The sound of running water can be soothing…unless that water is running somewhere it shouldn’t be, like your basement floor. Water damage is the leading cause of home insurance claims in Canada — and there are many ways unwanted water can end up in your home. One common cause of water damage is sewer backup, which happens when water begins to flow backwards into your home. Yes, this is just as unpleasant as it sounds. Not only does exposure to sewage pose a health hazard, but the clean-up process is extensive and costly (...)
Tag: flood
Cover up: 5 Common Home Insurance Endorsements
Home insurance is designed to protect you and your family when you need it most — but all policies have limits and exclusions, and you may want to add extra coverage or endorsements to make sure you’ll always be protected. In the insurance world, an “endorsement” is a change to the coverage outlined in your insurance policy. It can add or remove coverage, and it overrules any wording in the policy itself. A “rider” (also known as a floater) is an endorsement (...)
Home Flood Mitigation
With water claims on the rise due to climate change, Insurance companies have started to introduce overland water coverage to protect you. However, it still is important to know the leading causes for flooded basements, ways to prevent floods, and what to do in the event of a flood (...)
Aviva Overland Water Protection
On February 19 Canadianunderwriter.ca reported that Aviva Canada will start to offer homeowners an overland water endorsement insuring losses arising from the accumulation or run off of surface waters. This bold announcement will make Aviva the only insurance company in Canada to offer this type of coverage (...)