Generally, overland flooding is not covered. This kind of flooding can be caused by a spring thaw. Here water overflowing from rivers, streams or other bodies of water flows onto dry land and causes damage to homes.
Flood coverage isn’t available because only a small percentage of the population is at risk. Since the purpose of insurance is to spread risk among many policyholders, this type of insurance for those at risk would be unaffordable.
However, water-related damage and insurance claims are rising across Canada due to the increase in severe weather. Damage from heavy rainfalls can be extensive to your home and result in the loss of irreplaceable keepsakes.
It’s more important than ever for you to learn how you can protect your property and stay dry when the heavy rains come.
Severe weather is here to stay. Don’t wait for disaster to strike. Take precautions now to protect your home against water damage.
Be prepared before disaster strikes. Here are a couple of simple things you can do:
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Prepare an inventory of the contents of your home before disaster strikes.
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Talk to your insurance representative about your coverage. Do a current assessment of your needs.
For more information, homeowners can also call the Insurance Bureau of Canada Consumer Information Centre at the numbers listed below.