Insuring your home against flooding

Available coverage for flooding and water damage

When one speaks of water damage, your first thought is of floods, torrential rains, snow melt or sewer back-up. Such damage can be covered by adding additional coverage (endorsements) to your home insurance policy. Check out what coverage your policy provides or contact your insurance representative.

Homes located in flood zones

Citizens who choose to live by a body of water must know and accept the inherent risks. Adding flood coverage may be more difficult or more costly depending on how likely it is a flood will occur. Some regions or neighbourhoods are regularly flooded during the spring snowmelt, while others never are.

Since underwriting and rating rules vary from company to company, it is recommended that you talk to your insurance representative first.

Good to know
If your home is located in a flood risk zone, you can still benefit from coverage for the usual perils, such as fire, theft or vandalism.

Emergency government assistance

Unless you have private insurance or sufficient coverage, citizens who suffer a loss after a flood may qualify for assistance under the Ministry of Public Safety's Financial Assistance Program.

By-law endorsement coverage: coverage to consider

Your municipality may prohibit reconstruction of your home on its current site depending on the zone mapping. If this is the case, check out the by-law endorsement coverage which guarantees, among other things, replacement cost compensation for the reconstruction of a home elsewhere than on the current site. Contact your insurance representative to find out.