According to a recent statistic, one out of every three Canadians aren’t aware of what types of water damage their homeowner’s insurance policy covers. In our area, severe weather patterns, rising temperatures, and record storms have become more common, making it more important than ever to understand your water damage coverage options and what types of damage your homeowner’s insurance policy covers.
Most homeowner’s insurance policies cover damage caused by sudden burst pipes or broken appliances, but limitations often do apply if freezing was the cause. While this is a great start, you may want to consider adding additional coverage to your overall policy to cover specific types of water damage. While different insurers offer different coverage options and coverage can be limited or restricted in certain places, here are three add-on options you should consider:
- Sewer backup—This insurance option provides coverage for damages that occur when water suddenly backs up from the sewer system and flows into your home through the sewer, sump pump, drainage system, or septic system.
- Overland water—When water comes into your home as a result of a nearby body of water overflowing due to heavy rain or snow melt, this type of add-on provides coverage for damages.
- Groundwater—When water enters your home suddenly and accidentally through your basement, foundation, or floor, groundwater coverage can help you recover.
As we all know, spring is upon us and our area is prone to flooding. We want you to be well informed of your existing coverage as well as the different coverage options available to you. Contact us at St. Clair Insurance Brokers Inc. to set up a consultation with one of our insurance professionals to go over your current coverage and find out what additional coverages may benefit your home and peace of mind.