Water damage is the #1 residential insurance claim in Canada. What you need to know.
Water damage now outranks fire as the leading source of claims among residential insurers and accounts for over 50% of property insurance claims in Canada.
Although water damage usually causes similar types of destruction—including destroyed floors and drywall, potential mold and damaged electrical and heating systems—the cause of flooding and how the water enters your home can dictate whether or not the damage will be covered by your home insurance policy.
If you live in a flood-prone area, you may be able to purchase what is known as overland coverage. For floods such as those caused by burst pipes, cracked foundations or a leaky washing machine, however, standard (also known as comprehensive) homeowners’ insurance usually helps to cover the cost of water damage restoration.
Keep in mind that under most home insurance policies, accidental flooding is not covered when your home is vacant for 24 to 48 hours depending on your policy.
WATER DAMAGE AND FLOOD RESTORATION FOR:
Vancouver, Burnaby, Surrey, Coquitlam, Delta, North Vancouver, Richmond, New Westminster, Maple Ridge, Tsawwassen, Steveston, Port Coquitlam, Port Moody, West Vancouver, White Rock, Marpole, Oakridge, Dunbar-Southlands, Kitsilano, Mt Pleasant, Killarney, UBC, West Point Grey, South Vancouver, Lynn Valley, Deep Cove, Belcarra, Anmore, Cloverdale, Pitt Meadows, Annacis Island, Metrotown, Burnaby Mountain