Your home insurance can protect you against water damage but unfortunately not in all cases. They key is to choose the right type of additional coverage when you purchase your policy. I’ve outlined three additional coverage options you can add to your home insurance policy which will provide additional protection in the event of water damage.
In a standard home owner's insurance policy, coverage is generally included for damage caused by a city water main break and/or sanitary installations. However, damage caused by water infiltration is covered only if you purchased additional coverage called ‘’above ground water damage’’.
Furthermore, damage caused by ground water or sewer back-up is covered if you purchases additional coverage titled ‘’sewer back up damage’’ which can often be bundled with an additional coverage titled ‘’ground water damage ’’. Ground water damage would cover you for ground water accumulation from natural sources that can infiltrate through basement walls, doors or other openings.
Lastly, damage caused by flooding when a body of water overflows (if you live near a lake or river) is only covered if you purchased additional coverage titled ‘’overland water coverage’’. This fairly new option is presently only offered by a handful of insurance providers and eligibility is primarily based on your property’s risk factors.
In the event your insurance provider does not offer the ‘’overland water coverage’’ in your area and you have been affected by water damage caused by the overflow of a body of water, financial aid might be available through an assistance program by Quebec's Minister of public security. To find out if you are eligible, please refer to the following link: http://www.securitepublique.gouv.qc.ca/en/civil-protection/financial-disaster-victims.html
Aristotle Sclavounos is a damage insurance broker at Aspler, Joseph, Jutras Inc. He can be reached at 514-625-8429 or at firstname.lastname@example.org.