Insurance for flood victims: Evacuees encouraged to begin claim process early
The rains may have stopped but the devastation from flood damage in British Columbia will linger for a long time. It is going to be costly and victims are encouraged to begin the insurance claim process now.
In 2015, the Canadian insurance industry began offering overland flood coverage due to increased flood events in Canada. According to the Insurance Bureau of Canada, about 50 per cent of B.C. property owners have purchased it.
"We do know and we have received reports of overland flood damage, sewer backups, even wind damage," explained Rob de Pruis, director of consumer and industry relations with the Insurance Bureau of Canada. "If you have been evacuated and you do have the overland flood coverage, you also have coverage for your additional living expenses."
Overland flood insurance is also available for businesses and farmers. However, there have been cases where some property owners have been unable to buy flood coverage.
Last year, the provincial government offered financial disaster assistance to victims of winter floods who had were unable to get coverage. CTV News asked Emergency Management B.C. if similar assistance would be available to victims of the recent flooding, but has yet to receive an answer.
What is clear is the cost of climate change is having an impact. According to the IBC, the cost of claims has more than doubled over the past decade compared to the previous 10 years, rising from $600 million to $2 billion.
The Insurance Bureau of Canada says the increased frequency and severity of weather events needs a co-ordinated response.
"We really need to make sure that we're talking about building resilience within our communities and this is something that everyone needs to take a part of, the insurance industry, as well as governments and other stakeholders to help build this resilience to make these communities safer," de Pruis said.
CTVNews.ca Top Stories
CRA no longer requiring 'bare trust' reporting in 2023 tax return
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
NEW More unauthorized products for skin, sexual enhancement, recalled: Here are the recalls of this week
Health Canada and the Canadian Food Inspection Agency recalled various items this week, including torches, beef biltong and unauthorized products related to skin care and sexual enhancement.
Where is the worst place for allergy sufferers in Canada?
The spring allergy season has started early in many parts of Canada, with high levels of pollen in some cities already. Experts weigh in on which areas have it worse so far this season.
Do these exercises for core strength if you can't stomach doing planks
Planks are one of the most effective exercises for strengthening your midsection, as they target all of your major core muscles: the transverse abdominis, rectus abdominis, external obliques and internal obliques. Yet despite the popularity of various 10-minute plank challenges, planking is actually one of the most dreaded core exercises, according to many fitness experts.
Sunshine list: These were the Ontario public sector's highest earners in 2023
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
NEW 'Godzilla x Kong: The New Empire': A crowd pleaser that turns it up to 11
Hot on the heels of last year's 'Godzilla Minus One' comes 'Godzilla x Kong: The New Empire,' the first ever Academy Award winner in the giant reptile's decades-long film career.
Deaths of 4 people on Sask. farm confirmed as murder-suicide
The deaths of four people on a farm near the Saskatchewan village of Neudorf have been confirmed a murder-suicide.
Full parole granted to man convicted in notorious 'McDonald's murders' in Cape Breton
The Parole Board of Canada has granted full parole to one of three men convicted in the brutal murders of three McDonald's restaurant workers in Cape Breton more than 30 years ago.