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Frequently Asked Questions

Is my home covered for flood?
No.  'Flood' like water losses can be as a result to three types of damage, overland flood, seepage and sewer backup.
Think weather events like hurricanes or tsunamis, or more locally, the heavy rainstorm in July of last summer.  Your homeowner's policy does not cover this type of water damage.
Seepage is another type of water related peril that is not covered by your homeowner's policy. Properties with poor drainage are often left with water penetrating the foundation. Keep your eavestroughs clear and make sure they're being drained away from your home. The grading of your property plays another important role against protecting your home from water damage caused by the melting of snow and ice.
The last type of water damage as it relates to 'flood' is sewer back up.  Your susceptibility to this type of water damage depends on a number of factors, but especially where you live.  Check your policy! It can include this type of coverage and if it does, be sure that the limit is at a sufficient level to repair your cave!
For more clarity on water damage and how to save your cave, please don't hesitate to contact our cave advisors.
How can homeowners protect themselves?
Talk to your broker and read your policy!  This will help you understand what type of coverages your insurance policy includes and how that policy will respond in the event of a loss.
Taking precaution by installing a tankless water heater, backflow valves and sump pumps as these tools can significantly reduce the impact of water damage.  These loss prevention measures can be taken into account by insurance companies in the form of savings!
Don't let the appeal of cheap insurance lure you in.  Its that cheap for a reason!  That reason is usually because coverage for perils such as sewer backup, are reduced to inadequate / insignificant / inexistent limits that will not help in the event of a loss.

Click here for a Water Damage Prevention Checklist

What is an Insurance Broker?

Insurance Brokers are independent business people who buy insurance on behalf of their clients. We are the insurance consumers' advocates, championing the need to offer a choice of insurance products and services that are affordable, available, and understandable.  Our role is to provide consumers with the best insurance value.

How do Insurance Brokers decide what insurance contracts or policies to recommend to their clients?

There are hundreds of companies offering Property & Casualty insurance in Canada. Brokers identify companies in which they have confidence and whom they are able to develop a working relationship.

Their primary goal is to consider product, service and price in order to make the best possible recommendation to their clients so that their clients can make informed decisions about their insurance protection. The recommendation brokers make is based solely on the attributes of the insurance product or service and the needs of their clients.

How can consumers find out how their brokers are compensated?

Ask us! It's that simple. Member insurance brokers have nothing to hide and we transparently declare how we are compensated. Usually on a commission basis with the potential of contingent commission. Moreover, we want our clients to be well informed about normal practices involving compensation.