Devastating Floods

Hubby is still in Alberta until Tuesday.  I have been watching the news every day with three dead and  increasing devastation occurring to Southern Alberta with flooding that is wiping out many homeowners in the Calgary and Canmore areas.  Downtown Calgary was evacuated, the site of the Calgary Stampede (which usually starts in two weeks) is under water, the Zoo was trying to figure out how to evacuate their larger animals, and the Calgary Saddledome where the NHL Calgary Flames play had water up to row  10.  Canmore was cut off - a major highway being totally washed out.  News today says the level on the Elbow river in Calgary is dropping today so hopefully they see no more rain.  Edmonton, where hubby and the kids are is under a flood watch as although they have not received the rain that Calgary did, all the water has swollen the rivers across the Province.  A couple of our largest clients are from Southern Alberta as well as many friends.    There has been some flooding in British Columbia in areas around Kelowna although it seems most of the worst has past there now.

*from Calgary Herald website

If you are not in Canada you may not be aware of the situation.  See:
Calgary 
Edmonton Journal


My previous career in Alberta as a property underwriter for an insurance company made me more aware than most of certain things.  In Alberta we were unable to purchase flood insurance.  It is something that is not offered there (nor many other Provinces, if any).  If water comes in through doors and windows it is generally not covered(**if you live in Alberta and have specific questions contact your insurance agent for details on your own policy as they differ depending on circumstances).  If it backs up through your sewer drain if you have sewer backup coverage then the damage may be covered, and even then may be limited depending on your policy.  What usually happens in these cases is that the Province declares a State of Emergency and then Government aid becomes available to those who have damages.  Even then, they may get considerably less compensation than damages, and usually many months after the event.  Vehicles depending on the coverage you choose to buy may have water damage coverage.

No matter where you live you need to know what coverage for property insurance you have and make sure that you pay the bill on time EVERY TIME!  I remember last year when our brand new neighbors came over (now our friends) knowing that I had just left insurance to ask whether Earthquake insurance was really necessary as it is a quite expensive add-on.  We live on the end of a fault in the Earthquake zone here and I just said to her that I couldn't imagine living where we live without buying it.  They bought it. I hope for their sake and ours that they never have to use it.

These kinds of disasters can wreak financial mayhem to your job, your business, your home.  Just another reason to try and always live BELOW your means and have access to cash in case of emergency.   Let's just hope the rains stop and the water recedes as soon as possible as many will have to spend countless hours rebuilding their lives.