Before you put the downpayment on a home, pre-shop for insurance.
Properties have water-risk zoning codes and a broker or agent will be able to tell what is the current risk level of your property.
If you are going direct, you may not have access to the specific water risk zoning codes, but you can look for whether or not you qualify for the full limit and types of Water Extension type coverages (ie, sewer-backup, surface water, overland water, ground water, etc…)
If you do, then at the very least you know your property is not currently in a high-risk zone.
Although it is less applicable to newly built homes, since it takes time for insurance companies to collect data and re-evaluate the risk, it is still a good idea to check.
#insuranceOntario
