Brian Gregory

Miriam Gregory

Rainbow Insurance has been serving Vancouver's insurance needs since 1958. We are now available to assist you on the Internet! Following the list of Frequently Asked Questions about insurance services are links to our Quick Quote forms... we are happy to provide you with a competitive quote by e-mail.

Insurance FAQ's and Tips

General Home Insurance

• Question: Does Rainbow Insurance provide home insurance anywhere in the world?
  Answer: No. We only provide home insurance in British Columbia, Canada.
• Question: Do I have to pay for my Home Insurance in one lump sum or can I spread out my payments?
  Answer: At Rainbow Insurance, you can pay in one lump sum by cash, cheque, direct debit, Mastercard or Visa. You can also split your payments into monthly installments. The monthly payment option requires you to pay 2 months in your initial installment, followed by 10 monthly payments. The monthly payments option has a 3% administration fee but there are no interest charges.
• Question: Does Rainbow Insurance offer discounts?
  Answer: Yes, 15% discount for seniors 50 years and older, 10% discount for mature ages 45 to 49, 15% for homes 5 years old or less, 10% for homes 6 to 10 years old, 9% discount for homes 11 years old, 7% discount for homes 12 years old, 5% discount for homes 13 years old, 3% discount for homes 14 years old, 10% if insured and claims free for three years, 15% if insured and claims free for five years, 15% mortgage free discount, 5% discount for Neighbourhood Watch members, 5% discount for Sprinklers, 10% discount for Monitored Burglar Alarms, 15% for Monitored Fire & Burglar Alarms, and 5% for an Unmonitored Burglar Alarms.
• Question: How can I best prepare in case I do experience a loss and need to make a claim?
  Answer: Go through your house and photograph each room showing furniture and valuables. Do a close up shot of items you have a floater on (camera equipment, video equipment, jewelry, etc.) Negatives and photos are compact and can store flat in a safety deposit box and your insurance broker's files. Also print and fill out our room by room Household Inventory Form and get a realistic idea of the worth of your possessions. Most clients underestimate the value of their possessions!
• Question: Are there any limits on the insurance policy?
  Answer: Yes, there are limits to certain types of property unless you specifically purchase a 'Floater Policy' for additional coverage. The limits on selected items usually are: Jewelry, watches and furs limited to $7,000, Stamp collections limited to $2,000, Coin collections limited to $1,000, Money and bullion limited to $1,000, Securities limited to $5,000, Business property limited to $5,000, Animals limited to $2,500, Trailers to $1,000, Garden Tractors limited to $10,000, Golf Carts limited to $10,000, Spare automobile parts limited to $1,000, Collectible cards limited to $10,000, Bicycles limited to $1,500 per bicycle, and Watercraft limited to $3,000. Higher special limits are available, if needed.

Homeowner's Insurance

• Question: What is the difference between a "broad" homeowner policy and a "comprehensive" homeowner policy?
  Answer: There is no difference in the coverage for the building. Both forms cover the building for "all risks". However, the "broad" form covers the contents for "named perils" specified in the policy, while the "comprehensive" policy also covers the contents for "all risks".
• Question: For how much should I insure my house?
  Answer: You should insure your house for the full replacement cost - not for the market value shown on your property tax assessment.
• Question: How do I find out the replacement cost of my house?
  Answer: We invite you to call our office and give us the details about your home, such as the square footage of each floor, etc. We will use our Home Evaluation Software program to evaluate your home's replacement cost. This service is offered at no charge.

Co-op, Condominium & Townhouse Owner's Insurance

• Question: How much will it cost?
  Answer: Please complete our Home Insurance Quick Quote form and we will email you back a quote.
• Question: What does that cover?
  Answer: Contents coverage, Belongings temporarily away from home coverage, Additional Living expenses coverage, Legal Liability, Sewer Backup, Theft & Fire, etc. Also, there are Additions & Alterations coverage & Contingent Property Assessment coverage included.
• Question: Why do I need earthquake coverage? Doesn't the Condominium policy cover earthquake?
  Answer: The Condominium policy may cover earthquake but only for the building. It wouldn't cover your personal belongings. You must add earthquake coverage on your own policy if you want your personal belonging covered for loss caused by an earthquake.

Tenants Insurance

• Question: How much will it cost?
  Answer: Please complete our Home Insurance Quick Quote form and we will email you back a quote.
• Question: What does that cover?
  Answer: Contents coverage, Belongings temporarily away from home coverage, Additional Living expenses coverage, Legal Liability, Sewer Backup, Theft & Fire, etc.
• Question: Why do I need earthquake coverage? Doesn't my landlord's insurance cover earthquake?
  Answer: Your landlord's policy may cover earthquake but only for the building. It wouldn't cover your personal belongings. You must add earthquake coverage on your own policy if you want your personal belonging covered for loss caused by an earthquake.
• Question: What if I have roommates?
  Answer: Each roommate will have to purchase their own separate policy. Every roommate must purchase a policy or else there will be no Theft or Burglary coverage for any of the policies. Persons who have lived together in a common-law relationship (heterosexual or homosexual) for one year or more are no longer considered roommates, and may purchase a joint policy just as a married couple.

Autoplan Insurance

• Question: How can I pay for my car insurance?
  Answer: We accept Visa, Mastercard, American Express, Direct Payment/Interac, Cash & Personal cheques. Monthly Financing is now also available for those who qualify.
• Question: What is the shortest term of Auto Insurance I can buy?
  Answer: You may purchase a policy from 3 months to a year. Temporary Operating Permits are also available from 1 to 15 days.
• Question: Can I buy coverage for a rented vehicle?
  Answer: Yes. We have three options available: (1) The cost is $10.00 per day with a $20.00 minimum premium covering you anywhere in Canada or the United States with a $300 deductible through ICBC. (2) The cost is $12.00 per day per driver with a $15.00 minimum premium covering you anywhere in the world with a $100 deductible through a private company. (3) The cost is $13.00 per day per vehicle with a $24.00 minimum premium covering you anywhere in the world with no deductible through another private company.
• Question: Can I phone in my change of address for Autoplan?
  Answer: No. Bring in your current insurance papers and we will print out new forms for you. We will also change the address on your BC drivers licence if you wish.
• Question: Can I find out the Gold book price of a vehicle?
  Answer: Yes. Simply call or e-mail your request to us. Let us know the year, make, model, and accessories of your vehicle.
• Question: What is a Roadstar?
  Answer: If you have been claim free for nine years you may be eligible for the Roadstar package at $21 per year if you have full coverage with ICBC. The package includes $500 loss of use coverage, free insurance on rental cars, travel protection coverage, and lock rekeying coverage. You would also be eligible for the Roadside Plus package at $50 per year if you have full coverage with ICBC. This package includes $750 loss of use coverage, free insurance on rental cars, travel protection coverage, lock rekeying coverage, family world wide transportation, theft deductible waiver, destination assistance, and emergency roadside expense repayment up to $50 twice in a policy term. If you are not a roadstar you can still purchase the Roadside Plus package but the price is $78 per year.
• Question: If I'm from out of province do I need proof of my claim free driving record to get a safe driving discount?
  Answer: Yes. A letter from your insurance company is required (a letter from your insurance agent/broker is not acceptable). You can get up to a 40% discount - that is 5% discount for each year of claim free driving up to a maximum of eight years. If you can prove 9 years continuous safe driving you will get a 43% discount. If you have had more than one insurer in the last 9 years you should get a letter from each insurer. We don't accept a claims free discount given by one insurer as proof of claims free experience by a prior insurer as many insurers are giving claim free discounts despite having a loss.
• Question: Is my ICBC Autoplan valid world wide?
  Answer: No. ICBC Autoplan only covers you in Canada and the United States.
• Question: I just brought my vehicle into British Columbia. What inspections are required?
  Answer: You need a mechanical inspection at an authorized inspection facility. One choice is A-1 Unity Auto Service. Phone 604-687-6646 for an appointment. They charge $79.00 per inspection including decal. Re-inspections are free. A second choice is Axle Alley Auto Repair Ltd. Call 604-875-9988 for an appointment. They charge $54.00 including decal. Re-inspections are $20.00 but this fee is waived if the repair work is done at Axle Alley. A third choice is Speedy Brake Centres Ltd. Phone 604-874-9977 for an appointment. They charge $49.95 including decal. AirCare inspection is not required until you want to renew your policy.
• Question: What is AirCare?
  Answer: It is a program to reduce pollution caused by auto emissions in the lower mainland of British Columbia. Before you can renew your Autoplan Insurance you must have a passed AirCare inspection. If you fail the inspection you are allowed to purchase a three month policy once only until you obtain a passed inspection. If your insurance has expired and you need coverage to drive to the AirCare inspection station you may purchase a temporary permit at our office. The AirCare inspection must be done annually for vehicles built in 1991 or earlier. The inspection costs $23.00 (cash , Mastercard or Visa only). Air Care is not required for 2004 or newer model year vehicles. Air Care is not required for motorcycles, hybrid or electric vehicles, or Antique, Vintage or Collector plated vehicles. Other vehicles require Air Care once every two years at a cost of $45.00. For more information visit www.aircare.ca.