Check your insurance for these 3 water-related coverages
The rainstorm and flood that hit Toronto in July 2013 resulted in insurance payouts of close to $1 billion. The windstorm in May 2018 wreaked $318 million in property havoc. As freak weather events become more common, many insurance companies are changing their standard policies. Here are three types of coverage you may need to add to your home and business insurance.
#1 Sewer backup. If the city sewer infrastructure becomes overloaded during a rainstorm, raw sewage can back up into your pipes and overflow into your basement. If you don’t have sewer backup coverage, you won’t be covered for any losses associated with this kind of event.
#2 Biohazard cleanup. Raw sewage needs to be cleaned up by trained professionals. If you don’t have biohazard cleanup coverage on your home or business insurance policy, you may be paying for this service yourself.
#3 Overland water. This coverage protects you from damage to the building and contents that results from a major rainstorm where the ground is unable to absorb the water. As a result, water pools or puddles near your home or on a flat roof and flows into your home or business, damaging your property.
Does your home or business insurance cover you for a rainy day? Talk to BSMW to find out, for free.
Is your home covered for water-related damage? Find out for free.
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Dance Studio Insurance
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Martial Arts Studio Insurance
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