TORONTO, July 16,
2024 /CNW/ - In the aftermath of the intense flash
flooding across southern Ontario
today, Insurance Bureau of Canada
(IBC) is providing insurance information to affected residents and
has deployed its Virtual Community Assistance Mobile Pavilion
(V-CAMP).
Insurers serve as "second responders" in the recovery period
after catastrophe strikes. IBC's V-CAMP is staffed with trained
insurance industry personnel who are on hand at IBC's Consumer
Information Centre at 1‑844‑2ask-IBC (1-844-227-5422) to help
address consumers' general questions about home, business or
vehicle insurance.
"Flooding and related sewer backup damage is costly for
homeowners, businesses, and municipalities. Our thoughts are with
all Ontarians whose property has been damaged and whose lives have
been disrupted by today's severe flooding," said Amanda Dean, Vice-President, Ontario and Atlantic. "The priority right now
is ensuring the safety of those affected by today's intense flash
flooding. Rest assured that Ontario's insurers are here to help. Anyone
whose property or vehicle was damaged is encouraged to contact
their insurance representative as soon as they are ready to start
the claims process."
IBC has provided important insurance information to help
affected residents understand insurance coverage and the various
stages of the claims process on its webpage, Flooding and
Insurance.
Every policy is different. Know what your insurance
covers.
- Overland flood coverage is optional and typically covers
specific types of water damage, such as damage resulting from the
overflow of lakes, ponds or rivers; surface water from heavy
rainfall or melting snow; and groundwater or the rising of the
water table, causing water to enter a home at the ground level or
by seeping through windows, doors and walls. Homeowners are
encouraged to reach out to their insurance representative with any
questions about their policy.
- Damage to vehicles from wind or water may be covered if you
purchased the optional coverage (comprehensive and/or collision) as
part of your policy. Check with your insurance representative to
see what coverage you have.
- Water damage in a basement due to a sewer backup is only
covered if you have purchased specific optional sewer backup
coverage.
- Subject to any applicable exclusions, the contents of your
refrigerator and freezer may be covered for damage related to food
spoilage caused by an accidental power interruption. In this
situation, your fridge, freezer and their contents may be insured
for a specified amount. Check your policy.
- In certain circumstances, homeowners who are unable to stay in
their homes because of insured damage may be entitled to additional
living expenses. Check with your insurance representative to find
out what your policy covers.
Tips for starting the claims process
When it is safe, take these steps to begin the insurance claims
process:
- Assess and document the damage. Taking photos can be
helpful.
- Call your insurance representative or your insurer's claims
department to report your damage.
- If possible, assemble proofs of purchase, photos, receipts and
warranties. Keep damaged items unless they pose a health
hazard.
- Keep notes. Be as detailed as possible when documenting damage
and providing information.
- Keep all receipts related to cleanup.
- If you've been displaced, keep the receipts for your additional
living expenses. Ask your insurance representative if you are
covered for additional living expenses and for what period of
time.
Next steps
- Once you have reported a loss, you will be assigned a claims
adjuster by your insurance company. Given the number of people
affected by the severe storm, it may take some time, but you will
be contacted.
- The claims adjuster will investigate the circumstances of the
loss, examine the documents you provide and explain the claims
process. Take notes and ask questions during these
conversations.
- Your insurance company might ask you to complete a proof of
loss form to list the property and/or items that were damaged or
destroyed, along with the corresponding value or cost of the damage
or loss. Ask your insurance representative or claims adjuster to
clarify anything you are unsure about.
For commercial insurance policyholders
Business interruption coverage is usually triggered by direct
physical damage to your business or damage to a neighbouring
business that causes your location to be shut down. Consult with
your insurance representative to determine whether your business
interruption coverage will cover the event.
About Insurance Bureau of Canada
Established in 1964, Insurance Bureau of Canada (IBC) is the national industry
association representing Canada's
private home, auto and business insurers. Its member companies make
up the vast majority of Canada's
highly competitive property and casualty (P&C) insurance
market.
As the leading advocate for Canada's private P&C insurers, IBC
collaborates with governments, regulators and stakeholders to
support a competitive environment for the P&C insurance
industry to continue to help protect Canadians from the risks of
today and tomorrow.
IBC believes that Canadians value and deserve a responsive and
resilient private P&C insurance industry that provides
insurance solutions to both individuals and businesses.
For media releases, IN Focus articles, or to book an interview
with an IBC representative, visit ibc.ca. Follow us on LinkedIn, X
and Instagram, and like us on Facebook. If you have a question
about home, auto or business insurance, contact IBC's Consumer
Information Centre at 1-844-2ask-IBC. We're here to help.
SOURCE Insurance Bureau of Canada