“Water is the new Fire!” – It sounds contradictory but this has been repeated across the insurance industry over the last decade due to water becoming the most common insurance claim.

Weather patterns are changing worldwide, a trend that is affecting Canadians directly. The devastating floods in Toronto and Alberta in 2013 highlighted an inevitable truth–our country is getting wetter. Locally, our community of Sault Ste. Marie experienced this in September 2013 when up to 100 millimetres of rain came down in just a few hours. Severe weather events that used to occur every 20 years can now be expected to occur every five years and major floods represent nearly 40% of all-natural disasters ever recorded. Clogged sewer drains, soaked grounds, torrential rains and rapid snowmelt all contribute to catastrophic flood emergencies.

As the severity and occurrence of these major weather events increases, it has become more important than ever to ensure that you are protected against potential losses. Our team at Northern Insurance Brokers wants to make sure that our clients, and friends in the community, are aware of the insurance options they have.
For homeowners, there are generally three types of coverage:

1. Basic water coverage included in the standard property policy covers events such as burst pipes;
2. Sewer Back-Up coverage, for sudden and accidental back-up or escape of water or sewage from within the home through a sewer, septic system or sump pump;   and
3. Overland Water coverage, for losses that result from runoff or accumulation of surface water, including torrential rainfall when water enters the property

Most policyholders will have basic water and sewage backup coverage but may not have overland water coverage. The availability of this coverage for your home is quite new in Canada and the insurance industry has not been able to come up with a consistent way of offering it. Some companies call the coverage “Overland Water”, others “Flood”, or even “Waterproof Coverage”. Coverage exclusions also vary, for example, if a loss from sewer back-up and overland water coverage occurs at the same time, some companies will deny coverage unless the policy has Overland Water coverage included. The introduction of Overland Water Coverage in 2015, means that you’re protected whether the damage is due to rising freshwater levels, torrential rainstorms or spring thaw. As your insurance broker we have access to multiple coverage options to find the right solution for you, and help explain the differences.

Even one inch of water could cost you thousands of dollars. Adding this coverage is as easy as contacting a member of the Northern Insurance team; as soon as the coverage is added to the policy, there is immediate protection.

For more information about Overland Water Coverage, contact us now.