What Canadian homeowners need to know about flood insurance

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Flooding has surpassed forest fires as the top cause of property damage in Canada in the past several years, costing property owners more than $1 billion in losses each year, according to government figures.

Despite the threat, a recent study has revealed that an overwhelming majority of Canadians living in high-risk regions are not only unprepared to deal with the impact of floods, but they are also unaware of the potential danger.

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Original Article Source Credits: Insurance business canada, https://www.insurancebusinessmag.com

Article Written By: Mark Rosanes

Original Article Posted on: 21 Dec 2021

Link to Original Article: https://www.insurancebusinessmag.com/ca/news/flood/what-canadian-homeowners-need-to-know-about-flood-insurance-320638.aspx