Homeowners insurance customers in Quebec lack an understanding of their coverage

Quebec homeowners insurance

This virtually universal problem was just demonstrated in a survey specific to that Canadian province. The results of a survey conducted by the Insurance Bureau of Canada (IBC) has shown that a strikingly large number of homeowners insurance policyholders in the province of Quebec do not have a solid understanding of the ways in which their homes and properties are protected. About half of the people surveyed erroneously felt that they had coverage against an overflowing body of water. As one in every two people in Quebec feel that their…

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Flood insurance claims about to spike from massive Toronto flooding

flood insurance toronto canada

The IBC has already issued a warning to insurers of the area that there will be many filings. Following a tremendous sudden downpour in the city of Toronto in Canada, that flooded roadways, homes, businesses, subway stations, and even above ground trains, the Insurance Bureau of Canada (IBC) is warning insurers that the flood insurance claims will be many and costly. The city has never before in recorded history experienced a storm like the one that struck on Monday. In its history, only Hurricane Hazel, which struck in 1954, brought…

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