Read your insurance policy or have someone do it for you.
Now if you are on a higher floor in a condo building, you are probably not thinking about flooding. At least not in your own unit. Although the flooding in the lobby or lower floors of your condo building can cause a different set of headaches.
According to a Canadian Press report, Insurance Bureau of Canada wants people affected by floods to watch out for the following.
- Sewage backup caused by flooding is usually covered.
- Water pouring through doors and windows is not covered.
- Owners who have comprehensive insurance are covered if their car is flooded.
Established in 1964, Insurance Bureau of Canada (1-800-377-6378) is the national industry association representing Canada’s private home, car and business insurers. It’s role is to be active on behalf of its members.
The government body regulating the insurance industry in Ontario is the Financial Services Commission of Ontario http://www.fsco.gov.on.ca/en/insurance/Pages/default.aspx
Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
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