Edmonton fresh water flood insurance
The historic floods of June 2013 demonstrated the unpredictability of nature. Although the floods did not hit Edmonton as hard as Calgary or High River, that city does experience regular spring flooding. Flatter land areas have suffered more damage as rainwater is forced into homes. Increasing precipitation levels, which have caused millions of dollars in flood damage, have impacted properties located along the North Saskatchewan River. Whether someone’s property was damaged due to torrential rain or rising river waters, the repair costs can be expensive and insurance companies, until now, would not cover these types of water risks.
Our climate is changing and those changes often bring increased annual levels of rain and snow. Historically, water damage and sewer back-up are among the most common types of home insurance claims in Alberta. Acknowledging a need for overland water coverage, insurance companies have spent much time researching how they can introduce this coverage to Alberta for reasonable premiums.
The Overland Water Endorsement is one solution to this problem. The endorsement is added to your standard home insurance policy to provide you with coverage for damage resulting from water breaching your home. The Overland Water Endorsement is available for homeowner, condo and tenant policies.
Why should I consider purchasing fresh water flood Insurance?
Flooding is the most common type of natural disaster in Canada1 and many homeowners assume coverage for flood related losses is included in their standard home insurance policy. For the first time, you can have the peace of mind that your home and possessions are protected in the event of a flood related loss.
1Source: Canadian Disaster Database
Contact us today to speak with a licensed insurance broker about:
Whether or not you qualify for coverage
Exactly what is covered
How to add the endorsement to your home policy
What your monthly premiums would be
Understanding fresh water flood insurance
Why is this coverage being offered now?
Until now, fresh water disasters such as flooding were excluded from home insurance policies because the risk levels are so …more
Do I need both sewer back-up coverage and overland water coverage?
Yes, you will need both endorsements on your policy to be fully covered for water events. Sewer Back-up and Overland …more
How would I make an overland water claim?
Once you have added Overland Water Coverage to your insurance policy, you will be given a phone number for a …more
What is covered by an Overland Water Endorsement?
Most Overland Water Endorsements will cover losses resulting from damage to your house, condo and contents cause by fresh water …more
What’s the difference between the Sewer Back-up Endorsement and the Overland Water Endorsement?
A Sewer Back-up Endorsement and an Overland Water Endorsement are two very different types of coverage. Sewer Back-up covers damage …more
What is an Overland Water Endorsement?
Home, condo and tenant’s insurance policies typically do not include overland water damage coverage. Due to the increase in water-related …more
Why should I contact floodinsurance.ca to purchase Overland Water Coverage?
Two of Canada’s top brokerages, Sharp Insurance and Rogers Insurance, have partnered to provide you with the most comprehensive fresh …more
Do I still need flood insurance if I am a renter?
We recommend that you add Overland Water Coverage to your tenant’s policy, especially if you live on the ground level …more
Is Overland Water Coverage available where I live?
Overland Water Endorsements are available to most homeowners, condo owners and tenants in Alberta, but a small percentage of dwellings …more
What’s the difference between an Overland Water Endorsement and “flood insurance”?
Historically, the term flood in the Canadian insurance industry applies to water originating from a body of salt water, while …more
How much does an Overland Water Endorsement cost?
The cost of adding an Overland Water Endorsement to your home, condo or tenant’s insurance policy depends primarily on your …more
Do I need flood insurance if I don’t live in a high risk area?
As we saw in 2013, flooding causes billions in damages and can devastate an entire community. Water damage can happen …more
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