Get a Rain Check

April showers bring May flowers, as well as a ton of worries! Here in Northern New Brunswick, we’re no strangers to difficult winters, but what about the difficulties that come along with spring? No, we’re not talking about pot holes.

Important to note: this information is based on the interpretation of insurance company manuals by Kent & White Insurance brokers. Certain underwriting conditions and/or restrictions may apply.

This winter has been particularly tough. The massive amount of snow we received has decided to stick around a little longer than usual, but that hasn’t stopped Mother Nature’s scheduled rain fall. Usually welcomed to speed up the snow melting process, this year, excessive amounts of rain fall are weighing heavy on people’s minds due to higher chances of flooding. Are you sure you’re protected?

Our brokers at Kent & White Insurance dug deep into the manuals of our insurance partners, and here’s what we’ve found. Our partner companies offer something called endorsements. In the instance of overland water, they are add-ons to your home policy (for an additional premium) that can broaden coverages for water damage. Although the names of the endorsements vary from policy to policy, overland water endorsements were designed with springs like ours in mind. When you add this package to your home policy, you’re ensuring that any sudden and accidental escape of water from a sewer, sump, septic system, or other entry points due to spring conditions are covered. Here are the top five main differences to look out for from company to company:

1. Some insurance companies determine eligibility based on specific zones, territories or even distance from a body of water. Make sure to verify that you are meeting the specific eligibility requirements of your insurance company for overland water coverage.
2. Insurance coverage limits and options can vary quite significantly from company to company. Limits can range from $10,000 to full policy limits. Ask you insurance broker to verify that your limit is adequate for your needs.
3. Many insurance companies exclude coverage for flood water from bodies of salt water or from coastal waters. Make sure to consider this if you have an existing home, or if you are building a home, near a shoreline.
4. Some insurance companies will contribute extra funds for you to install a remedial device (such as a backflow valve) in the event of a claim. If you do end up with a water damage claim, check to see if your company contributes with funds for this added benefit
5. Overland water coverage is sometimes included with sewer backup coverage, or it can be a separate coverage on its own depending on the insurance company. Having sewer backup coverage does not necessarily mean you have overland water coverage. This is something that can be verified with a quick call to your insurance broker.

Here at Kent & White, we know that your property is more than just a location on a map; it’s home-sweet-home. Whether you’re a current client of Kent & White Insurance, or a future client wanting to make sure your property is protected, give us a call or come in to speak with one of our dedicated brokers. We’ll make sure everything in your policy is right as rain!