confusion?  Basically, the decision is left to the adjuster.  The safest option is obviously to avoid driving.  Your insurance is still valid (Though it may be limited) if you choose to brave the elements behind the wheel.

Should you buy winter tires for one or two storms each year?  Most people will not.  My suggestion is to really consider it if you have the space to store them.  If not, consider not driving in the poor conditions.  Notice I did not suggest staying home.

There are many transit options available and cities often have programs to deliver necessities as well like Snow Angels.  Snow Angels is a volunteer organization in Richmond, BC.  Their services may include pick up and delivery of groceries, medications or removing snow from walkways and driveways.

When weather's wintery, be wise and walk or wait when reasonable!