Be Flood Ready
Be Flood Ready
Why is Overland Water Coverage Important?
Weather patterns are changing worldwide and it’s important to learn about how they are directly affecting your insurance coverage.
Based on weather patterns in recent years, experts say it’s likely we will see more weather-related incidents occurring each year.
The coverage being introduced today is available through a wide variety of Bryson’s insurance markets. It can be added to your policy mid-term. Whether you rent or own a house, condo, rental property, seasonal cottage or secondary property, there are options available for you. Tenants policies are also available.
Certain conditions and restrictions are applied to coverages, so it’s best to speak with one of our licensed insurance professionals. They can discuss your individual needs and provide specific solutions.
- Major floods represent 40% of all natural disasters recorded in Canada
- Insurance Bureau of Canada reports $3.2 billion in water claims for 2013
- Canada has 20 more rain days per year compared to the 1950’s
- Severe weather events are now predicted to occur every 6 years
Understanding Water Protection
Base Policy Water Coverage
Protection for loss or damage resulting from events such as burst water pipes.
Sewer Back-Up
Protection for loss or damage related to the back-up or escape of water or sewage from sewers or drains. It’s important to note that this coverage does not protect you in the event of overland water entering your home.
Overland Water (OWE)
Protection for loss or damage related to water entering a property from the sudden accumulation of water from: Heavy Rains, Spring Run-Off and Overflow from Lakes and Rivers.
Each insurance company is providing coverage slightly differently, so please contact us to discuss your individual needs.
What’s Changing?
Coverage for overland or flood water is not included for most insurance companies now and is in fact specifically excluded from your coverage.
In addition, if you do not upgrade your coverage, the sewer backup coverage that may already exist will not provide you with coverage if the water event includes overland or flood waters.
What you can do to protect yourself
Premiums are affordable and average between $25 and $100. High risk areas may have higher premiums.
Some insurers have reduced the price of sewer back-up to help make Overland Water Protection more affordable for you. Deductibles for this new coverage match your existing sewer back-up deductible.