VANCOUVER, Jan. 23 /CNW/ - With the 2010 Olympic and Paralympic Winter
Games only one year away, and with VANOC's (Vancouver Organizing Committee's)
recent launch of its volunteer homestay program, Insurance Bureau of Canada
(IBC) wants to remind BC homeowners who will be renting out their property
during the Games to make sure they are properly insured.
Next winter, scores of visitors from around the world will descend upon
the lower mainland to witness the 2010 Winter Games. Many British Columbians
will be renting their homes or apartments, in whole or in part, to some of
"The world is coming to BC in 2010," said Lindsay Olson, IBC's
Vice-President, British Columbia, Saskatchewan & Manitoba. "Renting out your
home or apartment to visitors could affect your insurance coverage. Consumers
should not assume they are covered for damage done by occupants simply because
they have home insurance."
Insurance Bureau of Canada encourages those thinking of renting out any
part of their premises to contact their insurance representatives to see if
they are properly covered.
Olson advises homeowners to be clear about their intentions when speaking
with their insurance representatives. "Let your insurance professional know
what you plan on doing, and don't be afraid to ask questions. In some cases,
your existing coverage may be adequate. In other cases, you may have the
option to purchase additional coverage. Either way, it's better to be safe
Insurance Bureau of Canada is the national industry association
representing Canada's private home, car and business insurers. Its member
companies represent nearly 95% of the property and casualty (P&C) insurance
market in Canada. The P&C insurance industry employs over 110,000 Canadians,
pays more than $6 billion in taxes to the federal, provincial and municipal
governments, and has a total premium base of $38 billion.
To view news releases and information, visit the media section of IBC's
website at www.ibc.ca.
For further information:
For further information: or to arrange an interview, please contact
Ellen Woodger, (416) 483-2358; James Geuzebroek, (416) 362-2031 ext. 4364