Homeowner's Insurance - Water Intrusion

[HOOT]

Originally Posted by FlamesKickAss

Because that takes up the time of the company dealing with claims from last night...

Read your policy under exclusions it will tell you all you need to know.

Don't ever be afraid to call your insurance company and ask questions, regardless of others making claims or not. You pay for your insurance company to be there to answer questions and protect you, you shouldn't be left to interpret your insurance policy on your own.

The 10 minutes you might take up on the phone isn't going to be the difference in someone saving their home from a flood or not if they are already calling in making the claim.

Plus how much is the damage? What is your deductible, how much will your rate increase? If it is nothing major is it worth a claim?

These are all good questions to ask yourself and your insurance company. They will help you figure it out, again that's what they are there for.

Maybe things are different in Alberta than BC but here we welcome people to call and ask questions anytime, making sure the insured is making the right decision on filing a claim or not.

[FlamesKickAss]

Call your broker then

[Milt Schmidt]

Originally Posted by Ducay

Jewish lightning.

Not cool Adolf.

Milt

[chemgear]

Yikes

http://www.calgaryherald.com/news/fl...292/story.html

Alberta homeowners hoping to make claims for flood damage won't get help for water that poured through doors or basement windows, the Insurance Bureau of Canada said Friday.

"You're not covered," spokesman Steve Kee said. "There's no overland flooding coverage in Canada."

The insurance bureau also said vehicle owners who have their cars flooded will be covered for damage if they have comprehensive automobile insurance.

Alberta Municipal Affairs Minister Doug Griffiths noted there will be uninsurable losses and warned that property owners aren't intended to profit from the flooding.

"The fact that a person didn't bother to buy insurance doesn't mean the government will pay for it," Griffiths said at a news conference in Calgary.

Property will be restored "back to what it was as best we can," he said.

[chemgear]

http://www.cbc.ca/news/canada/calgar...e-alberta.html

Alberta homeowners who hope to make claims with insurers for flood damage will be out of luck in most cases.

Alberta faced a similar situation in 2005 and Calgary residents and business owners received more than $14 million in compensation.
Property owners can call 1-800-377-6378 to reach the Insurance Bureau of Canada with questions. The bureau is a national industry association representing Canada's private home, care and business insurers.

[chemgear]

http://www.calgarysun.com/2013/06/21...n-underwriters

Insurance premiums will spike widely due to the damage from massive flooding in southern Alberta, said a spokesman for the country’s underwriters.

All Canadians will share in the pain after the impact of the worst flooding in decades is tabulated, said Steve Kee, spokesman for the Insurance Bureau of Canada.

“Insurance does spread risk out among policy owners, you’ll see increasing claims and it’s going to affect all policy holders,” Kee said Friday.

Costliest natural disasters in Canadian history
1998: Quebec-Ontario-New Brunswick ice storm: $5.4 billion
1997: Mantiboa-North Dakota flood: $3.5 billion
2011: Slave Lake fire: $700 million
2012: Calgary hail, wind storms: $552 million
2010: Calgary hai storm: $400 million
2005: Alberta floods: $400 million
1991: Calgary hail storm: $342 million
1996: Calgary hail storm: $300 million
2011: Calgary wind storm: $225 million

[Stay Golden]

Not sure if this helps anyone.
My wife is currently within management in the Insurance Industry, including having been a broker, under writer and adjuster for 20 years.
I asked her what can victims expect to hear with this disaster.

Being that this will be considered a natural disaster the Provincial and Federal government have reserve funds in place dedicated to deal with these massive losses and claims.
This will be a long process.

She mentioned 2 companies that cover flood but 1, they only cover policies worth a min of $500k and 2, the flood coverage is very specific as to how the dwelling was flooded.
She did say that vehicles that have FULL comprehensive should be covered at their used replacement value by the various Insurance companies.
Wish the news was more positive.

[schteve_d]

So you're not covered and you can expect your premiums to go up is how I read the last few posts? Sounds like insurance!

[ranchlandsselling]

Yeah no kidding - how do premiums go up if no one is covered and no payouts?

[puckluck2]

The government will step in and pay for most of the damage not covered by insurance, not to worry.

[undercoverbrother]

Originally Posted by puckluck2

The government will step in and pay for most of the damage not covered by insurance, not to worry.

I started a thread on this, but will post it here.


http://www.aema.alberta.ca/disaster_manual_home.swf


Very good reading for those that are affected. The gov't assistance is not the same as insurance coverage. The term that is used is "help return essential property to it's basic function".

[HOOT]

Originally Posted by ranchlandsselling

Yeah no kidding - how do premiums go up if no one is covered and no payouts?

It's not that no one is covered, it's homeowner policies that won't be covered. So companies will still have losses to pay out for auto, commercial, farm, etc.

Originally Posted by puckluck2

The government will step in and pay for most of the damage not covered by insurance, not to worry.

I'd worry a little. Speaking from BC experience there was a flood upisland where homes were destroyed, not covered by insurance, and the government gave out a max of $47,000 or so for losses. Not exactly enough to replace a home. My understanding is it can be a long process too.

[dissentowner]

Originally Posted by Milt Schmidt

Not cool Adolf.

Milt

Some people on here need to lighten the hell up. The way some of you act when people joke around leads me to believe you are too damn sensitive for the internet and probably the real world as well.

[Milt Schmidt]

Originally Posted by dissentowner

Some people on here need to lighten the hell up. The way some of you act when people joke around leads me to believe you are too damn sensitive for the internet and probably the real world as well.

Racial slurs are not jokes.

Milt

[puckluck2]

Originally Posted by Milt Schmidt

Racial slurs are not jokes.

Milt

Ducay is jewish I believe so I think he has that right.

[Milt Schmidt]

Originally Posted by puckluck2

Ducay is jewish I believe so I think he has that right.

If she/he is Jewish, it sure isn't clear from the post. It reads like a racial slur right now.

Milt

[Ducay]

If being Jewish lets me make Jewish Lightning jokes, then sure, call me Ishmael. Anyone got a good doc to get the snip-snip done?

Its been a while since anyone's called me Adolf though. Appreciate the comment, amazed you were able to make that one up, you racist. Making a derogatory comment towards Germans, the ultimate and purist race.

[Milt Schmidt]

Originally Posted by Ducay

If being Jewish lets me make Jewish Lightning jokes, then sure, call me Ishmael. Anyone got a good doc to get the snip-snip done?

Its been a while since anyone's called me Adolf though. Appreciate the comment, amazed you were able to make that one up, you racist. Making a derogatory comment towards Germans, the ultimate and purist race.

You meant Isaac, not Ismael.
You'd need to go to a mohel, not a doctor.
I insulted a specific German, not a whole people.
You meant purest, not purist.
If you're going to try to be the clever racist, you're going to need to work on the clever part.

Milt

[dissentowner]

Originally Posted by Milt Schmidt

You meant Isaac, not Ismael.
You'd need to go to a mohel, not a doctor.
I insulted a specific German, not a whole people.
You meant purest, not purist.
If you're going to try to be the clever racist, you're going to need to work on the clever part.

Milt

Oh for god sake, go make a racist thread then. So he made a remark that insunates Jewish people are cheap, so what. He is not saying Jews should be killed or exterminated, or he hates them, the joke is because the Jews have a reputation as being penny pinching and usually they are...so what. In a way it is a compliment, he just referred to the race as thrifty. You can play the card you are playing if you like but I would bet anything that you have laughed at a joke or two with racial reference in your time, we all do.

[Milt Schmidt]

Originally Posted by dissentowner

Oh for god sake, go make a racist thread then. So he made a remark that insunates Jewish people are cheap, so what. He is not saying Jews should be killed or exterminated, or he hates them, the joke is because the Jews have a reputation as being penny pinching and usually they are...so what. In a way it is a compliment, he just referred to the race as thrifty. You can play the card you are playing if you like but I would bet anything that you have laughed at a joke or two with racial reference in your time, we all do.

I'm not going to apologize for thinking racist jokes are not funny. What is pretty funny is trying to defend racist jokes with more racism.

You're getting pretty upset, you should lighten up, maybe you're too sensitive for the internet or even real life.

Milt