William Lew Live-Dream-Play

Call or Text 604-862-1966 | EMAIL info@williamlew.com |

What’s pot going to do to home insurance?


by Steve Randall06 Sep 2018

In less than six weeks, Canadians will be legally able to grow recreational cannabis in their homes, as well as buy, use, and possess it. But how will their insurance be affected?

In a new survey from Ratehub, an overwhelming majority of homeowners (79%) say they don’t know if their home insurance policy would cover damages relating to growing cannabis with another 20% believing that it would not.

Renters are also confused about what their insurance – and landlords – may allow.

While 28% of renters think they should have the right to smoke and grow cannabis within their rental units, most landlords don’t believe their tenants should be able to smoke (62%) or grow (58%) within their units.

Further, more than half of landlords are unsure whether their insurance policies would cover smoking or growing cannabis.

Ratehub co-founder Alyssa Furtado is calling on insurers to be upfront with Canadians and go “above and beyond” in informing them about how insurance may be affected by the legalization of cannabis.

“Given they are responsible for defining changes within the industry, they need to be more transparent about how cannabis legalization may affect Canadians’ insurance,” she says.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.