This post brought to you by Insurance Hunter. All opinions are 100% mine.
Cost of housing in Canada particularly here in British Columbia is more expensive compared to its neighbouring cities. Ordinary individuals can hardly buy a house nowadays. In fact, some prefer renting than owning. When considering of owning a house, make sure you know the coverage and not of your home insurance policy. Surely nobody wants to spend too much money from their personal wallet just for fixing the home damage caused by a sewer backup. Well, do you?
Based on Infographic found below which is provided by Insurance Hunter, the major causes of home insurance claims in Canada are the following:
Insurance Hunter – Home Flooding Caused By Sewer Backup – An infographic by the team at Insurance Hunter
In addition, the image illustrates that in the recent estimates, the Canadian insurance industry pays 1.7 Billion each year in claims due to water damage. However, despite of that high digital figure, in Toronto there were 38% residents that experienced sewer backup but they didn’t know if they had insurance coverage for sewer backup. Same with Edmonton, there were respondents who were not aware if their house got covered.
As the year goes on, the record of claims due to water damage increases for about 1.68 Billion/year. Homeowners must need to take necessary actions to protect their valuable assets. They have to see to it the downspouts extend at least 6 feet from the basement wall. The water should drain away from the house and neighboring homes toward the streets. Backyard or back lane. And most importantly, know your home insurance coverage. If you haven’t got one don’t wait for a flooding incident before you will apply one. With the unpredictable weather we have experienced lately, it is always better to prepare than to feel sorry in the end.
Guys, I hope you learn something while you are here today. Before you’ll be totally leaving my site I’d like you to check Insurance Hunter website for more details on home insurance. If you got a blog you can also embed the Infographic in your blog to spread the info to everyone, the code is available for grab right here http://www.insurancehunter.ca/blog/insurance-hunter-home-flooding-caused-sewer-backup. Thank you.