Flood Insurance & Disaster Assistance
Understanding the differences in order to better serve your flood-related needs
What is flood insurance?
Flooding accounts for 6 of the top 9 most expensive natural disasters in Canada over the past 25 years, and insurers and taxpayers have spent over $12 billion in the last 10 years to recover from flood events.
All insured businesses in Canada are protected against flood. While many homes have sewer backup insurance, insurance for overland flood has only been available to Canadians since 2015. It is intended to protect against water that enters your home from overflowing lakes and rivers. A number of insurers offer this product nationally and most provinces will not provide disaster assistance if you have a flood and could have purchased overland flood insurance, but did not.
More information from the Insurance Bureau of Canada: A GUIDE TO Residential Water Damage and Flood Insurance
Flood coverage and insurers
Businesses across the country are offering services and support with regards to flood insurance and coverage and emergency preparedness information. The businesses listed below can assist homeowners, community members, and other businesses with their flood readiness information and coverage.