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3.7 Flood Rider R43

3.7.1 Description of Coverage

We agree to extend the insurance provided under Section 1 to include direct loss or damage to property insured caused by the sudden and accidental entry of water resulting from flood into the Strata Building or private structures on the premises.

The amount of insurance is limited to $50,000 for this coverage.

3.7.2    Loss or Damage Not Insured

We do not insure loss or damage:

  1. caused by the breaking out or the overflow of any body of salt water; or
  2. caused by tsunami, tides or waves of any kind; or
  3. caused by continuous or repeated seepage or leakage of water; or
  4. caused by ground water; or
  5. to a watermain; or
  6. occurring while the Strata Building or Strata Unit insured is under construction or vacant, even if we have given permission for construction or vacancy.

3.7.3    Deductible

The deductible for any one occurrence of flood as defined under 3.7.4.1.1 is $2,500.  Claims resulting from flood as defined under 3.7.4.1.2 are subject to the policy deductible.  For each single flood claim, we will pay only the amount of loss or damage, which exceeds the deductible.

All flooding occurring within any period of one-hundred sixty-eight (168) consecutive hours during the policy term shall be deemed to be a single flood for the purpose of this Rider.

3.7.4 Definitions

The coverage under this Rider is subject to the definitions contained in Section 5 of this policy except as modified or added by the definitions contained within this Rider.

1. “Flood” means:

1) the breaking out or the overflow of any body of fresh water; or

2) the accumulation or run off of surface water or rainfall or snowmelt.

All other terms, conditions, limitations, exclusions and definitions within the policy remain unchanged.