You might be thinking flood insurance is nothing new but until recently, there were no coverage options available for damage caused by storms, spring thaw, or other fresh water flooding. Now since late last year, there is a new optional coverage for water damage that protects you against these causes of flooding.
Not likely, since it is only recently that some companies have started to offer this coverage, three in Ontario to date, in the wake of the High River floods in Alberta. As storms get bigger and weather patterns more erratic, a flood is becoming a real possibility for more homeowners.
A torrential rainfall or spring thaw, even the sudden accumulation of run-off water – it only takes a few inches of fresh water flooding to cause thousands of dollars in damage to your property. This new water damage coverage is added to policies that already have sewer back-up coverage. This enhances your protection against water damage caused by sudden accumulation or run-off of surface waters, including torrential rainfall or spring thaw and from overflows from any body of fresh water. If a flood is an unlikely event in your area, then the added cost is minimal.
If you’re not sure what type of coverage you already have or how this new type of flood insurance would further protect your home and property, feel free to speak with one of our licensed insurance brokers to learn more about water damage coverage.
Speak with one of our licensed insurance brokers about adding the new Water Damage coverage, a type of flood insurance* to your policy.
If you have any questions or would like a no-obligation quote, contact Mitchell & Whale Insurance Brokers at 1-800-731-2228 or email us at firstname.lastname@example.org to be sure you are properly protected from floods and water damage.
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