List Headline Image
Updated by Gordon McCallum on Jan 21, 2015
 REPORT
6 items   3 followers   2 votes   504 views

What You Need To Know About Flood Insurance in Alberta

Here is a list of important articles to read regarding the recent flooding in Calgary Alberta, as well as how you're impacted from an insurance standpoint.
RBC, AMA rejecting Alberta flood claims others accept

Some homeowners in flood-ravaged Alberta are banding together in an attempt to name and shame insurance companies that have rejected their claims for sewer backup damage following recent floods. Residents of the Elbow Park neighbourhood in Calgary say some insurance companies are approving claims while others are not - despite similar policy wording.

Beware of flood-damaged vehicles from Alberta: Economical Insurance

Consumers looking to buy a used automobile are advised to be aware that vehicles deemed a total loss from the flooding in Alberta will find their way to market for unsuspecting buyers elsewhere, Economical Insurance reports. "History has shown that unscrupulous people buy flood-damaged cars, clean them up and sell them at attractive, below-market prices," notes a statement from the property and casualty insurer.

Alberta flood victims mostly out of luck with insurance

Not all flooding covered under insurance policies Posted: Jun 21, 2013 4:41 PM ET Alberta homeowners who hope to make claims with insurers for flood damage will be out of luck in most cases. That's because not all flooding is covered under most insurance policies.

Insurance rejections spark anger

Some homeowners are banding together in an attempt to name and shame insurance companies that have rejected their claims for sewer backup damage following recent floods. Residents of the Elbow Park neighbourhood in Calgary say some insurance companies are approving claims while others aren't - despite similar policy wording.

With few flood-insurance options, Alberta promises quicker assistance

Metro / Robson Fletcher Municipal Affairs Minister Doug Griffiths addresses the media Monday. Albertans who suffered massive losses due to flooding are unlikely to get much from insurers but the provincial government pledged Monday to simplify and accelerate the process for receiving financial assistance.

Overland Flood Insurance Not Possible Without New Floodplain Maps | First Foundation
Right now, no Canadian insurance company offers flood insurance, or more specifically coverage for anything caused by a flood that could be classified as a natural catastrophe, or overland flood insurance. As First Foundation provides home insurance to Alberta residents, after the devastating floods that hit Calgary and surrounding areas in the summer of 2013, we have seen interest from people looking to be protected from future flooding.