Winter Thaw: Assessing Your Insurance Coverage
As winter transitions to spring, the potential for water damage increases due to melting snow and ice. Homeowners and vehicle owners should review their existing insurance policies to understand the extent of their protection against water-related risks. Understanding the specifics of your coverage can help you prepare and mitigate potential losses.
According to the Insurance Bureau of Canada (IBC), standard homeowners’ insurance policies typically cover sudden and accidental water damage caused by ice dams. However, damage resulting from ongoing, repeated issues may be classified as a maintenance problem and might not be covered. It’s critical to understand the distinction between these types of damage.
Sewer Backup and Overland Flooding
Water damage from sewer backups generally isn’t included in basic insurance policies, unless optional sewer backup coverage has been added. Also, overland flood damage, which can be caused by heavy rainfall or melting snow, is only covered if specific overland flood protection is part of the policy. It is essential to have the right coverage to safeguard against these risks, especially if you live in a high-risk flood zone, where coverage could be limited or unavailable.
Plumbing and Frozen Pipes
Homeowners’ policies usually cover water damage from plumbing, heating, or air conditioning system leaks. This extends to damage from frozen and thawing pipes in heated areas of a home. However, if a homeowner is away during the winter, insurance providers may require regular property checks and maintenance to help prevent damage. Insureds must confirm these conditions with their insurance representatives to ensure that they are complying with all policy requirements.
Auto Insurance
For vehicle owners, flood damage is generally covered under comprehensive or all-perils auto insurance. Keep in mind that this coverage is optional, so checking your policy to see if you have flood coverage is essential. Make sure you are protected against these risks, especially during periods of heavy rain and flooding caused by the winter thaw.
Preparation Tips
Preparation is key to mitigating risks associated with the winter thaw, according to the IBC. Several steps can help, including:
- Keeping basement drains clear
- Clearing snow and ice from walkways and driveways
- Removing leaves, debris, and ice from street storm drains
- Inspecting your foundation for cracks
By following these steps, you can minimize your risk of water damage. For specific policy details or more information about added coverage and the best way to get ready for this season’s risks, homeowners and drivers should contact their insurance representatives directly.
