Is Flood Damage Covered by Home Insurance?
Is Flood Damage Covered by Home Insurance? This question doesn’t have a simple answer, as not all water damage is considered the same by your home insurance policy. Depending on how the water entered your home and where it came from, it may (or may not) be covered by your home insurance.
What is General Water Damage?
General water damage includes things like your dishwasher overflowing and causing a flood in your kitchen. Other examples include waterline breaks, and frozen or burst pipes. Coverage for this water damage is typically included in your standard home insurance policy. However, there are some optional coverages you could consider adding onto your policy.
General water damage includes things like your dishwasher overflowing and causing a flood in your kitchen. Other examples include waterline breaks, and frozen or burst pipes. In these instances, is flood damage covered by home insurance? Coverage for this type of water damage IS typically included in a standard home insurance policy. However, there are some optional coverages you should consider adding onto your policy.
What is Overland Water?
Overland water is considered “fresh” water that enters your windows and doors at ground level. Coverage for this covers damage from excessive rainfall, river flooding, spring runoff, and melting snow or ice. Unfortunately, it doesn’t cover damage from coastal water (saltwater), so events like tsunamis or tidal waves wouldn’t be included.
Sewer backup coverage, on the other hand, covers damage from the water that comes into your home through pipes, drains, septic tanks, or eavestroughs. Having the right coverage on your home policy is super important.
Is Buying Extra Coverage Worth It?
Is Flood Damage Covered by Home Insurance? We hope this article has been helpful in answering this rather complicated question. Some related information can be found on the Government of Canada website.
Water damage can be costly to repair. Adding extra coverages to protect your belongings would cost less than the cost of fixing or replacing everything that was damaged. Sewer backup and overland water coverage also include additional living expenses if you have to move out of your home while damage is being repaired.
These coverages are definitely worth the increase to your monthly premium, especially if you live in a flood-prone area. At the end of the day, it’s better to be safe than sorry!
Thinking about upgrading your home insurance? Ask a broker today by visiting our quote page or by calling us directly at 1-877-454-4476.