Sewer Back-up coverage is an optional coverage that for most, can be added to your property insurance policy. Due to the frequency of extreme weather events throughout Ontario, this additional coverage is something you should seriously consider.
Many insurance companies have recently started to offer additional protection from water damage, which is why we felt wanted to share with you, our valued clients, a four part blog series on everything you need to know about water damage. In part four of this series, we’ll share the common questions surrounding Sewer Back-up Coverage.
1 | What Does It Protect Against?
Sewer back-up is optional coverage that protects against water backing up and entering your home from your municipal sewer system, private septic system, or through sump pump failure. Most commonly, sewer back-up is a result of large amounts of water from rainfall or snowmelt overwhelming the system. Many insurance companies have changed their Sewer Back-up wording and what it covers.
2 | Am I Eligible?
Sewer backup coverage is an optional coverage that is available to most homeowners. It can be added to a standard homeowner’s policy. Those who live in areas that are more prone to flooding and sewer back-up are more likely to have this optional coverage.
3 | Is It enough?
To clean up a finished basement, the average cost is between $35,000 to $60,000. With extreme weather events, Sewer Back-up coverage might not offer your property enough protection. Still, it is an option for homeowners who want to keep their premiums as low as possible.
4 | Do I Have Other Water Coverage Options?
You can purchase additional coverage that is customized to meet the needs of where, and how, you live. There are many variables that affect the amount of coverage you need. Also, any preventative factors that you have installed may reduce the premium you will pay.
There are many different water coverage options for you to consider. Make sure you check out all the blogs in our water damage blog series.
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WATER DAMAGE BLOG SERIES
>> 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