August 2, 2007 by Canadian Underwriter
The Insurance Bureau of Canada (IBC) is urging residents of Newfoundland and Labrador to contact their insurance representatives after being battered by tropical storm Chantal.
The storm blasted the eastern third of the province with high winds and approximately 150 millimetres of rain earlier this week, washing out roads and causing extensive damage.
James Geuzebroek, IBC spokesperson, says that an estimate of insured losses is not yet available, but that the bureau will be tracking it over the coming weeks.
While overland flooding wont be covered we expect to see many wind and auto claims, he told Canadian Underwriter.
The IBC has issued a statement reminding consumers that some damage from flooding may be the result of a sewer back-up, which Don Forgeron, vice president Atlantic IBC, noted that coverage for this type of damage is available as an add-on to a homeowners policy.
Also, damage to vehicles resulting from flooding is generally covered by the comprehensive portion of an auto insurance policy, Forgeron added.
He suggested that homeowners minimize losses and the amount of damage caused by floods by, if possible, moving all valuable items located in their basements to higher ground.