No. House insurance isn’t legally required in British Columbia, but it’s in your best interest to have it. If your home is damaged by fire, windstorm, earthquake (and more), home insurance will be there to repair or replace it.
Put simply – without property insurance, it’s your responsibility to pay out of pocket for any damages to your home, garage and other detached structures. And, costs can quickly add up. A home policy also covers your stuff, protects you from legal liability, and provides you with money to pay for extra expenses if a covered event happens (like a fire) and you can’t stay in your home. It offers peace of mind, so you know you’ll get back to where you need to be if the worst happens.
And lastly, if you have a mortgage, your lender will most likely require you to have house insurance.