The old saying goes: “If you don’t like the weather in Calgary, wait a few minutes”. However, a few minutes can seem like a lifetime if your house is being damaged by the unsuspected vandal, Mother Nature. The great Alberta flood of 2013 is still top of mind when considering personal property risks. The $1.7…
Flood insurance may not be on your radar, especially if you do not live by a river or lake. Even so, overland water damage to your home can be caused by a myriad of factors other than rising water levels. This is especially the case over the past 5 years as weather patterns in Alberta…
Home, condo and tenant’s insurance policies typically do not include overland water damage coverage. Due to the increase in water-related weather events, many insurance companies are now offering optional coverage add-ons that are called endorsements. The overland water endorsement, which could vary from insurer to insurer, will usually protect you from losses resulting from damage…
Historically, the term flood in the Canadian insurance industry applies to water originating from a body of salt water, while overland water is defined as originating from fresh water bodies of water such as lakes and rivers. Flooding caused by any body of salt water such as a tsunami, tidal waves, currents, etc., is still…
The cost of adding an Overland Water Endorsement to your home, condo or tenant’s insurance policy depends primarily on your dwelling’s location. Just like your standard home insurance policy, rates are calculated based on your risk for an insurance claim. If you reside in a high risk flooding area, your rates will most likely be…
Most Overland Water Endorsements will cover losses resulting from damage to your house, condo and contents cause by fresh water entering your home. This includes damage resulting from melting snow, excess rain, and overflowing riverbeds.
Overland Water Endorsements are available to most homeowners, condo owners and tenants in Alberta, but a small percentage of dwellings will not qualify because the risk of flooding in that area is too high. The best way to determine your coverage eligibility is to fill out the form below and one of our expert brokers…
Yes, you will need both endorsements on your policy to be fully covered for water events. Sewer Back-up and Overland Water Endorsements work together to provide you with comprehensive coverage. After the floods of 2013, many insurance companies placed tighter guidelines and increased exclusions on sewer back-up coverage. One major exclusion, for example, is that…
Water damage due to the overflow of riverbanks and excessive rain has been an increasing concern for many Canadians, especially Albertans. In fact, it is well known in the insurance industry that changing weather patterns are resulting in a significant increase in weather related claims. The 2013 Alberta flooding was an example of how unpredictable…
Once you have added Overland Water Coverage to your insurance policy, you will be given a phone number for a claims hotline that is available 24-7 for your convenience. A claims representative will walk you through the process at that time.