New flood insurance could bring assurance to property owners
It’s news that may offer several Prince Albert and Saskatchewan homeowners some degree of assurance given the reality of climate change, extreme weather and increasing incidents of flooding.
A new comprehensive insurance policy – claimed to be the first of its kind to include overland flood damage, even in the most high-risk areas – is now available in Saskatchewan.
Ontario-based Coop, The Co-operators, is offering the product to everyone, regardless of risk.
“If you think about flooding from lakes and rivers, many of our competitors don’t offer the insurance for those at the highest risk, “ Flood Initiative Program Director Tara Laidman told paNOW. “ Our product is available for all clients in Saskatchewan regardless of their exposure, while also providing protection from storm surge, sewer, and septic backup.”