As Floods Loom, B.C. Policyholders Should Protect Homes: IBC

The heavy rains pelting part of British Columbia should be a reminder to policyholders to protect their homes from flooding, says the Insurance Bureau of Canada (IBC).

As rising waters in the Fraser Valley create flood conditions, “it's important for homeowners to make sure that floods won't put their property in danger," said Lindsay Olson, Vice-President, British Columbia, Saskatchewan and Manitoba, IBC.

Though government officials are monitoring water levels, the bureau urges homeowners to take preventive action—such as moving valuables out of basements and lower floors-- since overland flooding or seeping isn’t covered by homeowner’s insurance. Some damage might be covered by sewer-backup, which is usually an add-on to a homeowner policy, Olson noted in a November 17 statement, explaining that “overland flooding is a risk for only a small percentage of the population - that is, those who live in a flood plain. Since most homeowners are not exposed to the risk, and should not share in the cost, providing flood insurance would be unaffordable for the homeowners who might need it."

The IBC is urging homeowners to review their policies and verify coverage for both their homes and vehicles. The bureau’s consumer information line is 1-877-772-3777.