Water damage is fast becoming the number one threat to Canadian homes—and the data backs it up. According to Aviva Canada, catastrophic water damage claims tripled in 2024 compared to the previous year. The number of claims wasn’t just up—it exceeded the combined total from 2020 to 2023 by 50%. For homeowners in British Columbia, where heavy rainfall, aging infrastructure, and coastal risk converge, this trend is more than a headline—it’s a wake-up call.
If you’re unsure whether your current home insurance policy fully covers water-related events, now is the time to review your coverage. A Park Insurance broker can help you understand your options and ensure you’re protected.
What the Data Tells Us
Aviva’s survey and internal claims data uncovered several insights that should give homeowners pause:
- Claims are skyrocketing: Not only did the number of water damage claims surge, but the average cost of each claim rose by 25% in 2024.
- BC is a top concern: Over two-thirds of British Columbians surveyed said they were concerned about water damage to their property.
- Understanding lowers fear: Among respondents who understood their coverage, 50% felt confident and unconcerned. Among those unsure of their policy details, only 19% felt the same.
- Prevention is still lacking: Despite growing awareness, 28% of Canadians have taken no steps to prevent water damage in their homes.
This paints a clear picture: risk is rising, costs are increasing, and many Canadians are underprepared.
What BC Homeowners Should Do
1. Know What Your Policy Actually Covers
Many standard home insurance policies include water damage—but not all water-related incidents are treated equally. For example:
- Sudden plumbing failures may be covered.
- Gradual leaks or seepage might not be.
- Sewer backups or overland flooding often require additional endorsements.
Ask your broker about:
- Water damage exclusions
- Eligibility for sewer backup or overland flood coverage
- Whether your deductible is reasonable based on today’s claim averages
2. Consider Enhancing Your Protection
With the cost of claims rising, having extended water damage coverage is more important than ever. You may want to explore:
- Sewer backup protection: Covers damage when municipal sewers or drains back up into your home.
- Overland water coverage: Covers surface water that enters your home due to heavy rainfall or rapid snowmelt.
- Water and flood damage bundles: Some insurers offer combined packages for comprehensive protection.
Protective coverage is only one part of the equation—taking proactive steps around your home can reduce your risk and demonstrate a commitment to prevention.
3. Install Prevention Tools
Installing a sump pump or backwater valve can lower your risk—and in some cases, your premiums. Despite their importance, only 22% of Canadians reported having sump pumps, and just 19% had backwater valves installed.
Talk to your broker about:
- Which improvements may qualify for policy discounts
- What your insurer requires for full water damage eligibility
Now that you’ve seen the rising risks and your options for mitigation, it’s worth taking a step back to highlight what matters most.
Key Takeaways
If you’re wondering how all of this data applies to your own home and policy, here are the most important takeaways to consider:
- Water damage claims are rising fast—both in number and cost.
- BC homeowners are among the most concerned, and rightly so given regional risk.
- Many policies don’t automatically include full water protection—you need to ask for it.
- Understanding your coverage reduces anxiety and ensures you can act quickly when needed.
- Adding key preventative tools may protect your property and lower your insurance costs.
The surge in water damage claims isn’t just a national statistic—it’s a sign that BC homeowners need to take water risk seriously. With higher costs, more severe weather, and growing uncertainty, reviewing your insurance policy isn’t just smart—it’s essential. Taking steps now to understand and strengthen your water damage coverage can make all the difference if disaster strikes. Whether it’s installing preventative tools or adding the right endorsements, being proactive helps protect both your property and your peace of mind.
Worried about water damage? You’re not alone. Contact a Park Insurance broker today to review your policy, add critical protections, and gain peace of mind heading into BC’s wettest seasons.
