This time of year, I’m frequently asked a common question; “Ken, do I have flood insurance?”.  The simple answer is “no”.

In the insurance world, “flood” means over-land flooding.  Since we live in a flood plain here in Manitoba, over-land flooding has always been excluded.  Beware of anyone who claims to offer flood coverage in this province.

However, sewer back up coverage is available to most homeowners on their renewal, as long as they haven’t made any claims for it in the past.  Sewer back up is defined as any liquid coming up through the drain in the basement floor, and it can cause a tremendous amount of damage.  Installing a main backwater valve and a sump pump and pit goes a long way to help prevent this ordeal, and it also qualifies your policy for even higher coverages.

Flood insurance?  Not in Manitoba.  Sewer back up coverage?  Let’s talk.

If all my belongings were destroyed in a fire, how would the insurance company know what I owned so that it could be replaced?

Insurance companies are not psychic. They don’t know what you own but YOU should for your own protection.

It’s a homeowner’s worst nightmare. You’re out doing normal stuff – shopping, visiting, whatever, when you get a frantic call on your cell phone – your house is on fire. And it’s bad. By the time you come to a screeching halt beside the fire engines outside your beloved home, it’s obvious, even in your state of horror, that your home is gone. A total loss.

Many insureds are surprised when they see the reconstruction costs proposed by the insurers’ guides to rebuild their home after a total loss. The value proposed by the new guides often exceeds the amount an insured has paid for the home he bought directly from the contractor. How is this possible?

It is almost springtime and people are on the move again and insurance quotes for customers buying new homes and condos are heating up again. Another sure sign that spring is not far off in our business.