I’ve switched our insurance over to InsureMy, a progressive new insurance brokerage working in Alberta and Ontario.
A few days ago, I received an email notification letting me know that overland water coverage has been recently approved for homeowners living in select areas of Canada. Here are the details, in case you would like to add this option to your insurance portfolio.
How It Works
The term “overland water protection” is actually a form of flood insurance, which has never been available in Canada before. “Overland water” is usually defined as overflow coming from lakes and rivers, and water that builds up due to heavy precipitation or large volumes of melting snow in the spring.
Here are some other important details:
- Flood insurance won’t cover water damage resulting from the planned release of a dam, dike or levee, unless this action was taken as a flood control measure
- Leaks, seeping water and water that originated within the home (from a burst pipe, for example) are not covered
- Overland water protection is designed to offer insurance for weather-related events only
We don’t live in a coastal area, but it’s important to note that overland water protection, as it’s currently being offered, won’t protect against events like tidal waves, tsunamis or maritime storms. It covers damage caused by fresh water only. Salt water does not qualify.
What About Sewer Backup Coverage?
We’re already carrying sewer backup coverage – which is essential, if you ask me – but overland water protection adds another layer of protection. Sewer backup coverage kicks in if your home is damaged as the direct result of an overflow or backup in a municipal sewer line. Paired together, the two should provide excellent protection against all kinds of water damage.
Protect Your Home from Water Damage
Even homeowners who opt for overland water protection should take proactive steps to minimize their risks. One of the best ways to protect property is to get it out of harm’s way altogether. There are a few important ways to do this:
- Get rid of clutter in the garage
- Make sure the basement is ready for a worst-case scenario
- Store valuable items in the upper reaches of a home whenever possible, so that they won’t be submerged underwater even in the event of a flood
As I’ve mentioned in the past, umbrella insurance is also a smart thing to carry. It covers gaps between various policies, ensuring that property is protected even if there are minor exclusions and technicalities in the homeowner’s various existing policies that could leave some items at risk.
Learn More from InsureMy
I strongly recommend that my readers learn more about overland water protection from this comprehensive FAQ provided by InsureMy. If you’d like to learn more, InsureMy’s friendly representatives are more than happy to assist you.