Flood costs mount, over 5,000 claims filed

Approximately 4,500 homeowners, 50 businesses and 500 vehicle owners are in the process of sending their insurance adjusters claims as a result of the torrential storms that recently swept across the greater Toronto area from Oshawa to Brampton, ON with the most damage occurring just north of Highway 401.The Insurance Bureau of Canada says the number of claims is expected to grow considerably but that an estimate of total claims and damages figures will likely not be calculated for at least a week as the flow of claims is steadily streaming in. Not all damages, however, will be covered by personal policy, according to industry representatives. cautioned that all damage might not be covered by an individual’s policy.Damages incurred resulted from basement flooding and sewer backup. Property and auto damages as well as damages to commercial businesses resulted due to high winds, rain, hail and lightning.The 10,000 residents of Fergus saw tornadoes and as a result, the national insurance bureau reports damages to 300 homes have been reported. Sally Turney, vice-president of corporate communications for Aviva says 95% of claims are related to property damage.Turney says the company is advising policyholders to call their brokers directly and to initiate clean-up plans to prevent further damage such as mold. Take immediate action to prevent further damage, but only if the situation is safe. Ontario regional manager for the insurance bureau Eve Patterson says under normal circumstances it takes adjusters two to three days to visit a claimant and deal with the case.