Rising Temperatures Increase Flood Risks
With temperatures rising across southern Ontario, melting snow and ice can pose a risk of basement flooding for homeowners. Preventative measures are crucial to avoid costly damage.
Inspect Your Home’s Exterior
Check window seals and foundation cracks to prevent water seepage. Move melting snow away from your home’s foundation and monitor backyard drainage to ensure water flows away from the property. Gutters should also be inspected for blockages.
Upgrade for Better Protection
Installing a sump pump or backwater flow valve can help prevent basement flooding. Homeowners planning renovations may also consider adding a weeping tile system to improve water drainage.
Review Your Insurance Coverage
Standard homeowners’ insurance does not typically cover flooding. Additional coverage for sewage backups or overland flooding may be available through a broker. Slow leaks, however, are not covered, making proactive maintenance essential.
Stay on Top of Maintenance
Minor leaks can lead to significant damage if left unattended. Regularly recaulk windows, monitor pipes for leaks, and address any signs of mould or decay before they become major issues.
Consult an Insurance Broker
A broker can help homeowners customize their coverage to match their needs. If finishing a basement costs $30,000 but insurance only covers $20,000, an upgrade may be necessary. Online tools can provide quick quotes, but a direct consultation ensures tailored coverage.
Record-High Insurance Claims in Canada
Severe weather pushed insurance claims in Canada to a record $8.55 billion in 2024. Aging sewer infrastructure adds to the flood risk, making preventive measures even more important. Some insurers offer discounts for sump pumps or backwater valves, and homeowners can shop around before policy renewals to find the best rates.
Reference: https://www.toronto.com
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