EDMONTON, AB, Aug. 6, 2024
/CNW/ - In the aftermath of yesterday's destructive hailstorm that
impacted Calgary and other parts
of Alberta, Insurance Bureau of
Canada (IBC) is providing
insurance information to assist affected residents and business
owners.
"Rest assured, insurers are here to help and 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," said Aaron
Sutherland, Vice-President, Pacific and Western, IBC. "The
priority right now is ensuring the safety of everyone who was
affected by this storm. At this point in time, it is still too
early to provide an accurate picture in terms of insured loss
estimates for this severe weather event, but our thoughts are with
all those that have been impacted."
Albertans with general questions about home, business or vehicle
insurance are encouraged to contact IBC's Consumer Information
Centre at 1-844-2ask-IBC (1-844-227-5422)
or askibcwest@ibc.ca. Albertans can also visit IBC's Hail and
Insurance webpage to learn more about insurance coverage for
hail damage and the various stages of the claims process.
Hailstorms and other natural disasters are increasing in
frequency and severity, especially in Alberta. From 2019 to 2023, insured losses
from hail damage have totalled nearly $3
billion. Notably, a hailstorm in the Calgary area on June
13, 2020, resulted in approximately 70,000 insurance claims
and over $1.3 billion in insured
damage. The majority of the insured damage was to homes and
vehicles, with a smaller percentage to commercial property. It was
the costliest hailstorm in Canadian history. With today's extreme
weather events, insured catastrophic losses in Canada now routinely exceed $2 billion annually.
What is typically covered?
- IBC recommends consumers reach out to their insurance
representative as soon as possible to understand their exact
insurance coverage.
- Standard home and business insurance policies cover damage
caused by hail or wind. This includes damage caused by flying
debris or falling branches or trees, or damage to your home and
contents from water entering through openings suddenly caused by
wind or hail. Pre-existing damage is not covered.
- Not all car insurance policies cover hail damage. Confirm with
your insurance representative that you have optional comprehensive
coverage or All Perils coverage, which protects your vehicle from
damage caused by common insurance perils, including fire, high
winds and hail.
- Water damage in a basement due to a sewer backup is only
covered if you have purchased specific, optional sewer backup
coverage.
- Damage to mobile homes or trailers from hail or wind may be
covered.
What should I do if the storm damaged my property?
Once it is safe to do so, consumers should:
- 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 and be as detailed as possible when documenting
damage and providing information.
- Keep all receipts related to cleanup.
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 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 have been damaged
or destroyed, 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.
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