When water remains where it is supposed to, it can be beautiful. When it goes bad, it goes really bad. Most Albertans are protected for backing up of sewers and water damage from burst pipes. However until now flood insurance for your home has not been available. Previously, Albertans suffering flood damage had to seek limited compensation from the Alberta Emergency Management Agency’s Disaster Recovery Program (DRP). Beginning in June 2015, Canadian insurance companies began to offer flood insurance. The Province only approves requests for a disaster recovery program if insurance is not available to cover the loss. Flood insurance is now generally available as an endorsement to your home insurance.
Not all residences will be eligible for flood insurance. Residences located in existing flood plains or adjacent to streams or rivers may be excluded. Just because it hasn’t happened to your home yet, don’t assume it won’t. In the last five years, more than 40 Alberta communities have suffered flood damage.With our changing weather patterns it may be just a matter of time. Flood losses are expensive. An average flood loss costs more than $45,000 to repair.
As with many issues, prevention should form your first line of defense against flooding:
- Inspect your roof and clean debris from your gutters. Water that is unable to flow away from your home will find its way into your basement.
- Confirm the slope of your lawn is away from your home. Back fill low spots as necessary.
- Ensure your eaves trough downspouts extend at minimum 8′ from your home.
- Inspect and test your sump pump every spring. Do a water test and make sure it is serviceable.
- Check your foundation for cracks. If you have small leaks, have them repaired. They never go away on their own!
- Install window well covers to keep out rain and snow.
- Install a Mainline Backwater Valve: These valves close automatically if the sewer begins to back up. This simple device can prevent thousands of dollars damage.
Determining which homes are more susceptible to flood loss was a challenging task. Extensive work has gone into flood geo-mapping of our communities. The mapping includes an assessment of elevation, grading, soil permeability and municipal infrastructure. Once completed, insurance companies were able to determine the price for flood insurance based on the potential of your property.
Flood Insurance Protection
The cost of flood insurance is surprisingly low for most residences. (Homeowners, Tenant and Condos) We recommend you contact us to review your coverage options.