Homeowners who assume that flood coverage is included in their standard homeowner’s policy will be in for a rude awakening (and hefty out-of-pocket costs) should rain waters start to rise in their neighborhood.

That sad reality hit several homeowners in Newfoundland & Labrador in January 2018 when heavy rain and melting snow caused basements to flood and forced many to evacuate their homes for safety reasons.

In a CBC News article, Kent Rowe, chairman of the Insurance Brokers Association of Newfoundland, said flood coverage often gets overlooked by homeowners until it‘s too late. He strongly cautioned homeowners against skipping important supplemental coverages without first giving them careful consideration.

“Sometimes people take their insurance product for granted and they purchase the bare minimums and look at it as a bit of a grudge purchase. But you really need to carefully evaluate what you’re doing when you’re buying an insurance policy,” Rowe said.

An experienced insurance broker can help concerned homeowners assess the risk of flooding in their area and recommend the most affordable supplemental coverage.

Rowe says in addition to flood coverage, homeowners should also seriously consider adding sewer backup coverage, which covers water damage caused when the city sewer system backs up.

If you don‘t have flood or sewer backup coverage, ask your insurance broker to give you a quote on the cost to add these valuable coverages to your current policy.