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Monthly Archives: May 2016

4 Important Tips For Wildfire Insurance Claims

With wildfires continuing to burn throughout the Fort McMurray area and other regions in Alberta, many Canadians are turning to their insurance providers for assistance. According to Steve Kee, director of communications for the Insurance Bureau of Canada, there are many myths surrounding filing insurance claims during times of natural disasters. Here are four tips from Steve on filing a claim during an emergency:

1. You don’t have to claim immediately
One of the big myths is that people must file their claim right away, or they won’t get anything from their insurance provider. This is false, and in reality, the formal claims process actually begins once the damage has been assessed. Thus, for many people faced with a natural disaster, including those in Fort McMurray, they are unable to claim right away and will be eligible to do so at a later point.

2. Check in with your insurance provider early and often
It’s important to check in with your insurance company early on as many policies come with additional living expenses, which people are entitled to as soon as they are evacuated. Some insurance companies even provide cheques at evacuation centres.

3. If you have home insurance, you’re likely covered
There is a lot of false information regarding whether home insurance is valid if the home was destroyed in a natural disaster. Many people believe that “an act of God” excludes something from a policy, which is not true. Most policies do cover natural disasters and insurers pay for damages as a result of windstorms, rain, hail and wildfires.

4. Know your policy
People need to know what’s in their policy and what they are entitled to. Some comprehensive policies will even cover damage to vehicles, so it’s best to know beforehand what you can expect from your insurer.

For the full story, visit CBC here. For more information on what you’re entitled to in the case of a natural disaster, contact your insurance broker or company agent.