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

    Waterloo, Ont., To Turn Dog Poop Into Energy, Fertilizer Through Pilot Program

    Waterloo, Ont., To Turn Dog Poop Into Energy, Fertilizer Through Pilot Program
    WATERLOO, Ont. — The Ontario city best known for headquartering BlackBerry may soon be known for an entirely different commodity — dog poop.

    Waterloo, Ont., To Turn Dog Poop Into Energy, Fertilizer Through Pilot Program

    Border Towns Quietly Mobilizing To Help Refugee Claimants Coming To Canada

    Border Towns Quietly Mobilizing To Help Refugee Claimants Coming To Canada
    PLATTSBURGH, United States — As the flow of asylum-seekers crossing into Canada continues, residents in towns along the Canada-U.S. border are quietly mobilizing to help the travellers who pass through in search of better lives.

    Border Towns Quietly Mobilizing To Help Refugee Claimants Coming To Canada

    British Columbia's Election Heats Up As Campaign Nears Halfway Mark

    British Columbia's Election Heats Up As Campaign Nears Halfway Mark
    VANCOUVER — British Columbia's election campaign is nearing the halfway mark and the leaders of the province's main political parties are battling for votes.

    British Columbia's Election Heats Up As Campaign Nears Halfway Mark

    Man Dead, 2 People Injured After Pickup Truck Crash In Abbotsford

    Emergency Services were called to a reported off-road crash in the area of Straiton Road and Willet Road early this morning at 3:45 am.

    Man Dead, 2 People Injured After Pickup Truck Crash In Abbotsford

    Driver Dies In Early Morning Commercial Drive Car Crash In East Vancouver

    Driver Dies In Early Morning Commercial Drive Car Crash In East Vancouver
    Firefighters Had To Cut Off The Roof Of The Driver's Car For Paramedics To Start Performing CPR

    Driver Dies In Early Morning Commercial Drive Car Crash In East Vancouver

    Liberal Leader Christy Clark Says U.S. 'Greed' Driving Softwood Spat

    Liberal Leader Christy Clark Says U.S. 'Greed' Driving Softwood Spat
    WILLIAMS LAKE, B.C. — British Columbia Liberal Leader Christy Clark says the United States lumber industry is "driven by greed," and she is the candidate who can lead the province to a softwood agreement with American producers.

    Liberal Leader Christy Clark Says U.S. 'Greed' Driving Softwood Spat