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  #31  
Old 06-22-2013, 05:58 AM
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If you can insure your legs for a million $ you can buy flood insurance. Just gonna cost a very high premium. All about the mighty $ Of course if you have the big bucks why need the insurance, just rebuild bigger and better.
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  #32  
Old 06-22-2013, 06:24 AM
bsmitty27 bsmitty27 is offline
 
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My contract was worded that, my insurance would not cover seepage. Which included ground water. If your sump failed, And you could prove it. You have a case. It would be a good time for a sump to blow up.
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  #33  
Old 06-22-2013, 07:13 AM
billie billie is offline
 
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Originally Posted by Kim473 View Post
If you can insure your legs for a million $ you can buy flood insurance. Just gonna cost a very high premium. All about the mighty $ Of course if you have the big bucks why need the insurance, just rebuild bigger and better.
That would be commercial insurance, not residential, different kettle of fish.

I'm not justifying it and there is lots I don't understand about insurance, just passing on the facts as I've been told.

Personally, my jury is still out for people that build and live on a known flood plain. I'm inclined to say "Tough,uh......luck".
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  #34  
Old 06-22-2013, 07:27 AM
sirmike68 sirmike68 is offline
 
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Its time to re-root a few billion of transfer payments to clean up the mess and help the locals.
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  #35  
Old 06-22-2013, 07:40 AM
Mb-MBR Mb-MBR is offline
 
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There is no insurance for overland flooding, doesn't matter if you live in a flood plain or not. I think if the area is a declared a federal disaster area then folks are eligible for government assistance.

At least this was the case here in Manitoba. BUT the home owners that were affected felt taken advantage of and launched a class action lawsuit against the province. Disagreement between value of property.

Manitoba's situation was a little different, the province operated diversions to keep water away from Winnipeg, which in turn flooded property owners along the lakes. So land owners are claiming their flooding was the result of incompetence of government, saving Winnipeg residents while flooding others.
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  #36  
Old 06-22-2013, 07:46 AM
Fisherpeak Fisherpeak is offline
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Originally Posted by sirmike68 View Post
Its time to re-root a few billion of transfer payments to clean up the mess and help the locals.
YES,beat me to it.Quebecs just gonna have to get along without the handouts for a few years.This is going to cost billions for Alta.
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  #37  
Old 06-22-2013, 08:38 AM
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PM Harper discussed financial aid on the news last night. Apparently there is a standard formula that is used to determine how much aid people will get. He didn't go into details beyond that.

And, as Mb-MBR stated, overland flood coverage is not available in Canada.

Hubby and I are shopping for a house. Once my office is reopened I need to revise my flood predictions map for Calgary based on the most recent flood. Areas certainly flooded that weren't included in my earlier calculations (based on historical data), and some more regions of the city will be excluded from our house search.
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  #38  
Old 06-22-2013, 08:53 AM
Mb-MBR Mb-MBR is offline
 
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Originally Posted by DarkAisling View Post
PM Harper discussed financial aid on the news last night. Apparently there is a standard formula that is used to determine how much aid people will get. He didn't go into details beyond that.

And, as Mb-MBR stated, overland flood coverage is not available in Canada.

Hubby and I are shopping for a house. Once my office is reopened I need to revise my flood predictions map for Calgary based on the most recent flood. Areas certainly flooded that weren't included in my earlier calculations (based on historical data), and some more regions of the city will be excluded from our house search.
Due to the flooding here in Mb and the fact the whole province can be considered a flood plain, any new houses being constructed outside of the city are required to be built above the one in 500 year flood level. Existed homes were also required to have a dam built around their homes.

Winnipeg itself is protected a by a floodway which diverts water away from the city. Much like Calgary, we have two rivers that run through the city, the Assiniboine and the Red.

One thing I do know, this disaster will bring out the character of Calgarians and Albertans. So its ShowTime folks, don't disappoint.
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  #39  
Old 06-22-2013, 06:54 PM
a little redneck a little redneck is offline
 
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This event has and will hurt allot of people. Not just the people that were flooded, there will be an economic ripple effect. It'll take the whole province and country to help out... ie getting supplies to fix and rebuild is going to be an issue as is skilled labour. Some people won't recover financially which is not good for the local economy.
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  #40  
Old 06-22-2013, 07:03 PM
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Gotta love insurance companies. In the risk business unless the risk is real. I've heard horror stories of people losing everything in a fire only to be victimized by insurance when they try to claim loss.
So much fine print and legal speak most people have no idea what they are covered for.
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  #41  
Old 06-22-2013, 07:14 PM
dumoulin dumoulin is offline
 
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Soooooo....why can't we insure for flooding but only for seepage and back-up???
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  #42  
Old 06-22-2013, 07:15 PM
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Originally Posted by Redfrog View Post
Gotta love insurance companies. In the risk business unless the risk is real. I've heard horror stories of people losing everything in a fire only to be victimized by insurance when they try to claim loss.
So much fine print and legal speak most people have no idea what they are covered for.
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Originally Posted by dumoulin View Post
Soooooo....why can't we insure for flooding but only for seepage and back-up???


If everyone will pay a premium for flood everyone could buy it. Because flood occur on flood plains only those at risk would buy. Since premiums cover loses plus retain a profit... And the market any payees into this loss is narrow... Premiums would need to be massive to cover the risk because the damages cost so much.

In other words if you lived on the only spot meteors hit... And they hit every 5-100 years... And your property and contents cost $500,000 then your insurance would need to be between $115,000/yr to $5750/yr to cover costs plus a small profit.

Insurance companies are businesses taking risk and getting rewarded for it. The provide an essential service against catastrophic loss. Some people try to scam the companies... Some companies try to be overly tight. That is where the insurance ombudsman helps the average joe.

Home insurance is pretty clear. The big scam in insurance is health care over 65. You must declare any condition you were treated for. If you think you have a heart problem and went to the doctor...and you checked out healthy...then checked off no heart problems...you will not be covered. Reason is a check up for a heart problem is listed as treatment in the fine print...even if you are healthy as a horse.

As for flood insurance. I did not buy in a flood plain for this very reason. Others made a conscious choice to buy and ignorance is no excuse.

I would be curious if you asked a real estate agent if there is flood insurance.
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Last edited by Sundancefisher; 06-22-2013 at 07:20 PM.
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  #43  
Old 06-22-2013, 07:15 PM
Clgy_Dave2.0 Clgy_Dave2.0 is offline
 
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Originally Posted by dumoulin View Post
Soooooo....why can't we insure for flooding but only for seepage and back-up???
http://www.cbc.ca/news/canada/britis...insurance.html
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  #44  
Old 06-22-2013, 07:32 PM
dumoulin dumoulin is offline
 
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Originally Posted by Calgary Dave View Post
Thanks. I just read the article and the previous post. So insurance companies won't do flood insurance because its a product which too few Canadians would buy and the flood assessment would be too difficult to figure out...? Weird??? I don't get it....if I manufacture a part that only 3 people buy, it will be more costly to buy for my customer since I put a lot of energy, time and materials in developing for only 3 units. If I build 300, they would be cheaper per unit. However, an insurance "product" like hail damage surely could not be more difficult to figure out than a flood insurance "product"? How many people are covered for that...makes it relatively cheap to buy.
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  #45  
Old 06-22-2013, 08:16 PM
conehead conehead is offline
 
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Originally Posted by billie View Post
You cannot buy residential flood insurance, flood plain or not.
Oh, I had water come in a basement window and I was covered 100%. -35 in winter and water main broke, short story water came up on neighbors lawn and ran between houses, ended up breaking basement window and we had 6" of water in basement. Fully insured!
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  #46  
Old 06-22-2013, 08:20 PM
Clgy_Dave2.0 Clgy_Dave2.0 is offline
 
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Oh, I had water come in a basement window and I was covered 100%. -35 in winter and water main broke, short story water came up on neighbors lawn and ran between houses, ended up breaking basement window and we had 6" of water in basement. Fully insured!
Key words I bolded for you. Insurance covers sewage backup, blocked drains, broken water mains, pipes, frozen pipes, ....it will NOT cover over land flood water damage that comes in through windows or doors.

Here's some more I'll bold for you from the Insurance Bureau of Canada:

home flood insurance doesn't exist in this country, says the Insurance Bureau of Canada.
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  #47  
Old 06-22-2013, 09:11 PM
mcguiver55 mcguiver55 is offline
 
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Quote:
Originally Posted by Calgary Dave View Post
Key words I bolded for you. Insurance covers sewage backup, blocked drains, broken water mains, pipes, frozen pipes, ....it will NOT cover over land flood water damage that comes in through windows or doors.

Here's some more I'll bold for you from the Insurance Bureau of Canada:

home flood insurance doesn't exist in this country, says the Insurance Bureau of Canada.
I just read somewhere that the insurance companies are "bracing' for all the flood claims..
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  #48  
Old 06-22-2013, 09:24 PM
Clgy_Dave2.0 Clgy_Dave2.0 is offline
 
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I just read somewhere that the insurance companies are "bracing' for all the flood claims..
Commercial. Not residential. You can't buy residential flood insurance in Canada. And vehicles are covered by auto insurance if you have comprehensive.
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  #49  
Old 06-22-2013, 09:26 PM
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Originally Posted by Calgary Dave View Post
Commercial. Not residential. You can't buy residential flood insurance in Canada. And vehicles are covered by auto insurance if you have comprehensive.
they are "bracing", because they haven't quite figured out yet, what excuse they will use to pass the costs on to all of their policy holders, give them about 2 days...lol
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  #50  
Old 06-22-2013, 09:38 PM
i_hate_snow i_hate_snow is offline
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Originally Posted by Sundancefisher View Post
If everyone will pay a premium for flood everyone could buy it. Because flood occur on flood plains only those at risk would buy. Since premiums cover loses plus retain a profit... And the market any payees into this loss is narrow... Premiums would need to be massive to cover the risk because the damages cost so much.

In other words if you lived on the only spot meteors hit... And they hit every 5-100 years... And your property and contents cost $500,000 then your insurance would need to be between $115,000/yr to $5750/yr to cover costs plus a small profit.

Insurance companies are businesses taking risk and getting rewarded for it. The provide an essential service against catastrophic loss. Some people try to scam the companies... Some companies try to be overly tight. That is where the insurance ombudsman helps the average joe.

Home insurance is pretty clear. The big scam in insurance is health care over 65. You must declare any condition you were treated for. If you think you have a heart problem and went to the doctor...and you checked out healthy...then checked off no heart problems...you will not be covered. Reason is a check up for a heart problem is listed as treatment in the fine print...even if you are healthy as a horse.

As for flood insurance. I did not buy in a flood plain for this very reason. Others made a conscious choice to buy and ignorance is no excuse.

I would be curious if you asked a real estate agent if there is flood insurance.
Excellent post thx
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  #51  
Old 06-22-2013, 09:54 PM
fishmonger fishmonger is offline
 
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I was standing beside our area councillor during the deluge and made a comment to her about flood plains and no insurance as a result.

She replied that people would be compensated thru the province's disaster relief program.

I cannot confirm the validity of the statement, just that the dialogue occurred.
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  #52  
Old 06-22-2013, 10:08 PM
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Originally Posted by hal53 View Post
they are "bracing", because they haven't quite figured out yet, what excuse they will use to pass the costs on to all of their policy holders, give them about 2 days...lol
I received an email from my insurance company, on Friday, talking about the extended hours for which they will be open, in order to receive and process claims...but this may be referring to vehicle claims more than anything else? Makes me think I should get a discount for being so high above the rivers.
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  #53  
Old 06-22-2013, 11:03 PM
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Originally Posted by mcguiver55 View Post
I just read somewhere that the insurance companies are "bracing' for all the flood claims..
There will probably be a lot of different types of claims involved. But, none of the claims will be for actual overland flood damage. In the event of chain-reaction damage, the last link in the chain (the one that ultimately does the damage) is the one that matters: if flood waters uprooted a tree, which landed on a car, the car may be covered for being crushed by a tree.

I don't understand 100% how it all works (insurance is my sister's profession, and not mine).
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  #54  
Old 06-22-2013, 11:04 PM
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Default Flood insurance claim

Unfortunately my wife's parents live in High River and have lost their house (basement was up to second stair from top and water at front door when they were evacuated in bucket of a front end loader Thursday). Mother in law called insurance company Friday and they told her she was not covered. She told them the sewers backed up initially, causing the tub and toilet to overflow with sewage. She was told that it was caused by the breakdown of the town sewage system, which in turn was caused by the flood. Due to all of this being caused by the flood, they were not covered. She was also told that no insurance company in the country would cover anyone, as it would cost them millions. Nice to see the support we get for making the insurance co. "billions" of dollars profit every year.
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  #55  
Old 06-23-2013, 01:31 AM
Bigdad013 Bigdad013 is offline
 
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Correct me if i'm wrong, but did not Ralph Klein before his departing after the last High River flood, put into legislation, that any new building on a known flood plain, will not be covered under provincial help in any way. But previous homeowners where grandfathered in? You build on a flood plain, you take the risk..........
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  #56  
Old 06-23-2013, 07:05 AM
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That was just Ralphie runnin' his mouth before his brain dropped into gear. How do you define floodplain when you have historical flows? An argument could be made that the entire east slope is a floodplain
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  #57  
Old 06-23-2013, 07:12 AM
kjun kjun is offline
 
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Originally Posted by Bigdad013 View Post
Correct me if i'm wrong, but did not Ralph Klein before his departing after the last High River flood, put into legislation, that any new building on a known flood plain, will not be covered under provincial help in any way. But previous homeowners where grandfathered in? You build on a flood plain, you take the risk..........
I'm hugely on board with that..........build on a flood plain, and your on your own. Why should Albertan tax payers be on the hook for people who don't pay attention to where they build or buy. Build on an active fault zone, don't expect us to pick up your tab if there's an earthquake.......build near a tinder dry forest with a history of fires, don't expect us to pay when your house burns...........build in a town called "High River", near the river, don't be surprised if your flooded out. But this is Canada....large cheques will be issued courtesy of the Canadian taxpayer.

IMO,R.
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  #58  
Old 06-23-2013, 08:32 AM
Clgy_Dave2.0 Clgy_Dave2.0 is offline
 
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That was just Ralphie runnin' his mouth before his brain dropped into gear. How do you define floodplain when you have historical flows? An argument could be made that the entire east slope is a floodplain
That would be my first question. Is there a defined "flood plain" outlined on any map? The people who built a house anywhere in Bragg Creek then? The people who built in all of Inglewood? All of Douglasdale? Who in their right mind would consider those areas a "flood plain"? Given enough water, Aspen Heights would be a "flood plain".

I would like to see any documentation of that statement by Klein. And any kind of solid info about the boundaries of said "flood plain".
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  #59  
Old 06-23-2013, 08:50 AM
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Originally Posted by Calgary Dave View Post
........ And any kind of solid info about the boundaries of said "flood plain".
http://www.envinfo.gov.ab.ca/FloodHazard/

FYI. Zoom all the way in to see specific areas.
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  #60  
Old 06-23-2013, 09:03 AM
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Originally Posted by Deer Hunter View Post
The tax payers government of this province and country will do something alright. This is Harpers back yard, and redfords constituency.

Insurance may cover flooding for commercial clients but wont touch residential.
They had better help the little guy, they can send money over seas to help in their time of need better take of your own back yard.
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