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What do you mean, “Flood”?

Posted Aug 28th, 2017 in Media, General, Insurance Tips, Home Insurance, Did You Know?, In the News

It is important to understand the terms of your policy, and the extent of it, especially when it comes to losses regarding floods and water damage. 

When it comes to informing yourself on floods and water damage it’s important that you understand all the terms and coverage options. We created a four part blog series on water damage so that our valued clients can inform themselves, in part three of this series we discuss everything flood related.  

What Is a Flood?

Make sure you review your policy and how it defines “flood”. For example, heavy rainfall might cause water to enter your home, causing damage to your floors, walls, and belongings. However, if your policy defines “flood” as the rising of, the breaking out, or the overflow of any natural or man-made body of water, your damages might not be covered. In the context of this policy, to be considered a “flood” a body of water would need to exist prior to the rainfall in order for it to rise, break out, or overflow from a predetermined boundary or level.

Flood Exclusions

Pay attention to the “flood” exclusions in your policy. Some policies exclude damages caused by seepage, leakage, or an influx of water from natural sources through the walls or floor of your home. If the cause of damage falls under the flood exclusions in your policy, the policy will not cover that loss.

Additional Coverage For Water Damage

Damage from water-related events are more common than damages from fires or theft. Insurance companies are offering additional coverage for water damage. Consulting with your insurance agent can help to insure you have the right type of coverage for your home.

Let us help you navigate the terms and conditions of your policy. Contact Youngs Insurance if you have any questions or would like a no obligation personal property insurance quote.

>>Contact Youngs Insurance for a QUICK home quote 


>> PART 1 | Three Facts About Water Damage In Canada
>> PART 2 | Identifying the Source of Water Damage
>> PART 3 | What do you mean, “Flood”?
>> PART 4 | Four Common Questions Surrounding Sewer Back-up Coverage


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