With the recent warmer than average temperatures, melting snow causing for sloppy streets and sidewalks, and the threats of flooding looming over us, Team is excited to announce that Portage Mutual Insurance has updated their Water Damage Extension coverage and will be offering Overland Water coverage effective March 1, 2017.  Clients who are currently insured with Portage Mutual will have the option of adding this coverage to their policy between March 1st and April 30th, 2017 subject to approval.

According to the Insurance Bureau of Canada “From 2009 to 2014, insured losses from catastrophic events were close to or above $1 billion each year – most of this was due to water damage”.

Effective March 1, 2017, Portage Mutual’s new Water Damage Extension offers the following coverages:

• Sewer Backup Limited Form which covers loss or damage caused by the sudden and accidental backing up or escape of water or sewage within your dwelling or detached structures through a sewer or septic system on your premises, or a sump or drain located within your dwelling or additional building.  This coverage now includes $1,000 toward the installation of preventative equipment after a sewer/water backup loss.   

• Overland Water Endorsement which provides coverage for water that accumulates upon or submerges land which is usually dry resulting from the unusual and rapid accumulation or run off of surface waters from any source including torrential rainfall, or the rising or, breaking out or the overflow of any body of fresh water and for sewer backup concurrent with these losses, subject to exclusions. 

It is important to note that the availability of Overland Water coverage may affect eligibility for compensation from the Emergency Measures Organization through the Province of Manitoba.

Our Team has proactively requested that this coverage be added onto eligible policies on their next renewal.  We will also be notifying all affected clients, and offering the option of enhancing their coverage during the available period.  As always, all of our clients will have the opportunity to remove this coverage from their policy should they choose to.  If you are a Portage Mutual client and are interested in adding Sewer Backup Coverage or Overland Water Coverage, or increasing the limits of your current Sewer Back-up coverage, please contact a member of Our Team to discuss your eligibility. 

As mentioned above, Portage Mutual clients can only increase these coverages mid-term between March 1st and April 30th, 2017.  Otherwise increased limits are only available at policy renewal time.  Insurance Companies reserve the right to decline, or limit the addition of coverages at any time.  Insurance companies have occasionally placed a moratorium, or temporary prohibition, on adding or increasing water related coverages when the threat of flood is imminent.  We recommend that any clients who are concerned about their current water damage coverages contact Our Team to review the options available to them.

Our Team is looking out for the best protection for our clients.  Not all insurance policies are created equal, and not all clients are interested in all coverages.  That is why it is important to have an insurance broker on your side, who will listen to your specific needs and coverage concerns, tailor a policy best suited to your needs, and explain the coverage and exclusions of your policy.  All insurance policies have exclusions, and it is important to understand your policy wordings, and the specific details of exclusions and limitations of coverage.