Wawanesa Home Policies – Frequently Asked Questions

Starting October 1, 2015 Wawanesa has made changes to their rating structure with significant changes being applied to Sewer Backup and Wind & Hail. Wawanesa will be moving towards a predictive modeling rating method which they believe will help them refine their rating variables by tailoring premiums to individual rate characteristics.

  1. How will these changes affect my Sewer Backup coverage?
  2. Wawanesa is no longer offering “policy limits” for Sewer Backup coverage. Depending on your postal code policies will automatically renew at a limit of $20,000 or $50,000. Higher limits may be available in increments of $10,000 for an additional premium
  3. Are there any discounts available to reduce the cost of Sewer Backup coverage?
  4. If you have preventative measures such as a backwater valve (that was installed after 1998) or sump pit in your home, you may qualify for up to 30% in discounts. A deductible discount is no longer available.
  5. I currently have restrictions regarding Sewer Backup on my policy, how will these changes impact me?
  6. Any restrictions put in place by Wawanesa due to Sewer Backups will only be in effectfor a maximum of 5 years. If you have experienced a Sewer Backup loss that was 5 years ago or more, please contact our office to have your policy amended.
  7. I own a condo or rent a property, are the rules above applicable to me as well?
  8. No, currently Wawanesa is only making changes to Broad or Special Homeowners Packages
  9. How much Sewer Backup coverage is enough?
  10. To make sure there is adequate Sewer Backup Coverage you will need to consider the use of the basement or lower level, such as whether or not it is used as a storage space or a finished living space and what it would cost to repair any of the finishing’s or replace any of your contents.
  11. How has Wind and Hail changed?
  12. This coverage will now be shown separately on the declaration page with an associated premium indicated. This premium is not in addition to the dwelling premium but makes up part of the overall premium.
  13. A Roof Surface – Basis of Settlement Endorsement will also be added to all policies. This outlines the conditions under which Wawanesa will be offering an Actual Cash Value (depreciated) settlement for the claim instead of Replacement Cost.
  14. Are any discounts available to reduce the cost of Wind and Hail coverage?
  15. If your home was built using prime building materials, you may be eligible for the Superior Exterior and/or the Superior Roof discounts. These building materials are more impact resistant or less likely to be affected by high winds. These include materials that meet the impact resistant roof rating UL 2218 Class 4 or FM 473 Class 4 as well as exterior coverings such as Solid or Veneer Brick or Stone, Cement Fiber Siding, Log or Sealed Concrete/ICF Construction that cover 50% or more of the exterior.
  16. I installed a Class 4 impact resistant roofing, what do I need to do to qualify for the discount?
  17. Wawanesa requires a licensed roofing contractor to complete a Superior Roof form which can be found here (insert hyperlink with pop-up).
  18. What factors will Wawanesa be using to determine the rates for each risk?
  19. The ratings factors will include:

  • Claims Free
/
  • Loyalty

  • Construction Type
/
  • Mortgage Free

  • Deductible Amount
/
  • Number of Families

  • Dwelling Age
/
  • Number of Storeys

  • Exterior Wall Covering
/
  • Policyholder Age

  • Fire Alarm
/
  • Roofing Materials and Age

  • Heating Type
/
  • Under Construction

  • Intrusion Detector

  1. What if I don’t want to provide Wawanesa with all of this information?
  2. If the requested information is missing, Wawanesa will insert default values based on the most adverse scenario (i.e. missing date of birth will default to policyholder being 18 years old, eliminating the age discount)
  3. Is it possible that my premium will increase if I provide all the information requested?
  4. In most cases providing current and accurate information will not cause your premium to increase however, under certain circumstances, you may see a slight increase. If your policy had been issued with a mortgage free discount and you currently carry a mortgage, the loss of this discount will affect your premium.