Flooding worries are on many minds following the dramatic events in Sherbrooke, Quebec last week and as rain starts to fall in Alberta this spring. But homeowners looking to insulate themselves from flood damage can’t look to Canadian insurance companies for help.
According to the Insurance Board of Canada, 61 per cent of Canadians think their home insurance covers them in case of overland flooding. Sixty one per cent of Canadians are wrong.
The IBC’s Pierre Babinksy says insurers in Canada don’t offer protection against flooding because they think floods, unlike fires, earthquakes or hurricanes, are what he calls “certainties.”
“It’s very difficult to assess the risk in order to quantify it and in order to capitalize accordingly cover any damages that would be incurred,” he says.
However, flooded homeowners can usually seek assistance from their municipalities, which are in charge of distributing federal and provincial flood aid. Babinsky does encourage homeowners to contact their insurers in all cases of water damage in order to see if they are eligible for reimbursement.
Excerpted from CJAD News
ILScorp has partnered with the Restoration Industry Association to provide a Basic Water Loss Training Course. This entry-level online training program addresses basic, broad knowledge for those interested in the practice of water damage restoration. One of the main goals of a water loss restorer is to return safe indoor environments to buildings that have been affected by a water intrusion. This online course is excellent training for new water loss field staff, administrative, HR, marketing staff and restoration professionals.
Visit us at www.ilscorp.com or call us a 1-800-404-2211 to join the more than 23,000 other Canadian insurance professionals who are learning with ILScorp every year.
