IBC warns against high flood risk in Manitoba and Saskatchewan

Manitoba and Saskatchewan are facing a high probability of a spring flood, cautions the Insurance Bureau of Canada (IBC).
Since overland flooding is generally not covered by home insurance, homeowners are urged to take preventive action now, an IBC release says.
“The objective of insurance is to assess risk and then spread it accordingly among many policyholders,” says Lindsay Olson, IBC’s vice president of British Columbia, Saskatchewan and Manitoba, explaining why overland flood coverage is not available in Canada. “And since overland flooding is a risk for only a small percentage of homeowners, flood insurance would simply be unaffordable for this small group of people.”
But not all water damage is a result of overland flooding or water seepage, she adds. “Some is a result of sewer backup, and because sewer backups are a reality and concern for many homeowners, installing sump pumps and sewer backflow valves is a smart, proactive way to reduce the risk of water damage in the basement.”
Coverage for this type of damage might be available, but must be purchased as an add-on to a homeowner’s policy.