Here is a sample from Optimumwest insurance company.

Sewer Backup

Water (Excluding flood water) entering the home from:

• Sewer or sump system
• Septic tank
• Outside drain
• Eavestroughs or downspouts

Overland Water

• Flood caused by overflow of body of freshwater
• Surface water buildup caused by weather including heavy rainstorm

Ground Water

• Ground water or rising of water table

There is a picture from Wawanesa Insurance Company. It demonstrates the water.

Sewer Backup

Overland Water

Let’s have a look at the Overland Water Wordings.

DEFINITIONS:
Flood” means waves, tides, tidal waves, tsunamis or the rising or, the breaking out or the overflow of any body of salt water, whether natural or man-made.
“Overland Water” means water that accumulates upon or submerges land which is usually dry resulting from:
1. The unusual and rapid accumulation or run off of surface waters from any source, including torrential rainfall.
2. The rising or, breaking out or the overflow of any body of fresh water.
“Sewer backup” means the sudden and accidental backing up or escape of water or sewage within your dwelling or detached private structures through a:

• sewer on your premises;
• septic system on your premises; or
• sump pump located within your dwelling or detached private structures.

“Single Occurrence” means all events for which coverage is provided by this endorsement that occurs within 96 consecutive hours during the term of the policy to which this endorsement is attached. The expiration of the policy will not reduce the 96 hour period.

OVERLAND WATER COVERAGE
You are insured against direct physical loss or physical damage caused by overland water from any single occurrence. This includes direct physical loss of physical damage resulting from the sudden and accidental entrance of water through foundations, basement walls or basement floors caused by overland water from any single occurrence. This also includes damage resulting from the escape of water from a public water main or from a swimming pool.
You are also insured against direct physical loss or physical damage caused by sewer backup resulting from overland water, but only if there is evidence that overland water from any single occurrence has also entered the dwelling or detached private structure where the sewer backup loss occurred and the entry point of the overland water was from other than sewer backup.

There are also some exclusions on this coverage.  Look at the exclusions on your policy.

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The insurance industry and government have a long tradition of working together in a social contract to provide relatively seamless compensation to citizens who suffer devastating losses of property. The insurance industry takes most of the risks (e.g., fire, theft, windstorm). Government mitigates others through public policies such as land-use laws, regulations, and zoning that prohibit people from building in high-hazard areas such as flood plains. For the thin band of situations that fall between insured perils and prohibited activities, the provincial government provides a limited amount of compensation through the Disaster Financial Assistance (DFA) program. When its costs exceed a predetermined threshold per capita of the affected population, the provincial government may request financial assistance from the federal Disaster Financial Assistance Arrangements program. These requests must be made by the province within six months of the end of the event.

BC province has a program, Disaster Financial Assistance (DFA) program. The provincial government may declare the event eligible for DFA, following a disaster. Once declared, the DFA program may compensate individuals for essential uninsurable losses.

What are the essential uninsurable losses?

Look, the essential uninsurable losses. They are essential to your home, livelihood or community service.

It does not pay for:

• Loss or damage for which you could have obtained insurance
• Recreational or seasonal residences
• Luxury goods
• Land that has been lost through erosion
• Landscaping

How much help is available?

In general:

• If your claim is accepted, DFA will compensate you for 80% of the total eligible damage that exceeds $1,000 to a maximum claim of $30,000.
• Your claim can not exceed the cost to replace or repair essential items and property to their immediate pre-disaster condition.

Do you eligible for DFA?

You are eligible for DFA assistance if items essential to your principal residence, business, farm or charitable organization have been damaged in an eligible disaster, and if you are a:

• Homeowner
• Residential tenant
• Small business
• Farm owner
• Charitable organization
• Local government

There are some limitation or restriction on DFA.

Disaster Financial Assistance is not available for wildfire losses.

Eligibility

• Disaster Financial Assistance is only available for provincial disasters after the provincial government has declared them eligible.
• The provincial government works closely with local governments to determine if and when an event should be eligible.
• Private sector damage must be from an event that is uninsurable, such as overland flooding.
• Insurable damages in the private sector from wildfires, earthquakes, snow load, wind storms, sewer or sump pit back-up, water entry from above ground (including roofs, windows or other areas of the building), are NOT eligible for DFA.
• Damages from certain landslides may be eligible if it can be shown that the landslide is the direct result of heavy rainfall or other sudden catastrophic event, and not caused by pre-existing slope instability.

Recently, a lot of insurers or insurance company start to offer new coverage from 2018. It is overland flooding.

For example, if your insurance broker asks you if you want to purchase the coverage of overland flooding on renewal. You choose not to buy it. The DFA may not eligible to you.

Definition:

Overland flooding:

This is a type of flood that results from the level of water outside of your dwelling rising, allowing water to enter your home. That can be a result of water levels rising in the rivers due to rain or extensive volumes of melted snow, or overflow of dams and channels. This type of flooding is in general not covered in Canada and insurance companies will most likely decline your claims.

Reference:

https://www2.gov.bc.ca/gov/content/safety/emergency-preparedness-response-recovery/emergency-response-and-recovery/disaster-financial-assistance

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Legal costs is very expensive in Canada. Some business can not afford it.

What’s Covered in Legal Expenses Insurance Policy?

Coverage is afforded to the business and its officers, directors, managers, employees and if necessary, its volunteers.

The usual perils or risks a legal expenses insurance policy provides coverage for include claims that allege breach of contract, defence of criminal and qussi-criminal charges, employment disputes, business licence protection, property protection and tax audits.

1. Contract Claims
2. Employment Disputes
3. Legal Defence
4. Business Licenses
5. Property Protection
6. Tax Protection
7. Legal Advice

The typical business insurance package offers your clients a defence to claims brought against it by third parties claiming damages arising from negligence or property damage. However, what they do not offer is coverage for matters that arise from day to day business operations such as claims for breach of contract. In addition, unlike typical liability policies that only respond to claims made against your clients, a legal expenses insurance policy can also cover the cost of claims that may be brought by your clients. A legal expenses insurance policy will enable your clients to obtain a remedy through the courts.

A legal expenses insurance policy can fill in the gaps that your business client’s typical liability insurance program unintentionally creates, issues that the typical liability insurance policies do not cover. Liability insurance does not provide plaintiff coverage and typical business insurance programs do not provide coverage for legal disputes unrelated to claims for negligence but that arise in the course of business. These are the gaps and the costs associated with these issues are the areas and costs that legal expenses insurance policies cover.

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vi CBC

Experts suggest there is 30% chance of a significant damaging earthquake concurrence in British Columbia with in the next fifty years. An earthquake like this could destroy your home or contents, or even cause loss of life. Without proper protection, it could take years to recover from the financial loss.

In Canada, a typical property insurance policy does not provide coverage in the event of an earthquake. It is not a standard coverage which supposed to be included automatically.

However, if purchased, Earthquake Insurance provides reimbursement for the following if caused by earthquake shake:

• Damage to your home, detached structures and contents.
• Out-of-pocket living expenses, or Additional Living Expenses, in the event your home is uninhabitable.
• For condominium Owners, assessments made against you by the Condominium Corporation in the event their insurance is not enough.

Fire Following An Earthquake

Please be noticed, sometimes, the property is damaged by a fire following an earthquake, coverage is provided by the property policy, not by Earthquake Insurance. Coverages and deductibles applicable in such an event are generally the same as indicated above for Earthquake coverage.

There are some big differences between the regular property insurance and Earthquake policy.

• Higher Deductibles – typically 10% of the coverage, some higher risk location 15%, such as Richmond, Delta in BC.
• Most home policies provide for replacement of your building up to the policy limit, provided it is rebuilt on the same site. However, in the event that you are restricted by law from rebuilding on your existing site after an earthquake, insurance company may waive the same site requirement.
• There is no coverage for damage from flood or tsunami. But, you can purchase the flood endorsement if you want .
• There is no coverage for costs associated with stabilizing your land. Land is not covered.

The rate of Earthquake insurance is very high in Low Mainland, BC. We are located in earthquake zone. Do your research and shopping around.

I always recommend my clients to purchase home insurance policy with earthquake, and flood, and sewer backup coverages.

The post Are you covered if Earthquake happens? appeared first on David Yin's Blog.

Personal Property
Condominium insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren’t worth a lot, but those items all add up when you have to replace them.
It is also including jewellery, high value items. If you have a lot, please do remember to take pictures and list these items.
Personal Liability
Finally, in the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. A condominium policy provides liability coverage and personal property insurance should this ever occur.
The above four coverages are most important part of your condo insurance.

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