Please scroll through the documents below for helpful tips and advice in regards to being prepared for any emergencies that might come your way!
Is Your Insurance Covering Your Risk?
Severe weather is becoming more common in Manitoba, making it critical for homeowners to be properly protected against flooding. Overland flood coverage is offered by many insurance providers and is typically combined with sewer backup and groundwater seepage. You do not have to live beside a river or lake to experience flooding. Heavy rains, snowmelt, water main breaks, and blocked ditches can also lead to flooding. All Manitobans are reminded to review their home insurance to see if they are eligible.
Here are some essential questions to ask your insurance provider to ensure you are adequately covered:
1. What water-related damages does my insurance cover? Understand the specifics of your insurance. Verify if overland flooding, sewer backup, and groundwater seepage are included.
2. What is the cost and coverage limit? Overland flood insurance usually costs between $100 and $300 annually. Confirm the exact cost for your situation and what your coverage needs are. For example, those with a finished basement may require higher coverage.
3. How can my property risk be reduced? Insurance providers use a variety of criteria to assess risk. Ask about what factors may influence your premium, such as installing a sump pump or backwater valve or repairing foundation cracks. Learn about more proactive approaches with this checklist.
Some properties may be considered too high-risk to obtain overland flood insurance. The Manitoba government is committed to supporting Manitobans facing disasters. If you cannot purchase insurance and experience damages from overland flooding, your damages may be covered if a Disaster Financial Assistance program is announced. The federal government, with provinces and territories, is developing a national flood insurance product to address this gap in overland flood insurance availability. The Insurance Bureau of Canada’s news release provides more information
