Jan. 22, 2018, Montreal – The Insurance Bureau of Canada has developed a new interactive online tool to help consumers improve their knowledge of insurance coverage for water damage.
Accessible to all on the Insurance Bureau of Canada (IBC) website, this online animation tool features a home beset by all kinds of water damage. People can test their knowledge of insurance coverage, compare their results and share them on social media.
Whether caused by climate change, outdated infrastructure, poor building maintenance or domestic accidents, water damage has been a real scourge over the past 10 years or so, the IBC said in a news release. As an example, water damage accounts for half of the total cost of claims paid out by insurers in Quebec each year, and the trend is rising.
“Consumers can use this new tool to better understand what is and isn’t covered, and they can find out what coverage is available on the market. We hope that in doing so they’ll be encouraged to take steps to better protect their homes and avoid the inconveniences caused by water damage,” said Line Crevier, supervisor of technical affairs and the Insurance Information Centre at IBC.
While some damage may be inevitable, IBC reminds consumers they can help reduce claims, thanks to a few prevention measures. For example, making sure to change their water heater every 10 years; checking and replacing washing machine and dishwasher hoses; not leaving the house while the washing machine and dishwasher are on; asking a friend or neighbour to check that everything is OK if they’re away from home for more than seven days (especially in winter); leaving the heat on in the winter; and removing snow and ice from windows and eaves troughs.
When it comes to vehicles, the release said, water damage is covered under an auto insurance policy, provided policyholders chose “Coverage against perils other than collision or upset” or “All Perils” coverage.
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