Introducing Overland Water Protection (OWP)
Historically, Insurance policies have excluded loss due to floods. In the recent months many carriers have introduced Overland Water Protection (OWP) which offers the most broad water protection in Canada. While each carrier names their coverage something different, it's generic term is Overland Water Protection. Weather patterns are changing worldwide, a trend that's affecting us here in Ontario. Consider this...
Warmer Climate - Over the past 60 years, average temperatures have increased by 1.3°C, and average rainfall has increased by 12%.
Wetter Climate - Canada now has 20 times the storms and floods that we had just two decades ago, major floods represent almost 40% of all natural disasters.
More Severe Climate - Severe weather events that used to happen every 40 years can now be expected to happen every six years.
Better Coverage is Affordable - OWP will be available to qualifying policyholders with Sewer Back-up coverage often costing less than $7 per month