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Yahoo
07-07-2025
- Climate
- Yahoo
Is water damage covered by your home insurance policy? Learn more about prevention tips and coverage to help protect your home
According to the Insurance Bureau of Canada, 2024 was the costliest year for severe weather-related losses in Canadian history, with $8.5 billion in insured damages due to wildfires, hail and floods. Flooding, in particular, caused $990 million (in July 2024) and $110 million (in August 2024) in insured damages alone. Water damage is one of the most common causes of home insurance claims, and for good reason. Whether it's a leaky roof or a clogged drain, water can wreak havoc in your home leading to extensive damage and expensive repairs. Taking steps to help mitigate potential risks of water damage can go a long way in protecting your home and your wallet. Here are a few tips to help you understand the causes and early signs of water damage and how TD Insurance can help protect your home. What causes water damage and what are the early signs? Water damage can be caused during heavy rainstorms, during which water can seep into your home through your roof, windows, doors or walls. Originating from inside your home, water damage can also be caused by clogged drains, faulty plumbing or malfunctioning appliances. It's important to be aware of and identify the signs of water damage as soon as possible. Things like peeling wallpaper or bubbling paint, a damp or musty smell, buckled or warped flooring or puddles of water in odd places are some early warning signs that water might be causing problems in your home. Other signs can include mold or mildew growth, soft or damp spots on walls or floors, or brown or yellow stains on ceilings. Once you notice the early signs of water damage, it's important to act fast to address the problem and help prevent further damage. Tips for preventing water damage in your home Given the havoc water damage can wreak in your home, it's best to not wait until it happens. Thankfully, there are steps you can take to help reduce your risk: Keep up with roof inspections: Damaged or missing shingles can lead to a leaky roof. Have a professional roofer check your shingles and fix or replace them as needed. Clean your eavestroughs and downspouts: Seasonally clean your eavestroughs and downspouts to remove clogs from leaves, branches and other debris. Another tip is to make sure that your downspouts drain far enough away from your home which will help reduce the chance of water entering your foundation, especially if your grading tilts toward your home. Regularly check your windows and doors: Look for any cracks or gaps in the caulking or sealant round the windows and doors. It's also a good idea to check the foundation for any visible cracks. If you find any gaps or cracks, you may need to replace the caulking or repair the foundation to help reduce the chance of water finding its way into your home. Check your plumbing: Inspect any visible pipes in your home for signs of wear, corrosion or leaks and upgrade old pipes and fittings as needed. Use best practices for landscaping: Ensure that trees aren't planted too close to your home to help limit the risk of roots damaging your foundation or drainage system, and be sure to keep the ground sloped away from your home's foundation. Consider installing a sump pump: A sump pump usually sits below your basement floor and moves water out of your basement if the water level in the sump pit gets too high, which helps to keep your basement dry. It's also recommended to have a backup power source for your sump pump to ensure it continues to work in the event of a power outage. Consider installing a backwater valve: A backwater valve is a preventive device that can be installed on your sewer line to ensure that any excess water or sewage flows out of your house. Consider installing smart home monitoring devices: Get notified if a water leak happens. The ability to monitor and react to the water leak can help you potentially save time, money, and energy to help you feel safe and secure whether you're indoors or away from home. Also, get rewarded with savings on your home insurance for having a connected alarm for water damage. When it comes to water damage, taking proactive, preventative measures can help to decrease the risk of water damage, and with TD Insurance, you can get the coverage you need to help protect what matters most. What's covered by home insurance? Home insurance policies typically include coverage against sudden and accidental water damage from your plumbing system. The standard TD Insurance home insurance policy typically covers water damage caused by: Sudden burst pipe in the bathroom Sprinkling system rupture Plumbing system rupture Heating system rupture Water leaks from a dishwasher, hot water tank¹ or other household appliances and Escape of water from a public water main that carries drinking water While these are examples of scenarios where standard insurance could cover you, additional coverage can provide protection for a wider range of potential issues. TD Insurance offers additional water damage coverage that helps to protect your home in situations that are not be covered by standard home insurance policy, such as: Extended Water Damage Coverage: This coverage provides protection against water damage caused by sewer backup, or ground or surface water from a freshwater source that enters or seeps into your home. It also covers water damage caused by overland water that enters your home due to the rising or overflow of a stream or body of freshwater. Above Ground Water Coverage: This coverage provides protection against water damage caused by water originating from eavestroughs, downspouts, rain leaders or roof drains, as well as rain, snow, melting snow or melting ice that enters or seeps through the roof or above ground walls of the building or an opening. This coverage provides protection against damage caused by water originating from eavestroughs, downspouts, rain leaders or roof drains, as well as rain, snow, melting snow or melting ice that enters or seeps through the roof or above ground walls of the building or an opening. Ice Damming and Roof Drain Back-up Coverage: This coverage protects against water damage caused by ice dams, including water that enters the dwelling through a roof due to the accumulation of ice or snow, as well as the backup, overflow or discharge of water from eavestroughs, downspouts, rainwater leaders or roof drains. Keep in mind, though, that exclusions may apply to these types of additional water damage coverages.¹Water heater tank(s) need to be replaced before the age reaches 15 years or older to avoid an exclusion of coverage. Loss or damage caused by water originating from your water heater tank(s) will not be covered if the manufacturing date is 15 years or older. TD Insurance residential and personal lines automobile insurance policies are underwritten by Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company, and TD Home and Auto Insurance Company, and are distributed by TD Direct Insurance Agency Inc. and Meloche Monnex Insurance and Financial Services. Due to provincial legislation, TD Insurance does not offer personal lines automobile insurance products in British Columbia, Manitoba, or Saskatchewan. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
24-06-2025
- Automotive
- CTV News
Alberta's Care-First auto insurance could cost drivers more: IBC
The Insurance Bureau of Canada says Alberta's Care-First plan is in desperate need of changes if it's expected to help reduce costs and improve care. (File) Auto insurance premiums could increase for Albertans under the province's new Care-First system, says the Insurance Bureau of Canada (IBC). The company says it's reviewed a report from consulting firm MNP that found the maintaining the ability of drivers to sue other drivers in an accident would add $136 in annual premiums. IBC says it wants the Alberta government to resist pressure to keep this ability in the new system. 'Litigation in Alberta's auto insurance system creates significant costs for Alberta drivers. Removing this, to improve affordability and care, is the main reason the government decided to transition to its Care-First model,' said Aaron Sutherland, IBC's Pacific and Western vice-president in a news release. 'The provincial government designs and mandates the auto insurance products that insurers must sell. No other province with a care-based system permits the ability to sue as envisioned in Alberta because of the significant costs it adds for drivers, while doing nothing to improve care for those injured in collisions.' IBC says legal costs are increasing by 9.7 per cent and benefit costs are increasing by 11.9 per cent – much faster than the government's 7.5 per cent auto insurance cap can handle. With higher repair costs, inflation and tariffs, the inclusion of tort access in the Care-First model could risk its failure, IBC says. 'The Alberta government is trying to deliver significant savings under the new system, but current auto insurance rates are under tremendous pressure,' said Sutherland. 'The insurance industry supports the government's goal of making auto insurance more affordable for Alberta drivers. But to do that, a significant course correction is needed.' The final look of Alberta's Care-First model hasn't been announced. The system is expected to come into effect in approximately 18 months.
Yahoo
17-06-2025
- Automotive
- Yahoo
How to prevent your vehicle from being stolen amid Canada's auto theft crisis
Andrew Hurtado was fast asleep in his Innisfil, Ont. home one night in March when his $70,000 2023 Toyota Tundra was stolen from his driveway. The thief quickly turned off Hurtado's car alarm before it had the chance to wake him. Police later found the vehicle in Scarborough, Ont., but not before it racked up $21,000 in damages. 'Now we are paranoid,' said Hurtado. 'There's definitely a trauma associated with this.' Auto theft has been a national problem in Canada for some time now, says Amanda Dean, vice-president of Ontario and Atlantic with the Insurance Bureau of Canada (IBC), an association representing home, auto and business insurance companies. And it's not only the direct victims who pay the price. 'The more pressure that there is on claims, the more pressure there will then be on [insurance] premiums,' Dean said. 'We, as insurers, certainly want to work to keep those numbers down.' In Ontario, a particular hot spot for auto theft, the number of insurance claims has risen 165 per cent since 2017, and the costs to service those claims are up 538 per cent, new data from IBC reveal. In Toronto, where the large majority of vehicles are stolen, 63 per cent of residents 'live in fear' that their vehicle will be taken, the report says. Canada's top stolen vehicles include Toyota Highlander, Dodge Ram 1500 Series, Lexus RX Series, Honda CR-V and Toyota RAV4, according to Équité Association, a not-for-profit organization focused on insurance crime and fraud prevention. George Iny, president of the Automobile Protection Association, says Canada is still in an auto theft crisis because some vehicles are easy to steal, and historically, coordinated law enforcement efforts around auto theft were lacking — but have since improved. Drivers, in turn, are responding to the crisis by increasingly adding tracking devices onto their vehicles, says Matt Dillon, executive vice-president of operations at Magrath, Alta.-based Surex, an online insurance brokerage. Surex's own internal data show approximately six per cent of clients used a tracking device for commonly stolen cars last year. Now, it's seeing that figure increase to as high as 25 per cent. Iny recommends drivers specifically use a car tracking system offered by Montreal-based Tag. Tag's technicians install multiple, hard-to-find tracking systems throughout the car, which can be tracked anywhere in North America. The company will also etch its logo on the front driver's side and passenger side windows to further prevent theft. Iny also recommends an etching system by Longueuille, Que.–headquartered Sherlock Antitheft Marking. Sherlock etches a unique code onto multiple vehicle components. That code, which is associated with the vehicle identification number, is then stored in a secure database available to law enforcement, insurance company investigators and border service agencies. 'If I'm going to steal the vehicle for export to a West African country, that's not going to bother the person buying it,' Iny said. 'But if I was stealing it for parts or stealing it to resell inside Ontario, cloned as a different vehicle, then all those numbers would have to be removed. I won't bother. It's very time-consuming and it will show that somebody sanded off the numbers.' For better value, Iny recommends drivers get etching done at an auto glass shop. 'It will be cheaper than what the dealer sells,' he said. 'We see the dealers mark up products with a retail price of $400 to $2,000 or $1,500.' Iny is less enthusiastic about steering wheel locks, such as the Club, as a theft deterrent, calling them a secondary line of defence. 'It's one step above junk,' he says, adding that they can give a false sense of security and are inconvenient to use. While a thief might not be able to cut the lock, they can cut the steering wheel, Iny says. Still, if a thief is targeting a specific make or model and sees three parked on the same street, they might skip the one with a steering wheel lock. For drivers whose vehicles are stolen just three or four weeks after purchase, it likely means they're being watched, Iny warns. 'It's an argument in favour of buying something that people don't want to steal as much, rather than buying the same thing next time,' he said. 'Emotionally, we want to replace what we lost, so that tends to be what we do, but it's not necessarily the most rational solution if you're being targeted.' While Hurtado had set up Toyota-specific tracking systems, the thieves quickly deactivated them. After his vehicle was recovered, he turned to the aftermarket and installed Tag's anti-theft system, with some assurance that it offers better protection. Sign in to access your portfolio
CTV News
15-06-2025
- CTV News
Going to Jasper for the first time since the wildfire? Here's what you should know before you go
A year after a wildfire destroyed one third of the town, Jasper is open and eager to return to the normalcy of hosting summer visitors. Here's what you should know before planning a trip. Quick facts On July 22, 2024, wind pushed three wildfires to merge into one big wildfire that would breach the Jasper townsite two days later . In total, the fire burned 330 square kilometres of land in the national park and destroyed some 350 buildings in the townsite, forcing its closure for nine weeks. The fire was classified as under control on Sept. 7 and extinguished on April 1. According to the Insurance Bureau of Canada, the wildfire was the second-costliest fire disaster in Canada's history, with a total damage estimate of $1.23 billion . Most of the park survived unscathed, but there are some accommodation and service reductions Jasper has 20 per cent fewer visitors beds (in hotels and private rentals) than it did before the fire, and Jasper National Park's camping inventory is down about 30 per cent. Because accommodations were in high demand before the fire, officials are stressing the importance of securing a place to stay before hitting the road. As well, the wildfire destroyed or damaged several businesses in the townsite, plus trails, campgrounds and scenic points in the national park. Most of the latter have been assessed and reopened, but Parks Canada expects some to remain closed for the summer, including Malign Canyon, Valley of the Five Lakes, and Cavell Road leading up to Mount Edith Cavell. 'The vast majority of the park is unaffected,' said Jasper National Park's Jennifer Dubois. 'You could almost come and in some places, you would not notice that there's ever been a fire.' According to Tourism Jasper, the destination has about 50 attractions and 70 food and beverage locations this year. Some of the businesses that were destroyed in the townsite have set up shop in a pop-up retail village at 635 Connaught Drive, including tour guides, bike rentals, and restaurants. Both the municipality and park provide a list of open services online: Businesses are also dealing with a smaller workforce, because the wildfire destroyed some of Jasper's housing for seasonal workers. The wildfire has created new tourism opportunities in the national park Dubois said the wildfire has changed parts of Jasper National Park's landscape in a once-in-a-lifetime way. 'There's landscape features that have been revealed that you wouldn't have seen before. We've had a fair bit of moisture here the last couple of weeks, so things have really started to green up, and I would anticipate we'll start seeing fireweed and other really interesting, beautiful wildflowers coming out,' she told CTV News Edmonton at the end of May. Parks Canada has prepared programming around the wildfire about fire ecology, fire-adapted species, and forest health, as are private tour operators. Respectful curiosity about the wildfire's impacts is welcome Jasper's mayor understands curiosity about wildfire damage is natural, but is asking visitors to obey closures and ask questions sensitively. 'There are still people in our town who are grieving and will be grieving for years to come,' Richard Ireland told CTV News Edmonton. 'We simply ask and we expect that (visitors) will be respectful… They're invited to attend and learn what they can because what they learn here could help them save their own communities.' The town and park will use signage to identify what is closed or open to only locals. Parks Canada's visitor experience centre has also been updated with information about the wildfire. In the national park, it will be especially important to stay on trails in burned areas to prevent the spread of non-native vegetation, to prevent the creation of new rails, and to avoid animal encounters. Dubois said wildlife will be more visible in burned areas and should be given more space. More information about hazards in burned wild areas are available on Parks Canada's website . Jasper wants and needs people to visit Tourism is Jasper's biggest industry and the busiest season, summer, makes the rest of the year profitable for most businesses. As such, tourism is essential to the town's recovery. 'I honestly believe the best thing that people can do is visit,' said Tourism Jasper's CEO, Tyler Riopel. 'The best thing that people can do is to come stay in a hotel, eat at a restaurant, buy some souvenirs. That ensures that our businesses stay healthy, which means our community stays employed.'
CTV News
05-06-2025
- Business
- CTV News
NDP calls for greater accountability in wake of Nova Scotia Power cyberattack
There are concerns customers could be on the hook to pay for the recent Nova Scotia Power cyberattack. Nova Scotia Power may have weathered the cyberattack that compromised its systems, but the political and financial fallout continues, along with calls for accountability. At the legislature's public accounts committee on Wednesday, NDP Leader Claudia Chender criticized the utility for what she described as a failure to protect Nova Scotians. 'Legally, Nova Scotia Power is the victim, but actually it's Nova Scotians who are suffering harm,' Chender said. The utility's president and CEO Peter Gregg confirmed that while the company has cyber insurance, there is still no estimate of the total cost to repair and restore its systems. 'We do not have an estimate of the full cost of restoration at this point,' Gregg said. 'That is an ongoing part of our investigation.' That uncertainty raises the possibility that ratepayers could bear some of the cost. Chender and others said that should not be the case. Insurance industry experts say demand for cyber insurance is rising across Canada, and when large-scale claims are filed, premiums tend to rise. 'All sorts of things could impact what your premiums look like going forward,' said Amanda Dean, vice-president of Ontario and Atlantic at the Insurance Bureau of Canada. 'Especially the claims for the pool you're paying your premium into.' Chender argued that existing legislation doesn't go far enough to protect consumers after such breaches. She said the NDP plans to introduce legislation that would enable class-action lawsuits in Nova Scotia, similar to legislation already in place in British Columbia. 'That way, an organization like Nova Scotia Power can actually be held liable for this kind of breach, which right now is very difficult to do,' she said. Chender also said the utility's offer of two years of free credit monitoring for affected customers is inadequate. 'They should be offering five,' she said. 'There should be the ability to have a free credit freeze.' Nova Scotia Power said it's continuing to investigate the data breach, along with provincial officials and the federal privacy commissioner. The province's auditor general may also get involved, though any potential audit is still in the early stages. Claudia Chender Nova Scotia NDP Leader Claudia Chender speaks to reporters at Province House following the speech from the throne and opening of the legislature in Halifax on Friday, Feb. 14, 2025. (Darren Calabrese) For more Nova Scotia news, visit our dedicated provincial page
