Prepare for Flood Season: IBC
Toronto, ON (Apr. 13, 2020) – With warmer weather arriving, snowmelt coupled with spring storms once again increase the risk of spring flooding across Canada. Provincial Emergency Management authorities have predicted certain communities across the country will likely experience flooding and Canadians should be prepared.
Municipalities are already taking action to reduce the local impacts of flooding and Insurance Bureau of Canada (IBC) is informing consumers about how they can prepare for the coming flood season and help protect themselves and their property from damage.
During a severe weather event, everyone’s priority must be their personal safety and the safety of loved ones and neighbours. Given the current COVID-19 pandemic, emergency responders may have reduced resources. As such, this places greater emphasis on individual preparation.
A number of Canadian insurers now offer residential overland flood insurance, which, along with sewer backup coverage, helps reduce the financial risk of inland flooding events. These products are optional and must be added to home insurance policies for an additional premium.
Contact your insurance representative to ensure your property is protected. Insurance representatives are an essential service at this time and although they may not be available in person, they can still respond to your insurance coverage questions , as well as assist with any claims.
Tips to protect your home from water damage:
- Keep a current and detailed home inventory.
- Assemble a disaster safety kit.
- Create a 72-hour emergency preparedness plan for your family.
- Visit IBC website for more tips, including: Water Damage – Are you Protected? (PDF)
Even while all levels of government are coping with the pandemic, we still face the same risks from extreme weather, especially flooding, that come every spring. Canada still needs a National Action Plan on Flooding as committed to by the present federal administration.
Components of a National Action Plan on Flooding include investing in resilient infrastructure to protect communities from floods and wildfires, improved flood mapping, measures to re locate those at highest risk out of harm’s way, and the availability of affordable overland flood insurance to remaining Canadians at high risk of flooding.
IBC continues to advocate for all stakeholders to work together to reduce the financial strain caused by flood events. For every dollar paid out in insurance claims for damaged homes and businesses, Canadian governments and their taxpayers pay out much more to repair public infrastructure damaged by severe weather.
Visit IBC’s website for information on how to prepare for a disaster and ways to prevent flood damage to your home.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 126,000 Canadians, pays $9 billion in taxes and has a total premium base of $54.7 billion.
For more information, visit www.ibc.ca.
Source: Insurance Bureau of Canada (IBC)
Tags: flood, Insurance Bureau of Canada (IBC)
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