Water damage is among the most common insurance claims for landlords, tenants, and condo owners. Water damage is the leading claim in Quebec and the second most regular in Ontario, with average claims ranging from $9,000 to $12,000. Provided how frequent these events are, above-ground water damage protection is an essential deliberation if you are seeking to cover yourself from costly repairs and replacement expenses.
This article may help you decide whether to obtain this type of protection. It contains answers to the most frequently asked questions, including what it means, what it protects, and the difference between it and other kinds of water protection.
Table of Contents
What Above-Ground Water Coverage Means
Above-ground water protection is a type of home, condo, and renter insurance that covers sudden and accidental harm caused by water entering your house from sources above ground. If this event harms your property or private possessions, this protection can offer a financial reward, covering repairs or replacement expenses.
Below are some frequent events in Canada where climate and weather situations can result in above-ground water harm.
- Water dripping through windows, walls, or doors during heavy storms.
- Overflowing eavestroughs or downspouts at the time of severe rainfall.
- Wind-driven rain coerces water into cracks or spaces around windows and doors.
- Water is pooling on flat roofs and leaks inside.
- Water coming in through an open window during a storm.
Keep in mind that, contrary to standard protections for dangers like fire and theft, you will discover that several insurance firms categorize above-ground water protection as an alternative. This implies that you must include it in your policy before any harm occurs to qualify for financial payment.
Above-Ground Water Protection Versus Overland Water Protection
Insurers do not just classify harm as water damage; they categorize it according to a specific measure. Because of this, there are many alternatives for water damage protection, such as above-ground and overland protection.
If you enjoy this article, don't miss out on the valuable insights and information available in our other related posts:
Although they sound alike, these protections deal with different kinds of threats. Below is a view of the fundamental disparity between above-ground and overland water protection to assist you in specifying which alternative or combination of other options is ideal for you.
Above-Ground Water Protection
- Deals with threats related to water coming from above the ground level
- Protects accidents where water drips through roofs, windows, doors, gutters, downspouts, skylights, and roof vents.
Overland Water Protection
- Deals with threats related to freshwater coming from the ground level.
- It protects against accidents where water enters through the ground-level axis, such as basement windows, doors, foundation cracks, and other regions.
These two kinds of protection are alike in that they provide financial payment for the repair or replacement expenses of harmed property or possessions. Furthermore, they are both regarded as alternatives, implying that you must include them in your policy to benefit from their coverage.
Should You Obtain Above-Ground Water Protection?
Since above-ground water protection is not lawfully compulsory in Canada, the determination to attach it to your policy is wholly your decision. While it can be alluring to disregard it immediately because it costs additional, try not to dismiss it until you have contemplated the prospective threats and expenses of this kind of water harm.
Therefore, whether you decide to invest in additional protection for peace of mind or determine that you are not in the position to handle the financial threat, carefully check and balance your choices and evaluate your condition to carry out an informed judgment about whether or not you should obtain this kind of protection.
