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Majority of Fort Vermilion residents affected by flooding lack insurance.

The community of Fort Vermilion, Alberta, was evacuated on April 26 when the nearby Peace River overflowed due to an ice jam. About 750 people were forced to flee from their properties.

Over 150 structures in Fort Vermilion were damaged by the disaster, and to complicate matters, the majority of Fort Vermilion residents do not have flood insurance. Even though the community is on a known flood plain, insurance is too expensive for many.

In an advisory published shortly after the northern Alberta flooding, the Insurance Bureau of Canada offered a reminder to homeowners in the area that overland flood insurance is an optional add-on to regular homeowners’ and/or business insurance.

Fort Vermilion is expected to receive about $47 million of the funding allocated for northern Alberta communities affected by flooding.

Source:https://www.insurancebusinessmag.com/ca/news/flood/majority-of-fort-vermilion-residents-affected-by-flooding-lack-insurance-222724.aspx