Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Should my Saskatoon buyer's agent be checking the climate risk score and the actual insurance quote before I make an offer?

Saskatoon doesn't have a standardized climate risk score the way some US markets do, but the underlying concern, insurability, is still real, and CMHC, Sagen or Canada Guaranty mortgage insurance rules mean a buyer's agent should confirm that home insurance is actually available and price it before the financing condition, typically 7 to 10 business days, expires.

Overland flood risk, aging plumbing and prior water damage claims are the factors a Saskatchewan insurer actually underwrites on, and a house with a claims history can come back with a higher premium or, occasionally, a decline, which a buyer needs to know before removing conditions.

A real quote, not a general estimate, is what your financing condition period is for. Most lenders want proof of insurance in place before funding, so waiting until after conditions are removed to find out a house is hard to insure is the mistake to avoid.

Confirming insurability with an actual quote belongs in the same window as the home inspection, not after. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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