At Gibb Insurance Brokers, we understand that basement water damage is one of the most common reasons for home insurance claims. With 80% of Canadian homes having a basement, taking preventive measures against potential flooding is crucial. Recent studies show that one in 10 homeowners experience basement flooding, and repair costs have risen almost 20% since 2019.
Basements are no longer just storage spaces; they host entertainment systems, gym equipment, and valuable furniture. However, their vulnerability to water damage can lead to costly repairs. It’s estimated that more than half of all basements have the potential to flood, which is alarming because many use this space for essential storage for valuables.
To help you protect your basement, here are some practical steps.
Review Your Insurance: Contact us to understand your coverage options, as flood protection isn't always mandatory across Canada.
Elevate and Protect: Raise items like TVs and use plastic storage containers instead of cardboard to safeguard your belongings from water damage.
Direct Water Away: Consult with a landscaper to manage water flow and protect your home's foundation.
Use Technology: Install water leak detection systems to receive alerts and take timely action.
Plan Renovations Wisely: If you're renovating, discuss flood prevention strategies with your contractor to minimize future risks.
If you would like to discuss your home insurance coverage with regard to potential flooding and damage, please reach out to us: 519-736-8228