International Cooperative and Mutual Insurance Federation

Member news: Desjardins introduces new flood coverage for Canadians

This week Canada-based Desjardins Group has produced a new endorsement which provides flood coverage which is being automatically extended to existing customers who live in low-risk areas at no extra charge.

This new cover will be provided to members who are insured through the company’s property and casualty insurance brands: Desjardins Insurance, The Personal and State Farm Canada.

The flood coverage, also known as “Endorsement 16d,” is also available to clients who live in medium-risk areas who pay an additional premium says Desjardins. The product would provide insurance cover for damage from issues including an overflowing waterway or breaking of a dam as just two examples.

95% of Desjardins policyholders can benefit from flood coverage:

  • 80% insure properties in low-risk areas
  • 15% insure properties in medium-risk areas

Desjardins says it is committed to developing products and services that offer peace of mind and meet the current and future needs of their clients. "We listened to our customers and designed this coverage with them in mind. We want to help people avoid unpleasant surprises because dealing with water damage is already difficult enough," says Denis Dubois (pictured), President and Chief Operating Officer of Desjardins General Insurance Group.  

"Our flood coverage has fewer exclusions than the protections offered by the majority of our competitors. It's free for most clients and remains optional for policyholders who would have to pay for it. This gives clients the flexibility to adapt their coverage to suit their needs and their reality," adds Dubois.

A minority of Canadians live in areas with a higher risk of flooding. As it stands, they still don't have access to appropriate insurance coverage, says Desjardins.

"We're continuing to work with the industry and the federal government to help make it easier for all Canadians living in high-risk areas to get insurance and minimize the number of homes without adequate coverage," says Dubois.


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