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Winter Maintenance Tips

Ross Fraser — Sat, 15 Dec 2018 09:00:05 +0000

Preparing your home or cottage for winter is an important annual ritual. For instance, did you know that adding insulation in your attic before winter arrives can help prevent ice dams? And don’t forget that tuning up your heating system now can help prevent more costly emergency repairs at the height of a storm, when it can be difficult to find supplies and licensed contractors. The following winter maintenance tips can help you prepare your home and cottage to withstand another cold season.

Your Heating System

Before you give your heating system a workout this winter, take the time for preventive maintenance. It may help extend the life of your system and identify potential problems.
Before Winter:

Have your furnace and other heating systems checked and serviced by a licensed contractor at least once a year, preferably before the heating season begins.
Clean or replace any filters on forced hot air systems.
Have your chimney checked and serviced by a licensed contractor at least once a year, with particular attention to removing creosote buildup from woodstoves and fireplaces.

During Winter:

Have your fuel tanks filled and keep an eye on levels throughout the winter.
Set your heat no lower than 14 degrees, as the temperature inside the walls where water piping is located is colder than the living spaces; open doors to unoccupied rooms to keep an even temperature throughout the home.
Maintain your wood-burning or pellet stoves according to the manufacturer’s instructions.

Your Insulation

If your cottage is winterized, insulation provides an important line of defense from winter’s gusty winds and freezing temperatures, it is worth taking time to inspect and upgrade insulation and weather stripping before the season starts.

Add extra insulation in the attic to help guard against ice dams. If too much heat escapes into the attic, it can warm the ice and snow on the roof. When it refreezes, it can cause an ice dam, leading to water damage or even a roof collapse.
Add weather stripping around doors and caulk windows to guard against drafts and heat loss.

Your Utilities

Freezing temperatures can be especially damaging to your plumbing. If your pipes aren’t drained for the winter, be sure to prepare them to withstand the cold.

Check for water leaks and fix problems immediately; wrap water piping in UL-Listed heat tape and insulate if it is exposed in unheated areas such as garages, crawl spaces or attics. Use only thermostatically-controlled heat tape if your water piping is plastic, and follow the manufacturer’s instructions.
Learn how to shut off your water and know where your pipes are. In a freeze, you may be able to prevent water damage.
If traveling, set your heat to ensure the home stays warm enough to avoid freezing, or drain all pipes and appliances.

Your Winter Safety Measures

Trim trees and remove dead branches so they do not damage structures or cause injury if they fall due to ice, snow or wind.
Clear gutters of leaves, sticks and other debris to ensure melting snow can drain properly. Direct downspouts away from the foundation.
Repair steps and handrails for safety in ice and snow.
Check smoke detectors, fire alarms and carbon monoxide detectors, and replace batteries for proper operation.

Key Supplies & Equipment

Make sure you have snow shovels and a roof rake on hand. Stock your ice melting compound to melt ice on walkways.
Service your generator or snowblower and store their fuel in approved containers, away from sources of heat.

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Cannabis Legalizaiton in Canada

Ross Fraser — Wed, 17 Oct 2018 08:00:07 +0000

On October 17^th, 2018 Canada became just the second country in the world to legalize the recreational use of cannabis. While the implications of this legalization will be wide-reaching and have yet to be fully realized, there are some important insurance implications that you should keep in mind.

Driving Safety

Impaired driving remains an illegal act, whether the impairment is caused by alcohol or drugs, and is the leading criminal cause of death and injury in Canada. With the legalization of cannabis, families are encouraged to discuss the dangers of drug-impaired driving with the same seriousness as drinking and driving has been approached in the past. New legislation allows Police to use approved drug screening devices, similar to their response when dealing with a suspected drunk driver. Remember that there is a zero-tolerance policy with respect to young and novice drivers.

For Auto Insurances purposes, a conviction for drug-impaired driving is comparable to a conviction for alcohol impaired driving. Both are considered Criminal Code offences and will result in significant premium surcharging or even declination of coverage. In no uncertain terms, driving while under the influence of any drugs or alcohol is unacceptable.

At Home

The new legislation allows Canadians to legally grow up to four plants per residence. Please note that this is a per residence limit and not a per person limit. If you are considering growing plants under the new legislation, please read the rules carefully to ensure you are in compliance. From a risk management perspective, growing can involve the use of specialized lighting or other equipment and licensed electricians should be consulted or used where necessary. As with any plant, growing inside your home can attract pests, which can cause a significant nuisance or even damage to the rest of your home. Cannabis plants in your home can also represent an allurement for ‘smash and grab’ style burglaries, meaning they should be stored out of sight and in a secured location. A monitored burglary and fire alarm system should be considered.

Each Insurer has their own approach to home-based growing, and we may be in touch with any specific underwriting questions or requirements your Insurer may have.

Host Liability

With the legalization of cannabis, hosts should approach service and consumption in the same manner as alcohol. As you may already know, whether you are hosting friends in your home or a work social event, you have potential liability for bodily injury or property damage to others, arising out of the negligent serving or distribution of alcohol. Hosts have been found responsible by the courts for the actions of their guests who consumed past the point of intoxication. If alcohol or cannabis will be consumed at your event, consider asking participants if they have a designated driver, ensure non-alcoholic beverages and food options are available, have cash on hand for cabs to prevent impaired driving, and keep a watch for over consumption or signs of intoxication. Call our office if you have any questions, or if you would like a quote for separate Host Liability Coverage for your event.

Travel

Despite some states having different rules, cannabis possession is still illegal under U.S. federal law – do not attempt to enter the United States with any cannabis. While there is some allowance while flying within Canada, cannabis is not permitted aboard international flights.

Insurance policies contain exclusions that apply when Insureds engage in illegal activity, so it is up to all of us to ensure we fully understand and adhere to the new laws of the land. To help, visit the following links:

Canada’s Cannabis Act Website – canada.ca/cannabis
Ontario’s Cannabis Website – https://www.ontario.ca/page/cannabis-legalization

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Fall Home Maintenance Tips

Ross Fraser — Fri, 12 Oct 2018 02:36:38 +0000

While spring is a common time for many homeowners to spend some extra attention on upkeep and maintenance, autumn is just as critical a season for preparing your home to withstand the potentially harsh winter weather and temperature conditions that may await you. By making maintenance part of your annual fall routine you can identify potential problems before they arise, and help prepare your home and property for what Mother Nature has to offer. These tips are provided by Travelers Canada, the underwriter of the CottageFirst Insurance program!

Following are some home maintenance tips from our Risk Control professionals to help you prepare for the coming winter:

Have your heating system cleaned and inspected annually by a qualified technician.
Replace your furnace filter in accordance with manufacturer’s instructions.
Insulate water pipes in areas exposed to freezing temperatures.
Check gutters for damage and confirm they’re securely attached to the house.
Clean gutters and downspouts to keep debris from accumulating. This is especially important during the fall season when leaves may collect in gutters.
Check and repair caulking around doors and windows that show signs of deterioration.
Have your chimney cleaned and maintained by a professional. If you use a wood stove, check for wear and tear, corrosion, etc. and store your wood in a dry, cool area away from the wood stove and potential sources of ignition or pests.
Clean the clothes dryer exhaust duct and space under and behind the dryer. Remove lint and dust that may have accumulated inside the dryer in accordance with the manufacturer’s recommendation.
Check electrical outlets for loose-fitting plugs or receptacles. Be sure not to overload electrical outlets.
Keep a multi-purpose fire extinguisher accessible. Confirm that it is fully charged and ready for operation.
Inspect your smoke detectors. Make sure you have a smoke detector in each bedroom or sleeping area and also, a smoke detector in the hallway outside each sleeping area. You should also make sure you have at least one smoke detector on each floor of your home, including your basement. Test them monthly, and change the battery annually or as needed.

The steps you take during the fall can help protect your home and property from more potentially expensive damage and emergency repairs in the colder months to come.

Original Article

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Snowbirds: Winterize Your Home While You’re Away

Ross Fraser — Fri, 06 Oct 2017 11:30:18 +0000

If you are a snowbird heading south for the winter, there are several key things you can do to help protect your vacant home. Taking these steps can help protect your home from theft, water damage, heating or electrical system malfunctions and other possible threats while you are away for an extended period of time. These tips are provided by Travelers Canada, the underwriter of the CottageFirst Insurance program!

Download the Snowbird’s Checklist for Preparing Your Home

1. Make Your Home Appear as Though It Is Continuously Occupied

Forward your mail, stop newspaper delivery, and ask a friend or relative to collect flyers or other items that may be left at your door.
Arrange for someone to remove snow after storms.
Put motion-sensitive exterior lights and interior lights on timers and set them to come on at varying times to discourage prowlers.

2. Take Steps to Protect Your Home from Thieves

Confirm that your alarm systems are in working order and have been activated.
Secure external doors and windows with deadbolt locks, security-type hinges and sturdy door frames that cannot be spread apart. Install slide locks or other equivalent security locks on sliding glass doors or French doors.
Store valuables that you are not taking with you in a safe deposit box or other secure offsite location.
Do not post your vacation or travel plans on social media sites, as potential thieves can use that information to learn that your house is vacant.

3. Protect Your Pipes to Avoid Water Damage by Turning Off Your Water Supply

If a pipe bursts or leaks while you are away, it may cause significant damage. Consider completely turning off the water supply if no one will be in the home for an extended period of time. If your home is heated by an older system, consult with your heating professional.
Drain your pipes of all water by opening the faucets, and flush your toilet to clear the water from the tank and bowl, then consider pouring antifreeze in toilet tanks and bowls to prevent any remaining water from freezing and cracking.* Always use non-toxic antifreeze rated for plumbing systems.
To help confirm that the pipes have been drained, consider having a plumber blow compressed air through the pipes.

4. Keep Your Home and Plumbing Warm if Your Water Supply Stays On

If you decide against draining your water pipes, keep the furnace running to help ensure the home stays warm and the pipes do not freeze.
Set the temperature at around 13°C or higher to help keep the interior of the floor and wall cavities, where the water piping is likely located above freezing temperatures. Keeping room and cabinet doors open also helps heat to circulate and warm the areas where pipes are located.
Shut off the water to washing machines and dishwashers and drain the appliances where possible, to avoid any leaks or broken hoses while you are away.
Turn off the heat source and water supply to hot water heaters (unless you have a boiler).
Consider shutting off and draining outdoor water faucets to prevent vandalism and freezing damage.
Have a water flow sensor and low temperature sensor installed on your main water supply pipe and hooked into a constantly monitored alarm system.

5. Perform Routine Maintenance Before You Leave

Have your heating system inspected and serviced before winter. Have your fuel tanks filled before you leave, and ask someone to check on heat and fuel levels regularly while you are gone.
Be sure to maintain electrical power if required to keep the heating system running. If electrical service to the home is to remain on, consider having a licensed electrical contractor inspect your main electrical panel, wiring and outlets, if necessary. This way, they can repair or replace anything that may be defective.
Have your roof inspected before you leave and clean your gutters to help prevent ice from building up.*
Remove dead trees or large overhanging limbs that could damage your house.
Unplug all unnecessary appliances before you leave. Make sure you can retrieve messages on your home answering machine or voicemail so it does not indicate FULL or unattended when someone calls.

6. Make Your Home Unattractive to Pests

Clean your home thoroughly to help discourage new “residents” from moving in.
Clean, defrost and unplug refrigerators and freezers, wiping them dry and leaving doors propped open to prevent mildew. Also clean the oven.
Inspect your home for openings that animals could use to enter. For example, make sure your fireplace flue is closed, as bats, birds and squirrels are known to get inside this way.
Check weather-stripping, insulation and exterior doors and windows to ensure no major deficiencies are present. Water and insects can enter through these openings.
Chimneys should be inspected by a chimney service and, if necessary, cleaned to ensure that they are free from obstructions such as nesting birds. Install chimney guard screen-caps to help prevent any infestation.

7. Be Ready for Emergencies

Call the non-emergency number of your local police department to see if they would like notice that the property will be vacant. If so, provide emergency notification numbers.
Install smoke detectors on at least every floor (preferably tied to a constantly monitored fire alarm system so the fire department will automatically be notified in case of alarm), and confirm that the sensors and system are tested regularly.
In higher wind-exposed or coastal areas, install storm shutters (or other mitigation measures, such as 5/8” marine plywood) to secure windows. Properly anchor personal property that will remain outdoors.
Ask a trusted friend, neighbor or relative to keep an eye on your home and be available in emergency situations. Give them access to your home and ask that they monitor heating, electrical and water systems. You may wish to hire a professional property management firm to provide this service to ensure it is completed on a regular schedule.
If the weather turns frigid, have your friend or property manager also check the roof for ice dams and inspect for leaks inside. Make sure they have your contact information and a list of local contractors they can reach if repairs or service are needed.

* Source: https://www.homeadvisor.com/article.show.How-Do-I-Winterize-a-Vacant-House.10834.html

Original Article: https://www.travelers.com/resources/home/safety/snowbirds-winterize-your-vacant-home.aspx

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Renovations & New Builds

Ross Fraser — Fri, 01 Jul 2016 17:10:52 +0000

Building New or Renovating a Home or Cottage

When constructing or renovating a property, insurance is an important piece of the puzzle that requires attention before the work begins to ensure your construction investment is properly insured. Designing a new building, or renovating an existing structure involves many different aspects of construction. You may be considering custom designed plans or a pre-designed package, but, regardless of which approach you choose, it is essential that you contact your insurance broker or agent before starting your project for guidance on the implications to your own insurance coverage. Many home and cottage insurance providers remove or significantly limit coverage on a dwelling that is under renovation or major construction. Specific insurance products are designed to fill the gap.

Builder’s Risk Insurance – New Builds and Renovations

A Builder’s Risk insurance policy insures the value of the completed construction project, offering coverage for insured property loss to your structure during a new build or significant renovation. This policy also insures building materials located on site that will be used in the construction, and may include coverage for soft costs such as architectural designs and permits. As the owner of the building under construction, it makes good sense that you own the Builder’s Risk insurance policy. Then, in the event of a claim, you work together with the Insurer to settle your loss. However, certain General Contractors may also offer to arrange this on your behalf as part of their contract with you. This insurance must be arranged before construction begins.

Depending on the scope of renovation, it may be possible to request an extension of your existing insurance policy during the course of construction. You should be sure to discuss both options with your insurance broker or agent to determine which coverage is the best and most cost-effective solution for your particular construction project.

Personal Liability While Building or Renovating

A construction project brings with it additional personal liability exposures to the property owner. Liability claims may arise from injuries or property damage to others allegedly resulting from your construction project. Be sure to speak with your insurance broker to ensure your existing personal liability coverage is extended to your construction site.

General Contractors

While there is excitement and a personal challenge in building or renovating your cottage or home, the value of a qualified, experienced General Contractor should be seriously considered. The expertise of a qualified general contractor is valuable and brings better accessibility and pricing with respect to Builder’s Risk insurance. Some policies will be unable to extend coverage without an insured General Contractor.

Proof of Commercial General Liability Insurance – It is important that the contract you sign with the General Contractor contains a clause that requires the General Contractor to provide you with a Certificate of Insurance, providing evidence of their Commercial General Liability insurance coverage.

Additional Insured Status – As Owner of the project and property, your name should be shown as “Additional Insured” on the General Contractor’s insurance policy. This request is typically satisfied at no additional cost to the General Contractor and is shown directly on the Certificate of Insurance.

WSIB – The General Contractor should provide a Clearance Certificate confirming they are registered with WSIB. This insurance, if in place, prevents them from suing you for their own injuries sustained while on your construction site. It is recommended that you visit www.wsib.on.ca to learn what is required of your General Contractor.

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Weathering a Winter Storm

Ross Fraser — Tue, 23 Feb 2016 22:30:02 +0000

What kind of Canadian winter would it be without a big snow storm! While these storms are a favourite for lovers of winter sports, they can also cause extreme disruption to travel, infrastructure, and day-to-day life. Remember that in serious emergencies, local governments expect households to be able to sustain themselves without assistance for at least 72 hours. If your local forecast has a winter storm on the horizon, take some time to consider how to best prepare. Many of the leading Canadian insurers offer suggestions about winter safety and how to avoid damage to your home and property, including the following by Travelers Canada:

Check Your Supplies

Make sure you have a snow shovel and some supplies for melting ice to keep your walkways and driveways clear and safe
Depending on how you heat your home, ensure you have a sufficient supply of heating fuel and fuel for your generator, if you have one.
If you have a fireplace or wood-burning stove, keep a supply of dry, seasoned wood in a place well clear of the fire itself.
Have warm clothing and blankets on hand, and stock up on non-perishable food items and necessary medications to last you and your family at least three days.

Prepare for Power Outages

If you think the coming storm may cause a power outage, turn your heat up now and close off any rooms not in use.
Check pipe insulation in your home. If you lose power, run the water at a trickle to prevent pipes from freezing.
Charge any battery-powered electronic and communication devices.
Keep a battery-powered radio on hand to stay aware of any change to the weather conditions.
Put your flashlights, batteries, first aid kit and other emergency supplies in a easy to find location.

Stay Warm and Safe

If you are going to rely on a fireplace or wood-burning stove, follow all regular safety precautions and visit our post about keeping your wood-burning stove and chimney in good working order.
Do not use an oven, range, or BBQ as a home heating device.
If you have a generator, only use it outside where there is sufficient ventilation.
Test all smoke and carbon monoxide detectors to ensure they work properly.
Do not let candles burn unattended, and keep them away from any combustibles. Battery-powered LED lights are a safe, energy efficient alternative to candles.
If your roof has an ice dam prevention system, turn it on before the snow falls.

Stay Inside and Safe

Drive only if you absolutely must, and be sure your car has four snow tires, adequate fuel and an emergency supply kit.
If you go outside to shovel snow, know your limits and don’t overtax yourself.
Protect yourself from frostbite and hypothermia by wearing layers of warm, loose fitting lightweight clothing.
Stay away from downed power lines.
Keep your pets inside or make other suitable arrangements for them.

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Getting Ready for Winter

Ross Fraser — Tue, 03 Nov 2015 18:00:30 +0000

With memories of the deep freezes of the last two winters fresh in our minds, we must all take the appropriate steps to prepare our vehicles and homes for the changing of the seasons. To help you spend more time thinking of warm fireplaces and hot chocolate, we have created a brief list of things to remember!

PREPARING YOUR VEHICLES FOR WINTER

Winter Tires – Winter tires should be near the top of your list when planning for winter. While all-season tires claim to be capable year-round, the soft rubber composition of winter tires allows for increased contact and therefore traction on the road during the cold of winter. Improved traction means better control and shortened braking distances.
- If you have Winter Tires for your vehicle, you may qualify for a modest discount from your insurer on the renewal of your policy. Generally, to be eligible for the discount, you must have a set of four tires specifically designed for winter (not all-season) on your vehicle from November to April. We recommend you keep your receipt for the purchase or installation of the tires, if the Insurer requests them. Winter tires usually have a lifespan of about 5 years, so be sure to get your tires inspected or replaced regularly. The average Winter Tire discount is about 2% – 3%. If your vehicle qualifies for this discount, give our office a call or email so that we can apply the discount on renewal.

PREPARING YOUR HOME FOR WINTER

Eavestroughs – Heavy snows can lead to a build-up of debris on your roof and a fast melt can test the drainage of even the most recently updated roofs. Be sure to clear out your eavestroughs of falling leaves and other clutter to minimize any backing up and potential leakage or drainage issues. Some home insurance policies include exclusions for water damage arising from the backing up of eavestroughs, so this maintenance is important. Be sure that all eavestrough drains run away from the foundation of the home as well.
Heating System – No one wants to come home to a home without heat in the winter. Now is the time for a maintenance check of your furnace or other home heating system. If your furnace is over 20 years old, it is even more important to have the unit inspected annually for the sake of safety and continued operation.
Fireplaces & Woodstoves – If you have a wood burning unit in your home, be sure to have the chimney inspected and cleaned regularly by a WETT-certified contractor. (www.wettinc.ca lets you search for a local contractor). During the significant power failure in Toronto in the winter of 2013, many homeowners found themselves turning to fireplaces that hadn’t been used or cleaned in years. This is extremely dangerous, as a buildup of residue in the chimney can cause a significant fire hazard. Regular cleaning and maintenance is key!
Driveways, Walkways & Sidewalks – With the snows of winter comes everyone’s favourite chore – shoveling! Be certain you have the tools necessary to maintain your driveways, walks and any sidewalks you may be responsible for clearing. Slip & fall claims are far more common in the winter, so ensure that your property is properly cleared and salted when necessary.
Prepare for Power & Service Failures – Recalling the power failures of the past few winters which left homes without power for several days, we have all learned it is best to be prepared in case this coming winter creates another power failure. Be sure that you have enough supplies to last at least 3 days. The Ontario Government has some resources available to help you plan for an emergency, including building a kit and keeping necessary supplies on hand. If your power does fail, pay close attention to your plumbing system. Once the temperature of a home begins to drop, the chance for freezing in pipes skyrockets with a potential for significant water damage when the pipes thaw and rupture. If you suspect your heat will be out for a while, drain your plumbing system completely including all appliances to prevent this freezing damage. Learn more about freezing pipes here.

Storing Seasonal Vehicles – Your summer cars, motorcycles, ATVs and other recreational vehicles are just about due to be put away for the winter. Conducting the storage maintenance routine specific to your vehicle now can prevent damage during the winter and make bringing the vehicle back out in the spring much easier.

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Freezing Pipes: Keep your home warm during cold snaps

Mary Berg — Thu, 26 Feb 2015 20:19:15 +0000

With another cold snap coming our way in an already extensive deep freeze, the threat of freezing pipes is in the forefront of most homeowner’s minds.

Having the unique property of expanding while freezing, water puts a tremendous amount of pressure on whatever is containing it, including the metal and plastic piping found in your home.

While frozen and burst pipes can occur anywhere, some pipes are more prone to freezing than others due to their location. Pipes that are located outside or that run against exterior walls that contain little or no insulation are at high risk of freezing during prolonged cold weather as well as those that are located in unheated interior areas of the home such as basements, crawl spaces, attics, garages, and under kitchen cabinets.

In order to help mitigate the chance of frozen or burst pipes, here are some helpful tips and tricks that you can try at home:

Keep your garage doors closed as much as possible
Open kitchen and bathroom cabinets in order to allow warmer air to circulate around the plumbing
Use rigid foam insulation to close and seal all foundation vents that are near water pipes
Wrap high-risk pipes with pipe insulation which is widely available at your local hardware store
When an especially cold spell is expected, let the cold water drip from the faucet farthest from your main water intake valve. Running even a small amount of water through the pipes helps prevent freezing and can also help you detect a frozen pipe if the flow of water changes (the first sign of a freezing pipe is reduced water flow).
Make sure to keep your heat on, even when you are not home. Setting your thermostat no lower than 13°C/55°F helps protect against frozen pipes.

If you happen to find yourself with a frozen pipe, here are some methods to help thaw out the affected area:

Apply constant heat to the affected area that is closest to the faucet using a good hair dryer or an electric heating pad. Do not leave the pipe unattended while you attempt to defrost it using one of these tools.
*Do not use a blowtorch or any other open-flame device to defrost a pipe.
Keep faucets open. As you defrost the frozen area and the water begins to melt, it will begin to flow through the pipe helping melt ice in the affected area.
If you are unable to locate the pipe that is frozen, contact a licensed plumber.

If the worst occurs and a pipe bursts in your home, shut off the water at the main valve, call your plumber, and contact your insurance broker.

In terms of your homeowners insurance coverage, losses during the normal heating season relating to frozen pipes that are located within a heated portion of the dwelling hold insurance protection provided that you have not been away from your premises for more than 96 consecutive hours. If you are planning on a trip, please be sure to take at least one of the following precautions in order to ensure that your coverage remains in place:

Shut off the water supply to the home and drain water from all systems and appliances: and/or
Arrange for a competent person to enter your dwelling daily in order to ensure that heat is being maintained.

We here at Cade hope you (and your home) stay nice and warm during this chilly time! As always, if you have any questions regarding frozen pipes or the coverages provided by your habitational insurance policy, please feel free to contact us.

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Toronto Homeowners: Take advantage of Toronto’s Basement Flooding Protection Subsidy Program and help protect yourself against sewer backup losses!

Mary Berg — Thu, 29 Jan 2015 19:29:16 +0000

Recognizing that weather patterns are changing rapidly, it is interesting to note that globally, water has now become the leading ‘villain’ as it relates to property damage, surpassing the costs of insurance claims related to damage by fire and theft combined.

In the wake of the July 2013 rains and subsequent water damage, we have witnessed significant talk of change throughout various government agencies and in the insurance industry as a whole. With a record-breaking $3.2 billion in claim payouts related to severe weather events in 2013 alone, it is certainly understandable that insurers in Canada would invest a significant amount of time into reviewing changing weather patterns and the frequency and severity of related claims. Unfortunately, we are beginning to witness such events of significance which once took place every 40 years now every 4-6 years, and the insurers are responding with new limitations and exclusions specifically with respect to water.

Throughout 2014, most Insurers have introduced various changes or made clarification to their residential property policy wordings including: lower limits available for damage by sewer back up; higher deductibles for water damage; reduced discounting with respect to claims; new geographical territory definitions.

As we all know, water is an unwelcome and costly visitor to your home. In recognition of this, the City of Toronto has introduced a subsidy program to assist the owners of single-family, duplex, and triplex residential homes with a financial subsidy of up to $3,400 per property to install sewer backup mitigation devices such as a backwater valve, a sump pump, and pipe severance and capping of the home’s storm sewer or external weeping tile connection.

For further information on the City of Toronto’s Basement Flooding Protection Subsidy Program, please visit the following page:

https://www1.toronto.ca/wps/portal/contentonly?vgnextoid=30ee7c6a9967f310VgnVCM10000071d60f89RCRD&vgnextchannel=f041ffa6ee33f310VgnVCM10000071d60f89RCRD

Whether this program applies to you or not, we here at Cade would like to respectfully encourage you to consider mitigation measures for water losses. If you would like to discuss some of the benefits or the insurance implications of such installations, please do not hesitate to contact our office.

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Why is the rebuilding limit on my policy more or less than what my house is worth on the market?

Mary Berg — Tue, 25 Nov 2014 15:42:09 +0000

The Short Answer

The short answer is that the price of your home on the real estate market and the cost to rebuild it are not related. Consider the variances when looking at purchasing a 2750 sq/ft house in Courtice vs Etobicoke. While the market value tends to run higher in Etobicoke when compared to Courtice, the cost to rebuild the same 2750 sq/ft home in either location would be relatively equal.

The Longer Answer

Market value has no bearing on your home insurance. It is simply the price someone is willing to pay for your property. When trying to arrive at an insurable value for your home, insurance brokers are equipped with evaluation tools which calculate the cost to rebuild your home with like kind and quality, taking into consideration inflationary rates of construction materials and labour.

Here is a brief list of some of the factors that are considered when calculating the rebuilding cost of your home:

Material costs to rebuild today
Labour costs to rebuild today
Demolition and debris removal – the cost of removing damaged and undamaged portions of the home and the cost to remove debris from the property.

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