Close X
Friday, November 1, 2024
ADVT 
National

Many Insurance Policies Don't Cover Flooding, And Homeowners Could Be On Hook

Darpan News Desk The Canadian Press, 08 May, 2017 12:24 PM
    TORONTO — Insurance industry experts say many Canadian homeowners aren't insured for flooding and could be left footing at least part of the bill after heavy rains hit parts of Quebec and Ontario.
     
    Craig Stewart, vice-president of federal affairs for the Insurance Bureau of Canada, estimates that only 10 to 15 per cent of Canadians have so-called "overland flood insurance."
     
    Stewart says that's because the product, which is offered as an add-on to insurance policies, has only been available since late 2015.
     
    Insurers started to offer the product after both Toronto and Alberta were hit with severe flooding in 2013, although it took some time to roll out.
     
    Stewart says most homeowners grappling with flood damage will be left relying on government assistance, which typically covers less than insurance would.
     
    Jason Thistlethwaite, an assistant professor in the faculty of environment at the University of Waterloo, says many Canadians simply aren't aware that they need to purchase an add-on to cover flooding.

    MORE National ARTICLES

    Calgary Couple Accused Of Abusing Their Nieces And Nephew To Learn Fate In June

    Calgary Couple Accused Of Abusing Their Nieces And Nephew To Learn Fate In June
    The children's parents were killed in a car crash in the U.S. more than a decade ago and the kids were adopted by their aunt and uncle, who moved them to Calgary.

    Calgary Couple Accused Of Abusing Their Nieces And Nephew To Learn Fate In June

    Help Surrey Police Identify This Fraudster Who Drained Thousands Of Dollars From A Victim's Bank Acc

    Help Surrey Police Identify This Fraudster Who Drained Thousands Of Dollars From A Victim's Bank Acc
    Surrey RCMP is asking for the public’s assistance in identifying an alleged fraudster that drained thousands of dollars from a victim’s bank account.

    Help Surrey Police Identify This Fraudster Who Drained Thousands Of Dollars From A Victim's Bank Acc

    U.S. Man Accused Of Taking Loaded Gun To CN Tower

    U.S. Man Accused Of Taking Loaded Gun To CN Tower
    TORONTO — An American man visiting Toronto is facing charges after police say he allegedly tried to take a loaded gun into the CN Tower.

    U.S. Man Accused Of Taking Loaded Gun To CN Tower

    B.C. New Democrat Leader John Horgan Promises New Hospital, Urgent Care Centre For Burnaby

    B.C. New Democrat Leader John Horgan Promises New Hospital, Urgent Care Centre For Burnaby
    NDP Leader John Horgan says the money would come from a five-year, $10 billion capital investment plan that is part of the party's platform in the May 9 election campaign.

    B.C. New Democrat Leader John Horgan Promises New Hospital, Urgent Care Centre For Burnaby

    Justin Trudeau Says His Father Got His Brother Help In Dealing With Pot Charge

    Justin Trudeau Says His Father Got His Brother Help In Dealing With Pot Charge
    TORONTO — Prime Minister Justin Trudeau says his younger brother, Michel, was able to avoid a criminal record after he was caught with marijuana because of his father's connections.

    Justin Trudeau Says His Father Got His Brother Help In Dealing With Pot Charge

    Winnipeg Woman Fined For Posing As A Nurse To Get Job, Access To Drugs

    Winnipeg Woman Fined For Posing As A Nurse To Get Job, Access To Drugs
    WINNIPEG — A Manitoba nurse has been ordered to pay $10,000 for posing as another nurse to gain access to narcotics.

    Winnipeg Woman Fined For Posing As A Nurse To Get Job, Access To Drugs