Did you know that water damage is now the leading payout for insurance company claims? The majority of insurance claims are water related, so it’s essential to understand your insurance coverage. In addition, you should be aware of preventative measures you can take to mitigate water damage to your home and requirements for when you leave on vacation.
Floods can cause many types of damage, from ruining your floors to forming mold on drywall. Just a little bit of a leak can cause thousands of dollars worth of damage to your home.
Know the types of water damage and make sure you’re covered for before it’s too late.
Sewer Backup (Water Escape)
Sewer backup coverage has been around for many years.
When the majority of people hear the words “sewer bckup,” they think about a family member, friend or neighbor who has experienced water in their basement.
This coverage has been revised over the years. However, it currently protects homeowners from a sewer backing up, septic backup, or sump pump malfunction or failure. In other words, sewer backup refers to the discharge of “dirty water” into your home from your septic tank, drains, or pipes.
Sewer back-up most commonly occurs when rain or snow builds up in your municipality’s sewer system.
Prevention methods such as sump pumps, battery backup systems, generators, and backflow valves have all contributed to helping to reduce your risk of having a loss of this nature.
Overland Water
Overland water coverage protects you against damage in your home from the point of, or above, ground level.
The majority of people will have exposure to overland water losses through torrential downpours, spring runoff, or by overflow of river or lake.
This coverage protects your home from the above situations. In addition, it also includes water damage (for most companies) caused by downspouts, eaves troughs, and drains.
It is important to ensure that your gutters and eaves troughs are clean and that the water is draining away from your house.
Overland coverage has been a recent addition within the insurance industry. In previous years, if a loss occurred as a result of overland water damage the company may have declined to pay the claim.
The insured would have been responsible for repairing any damages to their basement and the insurance company would have referred to this as a maintenance issue.
Again, this type of insurance coverage has changed more recently.
Ground Water
This type of water damage differs from overland water damage because it takes place below the ground.
Ground water coverage is an optional coverage, but it protects you from damage caused when water suddenly and accidentally enters through foundation walls or floors.
Natural weather patterns are a common cause for ground water damage. This includes flooding from nearby water sources or a large amount of rain flow in a short period of time.
When you are shoveling, make sure to shovel the snow away from your house. Build-up of snowbanks on the side of your house may result in water seeping into your basement when the snow melts.
Requirements When You Leave On Vacation
It is important to remember to turn off your main water supply and to have a trusted friend or family member check your house regularly when you are away on vacation or on a business trip. Failure to take these preventative measures may result a water claim being denied.
High Risk Areas
Each geographical area in Canada is given a water risk rating. This rating is used by insurance companies to determine how much water coverage can be offered. For example, water coverage might not be available for some houses that are located close to the Welland River and Grand River in Southern Ontario due to there being an increased chance of flooding.
In a different instance, your home could be in a location that has a very low chance of flooding, in which case water coverage would be available at a much cheaper rate. It is important to call your hometown broker to inquire about if water coverage is available for your home.
Trust a Hometown Insurance Broker Who Knows Water Damage
At Duliban Insurance Brokers, we know everything there is to know about protecting your home against water damage. We are experts in the industry. We’ll strive to keep you updated when new water coverages become available by all 18 insurance companies we represent.
Duliban Insurance Brokers are your hometown brokers with friendly and personable service. We treat you like family, because we ourselves live in our local communities around Niagara. It is very important to us to ensure that every person has the right water damage coverage, especially with all of the options available.
We urge everyone to contact one of our three office across Niagara and Haldimand at Duliban Insurance Brokers online or at 1-855-385-4226. We would love to hear from you!
