Flood Insurance

Many people feel that flood Insurance is for homes that are located near the coast or by large lakes or rivers. Nothing can be further from the truth!


Extreme weather can and will happen. Fresh water floods and flash floods can occur all over the country. Torrential rains, clogged sewer drains, soaked grounds and snow melt will contribute to catastrophic fresh water flood emergencies.

Weather patterns are changing worldwide, a trend that’s affecting Canada directly. The devastating fresh water floods in Alberta and the Toronto area in 2013 highlighted a key environmental truth – our country is getting wetter. The end result is staggering: Average yearly rainfall in Canada has increased by 12% in the past 60 years, with 20 more days of rain a year since the 1950s and catastrophes like overland fresh water flooding are on the increase. Canada now has 20 times the storms and fresh water floods that we had just two decades ago – and major fresh water floods represent almost 40% of all natural disasters ever recorded in this country. According to Environment Canada, severe weather events that used to happen every 40 years can now be expected to happen every six years.

What is the real danger? The danger I’m talking about is not carrying a fresh water flood insurance policy. Even one inch of water in your home could cost you thousands of dollars in damages.

Your standard homeowner policy will not pay for fresh water flood damage.
You will need to purchase a separate policy.
So how does it work?

The availability of fresh water flood coverage (also known as Overland Water Protection) for your home is quite new in Canada. The premiums are set based on the property location and amount of coverage requested. Properties are located in various “zones” and the price or availability of fresh water flood coverage is based on the "zone" you live in. The closer the dwelling is located to a body of water the greater the likelihood that it is in a higher risk flood hazard area. Fresh water flood insurance premiums are higher if a property is located in a high flood hazard area and coverage may not be available.

It may not be long before the lending institutions supplying your mortgage will require fresh water flood insurance.

Since the flood zones that insurance companies use may be different from those found on municipal flood maps in Ontario give us a call to find out how your home will be rated for fresh water flood coverage. Homes located in some higher fresh water flood hazard zones may be eligible for coverage based on the finished elevation of the dwelling and the type of foundation. In short, the higher the elevations of the structure off the ground, the less likely the chance of fresh water flood damage and the more likely that coverage is available.

We can review the “flood zone” in which your home is located, determine the structure and foundation type and review some coverage options and deductibles with you. Each of the members of our protection team are well versed in giving you the best coverage possible at a very competitive price.

I hope that the information provided here has helped you to gain a greater understanding of fresh water flood insurance and how important it is. We routinely talk to our customers and friends about this subject and the changes that continue to occur. We are passionate about this subject because of all the situations we have seen during our long experience working in the region. The various fresh water floods caused by ice dams and flash floods that have hit us over the years have all done considerable damage to many homes, businesses and other properties in our communities.

That's why it is so important to us that you are protected.

The good news is that this product is now available in Ontario and the trained professionals at Colley Insurance can make it affordable for you! Call us today to find out more and obtain a hassle-free quote from our Fresh Water Flood Insurance Experts.

This information is for descriptive purposes only. In the event of a claim your policy wording will apply.

Additional information: Ontario Floods

How to Prepare a Family Flood Kit