“I discovered water damage in my home. Will insurance cover me?” Sep 1st

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
 term insurance

Trip Planning and Travel Insurance Dec 11th

Planning a trip can be a very exciting time. You have a destination picked out and you are looking forward to activities that you love to do. Hotel rooms are booked, and you cannot wait to get going. But have you taken steps to protect yourself from medical emergencies? What about protecting yourse.... More »
 insurance company

The best Aeroplan credit cards in Canada for 2023 + MORE Jan 19th

Spend Best cash back credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Let’s get started .... More »

Anne T. Donahue: How I Stopped Romanticizing the Millennial Obsession With Productivity Jun 5th

In November 2019, I got in a car accident. Driving home to Cambridge, Ont. from Toronto one evening, I crashed into a car that had, seconds before, crashed into somebody else. All parties involved were lucky: No injuries were life-altering. My insurance would help me replace my totalled car, and the.... More »

Health insurance in Canada: A primer for students and recent grads Oct 27th

Whether you’re getting an eye exam, having your routine dental cleaning or a prescription filled, you’ve probably been asked if you have health insurance to cover a portion of the costs. Without it, you’ll be required to pay out of pocket for any costs that are not covered by your provincial o.... More »
 insurance quotes

The best travel insurance credit cards in Canada for 2023 Nov 1st

Spend The best travel insurance credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Find my perfect card* .... More »
My washing machine has been leaking for years, and we only just learned of the leak and the resulting damage because of staining on our basement ceiling below. Will my home insurance cover this? —Alison

Does home insurance cover water damage?

The end result of water damage to your home is almost always the same: repairs to your floors, drywall or electrical and heating systems. However, the cause of the damage ultimately determines whether it’s likely to be covered by home insurance. What matters is how the water enters your home.

Whether or not a water claim is covered also depends on the type of insurance you have. Many home owners opt for comprehensive home insurance, which offers the most coverage, but there are other options available, such as a basic or broad home insurance policy. (Here’s how to compare policies before you buy).

Comprehensive insurance covers the home and its contents from a number of risks, including many water-related claims. Along with earthquakes, the one common exclusion is flood damage caused by natural disasters…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!