Do insurance companies cover losses due to water damage?
Yes. Coverage is usually limited to damage arising from sudden and accidental escape of water from an indoor plumbing, heating, sprinkler or air-conditioning system; or from a “domestic appliance” (which includes water heaters, water beds, washing machines and swimming pools) on your premises; or from a water main. Coverage usually excludes damage arising from: • floodwater – such as that from an overflowing river • repeated or continuous water seepage (from a cracked basement wall or an un-repaired pipe) • the backing up of water from a sewer, sump or septic tank • leaky gutters and downspouts. Optional coverage for some of these perils may be available. Call an OTIP service representative for more information.
