What is Flood Insurance?Flood insurance is the specific insurance coverage against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and floodways that are susceptible to flooding. In 2013, Canadian insurers paid out a record $3.2 billion to policy holders for losses from weather-related events.
Even if you don’t live in a flood prone area, you are still at risk of flooding. Floods can occur as a result of excessive rainfall, snow runoff, landslides, overflowing rivers and other weather-related events. Contact us to learn more about the right amount of flood coverage for your home. |
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