Flood Coverage Available to More Canadians

With the amount of overland water (flood) claims steadily increasing across Canada over the past five years, more insurers are offering overland water coverage – including in non-traditional postal codes – as part of their home insurance coverage options.

‘’Insurers really do want the best for their customers, as this improvement demonstrates,’’ Matthew Alston, COO of Surex, said. ‘’It used to be you needed to live near a body of water or on a flood plain to have multiple insurers willing to offer flood coverage and compete for your business. Now, even in non-traditional ‘’flood’’ areas, a lot more providers are offering protection against overland water.’’

Whether you decide to add flood coverage to your policy or not, Terry Manz, Senior Director of Underwriting (Personal Lines) for SGI Canada – one of Surex’s partner companies – suggested these five tips to help protect your home against potential overland flood damage:

• Ensure sump pump is working properly (the best type of sump pump includes a battery backup, in case of power failure)
• Direct downspouts away from foundation of home
• Clear gutters of debris, snow, ice, etc.
• Shovel snow and remove water away from foundation
• Check neighbourhood sewer grates are free of debris (so they can drain properly)

If you’re in an older home, or know your foundation has cracks (leak potential), it’s of utmost importance to do these steps. Alberta, especially, has received a tremendous amount of snow this winter, heightening the potential for overland water damage.

With spring rapidly approaching, now is the time to consider adding overland water coverage to your policy. As the popular saying goes, it’s better to be safe than sorry. Keep in mind that not all water coverage options are created equal.

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