Water damage overtakes fire as a leading home insurance claim in Canada
Fire and water in Canada have experienced a bit of a role reversal in Canada, as an insurance agent tells the Vancouver Sun that flooding, not fire damage, is responsible for more homeowners insurance claims.
"That's a complete switch," said Patricia Stirling director of underwriting at one agency. "If you were to look at the same numbers 10 years ago, you would find that fire was the higher percentage."
With this in mind, insurance agents want people to know what they can do to avoid having to an insurance claim.
For instance, Stirling tells the paper that the leading cause of water damage occurs due to leaky plumbing. She says homeowners need to be aware of leaks in faucets and pipes and have them fixed promptly.
Though a leaking faucet may be the source of the damage, the paper says that sometimes the real problem goes deeper. Thus, the Vancouver Sun recommends checking the condition of the home's water tank, as they usually need to be replaced after seven to 10 years of operation.
The Insurance Bureau of Canada says flooding damage can also be limited by keeping floor drains clear of obstructions and by installing a sump pump.