Wondering what is a typical premium for a single family detached home in mississauga ? Also I heard that flood insurance is highly recommended but when I enquired with my auto insurance agent ( State Farm ) they said nobody offers flood insurance max we can offer is sewage and drain back up insurance.

Can somebody pitch in with their view/experience

Thanks

Hi,

It is correct that no body offers Flood insurance in Canada and it is also only one of the G8 countries where it is not offered. Hence do not buy a house near rivers or built on flood plains. U will need to see how to mitigate the risk.

Generally Sewer back up or Extended Water Damage is an exclusion on most of the policies but can be added at an extra cost. Generally the coverage on that is not much normally about $50 K.

Hope this helps!

-----------------------------------------------------------------
Ash