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How you can reduce the impact of a flood

Did you know that flooding is the costliest large scale weather catastrophe across Canada every year? When you consider that in 2020 severe weather caused $2.4 Billion in damage in Canada, and another $1.4 Billion in 2019, it’s worth it to consider how we can mitigate the potential damage.

And while the number of flooding incidents has been on the rise, and so too the damage to property, homes and people’s livelihoods, there’s a lot of people who are unprepared to deal with a flood emergency and have no idea how to ensure their property is protected as best as it can be.

Recent surveys reveal that 37% of Canadians do not know how to protect their homes from flooding. Even basic understanding of flood-prone areas is poor. Interestingly enough, 85% of Canadians do not believe they live in a flood-prone area (including the ones who actually do) or are simply unsure what their actual risk of flooding is.

On the other hand, at least the vast majority of Canadian (83%) understand that having an emergency preparedness plan or kit is case of flooding is important. But only 37% actually have a plan or kit; and only 41% of people living within 1 km of a major body of water.

Reducing the potential impact of flood damage is fortunately a relatively simple matter. Inspecting eaves troughs, downspouts, exterior drains and basement window wells every spring and fall to ensure they’re not blocked with leaves or debris is an easy first step. Potentially more daunting is making sure your property – whether a home or business – is graded so water runs away from the building Rain barrels, trees and landscaping that absorbs water can help too.

But what truly matters is people educate themselves on flood risks, not just for the property they own, but for their community in general, so they’re prepared to deal with a flood event.

Insurance is another important factor in the fight against flooding. Nearly one-third of Canadians don’t know what water coverage they have or need for their home or business. This means that, with water damage on the rise, many people have been finding out – too late – that flooding is not covered by many standard insurance policies, but needs to be added.

Most insurance policies just cover certain types of water damage, like burst pipes or appliance malfunctions. Other common water issues, like sewer back-up and exterior flood are optional and need to be purchased separately.

Having flood insurance and a strong flood risk plan is important, and 22% of Canadians are more concerned about flooding now than they were 12 months ago.

If you are unsure whether your property is adequately protected, the Brokers and CSRs at DPM Insurance Group are more than happy to review your current homeowners’ or commercial policy and ensure you have the kind of protection you need for your area. Click here to contact the office closest to you: https://dpmins.com/locations/


Source: Bethan Moorcraft for Insurance Business Canada


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