With the recent devastation in Calgary and High River, and as those communities recover from terrible flooding and untold millions in damage, it's important to know about flood insurance, what you are covered for, and what you are not covered for - in case it ever happens to you.
By and large flood insurance is difficult, but not impossible to obtain in Alberta. Many people have sewer backup coverage, but there are important exclusions in various policies offered by the insurance companies out there.
If flood insurance is important to you, or even if you want to know what the different policies are with regards to flood coverage, you should really speak to an insurance broker because brokers have access to more insurance companies and a variety of different policies.
This is also a stark reminder that price isn't everything. Just like when you buy a car, a home, or a pair of shoes, when you buy insurance the lowest price often is an indicator of the type of coverage you'll get. "You get what you pay for" is a fair statement...and as you can see from the list below, there are many clients of RBC and AMA insurance that are unhappy with the coverage being provided to them. When in doubt, read the fine print, but even better - talk to an insurance broker who is trained to spot weaknesses in coverage and can interpret the fine print for you - giving you better options and a professional opinion.