Flood damage and home insurance: Facts and advice

March 20th, 2015 by

As we noted in an article around this time last year, the warmer weather in March is a welcome change, but it also comes with increased risks, especially in terms of flooding. Particularly for those who live in an area that experienced a deep freeze this winter, it is important to know how to prevent potential damages from flooding and also understand what is and is not coverage by standard homeowners insurance.

Locations that have experienced a deep freeze may take longer to thaw, meaning it will be more difficult for the ground to absorb water from the rain and melting snow. This may lead to a greater risk for flooding near your home.

Moreover, overland flooding, the kind that is caused by a spring thaw we described, is not usually covered by home insurance. The Insurance Bureau of Canada explains why this is the case:

"Flood coverage isn't available because only a small percentage of the population is at risk. Since the purpose of insurance is to spread risk among many policyholders, this type of insurance for those at risk would be unaffordable."

Yet, given the rising number of flood claims across Canada, it is crucial to make sure you're taking the necessary steps to protect your home and your family:

  • Make sure there are no valuables on your basement floor.
  • Have a pump on hand.
  • Waterproof your home through installing the proper doors, windows and walls.

If you have questions about home insurance, contact the experienced team at Fundy Mutual. We have been serving Sussex, New Brunswick and the surrounding communities for over 70 years and take a proactive, dedicated approach to your insurance needs.