Mortgage News
Water damage - Are you covered?
Water damage isn't always covered by your home insurance policy - It's a good idea to find out what you are covered for and formulate a back up plan, just in case.
Published
In the wake of severe rain in various parts of Canada, including flooding in Calgary and Toronto, many Canadians may be wondering what they are covered for in the event of a flood.
Water damage is the leading cause of property damage in Canada, yet many home insurance policies don't cover various types.
Some examples of what may not be covered:
- Sewer back ups
- Water seepage
- Water damage in your absence