Insurance claims linked to cold weather are rising throughout the Lower Mainland.
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According to a nearby insurance company, a rise in cold-related insurance claims has resulted from the Lower Mainland’s below-freezing temperatures.
Square One Insurance President and CEO Daniel Mirkovic reports that he received 42 claims on Monday, many of which involved frozen pipes and were related to the cold weather.
He remarked, “We’re not really shocked that’s the volume and claims continue to come in.”
He acknowledges that although these problems are more common in older homes—those constructed prior to 1965, when building codes were updated—they can also occur in more recent construction.
Overall, he adds, the claims have been fairly well distributed across the Lower Mainland.
Associated Articles:
- Road repair teams and the province getting ready for the impending snowfall
- Restaurants in Vancouver flooded as a result of freezing pipes due to low temperatures.
- ICBC claims during the B.C. snowstorm and arctic blast increased by 160%.
- A senior’s home in Surrey has a burst pipe; some residents are being relocated
- Delay caused by a burst pipe on a BC Ferries vessel
The most important thing, according to Mirkovic, that people can do to prevent having to contact their insurance company in the first place is to make sure their homes are adequately heated, particularly if they are going out of town.
“It’s crucial that you make sure the heat stays on and that you set up a visit from someone to check on the heat in your house,” he stated.
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If the pipes freeze and then burst, you might not be covered by your home insurance otherwise.
In the event that pipes do freeze, Mirkovic advises turning down the drip on faucets to prevent pressure buildup when the pipes thaw.
He claims that fire sprinklers are a completely different scenario that frequently calls for a professional.
In the end, homeowners must make sure they have the right insurance in place, according to Mirkovic.
“We’re probably looking at $25,000 to $50,000 per claim on average, so having insurance is really important.”
According to him, homeowner policies can range from $40 for a condo to $75 for a house, while renter policies can start at $12 per month.
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