Insure your home for weather damages

Disastrous weather causes billions in damage payouts

June 15th, 2015 by admin

Insure your home for weather damages

A study conducted in 2014 found that many Canadians are not prepared well enough for extreme weather conditions that recently brought peril to several regions. The RBC Canadian Water Attitudes Study of over 2,000 people found that only nine percent have taken precautions to protect their homes from the disastrous effects of severe weather. Fifty-two percent stated that they felt prepared to deal with severe thunderstorms, 38 percent with flooding and only 27 percent with hurricanes.

In 2013, Canada experienced the worst severe weather insurance losses in its history. The Insurance Bureau of Canada claimed that the largest disaster experienced was the flooding in southern Alberta, which caused over $1.74 billion in damage that was thankfully insured. The ice storms in southern Ontario caused approximately $200 million in insured losses, which elevated the total damage payouts to policyholders in 2013 to about $3.2 billion.

Homeowners should ensure that they have an emergency kit with enough to keep themselves and a few others safe for at least 72 hours without available assistance. Kits need to include bottled water, non-perishable foods, first-aid items, a blanket or two, any extra clothing needed and battery-operated candles.

Measures can be taken to protect the home ahead of time by focusing on resolving any weak points where wind and water can flow in, such as windows and doors. Here are some additional suggestions:

  • Check for any missing, curled or damaged shingles.
  • Contact a contractor or repair person if any issues come to fruition.
  • If hiring a contractor, confirm warranty details during estimation.
  • Take a room-by-room inventory of all belongings

The aftermath of an event can be extremely stressful and you can't process your thoughts efficiently. That's why it's best to make sure your home is covered for weather-related damages before a big storm. Contact Fundy Mutual today for a home insurance quote.