Even though Lethbridge is the 11th driest city in Canada, flooding is still a major concern. Over the past five years, a state of emergency has been declared several times due to flooding.
Spring and summer storms can drop large amounts of rain over short periods, and the drainage systems can become overwhelmed. In the winter, rapid snow melts pose a similar threat. As a result, many residents have had first-hand experience with basement flooding.
As a homeowner, it’s important to understand what your Lethbridge home insurance covers and what it doesn’t. The majority of policies cover water damage coverage (if it’s sudden or accidental) but doesn’t provide coverage for flood damage. Ask your insurer questions you may have about water coverage.
It’s also important to know when your home was built. In Lethbridge, the municipality has changed the residential building code requirements several times in an attempt to mitigate basement flooding. Newer structures (post 1995) should be equipped with sump pumps, which can lower your home insurance premiums.
In the past, flood insurance wasn’t available to many homeowners. Following the devastating Alberta floods in June 2013, the insurance industry answered with a water protection endorsement that’s easy to add to your existing home insurance policy if you qualify for the endorsement.
The 2013 floods price tag totalled over $7 billion in losses. The event was a wakeup call for many without the right home insurance in place. Weather patterns have been changing for some time. So whether it’s wind and rain, excessive snow, snow melting, or rising river levels, flooding is inevitable for many Albertans.
Make sure you’re protected. Please give us a call if you need more information or if you’re looking for home insurance quotes in Lethbridge.