In a press release yesterday (February 19, 2015) Aviva Canada has announced that they will be the first insurance company in Canada to offer Overland Water Protection for residential property owners and tenants across Alberta.
Wait! Doesn't My Current Insurance Protect Me From Flooding?
No. Until now, the only protection insurance customers have had from water flooding their home was under their Sewer Backup Endorsements. This covers them for damage caused when sewers backup into their homes, but not in a case where the water levels rise "overland". This could be as the result of the accumulation or run off of surface waters, including torrential rainfall when water enters the property, which is what caused the disastrous floods in the Calgary and High River areas in 2013.
“Tens of thousands of Canadians have suffered losses from water damage in recent years,” said Sharon Ludlow, President, Aviva Insurance Company of Canada. “We’re proud to be the first insurer to offer overland water protection through our home insurance policies.”
Canadian insurance companies have seen a definitive increase in overland flooding risks over the past 60 years. There has been a 12% increase in average yearly rainfall and we're seeing 20 more days of rain each year than we did in 1950. Our country is getting wetter and we're likely to see more issues with flooding in the future.
Because of these greater risks, we expect to see other insurance companies follow Aviva's lead and develop their own overland flood insurance packages. But until then, Aviva is the only company in Canada that offers this kind of protection. “We are excited about bringing this solution to market. Our goal is to make this coverage accessible and affordable for the vast majority of our customers.” Said Ludlow. For more information you can refer to Aviva's official press release here.
Here's How to Get It
In May of 2015 Aviva personal property insurance customers (with sewer back-up protection in place) will be able to add this endorsement to their policy.
- If you already have an Aviva personal property insurance policy, phone your broker and state that you would like to add the "Overland Water Protection" endorsement to your property insurance.
- If you don't currently have a property insurance policy and would like this endorsement, give us a call and say that you would like to look at changing your insurance to Aviva to take advantage of the "Overland Water Protection" endorsement.
If you're unsure, just give us a call and one of our licensed brokers will be more than happy to help.
Call Today to Inquire About the Overland Water Protection Endorsement
1-855-475-0959
