May 3, 2018 by Staff
Almost half (45%) of Canadian homeowners with a ground-level home think they have flood insurance as part of their regular home insurance policy, and 26% don’t know if they have it or not, finds a poll conducted by IBC. At the same time, only 37% admit feeling confident in their level of knowledge about what is covered and what is not in their home insurance policies.
“The fact is that most Canadians are not financially protected against flooding, and they may not realize it,” says Craig Stewart, vice-president, Federal Affairs, IBC. “Climate change is not a future threat – it’s happening now. Over the past three decades we have seen an increase in insured damages, and it is up to all of us – the insurance industry, governments and citizens – to do our part in responding to the effects of climate change.”
As a result, IBC today kicked-off a new consumer flood education campaign that will take place this spring and summer in communities in British Columbia, Alberta and Ontario.
IBC Flood Factor interactive booths aim to raise awareness of flood risks and educate homeowners on how they can protect their property from flood damage and prepare themselves for emergencies. At the booths, consumers will see interactive maps that provide a view of residential flood risk, as well as learn how to mitigate that risk. People can also visit http://www.floodfactor.ca/ to test out their knowledge of floods for a chance to win instant prizes.
“Adapting to the impacts of climate change takes a whole-of-society approach,” says Stewart. “It is imperative that we raise Canadians’ awareness of the escalating climate-change risks that we all face. Floods in Canada will continue to happen, and only together can we build a resilient country.”
Here are some additional findings from IBC’s poll.
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This story was originally published by Canadian Insurance Top Broker.