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In the eyes of your insurance provider, not all water damage is created equal. In fact, your standard home insurance policy is likely to cover specific types of water damage but could leave you high and dry if Edmonton gets hit with any major flooding.

Keep reading to learn more about the difference between water damage and overland water, the types of water and flood damage and how working with a broker can save you money.

Standard Water Damage Coverage

Not only can extensive water damage render your home uninhabitable, but the costs associated with repairing the damage can add up quickly. You can protect your home and assets with insurance, but only if you’re adequately covered.

The types of water damage covered by the typical home insurance policy typically includes unforeseen damage caused by:

  • Burst pipes (unless pipes are frozen)
  • Malfunctioning taps
  • Improper pipe connections
  • Hot water tank failures
  • Appliance failures

In many home insurance policies, sewer backup coverage is considered optional. This means that you may not be covered in the event of water damage resulting from a sudden back up of the drains, pipes, septic systems or sewers.  If you’re concerned, contact your insurance broker immediately for more information about your coverage.

Overland Water Can Get Overlooked

Overland water includes any water damage resulting from an overflow of a nearby lake, pond, river or heavy rainfall or run-off. Overland water coverage is not included in standard home insurance policies and needs to be purchased separately.

Many homeowners believe that the water damage listed in their insurance policy will protect them in the event of a major flood, but this is rarely the case. To ensure that you’re adequately covered, review your insurance documents or speak to your insurance broker for additional clarity.

Insurance Coverage: Brokers Are Your Best Friend!

For most people, choosing an insurance policy can be a daunting task. It involves sorting through a vast amount of information, learning the lingo and weighing several different options and tiers of coverage. An experienced insurance broker can help you choose the right amount of coverage for your needs. They know the risks associated with your area and which insurance products are best suited to apartments and condos versus detached homes.  At MBS Insurance Brokers, our team not only works in the Edmonton area but they live here as well. Who else is better suited to understand the specific needs of the community?

Let’s Talk About Home Insurance Coverage in Edmonton

For more information on the difference between water damage and overland water insurance, and how to get the most comprehensive home insurance policy for your needs, contact one of the professionals at MBS Insurance Brokers. Our Edmonton brokers are here to help you every step of the way. Contact us today to learn more about the services we provide or to request a free home insurance quote.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.


1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.


2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.


4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.


6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.


7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.