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Insuring Your Secondary Suites — What You Need To Know

Secondary suites continue to be an affordable housing option for Metro Vancouver area residents, benefitting home owners as mortgage helpers and tenants as a less expensive roof over their heads.

Secondary suites are so prevalent that Canada Mortgage and Housing Corporation estimates there are now about 101,808 accessory suites in the Metro Vancouver region.

“With so many suites in our area, it’s important to remind home owners to let their insurer know about a suite and to buy insurance to cover the suite,” says REBGV member David Chambers, a licensed REALTOR® and a licensed insurance agent, and vice-president of Chambers Olson Insurance in Vancouver.

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