Insurance provider Aviva Canada Inc. reports that 2013 was the worst year for water damage claims in the history of Canada, comprising 51 percent of all the property claims it received. Aviva foresees large water damage claims as an upward trend.
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Causes of Springtime Water Damage
In the spring when the land thaws, the resulting floods – known as overland flooding – and water damage can cause permanent structural damage to your home. Regular basement flooding can lead to a host of safety and structural issues and eventually reduce the property value of your home.
Not only is the number of claims on the rise, but also in the past 10 years, Ontario water damage claim values have increased by 136 percent, reports Canada NewsWire.
Why the dramatic increase? Wayne Ross, Vice President of Property Claims for Aviva Canada, explains: “The increasing investment Canadians are putting into their basements, combined with more frequent severe weather events and an aging sewer system that is unable to deal with large amounts of water within a short time period, results in a lot of homes experiencing damage.”
Homeowners’ Insurance and Water Damage
Many homeowners aren’t aware until it’s too late that most policies don’t include flood insurance. Many providers don’t even offer it because they can’t sell the protection at an affordable price.
Water damage that usually is covered under an Ontario insurance policy includes:
- water damage as a result of pipes that freeze and break;
- water damage from indoor appliance malfunctions;
- flooding caused by indoor plumbing, heating and air conditioning;
- damage to the interior of a home as a result of a leak in the roof; and
- sewer backup.
But flooding isn’t a part of homeowners’ insurance basic policy. Insurance Bureau of Canada explains: “Flood coverage isn’t available because only a small percentage of the population is at risk. Since the purpose of insurance is to spread risk among many policyholders, this type of insurance for those at risk would be unaffordable.”
Water damage from seepage is a huge issue for many homeowners. Your policy may or may not include coverage for seepage. If you do carry it, the damage must have occurred as a result of a sudden event in order to fall under seepage coverage and not as a result from a pre-existing or maintenance-related issue.
Preszler Law Can Assist with Ontario Insurance Claims
If you have experienced water damage in your home as the result of the spring thaw, we invite you to call our team at Preszler Law for assistance. We can comb through your policy, explain what your coverage entails and help you file necessary paperwork for the claims process.
We also will oversee your case diligently and alert you to any discrepancies on the insurer’s part. If you are unable to secure a fair settlement for your claim, we will search for ways to move forward with other compensation alternatives.
Contact the Preszler Law Firm in Ontario today to schedule a free consultation: 1-800-JUSTICE®.