IS A LEADING CAUSE OF PROPERTY DAMAGE & LOSS IN SASKATCHEWAN
What is overland flooding?
Overland flooding occurs when water flows over land — not up from under the ground or due to escape from infrastructure such as plumbing — and seeps into buildings through windows, doors, or cracks. This is most often caused by heavy rainfall, snowmelt runoff, or rising water levels from nearby lakes, rivers, or ponds.
Flooding is one of the most common causes of insured damage in Saskatchewan, costing an average of $54.4 million in losses each year. In fact, according to the most recent available statistics, there are approximately 42,000 residential properties alone at risk of flooding. Of those, three in five have a 22%-or-greater chance of flooding over the span of a 25-year mortgage.
Fortunately, there are more tools than ever before to defend at-risk structures against flooding. Only 37%, though, are properly defended today.
It's time to take action.
Am I covered?
When a homeowner, business, or tenant experiences a flood, how it happened seems secondary to repairing the damage. But the specific cause of the flood can be the determining factor in whether your insurance will cover the losses, or whether you'll be out-of-pocket to pay for repairs and to replace damaged property.
For example, if a pipe bursts in your house, it is typically covered by a basic homeowner's policy. Damage caused by sewer backup or overland flooding, however, may only be covered by purchasing an optional, standalone endorsement — which is a fancy word that simply means 'add-on to your insurance policy.'