29 Mar 2011

Why renting out a storage unit is important during flood season

Toronto homeowners typically rent out storage units when their possessions are taking up too much room in their living space, but they also use them to protect their valuables. So if local residents' basements have a history of flooding, they may want to take what's down there and put it in storage to be on the safe side.

That's because according to data from Aviva Canada, 40 percent of all home insurance claims are related to water damage. And what homeowners spend to repair that damage has been particularly costly in the Toronto area.

Data compiled by Aviva reveals that in Ontario alone, the average cost a homeowner incurs due to water damage has risen 182 percent over since 2000, third only to British Columbia and Alberta.

Wayne Ross, vice president of property claims for Aviva Canada, says the increased cost is due to an increase in severe rainstorms and homeowners spending more money to refurbish their basements, the portion of the home that usually bears the brunt of damage.

Renting out a storage unit to hold furniture or expensive valuables during flood season provides an extra layer of protection and peace of mind to homeowners.

Be Sociable, Share!

Related Articles [3]

Amazon’s Underwater Storage Facility Is The Future Of Warehouses

March 15th, 2018
Amazon is one of the world’s largest, most innovative and successful companies who consistently redefines what it means to operate a warehouse based on the online sale of...

Why Self Storage Is Booming In Big Cities

March 5th, 2018
Self-storage has always been popular, but lately, it is becoming increasingly more popular in big cities across the country. People are finding self-storage spaces can be...

4 Tips For Fireproof Document Storage

March 3rd, 2017
We all have valuables that we would be devastated to lose in a fire. Some of them are keepsakes, some of them are worth a lot of money and some of them are important legal...

Leave a Comment

Recent Posts

Blog Categories


Subscribe to RSS Feeds
Essential SSL