Water damage now accounts for nearly half of the amounts paid for home insurance claims in Quebec, well ahead of damage caused by fire and theft. Each year, the Canadian insurance industry pays out over one billion dollars in claims to victims of water damage.
Water damage can result in high repair bills for home owners. It can also cause permanent damage to carpeting, floors, furniture and electronic equipment, as well as destroy priceless family photos and valuables. (Read the complete document: http://www.infoinsurance.ca/static/pdf/en/Brochure_Water_ENG.pdf)
Source : INSURANCE BUREAU OF CANADA
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